Michigan Mortgage News

A home can look perfect during a showing, but certain features of the property may create questions when it comes time to secure a mortgage. One situation buyers may not anticipate is purchasing a home that shares a septic system with another property.

The FOMC Minutes and Consumer Sentiment report were the most impactful calendar items last week, further reinforcing the Federal Reserve's resolve to bring inflation down to its 2% target rate.

Buying a home from a parent, grandparent, sibling, or another relative may seem easier than purchasing from a stranger. You already know the seller, may know the property's history, and might even agree on a price without extensive negotiations. But the family relationship can introduce mortgage considerations that are different from those in a typical purchase between unrelated parties.