Michigan Mortgage News

A remodeled kitchen, converted garage, or added bedroom can make a home look more appealing. But a beautiful renovation does not always tell the full story. If work was completed without permits that were required locally, buyers may encounter questions during the appraisal, inspection, or mortgage approval process.

Finding a property with two houses can feel like discovering a bonus. The smaller home might provide space for relatives, visiting friends, or future rental income. Before making plans, however, buyers should understand that financing a property with two residences may be different from financing a typical single-family home.

Inflation numbers are in and came in much higher than expected. Even the core inflation numbers for both reports were higher than anticipated. Core inflation is intended to exclude some of the most volatile components, including food and energy costs, painting a picture in which the Federal Reserve will need to continue its tightening measures until inflation is under control.