Michigan Mortgage News

The FOMC rate decision has been announced, and the Federal Reserve has decided to keep interest rates unchanged. In a press statement, the Federal Reserve stated that inflation risks have eased in recent months.

A home's advertised square footage can influence which properties buyers tour, how they compare asking prices, and what they expect from an appraisal. But the number in a real estate listing is not always the same as the living area reported by a mortgage appraiser. Differences can occur even when nobody intended to provide misleading information. Understanding why can help buyers evaluate a home more accurately.

A detached garage can be a major selling point. It may provide covered parking, extra storage, or room for hobbies and projects. But buyers sometimes assume that every square foot of a detached structure adds value in the same way as living space inside the house. During a mortgage appraisal, the analysis is more specific. The appraiser looks at the structure's condition, function, and contribution to market value.