News – Page 6 – Mortgage 1 Inc.

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 […]

June 1, 2018

Michigan Veterans will now have an easier time purchasing and financing single-family homes using a VA mortgage.

Michigan Veterans VA Mortgage Options

A rule change in Lansing provides great news for Michigan Veterans that are dreaming of a new home. The statement from the Veterans Benefits Administration reads: Effective immediately, site condominiums in the state of Michigan will be processed in the same manner as a single-family […]