2023 CONFORMING LOAN LIMITS FOR MICHIGAN (MI)

2023 Conforming Limit Michigan counties is $726,200 and for 2-unit properties is $929,850 See below the list of all 2023  Conforming Limit Michigan counties for 1, 2, 3, and 4 Unit properties. 2023 Conforming Loan Limits for Alcona County 1  Unit – $726,200 2 Unit – $929,850 3 Unit – $1,123,900 4 Unit – $1,396,800 2023 Conforming Loan Limits for Alger County 1  Unit – $726,200 2 Unit – $929,850 3 Unit – $1,123,900 4 Unit – $1,396,800 2023 Conforming Loan Limits for Allegan County 1  Unit – $726,200 2 Unit – $929,850 3…
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Sink or Swim, Locking vs. Floating Your Mortgage Rate

Does locking your mortgage rate make sense? Or should you have a floating rate so you can take advantage of a rate drop?   Here are a few things to keep in mind as you weigh your options. But first, let’s talk about what these terms mean.    Locking Your Mortgage Rate vs. a Floating Rate When you apply for a mortgage, the lender will ask you early on if you want to lock in your rate. They’re essentially saying you can finalize the interest rate you’re willing to pay. From that point…
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California Mortgage Pre-approvals from one month back are worth nothing

It's time to revisit the pre-approval amount that you qualified for your mortgage application, if that was done more than 2 weeks back.  The biggest reason - the mortgage rates have spiked by ~.75% in just over 4 weeks. Last week Freddie Mac released the results of its Primary Mortgage Market Survey, which found that both fixed- and short-term mortgage rates continued to rise.  This was the fifth week in a row where fixed-rate mortgage rates were up. 30-year fixed-rate mortgage averaged 4.83 percent with an average 0.7 point for the week ending…
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