The Open Door Blog
Our take on the home loan business
Kevin
Oakland County Cindy Nicholaou Kevin was ready for the upgrade to his second house. After getting in touch with McLellan Financial Mortgage, Cindy went straight to work to make it happen. Sometimes our success stories are heroic tales of overcoming credit issues or...
Lewis Family
Oakland County Donna McLellan Dan and Angela Lewis were looking to pay off their loans and make some home improvements. They enlisted the help of professional loan officer, Donna McLellan, to come up with a solution that would not only give them the cash they wanted,...
The Bishop Family
Oakland Township Alan McLellan The Bishop Family was having a hard time financing a home in Oakland Township. When Mr. Bishop lost his job and their son became ill, the bills piled up and they had to file for bankruptcy. Their credit score has suffered ever since...
Jumbo Loans Are Tough
If you're in the market for a large home, it's easy to find yourself in Jumbo Loan territory. Jumbo Loans aren't huge, rare financing packages. An average house in a hot market like Rochester Hills or Birmingham, or a slightly larger than average home in most...
Conforming Loan Limit Increase
Having a new administration in Washington means federal housing policies may change. Unfortunately, the FHA Premium Reduction was cancelled. But the Federal Housing Finance Agency (FHFA) is still moving forward with an increase in the Conforming Loan Limit. What's a...
Real Home Prices
Emotions can start running hot again when the price tag starts slowly creeping up, perhaps higher than you planned.
Back to School Season
You may have thought to yourself, “Who would want to move once school has started?” Well the answer is A LOT of people!
Closing, Closing, Closing!
Our space right in downtown Rochester, Michigan is gorgeous and oh so convenient. You’ll be sure to see us if you’re cruising down Main Street.
Strength and Support
As the housing market continues to improve, we are in a big of a Golden Intersection. Prices are rising, sales are growing, and Federal Assistance is still available. According to the monthly report published by the Department of Housing and Urban Development, there...
Coming Soon!
McLellan Financial Mortgage is growing! After over a decade operating exclusively out of Troy, we are going to be opening an office on Rochester this summer. We're very excited to expand our ability to serve the Rochester community. If you have a complicated...
Mortgage Rates Stay Low
If there's one thing not springing up in April, it's the 30 year mortgage rate. After weak employment news, you still have the opportunity to buy a new home at historically low rates, or refinance your home to a more affordable payment. We know there are many reasons...
Equity Loan vs. ATM
The housing crash we've all enjoyed (sarcasm) was not only a product of unscrupulous banking. It was also the result of irresponsible self-lending. By that, we're taking about the re-purposing of home equity. Over the period of about ten years, it...
Refinance at a Lower Rate?
We all know the headlines. Low interest rates! Down payment and closing cost assistance! There is a lot of advice out there. But very few people and businesses are providing guidance on who should be doing which kind of refinance package you should pursue. What Kind...
Home Purchase Grants
Hello Michiganders looking to make a new home purchase! McLellan Financial Mortgage has some great news for you. Recently, funds were appropriated by the Legislature to the Michigan State Housing Development Authority (MSHDA) for a pair of new programs. They are...
New Year, New Mortgage News
Well, 2013 got here awfully fast. We're excited for another year of business and the opportunity to help Michigan families with their first home loans, home loan refinances, or commercial loans. But while we love his roguish good looks, Uncle Sam always has some...
Housing Market Supply & Demand
The housing market is full of variables. Some are intensely complicated but others are more straight forward, like supply and demand. If you remember way back to that Economics 101 class you took in high school or college, you may remember the idea of supply and...
September Housing Scorecard
September has brought good news to the housing market and provides substantial encouragement for future gains. Home Values Home values have grown 5.9% to reach their highest levels since 2008. This, in turn, has helped lift 1.3 million families above water on their...
Underwater Mortgage
Do you have an underwater mortgage? Do you know someone who has an underwater mortgage? McLellan Financial Mortgage is here to help. With years of experience and hundreds of absolutely satisfied clients, we can look at your unique financial situation and help dry out...