Housing is an important part of our Allen Park economy because of the myriad amounts of associated products and services it requires. Examples are appliances, flooring, fixtures like lighting and plumbing, roofing and windows to name a few. Therefore, as reasoning goes, it is in the best interest of the Allen Park and national economy to make homeownership available to as many people as possible. When I bought my first house in 1971, I used the Veteran’s Administration mortgage. This was an opportunity for me to get into a house with the least amount down with this type of mortgage. The mortgage lender allowed me to ask the seller to pay my closing costs and also any “points” that were required at that time. To the dismay of the seller and unknown to me at the time, “points” changed at the last minute and caused an increase to the amount of money the seller had to set aside to cover the cost of originating my mortgage.

Today, in Allen Park it is more common to lock rates at application time or depending on your mortgage loan officer, monitor the rates daily in order to capture the best rate available. Also today, or before the current foreclosure crisis, many more Allen Park mortgage options and products are available. Allen Park mortgage lending has become a very complex adventure even for the most experienced purchaser. If you have questions please feel free to ask. If I don’t know the answer I’ll send you to a person who can.

Posted on Monday, January 19th, 2009 at 3:54 pm and is filed under Mortgage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.