Overview of fixed-rate mortgages and ARMs, how term choices affect monthly payments, and how recent rate and housing trends (2020-2025) have changed refinance activity and foreclosure patterns in Michigan.
An updated primer on how mortgages work, who packages them, how they're regulated, why homeowners buy insurance or refinance, and practical tips for borrowers.
Balloon auto loans reduce monthly payments by leaving a large final "balloon" payment due at term-end. They fit buyers who can pay or refinance the lump sum later, but carry repossession and market-value risk.
Interest rates determine how much extra you pay on long-term loans. Compare APRs, loan terms, and lender fees, and use calculators to understand total cost before borrowing.