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How to Apply For A Mortgage in Michigan

How to Apply For A Mortgage in Michigan
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How to Apply For A Mortgage in Michigan

How to Apply For A Mortgage in Michigan

Things To Remember If You Apply For A Mortgage in Michigan

Owning that perfect house can be a reality. However, not many people have hundreds of thousands of dollars laying around. The solution is simple: apply for a mortgage. A quick application is all it takes to get started towards financing your dream home in the Metro Detroit, Michigan area. We work extensively in Ann Arbor, Royal Oak, Birmingham, Plymouth and Dearborn.

Applying for a mortgage and getting your loan can difficult without the help of proper guidance. There is much that has to be disclosed to the mortgage company before the loan is approved.

Good Credit Scores Means Easy Mortgage

Lenders will not usually approve a loan unless the applicant has a good credit standing. Unless your score is above 600 it usually doesn’t make sense to apple for a mortgage. The credit score of the applicant must be good enough to convince the bank that they will get their money back. If the applicant happens to be paying his monthly bills well on time and has even paid off some of the debts; then it becomes more likely that the loan would be approved and the buyer would be able to purchase a home.

Make Sure The Papers are Ready

Make sure all the papers that are required are ready. The lender will require the applicant to show proof of income and assets. The usual documents needed include the last two pay stubs (covering 30 days), the last two W-2 annual earning statements, and the last two months bank statements. Showing the lender the latest debt information is also helpful, but will also be located easily on the credit report, which should include creditor’s contact details, the outstanding balance and account number. This will help the applicant get one step closer to purchase his dream home.

Mortgage Pre-Approval

Securing a mortgage pre-approval is a good idea. It is a verification that based on the initial documents provided that everything looks good and that the loan has a high likely hood of closing. Good real estate professionals (agents and brokers) always advise the applicant to secure pre-approval before submitting an offer.


Matt Demorest, President

Matt is the President and Founder of HomeSure Lending. He has extensive experience working in mortgage, finance, business development, business operations and non-profits. Matt holds a Masters Degree in Youth Ministry Leadership. NMLS #1011726

All stories by: Matt Demorest, President

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