Mortgage Marvel Rate Trends Shows 30-Year Fixed Rates Fell in April #bad #credit #mortgage #loans


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Mortgage Marvel Rate Trends Shows 30-Year Fixed Rates Fell in April

MEQUON, WI–(Marketwire -05/02/12)- Mortgage Marvel Rate Trends™, a daily survey of more than 1,000 lenders, shows conforming, 30-year, fixed rates fell in April, closing out the month at 3.96 percent. Late in the month, the economic news from Europe continued to be negative, which led investors to seek the safety of U.S. Treasury notes. Increased buying drives down interest rates on these notes, and mortgage rates track these rates closely. This is clearly good news for those looking to buy or refinance a home.

“Most economists are indicating that rates will continue to stay low,” said Rick Allen, chief operating officer of Mortgage Marvel. “The housing market is warming up and mortgage interest rates are staying low, which runs counter to most expectations. Consumers should consider acting now if they are looking to refinance a mortgage or purchase a home.”

30-Year Fixed Rate – As of April 30, 2012

The 30-year fixed rate on April 30 was 0.31 percent lower than the 6-month high of 4.27 percent reached on Oct. 30, 2011.

30-Year Fixed Rate – Highs Lows

*Change based on difference from current rate

Other popular products

Fifteen-year fixed rates also headed lower in April, closing out the month at 3.2 percent after reaching a high of 3.35 percent on April 4. 5/1 ARMs fell as well to 3.18 percent on April 30 after hitting a high of 3.33 percent on April 2. The rates for 30-year, fixed rate jumbo loans (typically loans over $417,000) closed the month at 4.74 percent after reaching a high of 5.02 percent on April 5.

For comparison sake, displayed rates feature 0 discount points unless otherwise indicated. The assumed loan amount and loan-to-value ratio are $500,000 and 66% for jumbo loans and $187,500 and 75% for all other programs.

For more detailed information, including an interactive graph and state-level detail, go to www.mortgagemarvel.com/mortgageratetrends/ .

About Mortgage Marvel Rate Trends

Mortgage Marvel Rate Trends pulls rates every day directly from the live product and pricing database of more than 1,000 national, regional, and local banks and credit unions across the country. Mortgage Marvel Rate Trends includes average rates for conforming (i.e. loans below $417,000) and jumbo loan programs across all common fixed and adjustable rate products. Mortgage Marvel Rate Trends also separately tracks rates for purchase, rate term refinance, and cash-out refinance transactions for every product and program, and for every state and region in the U.S.

About Mortgage Marvel and Mortgagebot

Mortgage Marvel (www.MortgageMarvel.com ) presents free, accurate, up-to-date mortgage quotes from multiple lenders in an easy-to-understand display. It further enables borrowers to link directly to their preferred lender — where they can complete a mortgage application and get approved with full disclosures, all in about 20 minutes or less.

Mortgage Marvel is operated by Mortgagebot LLC (www.Mortgagebot.com ), the industry-leading, Inc. 5000 company that provides the unique, award-winning PowerSite family of integrated point-of-sale (IPOS) solutions. Mortgagebot blends deep mortgage experience with innovative “cloud-computing” technology to create scalable and affordable Web sites for nearly 1,000 banks and credit unions nationwide.


Mortgage Solutions – Arbor Bank #estimate #house #payment


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Mortgage Solutions

Your home is a unique reflection of your own personal style; shouldn t your mortgage be just as distinctive?

Arbor Bank s experienced team of mortgage professionals will create a custom-tailored solution that is just the right fit.

Once we find the right mortgage solution for you, we ll assist you in the application process and be with you each step along the way through closing.

Let us help you purchase your new home or take advantage of options to refinance your existing home. We specialize in FHA, VA, Conventional, Rural Housing and first time home buyers programs.

Construction Loans

Have you dreamed of building your own home but don t really know what you can afford or even where to start?

Give us a call. Sit down with a mortgage professional and let s put a plan together that will set your dream in motion.

Meet the Team

Our mortgage lending team is ready to help you through purchasing a home, refinancing your existing home, or building your dream home.


Obama Said to Cut FHA Mortgage Insurance Premiums #mortgage #calcultor


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Obama Said to Cut FHA Mortgage Insurance Premiums

In an effort to expand homeownership among lower-income buyers, President Barack Obama plans to cut mortgage-insurance premiums charged by a government agency.

The annual fees the Federal Housing Administration charges to guarantee mortgages will be cut by 0.5 percentage point, to 0.85 percent of the loan balance, Julian Castro, secretary of the Department of Housing and Urban Development, said today during a conference call with reporters. Under the new premium structure, FHA estimates that 2 million borrowers will be able to save an average of $900 annually over the next three years if they purchase or refinance homes.

Shares of private insurers that compete with the FHA fell on the news, which Obama plans to discuss during a visit to Phoenix tomorrow.

“We believe this is striking a very good balance between being fiscally responsible and also enhancing homeownership opportunities,” Castro said.

‘Locked Out of Market’

The FHA has been increasing premiums since 2011 to offset losses caused by defaults on mortgages it backed after the housing bubble burst. Housing industry participants say the increases in annual fees, which are now at 1.35 percent of the loan balance, are squeezing buyers with modest incomes out of the market.

“Lots of people have been locked out of the market, particularly lower-wealth borrowers and borrowers of color, by the high prices at FHA,” said Julia Gordon, director of housing finance and policy at the Center for American Progress, a group affiliated with Democrats. The premium cut “does put homeownership within the reach of more people.”

The FHA estimates that 250,000 first-time homebuyers will enter the market after the premium reductions.

In addition to its annual premiums, the FHA also charges borrowers an upfront fee, which is currently set at 1.75 percent of the loan balance and is not slated to change.

‘Broken FHA’

Democrats and housing groups say reducing FHA fees will help the agency’s bottom line because it will boost the volume of lending, which declined when homebuyers had to pay more to obtain loans. A December study by the Mortgage Bankers Association said the premium increases had reduced the value of the insurance fund by $4.4 billion as higher costs drove away creditworthy borrowers.

Republicans have said premium cuts should be off the table because the agency’s insurance fund remains below legally required levels. House Financial Services Committee Chairman Jeb Hensarling said last month that “a broke FHA is a broken FHA.”

“This sounds like a move in the wrong direction,” said Mark Calabria, director of financial regulation studies at the Cato Institute, which supports free markets. “FHA has a portfolio of poor quality loans. This will end up costing the taxpayer considerably.”

The agency is required to keep enough cash on hand to cover all projected losses in its $1.1 trillion portfolio. The insurance fund required a $1.7 billion draw from the Treasury Department last year. In fiscal 2014, the fund posted its first positive balance in two years.

Shares Slide

The fund must also maintain a cushion of 2 percent of its value, a level it isn’t projected to reach until fiscal 2016.

Castro, who is scheduled to accompany Obama to Phoenix, said the fee cut would have a “marginal” impact on the insurance fund.

Radian Group Inc. which sells insurance to homebuyers, slid 5.5 percent to $15.62 at 1:53 p.m. in New York trading. MGIC Investment Corp. slumped 4.7 percent percent and Essent Group Ltd. fell 9.4 percent.

Radian climbed 18 percent last year after more than doubling in both 2012 and 2013 and had said it benefited as private companies gained market share from the government.

Mortgage insurance helps cover losses when homeowners default and foreclosures fail to recoup costs. The coverage is typically required when borrowers’ down payments are less than 20 percent of a home’s price.

The FHA had a 30 percent share of the mortgage insurance market in the third quarter of last year, down from about 69 percent in 2009, according to data from Inside Mortgage Finance. Private firms wrote 42 percent of the coverage in last year’s third quarter, and a government program for veterans accounted for most of the remainder.

Some Ginnie Mae-guaranteed securities backed by FHA loans also declined on concern that more borrowers will find it worthwhile to refinance, repaying debt that’s trading at higher prices at face value. Bonds with 3 percent coupons fell by 0.15 cent on the dollar more than similar-duration Treasuries as of 11 a.m. in New York, according to data compiled by Bloomberg, after typically outperforming government debt when bond prices have dropped in recent months.

Before it’s here, it’s on the Bloomberg Terminal. LEARN MORE


FHA 203k Loans: Basics, Costs, and Pitfalls #calculate #your #mortgage


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FHA 203k Improvement Loans

Updated August 05, 2016

An FHA 203k loan allows you to borrow money, using only one loan, for both home improvement and a home purchase. These loans can also be used just for home improvements, but there might be better options available. 203k loans are guaranteed by the FHA , which means lenders take less risk when offering this loan. As a result, it’s easier to get approved (especially with a lower interest rate ).

FHA 203k Basics

Some properties are almost perfect – the location is good, and property has potential, but significant improvements need to be made.

Without those repairs, the home might not be suitable for living, and lenders might be unwilling to fund loans on a property with problems.

FHA 203k makes it possible for you to turn that property into a home (and to get that property off the market and make it a valuable part of the community again).

Fund repairs and purchase: you can borrow enough to make your purchase plus enough to make the necessary improvements. Because the Federal Housing Authority (FHA) is involved, lenders are willing to move forward with a property they otherwise wouldn’t touch.

Temporary housing: unless you want to live in a construction zone, you’ll need funds for other housing arrangements. In certain cases, you can borrow extra to cover rent or your existing mortgage for up to six months.

Project overview: your project must be completed within six months. Funds are placed in an escrow account and paid out to contractors as the work is completed.

It’s essential to work with reputable contractors who don’t underbid and who are familiar with the 203k process.

Eligibility: owner/occupants and nonprofit organizations can use FHA 203k, but not investors. The program is designed for one to four unit properties, but condo and townhome owners can use the program for interior projects.

You don’t need perfect credit – because the FHA protects lenders in case you default, it’s easier to qualify. You still need sufficient income to cover the payments. It’s best to have a debt to income ratio better than 31/43, but you might be able to go higher.

Loan Details

You must borrow at least $5,000, and there are maximum limits set by the FHA that vary by location. For most people buying a single-family home that is not extravagant, you’ll fall into these limits. For smaller projects, the Streamlined FHA 203k allows you to borrow less (with an easier process).

You can borrow enough to finance 110% of the home’s projected value after improvement. Appraisers will review your plans and take the future value of your home into account.

Interest rate: the interest rate will vary, depending on rates in general and your credit. Expect to pay a rate that’s 1% or so higher than you’d pay on a standard loan. Think of this as the cost of easier approval (or bundling both your purchase and improvement loans into one).

Plus, lenders need to do extra work tracking the progress of your project and handling payouts. At the same time, the loan is insured by the FHA, so lenders might offer a lower rate than you’d get elsewhere. Compare offers and get the loan that works best for you. 2023k loans can be either fixed-rate or variable rate loans with repayment up to 30 years.

Down payment: with the 203k loan, like other FHA loans, you can pay as little as 3.5% up front. But there are good reasons for making a larger down payment whenever you can.

Contractors and DIY

203k loans give you the opportunity to make significant improvements to your home. You also get to do the things that matter most to you: if you want to use green or energy-efficient appliances and materials, you’re free to do so. You can’t fund luxury items through 203k, but you can make dramatic improvements.

Unfortunately, you’re generally not allowed to do the work yourself. Even if you are a skilled, licensed contractor, don’t expect to handle all of the work.

You must use licensed contractors for all work, and it’s important that they know you’re using 203k. This might rule out certain handymen you’ve used in the past and have developed a relationship with. The 203k process is all about paperwork and following certain rules, so brace yourself for less freedom than you might have imagined when remodeling your home.

Pros and Cons

203k loans are great for improving a property that you hope to live in. However, benefits never come for free.

Cost: FHA 203k loans might or might not be your most affordable option. You’ll pay an up-front mortgage insurance premium (MIP), and you’ll also pay a small ongoing fee with each monthly payment. Your lender may also charge a supplemental origination fee (the greater of 1.5% or $350). Other non-203k lenders will certainly charge fees, so you need to get quotes from several sources (looking several different types of loans) before you make a decision.

Paperwork: these loans are notorious for the paperwork. You’ll fill out numerous forms, and your contractors are also subject to some of this pain. If you don’t have the patience to follow through on everything, consider other options.

Time: in addition to the time it takes to deal with paperwork, you’ll have to wait on answers from the FHA and your lender. They’ve got just as much (or more) paperwork to do on their end. Especially if you’re trying to buy a property in a competitive market, this can be a dealbreaker.

Required standards: you might have certain improvements in mind, but the FHA also requires that you deal with health and safety issues and meet all building codes. Lead paint, electrical problems, and other items may be added to your project list unexpectedly. Dealing with those issues is probably a good idea anyway, but you have less choice on when and how to fix those problems.


Will Obama s latest mortgage refinance plan help you? CBS News #cherry #creek #mortgage


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Will Obama’s latest mortgage refinance plan help you?

Will Obama’s mortgage refinance plan help you?

Dean Baker of the Center for Economic and Policy Research sits down with CBSNews.com deputy politics editor Corbett B. Daly to discuss the ins an.

President Obama on Monday announced new measures to help borrowers refinance their existing mortgages to new loans with lower interest rates and cheaper monthly payments.

The plan is an expansion of an existing program to help borrowers who are not behind on their payments but cannot refinance because they do not enough equity in their home. Or they might be underwater–which means they owe more than their home is worth.

“Right now, some underwater homeowners have no choice but to refinance with their original lender – which some lenders refuse to do,” Obama said in prepared remarks.

“These changes will encourage other lenders to compete for their business by offering better terms and rates, and eligible homeowners to shop around for the best ones,” he added.

But how many homeowners will it really help? And will it be enough to jumpstart the still struggling housing market?

Dean Baker is the Co-Director of the Center for Economic and Policy Research here in Washington, spoke with CBS News and said if 800,000 borrowers are able to refinance, that would be “very good.”

That would be a big help to those borrowers, but probably not enough to make much of a difference in the overall economy, he added.

Despite the relatively modest effect, Mr. Obama and his team recognize the president needs to be seen on television everyday as someone “trying to solve problems, said Larry Sabato, a politics professor at the University of Virginia.

“It’s a smart approach and long overdue,” Sabato said, noting that the administration is “out of time” as the presidential election is just a year away.

“They realize that Obama probably can’t get a Mother’s Day resolution passed through Congress,” so he has to move ahead with incremental measures that help pockets of Americans.

Housing analyst Edward Pinto stressed that the plan would mostly help borrowers who owe less than their mortgage, despite the repeated talked from White House officials that it is aimed at so-called “underwater” borrowers.

“I think it’s important not to get expectations up too high,” said Pinto, a fellow at the conservative American Enterprise Institute and a vocal critic of Fannie Mae and Freddie Mac, the two government sponsored entities that are backing the loans eligible for refinance under the Home Affordable Refinance Program (HARP).

Pinto noted close to a million borrowers have gotten a HARP refinance loan since it was introduced two years ago, but only about 100,000 of them were borrowers who owed more than their house is worth. Without the HARP program, borrowers would have to owe less than 80 percent of the loan’s value to refinance, so the majority of borrowers who got new HARP loans were in that 80 to 100 percent range, Pinto said.

Even with the expanded program, “they are not going to help a million” more underwater borrowers, Pinto added.

2011 CBS Interactive Inc. All Rights Reserved.


MI – Grand Rapids Mortgages #monthly #house #payment #calculator


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MI – Grand Rapids

As I was looking for funds for an investment and the monthly payment was a secondary concern, Robert was able to work with me on the numbers that I cared about instead of just quoting me a monthly payment.

Jeremy S. – 4/5/2016

Mary Jurgens worked with me and didn t give up like every other place I tried. She was kind, friendly, and extremely helpful.

Jordan V. – 4/1/2016

Mary Jurgens did an excellent job navigating this loan!

Benjamin P. 06/17/2016

Robert Baldwin was extremely reliable and attentive to all of my requests. His communication was quick and professional. He answered all my questions and handled all my requests in a timely manner. The process was extremely efficient and painless. Thank you to the whole team. We love the property and if we need any home loan needs in the future, Guaranteed Rate has our business.

Jeramie B. – St.Louis, MO | APR 2016

Guaranteed Rate made it real easy for me. The process was smooth!

Matthew L. – 8/30/2016

Mary was great to work with and patiently walked us through each step.

Daniel S. 06/24/2016

Mary was excellent and responsive. Had it not been for Mary, I may have stopped the process and gone somewhere else.

Mary is the greatest. No more needs to be said. She was always there when we needed her for anything.

From the initial phone call with Mike Alkema the service his team provided was beyond professional and expeditious. I received a great rate. His team made it easy to do business. All facets of the loan application was made easy by the team. All aspects were completed via the internet. The team answered all questions, no waiting for feedback. They returned all calls dealing with additional info that I needed in fast and timely manner. It was a pleasure dealing with them. I will definitely.

Edward A. – 3/28/2016

Michael took the time with me to find a promising solution to my situation that many would not. I am grateful to him for working with me. Thank you Michael.

Terrance F. – Saint Paul, MN | APR 2016

Mike, A big thanks to you and your team! The online process was super easy, everything went as planned and you guys were great at frequent communication, putting us at ease throughout the entire refi. We will certainly contact you in the future if we need anything else mortgage related and will spread the word to our friends and neighbors if the topic comes up.

Brad Chandra B. – 4/13/2016

Brent did an outstanding job for me, kept me up to date every step of the way. I have already passed on his information to two potential buyers because of Brent and his team.

Branden H.- Grand Rapids,MI | JUN 2016

Mike and his team were fantastic! Nothing but positive feedback.

William B. – 4/19/2016

Wonderful experience from start to finish!

Marianne B. – Grand Rapids, MI | JUL 2016

Trust me. They did A LOT for us, when me and my husband went to obtain a mortgage. Kept us in the loop and to close as fast as we did with this crazy market we were VERY pleased. It was harder to get an accepted offer than to get a mortgage and go through the mortgage process.

Sara B. – Funded 5/31/2016

Brent did an amazing job at getting the loan and the amount just right for us. He even worked on the weekends continuing to coach us through this process as if was our first home purchase. I will definitely recommend Brent to all our friends and family that are looking to purchase a home with a knowledgeable and friendly Broker such as Brent.

Ryan C.- Denver,CO | JUN 2016

Mike made the process very easy from day one. This is my first home purchase and he walked me through the entire process.

Douglas R. Funded 6/15/2016

Mike Alkema did a great job. He was there to answer questions for me at any time. He was very knowledgeable and helpful in this process. I think that the communications from Guaranteed Rate could be a little more streamline. It seemed like we were a bit bombarded with emails from 3-4 people at times, and it became a bit muddy. Other than that, it was great.

Kyle D. June 2016

Mike Alkema did a fabulous job getting my mortgage refinancing done. He was always very responsive to any questions or concerns. It became clear to me early on in the process that Guaranteed Rate has an exceptional team of professionals working hard to get my loan through to conclusion. I would definitely use them again for my mortgage needs.

Joshua R. 07/08/2016

Great follow up and attention to detail by the entire team. Very positive experience. Thank you.

Trace R. – 9/8/2016

About

Our Grand Rapids branch began originating loans in the area in 2014. We are happy to call this beautiful area our home, with the Grand River and our proximity to Lake Michigan, it’s no wonder this city tops the charts in the housing markets! We know that all types of loans, including Conventional Purchase, Jumbo, Condo, FHA and RD, are important to you in our market. We are not only dedicated to meeting those needs, but also are armed with a full array of loan products, so that we can meet all of your lending needs. Everything begins and ends with our clients. Our motivation is to identify where they are at in life, where they want to go, when and how they want to get there. We help guide them to their goals by giving expert advice and consultation.

We are proud to have Guaranteed Rate’s World’s First Digital Mortgage at our disposal. This is invaluable to both clients and realtors. It saves them so much time knowing that their documents are protected and secure, they get automatic answers, their credit scores and pre-approved quickly.

At Guaranteed Rate, you will find that we strive for the industry leading value proposition for our loan officers, referral sources and customers, which is why we work by a set of Core Values. While each of these are important to our success, our office embodies the “Deliver Results” core value. We do what we say we are going to do, on time, with perfection.

Here in Grand Rapids, we have a work hard, play hard mentality. We put the customers first, and love to reward our team for doing so – we hold events for our team almost every week. Each year, we look forward to our local events, especially Art Prize, the largest art contest in the world. We also love to cheer on our local teams, Grand Rapids Griffins Hockey and the West Michigan White Caps!

While it is important that our office has fun, we are also dedicated to giving back. We raised about $15,000 for Elle’s Place, an organization that helps children and families deal with the loss of a parent or close relative. We are always interested in learning about new ways we can give back to our community!

It is our branch’s goal to be the #1 lender in the Grand Rapids market and as a result, we are looking to exponentially grow our production this year. We even began hosting our own GR Palooza, an event to get out name out around town. So, if you’re looking for new career opportunities, start with us! We hire the best of the best and are looking for team members that gravitate toward our core values and have the inner fire to do better than they did the day before. We’re looking to build a team like the Michael Jordan-Chicago Bulls. Come grow with us!

FHA 203k mortgage facts

Find out more about the FHA’s 203k mortgage loan, one of the most competitive and innovative financial tools available.


Homes: Sammamish, WA #mortgage #amortization #calculators


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Why use Zillow?

Zillow helps you find the newest Sammamish real estate listings. By analyzing information on thousands of single family homes for sale in Sammamish, Washington and across the United States, we calculate home values (Zestimates) and the Zillow Home Value Price Index for Sammamish proper, its neighborhoods, and surrounding areas. There are currently 203 for sale listings in King County WA zip codes. including condos. bank owned homes. short sales. townhomes. duplexes. land and luxury listings. If you’re looking to rent in Sammamish WA. check out our extensive list of luxury apartments and townhomes. We make it easy to find your dream home by filtering home types, price, and size. Filtering with keyword search is also possible, like “waterfront” or “sitting rm ” homes in Sammamish.

Cities Near Sammamish

ZIPs Near Sammamish

Disclaimer: School attendance zone boundaries are supplied by Maponics and are subject to change. Check with the applicable school district prior to making a decision based on these boundaries.


FHA 203k Loan Lender – Your Home Renovation Solution #mortgage #affordability #calculator


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Your 203K Loan Connection

What is an FHA 203K Loan?

Basically, it’s an FHA loan to purchase or refinance your home with additional funds for your home improvements. FHA which stands for Federal Housing Administration (FHA) is a mortgage insurance and is part of the Department of Housing and Urban Development (HUD). HUD or FHA do not make direct loans to consumers (homebuyers or homeowners) but FHA does insure loans that are funded by approved FHA lenders. FHA insures different types of home loans which one of them is the 203k that is used to rehab properties. The more popular version though is the FHA 203b which does not include funds for rehabilitation.

That is what makes an FHA 203k Loan different:

Most mortgage financing plans won’t provide funds to close unless the condition and value of the property are adequate enough to secure the loan. This means that the lender usually requires that improvements be made before a long-term mortgage is made. This is where the 203k loan comes into play because those improvements can now be made after the mortgage loan closes.

What Are The Types of 203K Rehab Mortgages?

There are two types of 203(k) rehabilitation Mortgages: The Standard 203(k) and the “Limited” also known as (AKA) a Streamline 203k

The Standard 203(k) Mortgage may be used for major remodeling, repairs and structural changes with a minimum repair cost of $5,000 and the use of a *203(k) Consultant is required.

The Limited 203(k) AKA Streamline may be used for cosmetic improvements, appliances and minor remodeling. The total rehabilitation cost must not exceed $35,000 and there is no minimum rehabilitation cost

*For more info about the 203K Consultant download the Free FHA 203K Guide.

What Are The Benefits of Using An FHA 203k Lender?

Many lenders offer FHA loans but the list of Lenders who offer FHA 203K Loans is short. Your best bet is to find and work with an FHA 203k Lender who is knowledgeable and experienced to guide you through the process. An FHA 203k lender can also do Regular FHA loans without renovations so working with a 203k Specialist will allow you to have additional FHA financing options without having to start the process over again.

How About FHA 203k Rates?

203k Rates in comparison to a regular FHA 203b loan without rehabilitation funds can be slightly higher but minimal. If you take into consideration the advantages of having one loan to purchase or refinance with additional funds included for home improvements with minimal down payment or equity it is quite attractive compared to any other alternative.

What Are 203k Loan Requirements?

203k Loan Requirements such as credit, income, down payment etc. are similar to the more popular standard FHA 203b loan that doesn’t provide funds for home improvements. Both have flexible guidelines with minimal down payment than most any other type of loan available. The difference between the two is that the FHA 203K will allow for the repairs, rehab or remodeling of your home to be included into the new loan while the Standard FHA 203B won’t.

Why You Might Be Here :

  • The condition of your property won’t qualify for traditional financing
  • The condition of your property just isn’t to your liking
  • The lender you are in contact with does not offer or have experience with renovation 203k loans
  • You just heard about this type of loan through maybe a Real Estate agent, another lender or someone you know

What Will You Do With the FHA 203K Loan

Has the idea of making your home your way perked your interest?
Talk to a 203K Specialist for YOUR area for more details or to get started.

Want to read more about FHA 203k’s? Then check out the 203k blog where you can find more general information on requirements, guidelines, credit scores, appraisals, rates, closing cost, down payment and more on the opportunities and options when using this type of financing.

Ask A 203K Lender

Do you have a specific question or scenario you would like answered directly by your renovation loan specialist? Then just go to your state page where your property is located for answers. Or, for a general question you can’t find the answer to, on the 203k Mortgage Lender site, then feel free to post it at the “Ask A 203K Lender” blog page.

Lenders Originators

Would you like to find out how you can be listed on the 203k Lender Directory?

Contact us for more information at :


Mortgage One #bac #mortgage


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The latest in Government Programs

The Federal government insures many low down payment programs including FHA, VA and Rural Development Loans . Mortgage 1 has vast experience in government loans. Contact us today.

Buying a new home?

Buying a new home is one of the largest investments most of us will ever make. When you need information, the Mortgage 1 Team is there to help you along the way. We are always a call or click away, please contact us anytime.

When you’re ready to start, we can help

Buying a home is one of the most important decisions in your life, regardless if it is your first time buying a home. There are many factors to consider such as price, location and what type of mortgage is right for you. We can help.

We make buying your first home simple!

Mortgage 1 offers a multitude of first time buyer programs. Have questions? Just ask, we are here for you. Contact us for more information. Read More.

Refinance, when is the best time?

With interest rates at historic lows for almost 9 decades, now is a good time for a mortgage update. This is always a free service. Contact us today. Read More.

The Conventional Loan

A conventional loan is a mortgage that is not guaranteed or insured by any government agency, including the Federal Housing Administration (FHA), the Farmers Home Administration (FmHA) and the Department of Veterans Affairs (VA). It is typically fixed in its terms and rate. Other Programs

The Conforming Loan

A conforming loan is any loan that meets the criteria and limits set forth by the two largest buyers of loans, Fannie Mae and Freddie Mac. Loans come in two types – conforming and non-conforming. In order to fully understand the difference, you first must know a little bit about Fannie Mae and Freddie Mac. Other Programs

The Streamlined 203(k) Program

FHA’s Streamlined 203(k) program permits homebuyers to finance up to an additional $35,000 into their mortgage to improve or upgrade their home before move-in. With this new product, homebuyers can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or FHA appraiser. Other Government Programs

Reverse mortgages (also called home equity conversion loans) enable elderly homeowners to tap into their equity without selling their home. The lender pays you money based on the equity you’ve accrued in your home; you receive a lump sum, a monthly payment or a line of credit. Repayment is not necessary until the borrower sells the property, moves into a retirement community or passes away. When you sell your home or no longer use it as your primary residence, you or your estate must repay the cash you received from the reverse mortgage plus interest and other finance charges to the lender. Learn More Other Government Programs

The HomePath Mortgage Financing

This special financing is available on Fannie Mae homes with the HomePath logo. Several benefits include low down payment and flexible mortgage terms, qualifying if your credit is less than perfect plus down payment (at least 3 percent) can be funded by your savings; a gift, a grant, or a loan from a nonprofit organization, state or local government, or employer. This unique financing also requires no mortgage insurance or appraisal fees. Other Programs


Arbor Mortgage in Grand Rapids, MI 49546 #daily #mortgage #rates


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Find a local business

Arbor Mortgage

Why Arbor Mortgage?

We are a leading mortgage company in Michigan, Indiana and Minnesota.

If you are interested in purchasing a new home, the Arbor Mortgage SmartBuyer program can qualify you for a loan before spending any time or money, and help you take advantage of low interest rates, affordable purchase prices and specialized loan programs for first time home buyers from one of the premier mortgage companies in Michigan.

If you are interested in refinancing an existing mortgage, the Arbor Mortgage RapidRefi will do it quicker than the rest.

Refinancing can allow you to lower your interest rate and monthly payment. You may also consolidate your debt or access cash from the equity in your home.

The FHA Loan Center can help you take advantage of loans that are insured by the Federal Government. These loans offer benefits and protections that many others do not. Of all the mortgage companies in Michigan, Indiana, and Minnesota you can count on us!

What the community has to say about Arbor Mortgage

Information about this business (5 )

Real Estate Mortgage Loans FHA, VA, USDA, Conventional Loans, Fannie Mae, Freddie Mac, Purchase or Refinance

Posted on January 27, 2015. Brought to you by yahoolocal.

Arbor Mortgage believes that “Life is Hard. Financing your dream home shouldn’t be.” Arbor Mortgage has helped over 20,000 people finance their dream homes. Arbor Mortgage is a HUD approved FHA lender and the #1 mortgage lender in West Michigan.\n\nWhether purchasing or refinancing your home, Arbor Mortgage can help with the SmartBuyer or RapidRefi programs. Arbor specializes in government and.

Posted on February 13, 2013. Brought to you by yellowpages.

Arbor Mortgage is a Grand Rapids, Michigan based mortgage company with 3 locations in Grand Rapids, Petoskey and Fort Wayne, Indiana. Since 1998, Arbor Mortgage has been providing tailor made mortgage solutions to clients for purchasing or refinancing their dream homes. Arbor Mortgage is a HUD approved FHA Lender and the #1 FHA lender in West Michigan. Arbor specializes in FHA, USDA, VA, Fannie.

Posted on February 13, 2013. Brought to you by superpages.

Other reviews from the web (18) view all

Average Rating 100

I was very impressed with the team at Arbor Mortgage. Billie was very available, efficient and answered questions with clarity. The team there worked extra hard allowing me to close over a week earlier than … I was very impressed with the team at Arbor Mortgage. Billie was very available, efficient and answered questions with clarity. The team there worked extra hard allowing me to close over a.

Posted by Joseph on October 30, 2013. Brought to you by yahoolocal.

Average Rating 100

As I was promised the day I decided to go with Arbor Mortgage, the process could not have been easier. I barely had to do anything and that was in addition to the best interest and closing cost options (I … As I was promised the day I decided to go with Arbor Mortgage, the process could not have been easier. I barely had to do anything and that was in addition to the best interest and closing.

Posted by Mary on October 19, 2013. Brought to you by yahoolocal.

Business description (7) view all

Arbor Mortgage Corporation was founded in 2000. The company is located in Grand Rapids and incorporated in Michigan. Arbor Mortgage Corporation specializes in Mortgage Brokers Arranging For Loans, Using Money Of Others.

Posted on May 04, 2016. Brought to you by dandb.

Arbor Mortgage offers a range of mortgage products and services. It offers mortgage solutions for various purposes that include new home purchase, bankruptcy avoidance, debt consolidation, home improvements and home mortgage refinancing. The firm also offers loans for making payments for bills, land contracts, collections, divorce settlements and taxes. It also offers loans for settling credit.

Posted on April 06, 2015. Brought to you by mapquest.