How Do You Know What Type of Home
Loan in MI is a Fit for Your Needs?
With so many options available, there is a ideal type of mortgage for every MI homebuyer. But you may not know how to choose the right type of loan.
You need to consider two factors:
- Your qualifications
- Your goals
Qualification criteria that determine the types of mortgages and rates you are eligible for include you credit score, DTI ratio, income, down payment ability, employment status, and military service record (if applying for a VA loan).
As far as assessing your goals, you should ask yourself questions such as, “How long will I live in this house? What is my monthly budget?”
We can help you figure out which questions to ask during your consultation. We have walked many homebuyers through the process of finding the right loan.