The forgotten loan.  Everybody is leaning toward FHA loans these days due to the lower down payment and easier credit standards.   

However, there still are many circumstances in which this loan is the right choice for you. Basically if you have excellent credit (740 mid score and above) and have 10% or more to put down.

The benefits are:

• a slightly better interest rate

• Avoiding the Up Front Mortgage Insurance fee that all FHA loans require. This is 1.75% of the loan amount. That can be a significant savings.

• If you put 20% down, you can also avoid paying the monthly PMI that you will have to pay when taking out an FHA loan. You will have to pay the monthly mortgage insurance for an FHA loan even if you put 20% down. Not so with conventional loans.

It pays to have a mortgage expert in your corner to help sort through which program best suits your particular needs. That is why people in Michigan come to us. We are the mortgage experts in Michigan.

We not only provide you with the best financing available anywhere, we take pride in working with all our clients by ensuring they have a very pleasant and professional experience from the first phone call through to the closing…and we help them with any questions or actions after closing. Our service does not stop after the close. We strive to have customers for life. In fact, most of our business comes from referrals from satisfied clients and the realtors they work with. Ask us about our We’ve Moved postcards. A very popular FREE service we offer after the closing.

At LoanMichigan, as you may have guessed, we ONLY DO LOANS IN MICHIGAN. We are dedicated to helping the residents of this state help themselves to the best lending options in the country and utilizing all the resources available to them. We are familiar with all the benefits and issues particular to lending in the state of Michigan.

Often times in Michigan, you may have trouble with the appraisal on a purchase or refinance transaction. Being a Michigan based and Michigan only mortgage company, we know the best ways to navigate around appraisal issues. It can be the difference between closing and not closing in many cases.

We are conveniently located in both Royal Oak and Plymouth Michigan. If it is inconvenient for you to meet at one of our offices, we will come to you if possible. Customer service is very important to us. Although all transactions can be completed via phone, email and fax, we prefer to meet out clients face to face and create a more trusting relationship. Whatever the case, call us TODAY!! You will be in good company.