Home Loan Basics

A medical collection on your credit report rarely stops a Michigan mortgage. Here is what paying it actually changes before you close, and what it does not.

An FHA appraiser flagged peeling paint days before your lock expires. Here's who pays, how fast the repair and re-inspection go, and how to protect your lock.

Bonus and commission make up a big part of your pay. Here's how Michigan underwriting counts variable income, the two-year averaging rule, and when 12 months works.

Under contract in Michigan? Here's the offer to closing timeline step by step, from escrow and inspection to underwriting, your CD, and closing day itself.

Your appraisal came in under contract and the seller won't budge. Here are your real options on a low appraisal in Michigan, from gap cash to walking away.

Comparing a HELOAN, HELOC, and cash-out refinance for Michigan homeowners tapping equity — how each works, who qualifies, and how to pick the right one.

Physician mortgage loans let Michigan doctors buy with 0% down and student loans calculated differently. Here's how the program actually works.

Have significant savings but income that's hard to document? Asset utilization loans let Michigan borrowers qualify for a mortgage using what they've already saved.

Wondering how soon you can buy a home again after bankruptcy or foreclosure in Michigan? Here is what FHA, VA, and conventional lenders actually require.

ITIN borrowers can qualify for a home loan in Michigan without a Social Security number. Learn how ITIN mortgages work, what's required, and who qualifies.

No credit score doesn't mean no mortgage. Learn how manual underwriting and nontraditional credit let you buy a home in Michigan without a credit score.

Self-employed in Michigan? A profit and loss statement loan lets you qualify for a mortgage using your business's true income instead of your tax returns.

Turned down because of your tax write-offs? There are real loan options for 1099 contractors in Michigan. Here is how qualifying actually works.

Mortgage rates are holding steady this summer in Michigan. Here is what is driving them, why waiting for a drop usually backfires, and what you can actually control.

Fannie Mae's HomeReady and Freddie Mac's Home Possible offer 3% down, lower PMI, and flexible income rules — and most buyers who qualify don't know they exist.

Seller concessions let buyers ask sellers to cover closing costs — but the rules depend on your loan type, and asking wrong can cost you the deal. Here's how it works.

A high DTI doesn't mean you can't buy — it means you need a plan. Here's how to move the number that's standing between you and a mortgage approval.

Down payment is just the start. Michigan buyers need to account for closing costs, reserves, and more. Here's the full savings picture before you make an offer.

Student loans don't automatically disqualify you from buying a home. But how lenders count them depends on the loan type and your repayment plan. Here's how it works.

Your credit score affects which loans you qualify for — and what rate you get. Here's the breakdown by loan type, plus what actually moves your score before you buy.