Your Local Michigan Mortgage Specialists

Offer Accepted!

July 8th, 2021 by Inlanta Staff

One most exciting phrases to hear for homebuyers purchasing during a seller’s market is, “Offer Accepted”.

If you are in the market searching for your next home, vacation home or investment property you know that the mortgage pre-approval is the first and most important step in the process.   The pre-approval process is even more important during a seller’s market to ensure the Seller’s Agent and Seller’s themselves are confident in the strength of your approval. Read the rest of this entry »


What do you need to know about homeowners insurance?

February 15th, 2021 by Ima Admin

Homeowners insurance protects your home and personal property as well as your liability from accidents that injure others or damage their property.  There are various coverage levels and costs which is where things can get complicated.
Read the rest of this entry »


New Hybrid EClosings!

July 15th, 2020 by Inlanta Staff

We are excited to bring you our new Hybrid Mortgage EClosing.  This process allows us to further practice social distancing by having most of the closing documents signed electronically, continuing a smooth and efficient mortgage process.  E-documents are reviewed in advance with any questions answered and the time spent in-person at the title company is greatly reduced. Read the rest of this entry »


Shifting Mortgage Loan Products

July 2nd, 2020 by Inlanta Staff

The Coronavirus (COVID-19) has had many affects on the mortgage lending industry, but these are not unfamiliar adjustments. The industry had experienced similar overnight changes during early 2008. The difference this time is not a housing bubble, but a global health crisis.

COVID-19 caused immediate layoffs and slowing of the economy requiring mortgage lenders to quickly adjust with lending restrictions, additional verifications and even Read the rest of this entry »


Buying a Home During COVID-19

April 22nd, 2020 by Inlanta Staff

We are living through challenging times that will one day be found in history books throughout the world.  In Michigan, the Stay at Home Order was just lifted on June 1st.  This order caused non-essential workers to be home more then ever before and many are realizing their current space is too small, their layout is not functional, there is not enough storage, they are sick of paying their landlord or listening to their neighbors through paper-thin walls to name a few complaints.  So, why not use this extra time to look at buying a house that will bring some joy back to being at home?

There is no better time to start looking at options for purchasing a new home, but is it possible to buy a home right now?

Some general facts you need to know before getting started in the home buying process during the COVID-19 outbreak:

  • You must be willing to embrace technology.
  • Mortgage Lenders are considered essential and are closing mortgage loans every week for purchases as well as refinances.
  • Every individual situation must be evaluated as there is not a one-size-fits-all option.
  • It is OK to get started by creating a home buying plan, but NOT purchase right away if you are uncomfortable with current conditions. Your safety and confidence are of utmost concern when purchasing a home.

Read the rest of this entry »


Real Talk on Mortgage Forbearance

April 10th, 2020 by Inlanta Staff

These are trying times with many Americans facing illness, mental and emotional fears topped off with financial pressures.  It is important to have a clear understanding about Mortgage Forbearance before making decisions.

 Mortgage Forbearance IS NOT Forgiveness

The Care Act has been passed by the government to all for “Federally Backed Mortgages” to request a forbearance on their mortgage payments for up to 6 months, depending on the individual situation.  So what is a forbearance?  A forbearance is an agreement with your mortgage servicer to reduce or delay regular payments for a set period of time.  When the forbearance period ends payments will be due as agreed upon in the forbearance agreement.

For those in a position where you have no ability to pay your mortgage a mortgage forbearance could be exactly what you need to keep your home and manage through this crisis.  It is imperative to explore ALL other alternatives as this IS NOT a handout from the federal government.

The process for which forbear mortgage payments will be made up is going to depend upon the mortgage servicer and their policies.  In some instances once the 6 months are up the next payment will be due as usual as well as ALL 6 payments that were put into the Forbearance.

If you are in a situation where payments will be missed and need help, contact your mortgage servicer because you must request forbearance; it is not automatic.  Make sure to do the following:

Read the rest of this entry »


Springtime TOP 10 Home Maintenance Checklist

March 23rd, 2020 by Inlanta Staff

Spring is here.  Seasonal Home Maintenance Time!

Your home is your largest investment and regular upkeep can lead to higher value in the future.  This Top 10 Spring Cleaning  List will keep your home well maintained, helping to save you from costly repairs in the future.

  1. Clean windows inside & outside
  2. Clean all screens, replacing or repairing any damage
  3. Visually inspect roof for missing, loose or damaged shingles
  4. Remove debris from gutters & downspouts
  5. Power wash windows & siding
  6. Touch up/repair damaged paint
  7. Fertilize your lawn
  8. Replace batteries in smoke & carbon monoxide detectors (check expiration dates on these as well)
  9. Change filter in furnace, air conditioner and dehumidifier
  10. Have airflow vents cleaned

Get our complete home maintenance checklist with additional tips and tricks below:

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    We’re Here For You

    March 19th, 2020 by Inlanta Staff

    During these uncertain times, Inlanta Mortgage is here for you.

    Like so many of you, we have spent the last several days and weeks learning about COVID-19 and how it is impacting our world. For Inlanta Mortgage, that means understanding how it affects our customers, referral partners, employees and communities, and then making the necessary adjustments to our day-to-day operations.

    With the state-mandated shut-down of businesses, we want to assure you that Inlanta Mortgage will remain fully operational and working on your loans as we are included in the list of essential businesses providing banking and financial services.

    We have taken proactive steps to put your safety as our highest priority, while maintaining the high productivity of our business operations. We are committed to providing you with the same high level of service, and continuing to close loans as we always have – on time and without surprises.

    With that in mind, we have made several adjustments to our business:

    • Our Ada office is closed with employees working from their home offices.
    • We continue to assist clients and partners via phone, email, chat, our IMhome app or an online meeting. We are prepared and able to operate as we always have in order to keep all loans on track.
    • We have canceled all large meetings, as well as our community events and seminars, in an effort to do what we can to help prevent the spread of the illness.
    • We are closely monitoring the situation and will continue to respond as necessary to keep everyone safe.

    We are grateful to have some of the best technology available to keep things moving without interruption.

    We know this is a difficult time for everyone and we thank you for your trust and continued loyalty.


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    For additional information about COVID-19 and actions you can take to help protect yourself, please visit a trusted resource such as the Centers for Disease Control and Prevention at cdc.gov.

     

     


    Our Top 10 Michigan Attractions

    March 1st, 2020 by Inlanta Staff

    Michigan is a state full of life and a love for the outdoors, arts, food, beer, and wine!  Each city is a unique experience of landscapes, cultures, and year-round events.  Here are our top 10 attractions that are at heart, “Pure Michigan”.

    This is just a short compiled list of some of our favorite attractions:  Read the rest of this entry »


    Refinance Options When Rates Are Low

    February 19th, 2020 by Ima Admin

    Is It The Right Time to Refinance Your Michigan Mortgage Loan?

    The answer to that question really depends on your unique personal circumstances. That’s why while Inlanta Mortgage offers many options to help Michigan homeowners lower their mortgage rates or free up cash for renovations, college tuition or other important life events, we always recommend talking to one of our S.M.A.R.T. mortgage specialists before you apply.

    When you refinance your home, you are paying off an existing loan with proceeds from a new loan. Generally, when you refinance you are taking advantage of improvements in your credit, built-up equity, changes to terms, or drops in market interest rates. Benefits of refinancing can include lowering your current payment, changing the term of your loan to raise or lower your amortization length, or borrowing against the equity in your home to get cash out.

    With today’s historically low interest rates, many people find it beneficial to refinance to take advantage of great rates or to shorten the amortization period of their mortgages to reduce lifetime interest paid. Those not looking to cash out some of their equity will find our Streamline refinance options fast and easy.

    For homeowners looking for home improvement cash, there are unique types of home loans designed specifically for renovation. There are also several types of general cash-out options. When rates are low, it can make sense to do a home refinance instead of a homeowner line of credit because you are also lowering your rate or amortization length (if desired). A new mortgage is often the most cost-effective approach to financing major projects that carry a long depreciation life and improve your home, such as swimming pool construction, a lifetime roof, or a long-term energy efficiency project like implementing geothermal heating.

    Team Arnold and Team Ferrick will help you select the best option for your purpose. The following is an overview of options available for refinancing your mortgage loan. Talk to us about your goals to find the best fit. Determining the right refinance option for you will in part be determined by the type of home loan you currently have, your LTV (loan-to-value) ratio in the case of cash-out refinancing, and the current value of your home according to an appraisal.

     

    Regular Refinance Options

    • Conventional Refinance
    • FHA Refinance
    • VA Refinance
    • USDA Refinance

     

    Streamline Refinance Options

    No-appraisal streamline refinances are used solely for the purpose of lowering the monthly mortgage payment. In other words, you don’t have the option of cashing out equity under the no-appraisal program.

    • FHA Streamline Refinance – In order to refinance using the FHA Streamline Refinance program, your mortgage must already be FHA insured. The mortgage to be refinanced should be current (not delinquent). The refinance is to result in a lowering of the borrower’s monthly principal and interest payments. No cash may be taken out on mortgages refinanced using the streamline refinance process. Contact a mortgage loan professional at Inlanta Michigan to discuss FHA Streamline Refinance opportunities.
    • VA Streamline Refinance  – otherwise known as an IRRRL. This program lowers your interest rate by refinancing your existing VA home loan. No appraisal or underwriting package is required when applying for an IRRRL. An IRRRL may be done with “no money out of pocket” by including all costs in the new loan or by making the new loan at an interest rate high enough to enable the lender to pay the costs.

     

    Cash Out Refinance Options

    Access the equity in your home and get cash that you can use to meet all kinds of financial goals. The existing mortgage and any liens on the property are paid off and replaced with a refinanced mortgage.

    • Conventional Cash-Out Refinance
    • FHA Cash-Out Refinance
    • VA Cash-Out Refinance

    FHA 203K Rehabilitation Loans

    FHA 203K Rehabilitation loans are an important tool for community and neighborhood revitalization. The 203K program offers borrowers the resources to rehabilitate a home that may be in need of repair. Borrowers have the option of refinancing with a 203K loan in order to make improvements on their existing residence or to purchase a new home in need of repairs.

    HomeStyle® Renovation Loans

    The HomeStyle® Renovation Loan program allows a borrower to renovate, repair, or improve a home or investment property. HomeStyle® combines a home purchase or refinance with home improvement financing in one loan with one closing. HomeStyle® renovation loans let you customize a home to your liking or make needed repairs.

     VA 100% Cashout Refinance VA’s

    VA’s Cash-Out Refinance Loan is for homeowners who want to take cash out of your home equity to take care of concerns like paying off debt, funding school, or making home improvements. The Cash-Out Refinance Loan can also be used to refinance a non-VA loan into a VA loan. VA will guaranty loans up to 100% of the value of your home.

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