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Oak Park, 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 Oak Park, 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.

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Oak Park, Michigan News
Two face charges in enrollment of boy who brought gun to school

FERNDALE A retired Oak Park educator and member of a nonprofit community drug prevention group face a court hearing this week on charges she and her son fraudulently enrolled a boy who brought a loaded handgun ...


Oak Park school prays for sister site in Mumbai

While many television sets around Metro Detroit were tuned in to Thanksgiving Day parades and Lions football Thursday, supporters of the Lubavitch Cheder in Oak Park were watching news of the Mumbai terrorist ...


Unused, Expired Prescription Drug Drive

The Detroit Medical Center Surgery Hospital in Madison Heights is hosting a prescription drug drive Tuesday to collect unused or expired medications.


Two adults charged in Roosevelt gun incident

Two adults are facing charges in the case of the Roosevelt Primary School first-grader who brought a loaded handgun to school in September.


Chuck Bennett: Smooth Style Beauty Bash honors Metro Detroit women

There was lots of activity, mostly beauty-related, when Smooth Jazz V98.7 and Christian Dior Cosmetics presented its Smooth Style Beauty Bash on Nov.


Police: Hit-and-run victim was visitor

The victim of a hit-and-run incident, hospitalized in critical condition since last week, has been identified as a visitor from Chicago though police did not release the man's name.


Police seek help with IDs after hit and run

The elderly victim of a hit-and-run crash remains hospitalized in critical condition at a local hospital as Southfield police seek help identifying him and finding the vehicle that struck him Sunday at 13 Mile ...


Ferndale Students Report Being Followed

The community of Ferndale is on alert after two high school students reported being followed for several blocks by two men on their way to school on Nov.


Voters say yes to school millage

Thomas Bainbrdige had a good feeling about the Southfield Public Schools millage request even with only Lathrup Village reporting its totals.


Hamtramck repeals discrimination ban

Residents on Tuesday repealed a controversial human rights ordinance that's less than a year old.


State House races favor Democrat, incumbents

Democrat Ellen Cogen Lipton will take the 27th District state House seat left vacant by term-limited Andy Meisner.


Ferndale students report being followed on way to school

Two Ferndale High School students told police they were followed as they walked to school Monday morning.


Candidates compete to replace retiring Berkley judge

Voters will decide Tuesday who succeeds retiring 45A District Court Judge William Sauer when they cast their ballots for assistant prosecutors Denise Brainard or Jamie Wittenberg.


Two men charged in 23 year-old homicide in Royal Oak Township

Oakland County Sheriff's detectives said Friday they've cracked a 1985 slaying of a township motel clerk with the aid of DNA evidence left at the scene 23 years ago.


Fans line up early to meet Martha Stewart in Birmingham

Wearing a gray jacket, slacks and her signature smile, Martha Stewart greeted 400 fans Wednesday afternoon at the Borders store in Birmingham, where she signed copies of her new book, "Martha Stewart's Cooking ...


Levin aiming to keep steady in year of change

Even in the 12th Congressional District, voters are talking "change." "There's a real surge for change out there," said incumbent Sander Levin, D-Royal Oak, who is seeking his 14th consecutive term in Congress.


Warren Symphony concert features America's immigrant heritage

The Warren Symphony Orchestra will present 'America, The Melting Pot,' a dynamic, multimedia concert depicting the moving story of America's immigrants, on Nov.


3 vie for 2 seats on 45-B bench

Oak Park City Councilwoman Angela Diggs Jackson thinks her city needs more representation in regional government and the 45-B District Court needs to be more open to residents.


Ford High students walk out to protest school violence

About 100 students walked out of Ford High School in Detroit near midday today saying they wanted to highlight violence in the school and pay respects to a classmate killed last week.


County commissioner seeking 4th term is 'not done' yet

There's little Oakland County Commissioner Helaine M. Zack can say about her opponent or her opponent's views in the Nov.


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