Mortgage Strategy

Recasting your Michigan mortgage after a lump sum lowers your required payment without a refinance. Here is what it buys you, and what it does not change.

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.

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.

Tax write-offs shrink your income on paper. See how Michigan self-employed borrowers qualify on real cash flow using add-backs and bank statement loans.

Building in Michigan and asked to pay a non-refundable builder rate lock fee? Here's what that fee actually buys, when it's worth paying, and what to ask.

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

DSCR loans for Michigan short-term rentals qualify you on projected Airbnb and VRBO income, not tax returns. Here's how they work and what to watch for.

DSCR loans let Michigan real estate investors qualify using rental income, not tax returns. Here's how debt service coverage ratio loans actually work.

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.

Michigan has more homes for sale this summer than a year ago. Here's what the shift in housing inventory means for buyers, and why waiting often costs more.

If your CPA's tax strategy makes your income look smaller than it is, a bank statement loan looks at what actually moves through your business account instead

Self-employed borrowers with a strong most-recent tax year may qualify for a conventional mortgage using just one year of returns. Here's how the Fannie Mae and Freddie Mac exception works.

Most lenders offer the same products. As a broker, Mortgage Up works with dozens of lenders — competitive on conventional loans and equipped for borrowers who need a different approach.

Most people assume that if a bank says no, the answer is no. That assumption costs people more than they realize. When a conventional lender declines a borrower, it usually isn't because the borrower can't afford the home. It's because the borrower's income, employment, or financial picture doesn't fit the documentation requirements the lender is working from. That's a different problem — and it has different solutions. Non-QM loans are one of those solutions. Non-QM stands f