Seller Concessions

Seller concessions refer to an agreement in which the seller pays certain financing costs for the buyer of the home. i.e. Title insurance, Processing fees, Origination fees, Inspection fees, Transfer taxes The purchaser may request seller concessions during contract negotiations, or the seller may offer a concession during the listing process. Negotiations for seller concessions…

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2019 Loan Limits Increase!

Given the rapid run-up in home prices over the last year, it’s no surprise that loan limits will also be going up in 2019.  The Federal Housing Finance Agency (FHFA) announced that the maximum conforming loan limits for mortgages eligible for acquisition or guaranteed by the two government-sponsored enterprises (GSEs) Freddie Mac and Fannie Mae will be $484,350.…

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Max allowable DPA for MSHDA – Conventional

Step Forward Down Payment Assistance (DPA) Step Forward Down Payment Assistance (DPA) is federally-funded, forgivable and offered in 61 eligible zip codes in 10 Michigan counties. Step Forward has allocated $20 million to the Step Forward DPA program. Funds are limited and are available on a first-come, first-served basis. The down payment assistance is $15,000 and…

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MSHDA Step Forward Down Payment Assistance

Step Forward Down Payment Assistance (DPA) We have exciting news about a new, forgivable down payment assistance loan program launching October 8, 2018. Step Forward Down Payment Assistance (DPA) is federally-funded, forgivable and offered in 61 eligible zip codes in 10 Michigan counties. Step Forward has allocated $20 million to the Step Forward DPA program. Funds…

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Energy Efficient Homes Made Easy

The Easiest Ways to Save Money with Energy Efficiency Making a budget is a lot easier than actually sticking to it–we know. But when you become a homeowner, it’s even more essential that you make an effort to live within your means. Your house is not only your biggest investment, it’s also the place you…

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Quick Tips to Raise FICO®

Tips to Raise your FICO®Score Get qualified for a better mortgage with a better credit score!   Your FICO® score is a critical factor to getting approved for a home mortgage loan. The FICO® score, meaning the standard U.S credit rating, is largely responsible for the terms and conditions (including the interest rate) that you…

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How Home Sellers can help Home Buyers

Seller Concessions When home seller pays costs on the home buyer’s behalf. Title Insurance, Processing fees, Origination fees,  Inspection fees, Transfer taxes, etc.   Seller Concessions can differ with each financing type or transaction purpose. i.e. primary residence, second or vacation home or investment property.     Great strategy to decrease cash to close for…

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