Tonjola D. Cole, Community Home Lending Officer, NMLS 658375

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Tonjola D. Cole, Community Home Lending Officer, NMLS 658375 Officer, Community Home Lending Officer
NMLS #658375

After weeks of house hunting, inspections, paperwork, and loan approvals, there's one final step: Closing.Think of Closi...
10/26/2026

After weeks of house hunting, inspections, paperwork, and loan approvals, there's one final step: Closing.

Think of Closing as the day when the home officially becomes yours.

You'll sign documents, pay any remaining funds due, and finalize the transfer of ownership. Once everything is complete, you'll get the keys and can officially call yourself a homeowner.

If you have questions about Closing or the mortgage process in general, don’t be afraid to ask.

Like it or not, winter is coming. Tackle these annual maintenance tasks before cold weather sets in.
10/21/2026

Like it or not, winter is coming. Tackle these annual maintenance tasks before cold weather sets in.

When people think about homeownership costs, they think about the mortgage, property taxes, and insurance.What catches h...
10/19/2026

When people think about homeownership costs, they think about the mortgage, property taxes, and insurance.

What catches homeowners off guard are the $500 here, $1,200 there, and $2,000 somewhere else:

↳ The water heater that suddenly quits.

↳ The tree limb that comes down during a storm.

↳ The sump pump that fails during the heaviest rain of the year.

↳ The refrigerator that dies two weeks before the holidays.

None of these are financial disasters on their own. But when they happen unexpectedly, they can be stressful if you aren't prepared.

One of the smartest things a homeowner can do is build a "house fund" alongside their emergency fund. 1-3% of your home’s value is a good rule of thumb for maintenance and repairs.

Homeownership isn't just about being able to afford the mortgage. It's about being able to afford the surprises.

Building a home can feel overwhelming, especially if it's your first time.That's why we created our Construction Loan Ha...
10/14/2026

Building a home can feel overwhelming, especially if it's your first time.

That's why we created our Construction Loan Handbook, a practical guide that explains the construction process, answers common questions, defines industry terminology, and explores the financing options available to help bring your vision to life.

➝ Click to download:https://www.firstmerchants.com/docs/default-source/default-document-library/fmb-construction-loan-handbook-0723.pdf

Most lenders offer low or no down payment loan options, but that's only part of the affordability conversation.What many...
10/12/2026

Most lenders offer low or no down payment loan options, but that's only part of the affordability conversation.

What many homebuyers don't realize is that there may also be grants and down payment assistance programs available to help reduce their upfront costs.

At First Merchants, we help eligible buyers explore our in-house grant programs and identify additional community-based assistance programs that may be available. In some cases, these programs can even be combined to provide greater support.

If you've been putting off homeownership because you think you need a large amount of money saved, it may be worth exploring what's available before ruling it out.

Contact me anytime for a free homebuyer consultation call.
https://myoc.io/aM7jTkyULUx

The short answer: A mortgage pre-approval may cause a small, temporary impact to your credit score because the lender pu...
10/07/2026

The short answer: A mortgage pre-approval may cause a small, temporary impact to your credit score because the lender pulls your credit report.

Lenders need to review your credit as part of determining how much home you may qualify for. In most cases, the impact is minor, and many buyers find that the benefits of knowing their budget and strengthening their offer far outweigh any temporary dip in their score.

If you're nervous about the credit check, you may be able to start with a pre-qualification. A pre-qualification can give you a general idea of what you can afford and often doesn’t require a hard credit inquiry.

The most important thing: don't let fear stop you from exploring your options. Knowledge is power, and understanding your financing options can start with a simple conversation.

📩 Ready to begin the conversation? Send me a message any time.
https://myoc.io/aM7jTkyULUx

Getting pre-approved for a mortgage doesn't mean you can stop being careful with your finances.The time between pre-appr...
10/05/2026

Getting pre-approved for a mortgage doesn't mean you can stop being careful with your finances.

The time between pre-approval and loan closing is critical. Your lender is still relying on the financial information you provided when you applied.

That's why it's important to avoid major purchases, new credit accounts, or other significant financial changes until after loan closing. If you're unsure whether something could impact your loan, check with your lender first.
https://myoc.io/aM7jTkyULUx

Credit is key when buying a house. When you apply for a home loan, your lender will evaluate your credit to help determi...
09/28/2026

Credit is key when buying a house. When you apply for a home loan, your lender will evaluate your credit to help determine if you’ll be approved and what your interest rate will be.

You can request a free copy of your Credit Report at www.annualcreditreport.com. Or use our SavvyMoney tool, available in the First Merchants mobile app, to monitor your Credit Score and download a snapshot of your Credit Report.

Need help understanding your credit situation? Want to know if you qualify for a mortgage? Send me a message.
https://myoc.io/aM7jTkyULUx

Lenders calculate your DTI to help determine how much home you may qualify for. DTI = Monthly debt payments ÷ Monthly in...
09/23/2026

Lenders calculate your DTI to help determine how much home you may qualify for.

DTI = Monthly debt payments ÷ Monthly income (before taxes)

What counts toward DTI?

✅ Current rent or future mortgage payment
✅ Car loans, student loans, personal loans
✅ Credit card minimum monthly payments
✅ Child support or alimony
✅ Buy Now, Pay Later obligations (Affirm, Klarna, Afterpay, etc.)
✅ Other recurring debt payments

What doesn't count?

❌ Utilities
❌ Cell phone and internet bills
❌ Groceries
❌ Childcare expenses
❌ Streaming subscriptions
❌ Other day-to-day living expenses

A good DTI ratio is 36% or lower. However, many lenders will accept up to 43%.

Thinking about buying a home? Let's talk through your numbers – send me a message to start the conversation.
https://myoc.io/aM7jTkyULUx

No matter where you are on your homeownership journey, I'm here to help you explore your options.At First Merchants, we ...
09/21/2026

No matter where you are on your homeownership journey, I'm here to help you explore your options.

At First Merchants, we offer:

✅ Low down payment mortgage options

✅ Down payment assistance and grant programs

✅ Construction and renovation loans

✅ Refinance solutions tailored to your goals

If you’re interested in setting up a free planning call, simply send me a message.
https://myoc.io/aM7jTkyULUx

Address

1420 Washington Boulevard
Detroit, MI
48226

Opening Hours

Monday 10am - 7pm
Tuesday 10am - 7pm
Wednesday 10am - 7pm
Thursday 10am - 7pm
Friday 10am - 7pm

Telephone

+13132057487

Website

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