Chat about Macomb County MI real estate & Homes for sale search site

Macomb County MI Real estate

Macomb County MI real estate blog

Entries Tagged as 'fha mortgages and first time home buyers'

A new year – and many new exciting things

January 5th, 2015 · 1 Comment · Buyers agency, fha mortgages and first time home buyers

I’ve been neglectful to this blog through 2014, but this year I hope to change that.  I miss writing about things that I see happening with the real estate market in Macomb County, as well as sharing with everyone the new & exciting things that I see happening. One of the biggest changes that happened […]

[Read more →]

Tags:·

Bank owned homes and FHA or MSHDA mortgages – what Macomb County MI home buyers need to know.

July 9th, 2012 · No Comments · fha mortgages and first time home buyers, Searching homes for sale in Macomb County, tips for home buyers

Congratulations!  You have gone through the pre-approval process and now know that you can purchase a home using a FHA or MSHDA mortgage.    During your time gathering documents and working with your mortgage lender you’ve also been looking at homes online and found many that fit your budget and criteria. There could be a problem […]

[Read more →]

Tags:

Why an FHA appraisal matters to buyers of a home, not just the sellers! Helpful tips for Macomb County MI home buyers and sellers

April 5th, 2012 · No Comments · Appraisals in Macomb County MI, fha mortgages and first time home buyers, tips for home buyers, tips for home sellers

A point of confusion for home buyers in my area, as well as home sellers, is the role of an FHA appraiser.   The FHA appraiser not only determines fair market value for the home but he/she will also take a peek to determine if there are any issues to what FHA refers to as the […]

[Read more →]

Tags:··

When your full price offer isn’t really full price (Sellers concessions and the home buying process in Macomb County MI)

February 6th, 2012 · No Comments · fha mortgages and first time home buyers, first time home buyers, tips for home buyers, tips for purchasing a foreclosure

You don’t have to be a first time home buyer to be confused about how sellers concessions work.   Many 2nd and 3rd time home buyers ask the sellers for concessions (help in paying the buyers closing costs, pre-paid items, and/or tax prorations.) The confusion sets in for buyers when they make a strong offer on […]

[Read more →]

Tags:·

Confusion abounds about FHA loan limits and MSHDA income limits in Macomb County MI

January 27th, 2012 · 1 Comment · Buyers agency, fha mortgages and first time home buyers, mortgages in michigan

A recent phone call that was placed to me from someone who had read many of my articles for first time home buyers leads to this one being written now.  The caller was confused because she had been led to believe that FHA had income limits, and that the loan limit was part of the […]

[Read more →]

Tags:··

More phone calls about HUD approved condos and FHA financing

December 6th, 2011 · No Comments · Buyers agency, Condos in Macomb County MI, fha mortgages and first time home buyers

I’ve received a couple of phone calls within the last month from condo buyers (with their own buyers agents) who are stumped and confused about purchasing a condo with FHA financing. (The part that confuses me is why buyers are confused when they have hired a buyers agent, but that’s food for thought for another […]

[Read more →]

Tags:··

“You mean I am financing my closing costs?” What it really means when you ask for sellers concessions on your home purchase

October 29th, 2011 · No Comments · Buyers agency, fha mortgages and first time home buyers, tips for home buyers

One of the most confusing aspects of the purchase process for home buyers is sellers concessions. They’ve heard their mortgage lender mention it, in lieu of the buyers needing to bring to closing all of their closing costs, pre-paids, etc.    It’s also been discussed with their buyers agent during the process and while sitting down […]

[Read more →]

Tags:

Buying a foreclosure or bank owned home using FHA? What you need to know about FHA (or VA) repairs

June 6th, 2011 · No Comments · Appraisals in Macomb County MI, fha mortgages and first time home buyers, tips for home buyers, tips for purchasing a foreclosure

One of the most frequent issues that I run in to while representing a home buyer in my area (Macomb County, St. Clair County, Oakland County) is the fact that so many homes are foreclosures (bank owned) and my buyer clients are using an FHA or VA mortgage. FHA has what I term “health and […]

[Read more →]

Tags:

Here we go again..proposed changes to FHA and what it could mean to our Macomb County MI real estate market

June 1st, 2011 · No Comments · fha mortgages and first time home buyers, macomb county mi real estate market, mortgages in michigan

I will probably sound like a broken record   (if you are old enough to remember vinyl records): Once again there is chatter and some serious talk about the government raising FHA down payments to 5%. (Currently the down payment for an FHA mortgage is 3 1/2 percent.)  This is just one of the changes being […]

[Read more →]

Tags:·

Update on FHA mortgage changes

November 5th, 2010 · No Comments · fha mortgages and first time home buyers, mortgages in michigan, tips for home buyers

Over the last year I’ve tried to keep my readers up to date on changes that were coming for FHA mortgages and what it means for future home buyers in my Macomb County area. One of the gentlemen that I look to for advice when it comes to FHA mortgages is Jeff Belonger.  He is […]

[Read more →]

Tags:

Important copyright information: All photos were taken by Kris Wales. Do not copy and use photos for your own use, whether it be for personal or commercial purpose. All articles were written by Kris Wales. Once again, do not copy and use for your own purposes. Important disclaimer: Views expressed on the blog by the author and commenters do not express the views of Keller Williams Realty. All information contained is deemed to be reliable at the time of posting but not guaranteed.