How to Buy a Home in Nine Steps
Homeownership can be both rewarding and daunting, especially for new buyers. If you’re in the market for a new home and aren’t sure what the procedures are, follow these nine steps to help guide you in the right direction. Are you in the market for a new mortgage? Contact the experts at EB Mortgage today… Read more
2023 Housing Market Predictions
The housing market is being eyed with heavy suspicion and uncertainty as rising interest rates combined with an unstable housing market and an increase in median sales prices. With the new year comes new questions pertaining to costs, sales, and more. Home values in Michigan have risen by roughly 32 percent in the past two… Read more
Home Equity Basics
By owning your own home, equity allows you to build wealth through time. Homeowners are responsible for maintaining the house after the mortgage closes, but it’s not for nothing. Home equity builds with each payment made towards your mortgage and the value of comparable sales in your neighborhood. Home equity is the value of your… Read more
What is a Reverse Mortgage
Reverse mortgages are specially designed for homeowners 62, and older looking to supplement their income, cover healthcare expenses, etc., by converting part of their home equity into cash. The homeowner retains the title and gets an advance on some of the home equity in lieu of paying monthly mortgage payments. While this may be enticing for… Read more
Obtaining Cash Through Home Equity Loans, HELOCs
As a homeowner, you are automatically building equity through time, which can be used to secure low-cost funds by obtaining a second mortgage. Through one-time home equity loans or a Home Equity Line of Credit (HELOC), these options are available for you to access cash for renovations, large purchases, or alternative debt repayment. Home equity… Read more
Credit Scores Explained
Let’s face it, most of us don’t have a couple hundred thousand dollars under our pillow to buy a home or even a new vehicle. We need banks to loan us large amounts of money for big-ticket items. How do banks determine who qualifies for a loan by calculating our credit score? Your credit score… Read more
Common Hand and Wrist Injuries Due to Sports
Playing sports has significant health benefits to a person’s well-being. However, with any physical activity is the possibility of injury. Approximately 25% of all sports injuries are associated with the athlete’s hand and wrist. These damages can create barriers to completing daily tasks- on and off the field. It’s important to understand the symptoms of… Read more
Experts Spot Recession Signs in Michigan
Soaring prices for items such as gas, airline tickets, food, and more are signaling alarms to economic experts. According to a June report by the University of Michigan Surveys of Consumers, buyer sentiment decreased by 14.4 percent in June, and roughly 79 percent of consumers anticipate bad times for business conditions in 2023. University of… Read more
Alternative Loans Explained
Conventional loans are not the only way borrowers can get approved – alternative loans include non-conforming loans, stated income loans, Alt-A loans, portfolio loans, and others. Where conventional loans cannot provide purchasing power, alternative loans can work for the right buyer. Alternative loans are meant to assist unconventional borrowers to secure financing. Atypical buyers can… Read more
Four Ways to Improve Curb Appeal
Making a first impression with potential buyers can be a hit-or-miss scenario. In today’s seller’s market, it’s important to hook buyers…but how? The simplest answer: curb appeal. Your home’s appearance can have a huge impact on how much money a potential buyer is going to fork over. Houses with a poor exterior sell for seven… Read more