Detroit Real Estate

One of the most confusing items for first time homebuyers is the escrows.  Sometimes home buyers are upset with the mortgage loan officer because they got a surprise right before the closing.  The mortgage person did not explain the mortgage costs fully or they glossed over all the costs.  Mortgage closing costs and the terms are confusing.  So every first time home buyer needs to ask for clarification of anything they don't understand.

Here are some articles on escrows so you can understand them better. 

What are escrows and mortgage explanations

Why do I need escrows

Home buyer money checklist - How much money every first time home buyer needs for closing  

What is a FHA loan and FHA mortgage explanation

If are a first time home buyer there are a lot of things you have never heard of, or seen before.  If you don't understand something give me a call or email me.  Even if you aren't my client I will try to explain what you don't understand.

After all a home purchase and the mortgage is one of the biggest purchases you make in your life.  So don't be afraid to look stupid because you aren't.  You just haven't done it before.  Ask the question and keep asking the question until you understand it.

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