Michigan Home Buying
Great home buying opportunities abound in the “Great Lakes” state. Michigan home buyers interested in real estate investing or the perfect family home have plenty of real estate choices thanks to a high inventory of existing homes and the development of new communities. Builders such as Spartan Homes in Southeastern Michigan and Toll Brothers in the metro-Detroit suburban area are creating new home communities in a variety of price ranges. In addition to a considerable number of available properties, local Michigan mortgage lenders and mortgage brokers are available to assist with the home purchase process.
Financing a home through a local lender requires due diligence on the borrower’s part. Michigan mortgage lenders and mortgage brokers are urging borrowers to know their credit score and understand how much house they can afford by using mortgage calculators or a home purchase calculator. Borrowers can obtain a free copy of their credit report to determine if their credit rating is a true reflection of their debt, asset and income history. Correct all inaccuracies or make updates to the credit report by contacting the credit reporting agency directly. Existing home owners should also obtain their credit score before leaping into mortgage refinance or inquiring about home equity loans.