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Detroit, MI FHA Loans in Michigan

FHA loans differ from conventional loans in a number of ways. The down payment required for an FHA-insured loan is usually much lower than for conventional loans. FHA loans also have lower credit requirements than conventional loans, making them more available to a wider range of potential homebuyers.

 

FHA loans offer Detroit, MI residents several other valuable benefits, not least of which is those aforementioned smaller down payments. Unlike a conventional loan, which ordinarily requires 10-20% down, FHA-insured loans only require down payments as low as 3-5%. The FHA is also more flexible in calculating factors to determine whether or not to approve the loan, factors such as household income and repayment ratios.

Return to fha loans in the state of MI

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Detroit, Michigan News
Romney: No Bailout For Auto Industry

Former Massachusetts Gov. Mitt Romney is standing steadfastly behind the forces opposing a $25 billion "bridge loan" for struggling Detroit auto manufacturers.


Officer Accused of Erasing Michigan Reporter's Photos

DETROIT Michigan State Police are reviewing allegations a trooper erased photos of a fatal motorcycle accident from a reporter's camera.


Ruling Monday on who makes Detroit mayoral ballot

Elections officials will determine Monday which of the 15 candidates seeking to run in a special Detroit mayoral election will make the ballot.


Dennis Archer won't run for governor

Dennis Archer, the city's former mayor and a former state Supreme Court justice, ended speculation this morning and announced he will not run for governor.


Rape charges dropped against man linked to missing Detroit-area girl

The 15-year-old who has made rape allegations against the last person to see 2-year-old Tangena Hussain alive told her story in court today and it resulted in reduced charges against the man.


12-year-old charged with reckless gunplay in 11-year-old's death

Wayne County Prosecutor Kym Worthy today charged a 12-year-old as a juvenile with careless reckless discharge in connection with Tuesday's shooting death of an 11-year-old boy.


Blow for US car industry

The American car industry was dealt another body-blow last night after it emerged that US politicians were unable to agree on whether to advance a $25bn lifeline to the big three manufacturers.


Representative Carolyn Cheeks Kilpatrick is stepping down after two...

Representative Carolyn Cheeks Kilpatrick is stepping down after two years as chairman of the Congressional Black Caucus.


Push for auto loans a tough fight, Cockrel says

Detroit Mayor Kenneth Cockrel Jr. turned a previously planned lobbying trip to the Capitol into a plea for financial aid to the auto industry Wednesday, but he acknowledged that legislation to help the Big ...


Archer Will Not Run For Governor In 2010

Former Detroit Mayor Dennis Archer called a press conference Thursday morning, where he was expected announce his run for governor in 2010, but he announced he has decided not to run.


Panel may kick Cockrel, Hood off Detroit mayoral ballot

The Detroit Election Commission is to decide Monday whether Mayor Ken Cockrel Jr.


Patterson calls Romney's bankruptcy idea 'way off base'

Mitt Romney stunned at least one of his most ardent Michigan political backers, when he wrote in an op-ed piece in today's New York Times that U.S. automakers should be allowed to fall into bankruptcy rather ...


Detroit Boy Charged in Friend's Fatal Shooting

A 12-year-old Detroit boy faces reckless discharge of a firearm charges in the fatal shooting of his 11-year-old friend.


Ex-Girlfriend Faces Murder Charge in Fatal Fire

A 63-year-old Detroit-area woman is facing a murder charge in a fire that killed the girlfriend of a man she once dated.


Prosecutors want texts as evidence in Beatty trial

Hearings are scheduled for next month on what evidence will be allowed in the perjury and misconduct trial of former Detroit mayoral Chief of Staff Christine Beatty.


Texts delivered in Greene suit

A communications company has turned over text messages from Detroit employees as part of a civil lawsuit filed by the family of a slain stripper.


Work resuming on Warren Avenue bridge on I-75

Folks who've spent most of 2008 detouring around the closed Warren Avenue overpass at I-75 in Detroit will be pleased to hear that work is resuming on the project.


Court filing: Greektown Casino near bankruptcy

Greektown Casino is expected to run out of cash in December, hampering its ability to continue operating or to finish building its new hotel, which is slated to open in February, according to documents filed by ...


Boy, 11, dies in possible accidental shooting; 12-year-old is detained

A 12-year-old boy is being detained as police try to sort out the shooting death of an 11-year-old that occurred this afternoon in southwest Detroit.


Archer to discuss race for governor on Thursday

Former Detroit Mayor Dennis Archer, believed to be considering a gubernatorial candidacy in 2010, is scheduled to speak about the governor's race on Thursday during a meeting at the Detroit Regional Chamber.


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