Southeast Michigan Real Estate and Community News- Livingston, Oakland and Wayne Counties.
You will find our blog to be a wealth of information, covering everything from local market reports, home values, tips on buying and selling a home, and community events. We are hoping that you find our website to be filled with information and we become your "go to" website!
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As always if you are looking to sell or buy, we are your people! Contact Michelle Payne at The Payne Team!
Brighton, Michigan is a relatively small, but exquisite city located in the southeast portion of Livingston County. Being set into the heart of the Great Lakes region, Brighton is home to several serene lakes and rivers and consists of stunning parks and countryside. There are miles of gorgeous landscapes surrounding the city and is therefore an ideal home for anyone who loves to get away to the peace and quiet.
Located approximately 30 miles outside of Detroit, Michigan, Commerce Township is a picturesque location, ideal for any nature-lover or outdoor enthusiast. Surrounded by rolling hills, grand forests, and vast rivers and lakes, Commerce is the perfect area for anyone looking for that quiet oasis outside of the busy city life.
Though the area is nestled far enough from the business of the Metro Detroit area, it is still close to many of the area's amenities, restaurants, shopping locations and more. Well rated schools, parks, recreation areas, lakes and more are dotted throughout the township providing residents with all they could want or need.
Credit is of course on of the main factors when applying for a mortgage to purchase a home. Having good credit will give you the best opportunity for the best rate and terms.
However, there are many programs in place now that would allow you to obtain a mortgage for a home even if you have challenging credit or have had discrepancies in the past.
With these programs you can get a mortgage with a credit score as low as 530, and even as low as 500, if you can provide the down payment.
Programs that will you give you an opportunity to buy a home
An FHA loan will provide the buyer with the opportunity to obtain a mortgage with challenging credit and still allows you put as little as 3.5% percent down for your down payment.
A VA Loan program is for veterans! Veterans can obtain a mortgage with a 500 credit score and recent bankruptcy's. The VA Loan also allows veterans to get into a home with zero down.
A Reverse mortgage is set up for anyone over the age of 62. A reverse mortgage gives you the opportunity to obtain a mortgage for home and you are not required to make monthly payments. If you have challenging credit and are on a fixed income, the Reverse Mortgage may be of help to you.
Having good credit is definatly a plus and will give you the best opportunity for obtaining a low interest mortgage. However, the answer to the question "Do I need good credit to buy a house?" is absolutely not!