News Archives - Page 6 of 11

June 2, 2020

11 Mortgage 1 loan officers were recognized as MHSDA top performers in 2019.

Mortgage 1 Loan Officers Recognized as MSHDA Top Producers for 2019

Eleven Mortgage 1 Officers Among the Best in the State We’ve always said Mortgage 1 has the best loan officers in Michigan. Now it’s confirmed. Eleven Mortgage 1 loan officers were recognized recently by the Michigan State Housing Development Authority (MSHDA) as “top producers” for […]

August 8, 2019

What Is Debt-to-Income Ratio and Why Is It Important?

Debt-to-Income Ratio Your debt-to-income (DTI) ratio is the percentage of your income that goes toward paying your monthly debts. DTI can often be overlooked as many people assume that a good credit score and a high income are the only two factors needed to be […]

July 27, 2018

New Condo Financing Options

New Condo Financing Options Mortgage 1 has expanded the guidelines their Condo financing options. A condominium complex can be grouped into one of two mortgage categories warrantable and non-warrantable. A condo complex is considered non-warrantable when they fail to meet criteria by Fannie Mae and Freddie Mac to […]

June 29, 2018

Loan Terminology

Loan Terminology can be confusing. Here is a list of terms that are used in the mortgage industry that may not be used in everyday life. Amortization Amortization is the payment of a debt in equal installments of principal and interest. Appreciation Appreciation is the […]