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February 2014

Found 8 blog entries for February 2014.

mortgage loan budget Don’t let a seemingly hefty mortgage pre-approval loan amount trick you into thinking you can afford more than reality dictates. These quick tips will help you evaluate your financial standing so you know exactly how much cash is backing your home purchase:

  • Generally, the cost of your home should not exceed three times the amount of a borrower’s gross annual income.
  • Calculate Monthly Discretionary Income, which is done by subtracting the payments you make every month from your gross monthly take home.
  • Consider loan-to-value. A borrower's LTV is the cost of the mortgage loan weighed against the value of the property. If the home is worth $100,000 and you have secured a loan for $75,000 your loan-to-value ratio is 75%. Borrowers with lower LTV
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Who wants the American Dream? To be a homeowner?

If that is you, and you are a first time home buyer, there are programs for you including MSHDA. These are as little as 0% Down

MSHDA offers a variety of loans for low- to moderate-income homebuyers. All of the following loan products are 30-year fixed-rate mortgages.

Federal Housing Administration (FHA) Loan

An FHA loan is available to homebuyers who meet sales price and income limit guidelines. Down payment assistance may also be available.

Veterans Administration (VA) Loan

If you are a veteran, a VA loan may be available to help you buy a home. These loans are available to veterans who meet MSHDA’s sales price and income limit guidelines. If you have served our country, you should

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lender consultationEvery major sales transaction requires a consultation and a home purchase is no exception. Stay in control of your mortgage by asking your lender the following questions:

1.       How long will this take?

It looks harsh at first glance, doesn’t it? But in reality it’s a question that will give you a reality check. Many borrowers are bombarded with ads from lenders who guarantee closing in a certain number of days, but each loan application is different and requires varying lengths of time to process. Ask your lender for an estimate of time before you find yourself growing antsy!

  1. Will I be penalized if I pay off my loan early?

Early repayment penalties are in place because paying off a loan before its due date results in less

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happy-valentines-day-mark-z-home-selling-teamheart-mark-z-home-selling-teamValentine's Day is February 14th and celebrated around the world to recognize the love you have for that special someone or spouse. Here are a few suggestions on how you could spend the weekend with your love.


Coneys by Candelight at American Coney Island in Detroit

american-coney-mark-z-home-selling-teamFebruary 14, from 6-9 pm ~ 114 W. Lafayette Blvd., Detroit 

American coney Island has been a favorite with Detroiters and visitors for nearly a decade. Whether you're looking for a night out with your main squeeze or plan to take all your sweeties along, this Detroit restaurant offers a delicious and cost efficient meal. With the purchase of a coney dog you will receive a rose and a cupcake from Just Baked, too!

Love Gone Wild at the Detroit Zoo

love-gone-wild-mark-z-home-selling-teamFebruary 14, from

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Can you believe what your seeing? I'm Telling you I can't This is a RARE Chance!!!!

Fannie Mae is paying 3.5 of your closing cost!!!! This is more than half of your closing cost!!!!  But this program end on March 31st!!!!

Q: How much are closing cost normally?

A: Typically 5-6% of the purchase price

Q: What does this mean to you?  

A: More money in you pocket

If you are interested in finding out more, Please contact me ASAP for your list of homes that are available for this program!!!

Daryl Wizinsky



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whats in a credit score

Lenders use credit scores to assess borrower responsibility. That’s not all that goes into a mortgage application, but it’s a heavy determinant of the possibility of borrower default.

The common credit score is the FICO score. This is calculated using an algorithm developed by the Fair Isaac Corporation, hence the name. FICO scoring measures risk based on use of credit cards and past payment history.

Credit Reporting

So who makes use of the FICO algorithm? The three major credit bureaus, Experian, Equifax and TransUion use FICO scoring in order to create that special number that often makes or breaks your ability to qualify for any loan.  TransUnion scores, for example, range between 300 and 850 and is comprised of:

  • Payment history –
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Detroit: Meridian Winter Blast

winter-blast-mark-z-home-selling-teamDetroit Winter Blast ~ February 7 - 9, 2014

This will be the festival's 10th year in the heart of Detroit at Campus Martius Park, More then 100,000 people are expected to attend the winter blast. Your family will enjoy a wide range winter activities like snow shoeing, Ice Gardens, Free Ice skating, a snow slide, and a winter carnival with rides and games. The Winter Blast runs 11 am to 11 pm on Friday and Saturday, and 11 am to 9 pm on Sunday. Admission is $2.00, three can goods or nonperishable items to fight hunger in the metro area.

Cirque Du Soleil Varekai

cirque-du-soleil-mark-z-home-selling-teamJoe Louis Arena ~ February 5 @ 7:00 pm - February 9, 2014 (for available show times, please click the link)

Cirque du Soleil Varekai: Deep with a

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Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five reasons purchasers should consider buying before the spring market arrives:

Supply Is Shrinking

With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from. The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.

Price Increases Are on the Horizon

Prices are projected to appreciate by over 25% from now to 2018. First home buyers will probably pay more both

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