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  • Dealing with someone who is fair and has your best interest in mind is a relief. Accurate Mortgage is great whether its a purchase or refinance, I should know because I worked with them for both.
  • We want to give our clients the best rates at the lowest costs! Our goal is to educate, guide, and inform our clients every step of the way during the loan process!

Accurate Mortgage Solutions

Michigan Mortgage Broker - NMLS #164511

Thank you for choosing Accurate Mortgage, your honest, upfront mortgage lender. We are committed to providing you the very best service and the lowest cost loans. We promise to provide you with the lowest rates and points and to answer any questions you might have at any step during or before beginning the loan process.

Founder TJ Lota started Accurate Mortgage in 2004 with the goal of providing the best value in the mortgage industry to his customers. Although our team here at Accurate Mortgage boasts well over fifteen years in the mortgage industry and closes millions of dollars in business every year, we still treat every single client like our first. Even after all of these years, the majority of our clients still come from referrals, and we think that speaks for itself.

All of our loan officers are fully licensed by the U.S. Government. They are held to the highest standards of licensing, testing and continuing education. They are available any time to answer any questions you may have or help you begin the loan application process. If you would like to speak to one of our officers, please click here and fill out the form and someone will contact you shortly.

We know that the recent upheaval in the real estate market has been a cause for concern and Accurate Mortgage promises to always adhere to the highest degree of integrity and always offer you the best value in the industry. Whether you're buying your first home, refinancing, or borrowing for a business, we're here to answer all your questions and provide you with the best loan available.

Accurate Mortgage is a proud member of the Better Business Bureau and founder TJ Lota has received many awards throughout the years for his work as a top producer. In 2009 Accurate Mortgage Solutions also received the "Microloan - Outstanding Achiever" award. When choosing Accurate Mortgage, you can be confident in our commitment to providing you the best service and products in the industry and making your loan seeking an easy and successful endeavor.

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Loan Options
Cash Advance
Government Backed

Mortgage Options
Adjustable Rate
15/30-Year Fixed
Fannie Mae HomePath

  • VA Loan

    VA loans are low cost, government backed loans made to qualifying veterans of the U.S. armed services under the VA Home Loan program administered by the U.S. Department of Veteran’s Affairs. Although the VA does not loan money, it backs loans made by private lenders to qualifying veterans. Any veteran with an honorable discharge or anyone with enough time on active duty in the U.S. armed services may qualify for a VA loan, however they still must meet credit score and income requirements.

    Under this program, the seller is permitted to pay closing costs and if they agree to do so, and the purchase price falls within federal guidelines, qualifying veterans can purchase a primary residence with no money down. Refinances are restricted under the program unless the buyer is refinancing from one VA loan to another.

    The VA charges a funding fee for these loans which may range from 0 to 3.15% of the total loan amount. This fee may be paid up front or rolled into the loan. However, private mortgage insure isn’t required on these loans, which means that you can borrow more money with the same monthly payment. Also, making a down payment can lower the VA funding fee.

    If you’re a veteran of the U.S. armed services or currently on active duty, the VA home loan program may be right for you, especially if you have little or no money for a down payment. We’d love to answer any questions you have and help you get started on the application process. If you’d like to find out more, please fill out the form located here - click here- and one of our loan officers will contact you.

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  • Refinance Loan

    Are you considering refinancing your home, or if you're not, should you? Right now, many Americans are looking for ways to save, and refinancing may be one of them. With market interest rates low, this is a good time for homeowners to think about refinancing their current loan.

    Refinancing is a good way to free up some extra funds for your monthly budget, but it can also save you hundreds or thousands of dollars over the life of your loan if you qualify for a lower interest rate. You should review your mortgage loan at least once a year to see whether refinancing might be a viable option to save you some money. Since the market and your personal finances and goals are always changing, it's important to keep your budget and financial products current.

    Some reasons you may want to consider refinancing -

    - Lower Interest Rate - If you qualify for a lower interest rate, you could save hundreds or thousands of dollars over the life of your loan.

    - Lower Monthly Payment - There are two ways that refinancing can get you a lower monthly payment. First, a lower interest rate will result in a lower payment. Secondly, even if you can't get a lower interest rate, you can lower your payment by extending the life of the loan. The combination of the two can result in a significant reduction of your monthly payment.

    - Consolidate Debts - Refinancing may be a good way to consolidate other high interest debts, such as credit cards or car loans, into one loan with a lower interest rate. Mortgage loans generally carry a lower interest rate than consumer debt and they're also tax deductible, a double benefit.

    - Use Your Equity for Home Improvement or Other Financial Goals - Refinancing into one loan or taking a home equity loan or line of credit are the best ways to convert some of your equity into cash for home improvements, college tuition or other financial goals.

    - Shorter Term - If you'd like to pay off your home sooner, you can refinance with a shorter term mortgage, i.e. refinancing from a 30-year mortgage to a 15-year mortgage.

    - Financial Security & Stability - If you currently have an Adjustable Rate Mortgage, you may want to consider refinancing with a Fixed Rate Mortgage to get rid of interest risk. Any ARM carries a risk of your interest going up. Many people take out ARMs with low introductory interest rates planning to refinance before the end of the introductory period.

    If you're interested in refinancing, for whatever reason, we're here to help. The Mortgage Application Flow Chart will walk you through the loan process if it's been a while and the Mortgage Application Checklist list all the items you'll need to get started with your application. If you have any questions or you're ready to start your application, just follow this link -click here - to get started.

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  • New Home Loan

    So you're thinking about purchasing your own home? First of all, congratulations! Buying your first home is one the most rewarding things you can accomplish, but the loan process can seem challenging to those who have never been through it before. That's why we're here to answer all your questions and guide you through the process as painlessly as possible. First of all, when do you need to speak with a loan officer or mortgage broker? Before or after you find the home you want to purchase?

    It's always a good idea to talk to a loan officer before finding a property, if possible. That way, you can find out answers to important questions like "How much home can I afford?" to help narrow down your search. Through a process called "qualification" or "pre-qualification" we can help you determine how much of a monthly loan payment you can afford and how much we can lend you. We take into consideration many aspects including your income, debts, employment situation, and credit score, among other things, to determine the maximum amount we can loan you. Once we have determined how much of a loan you qualify for, we provide you with what's called a "Prequalification Letter" for you to give to your real estate agent. This lets you know how much you can offer and lets your real estate agent and the seller know that you can follow through with that offer. Although this might sound a little complicated, trust us, we keep the process as short and to the point as possible with a minimum of paperwork.

    If you'd like to get an idea of how much you can afford right now, you can always use the calculators on this site. However, it's very important to actually speak to a loan officer to find out all aspects to consider and find out which loan program is right for you. Plus, you're going to want that "Prequalification Letter" to give you a little more clout with sellers.

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  • Jumbo Loan

    A jumbo loan refers to any conventional mortgage loan with an amount above the guidelines set by Fannie Mae and Freddie Mac. Fannie Mae and Freddie Mac only purchase mortgages which are “conforming”, meaning they meet certain standards. One of those standards is the amount of the loan. Any loan above the amount set by Fannie Mae and Freddie Mac (generally $417,000.00) is considered a jumbo loan and is non-conforming.

    Jumbo loans represent a higher risk to lenders for more than one reason. Obviously, with a larger loan, the lender has more to lose in the case of a default. But they can just foreclose and sell the property to cover their losses, right? Unfortunately, that’s not always so easy or quick to do with high-priced luxury properties. These properties are out of the price range of the average buyer, plus luxury prices tend to be affected more by market highs and lows.

    Once again, it all comes back to the trade-off between risk and reward. A higher risk for the lender means a higher cost for the borrower. These loans require a higher down payment and generally carry a higher rate than conforming loans. The “spread”, or the difference between the conforming loan rate and the nonconforming loan rate, is determined by the current market price of risk.

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  • FHA Loan

    FHA stands for Federal Housing Authority. As with VA loans, the FHA doesn't actually loan any money, they do however insure certain loans made by private lenders. This allows these lenders to offer mortgage assistance to people with bad credit or low down payments or have undergone bankruptcy or foreclosure in the past. Since these borrowers are considered higher risk, the federal government insures loans from FHA lenders to reduce their risk of loss and help stimulate the housing market by making loans more accessible and affordable.

    Although traditionally FHA loans have helped returning military families, the elderly, handicapped or low income families, anyone can actually qualify for an FHA loan. Also, it's a myth that FHA loans are only for first time home buyers.

    FHA loans are the easiest types of mortgages to qualify for. They require only a small down payment (minimum 3.5% of the selling price) and can be made to borrowers with tarnished credit. So, what's the catch?

    Since an FHA loan isn't regulated by the strict standards of a conventional loan and they are generally made to higher risk borrowers, they require two mortgage insurance premiums (MIPs). The first is the appropriately name Upfront Mortgage Insurance Premium and the Second is the Annual Mortgage Insurance Premium.

    The Upfront MIP is equal to 1% of the entire loan amount, regardless of the buyer's credit, and must be paid in full at the time of closing. Although the Upfront MIP must be paid at closing, it can be financed into the mortgage. But, of course, that will mean a higher monthly payment.

    Although the Annual MIP is called an annual premium, it is actually a monthly payment added onto the monthly mortgage payment. The Annual MIP is based on the borrower's loan-to-value ratio and the length of the loan.

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  • Commercial Loan

    If you’re considering applying for a commercial loan and it’s your first time, it’s important to have a firm understanding of the differences between commercial and residential mortgage loans. Lenders rely on a debt-to-income formula to judge your ability to repay a loan when making decisions regarding residential loans. The qualifying process for commercial loans relies on a completely different formula. Since a commercial property is more of an investment than a residential property, you’ll need to show the lender what your projected return on investment (ROI) will be.

    The cash flow generated from your commercial real estate will be one of the main factors used to determine both the value of the property and its future return. Other determining factors are personal and business credit history, your net worth, the type and condition of the property, the location of the property and the general economic outlook in the area. When you’re applying for a commercial loan, you need to show the lender why the property is a good investment. You need to firmly establish a market need for the business and answer any questions the lender may have. What kind of property will you acquire and exactly how are you going to use it to accomplish your financial goals? How long are you planning on holding the property and do you have an exit strategy? It’s important to know all these details before you apply.

    If you’ve made these considerations and you’re ready to take the next step, just click here, fill out the form and one of our loan officers will contact you to help you start your application.

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