OneTrust Home Loans Northern Michigan

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Traverse City, MI
OneTrust Home Loans Northern Michigan

Ian Ashton, NMLS 406549

10/15/2026

Underwriting is one of the key stages between applying for a mortgage and receiving final loan approval.

During this process, the underwriter reviews the loan file to confirm that the borrower, property, and loan meet applicable program and lender requirements. This may include reviewing income, assets, credit, debts, appraisal information, and other documentation.

Sometimes additional documents or explanations may be requested. That does not necessarily mean something is wrong. It can simply be part of completing the review and verifying information needed for the loan decision.

Understanding what happens during underwriting can make this part of the homebuying process feel much less mysterious. Staying responsive and keeping financial documents organized can also help the process continue moving forward.

10/13/2026

A reverse mortgage can offer financial flexibility for some homeowners, but deciding whether it is the right fit starts with asking the right questions.

How long is the home expected to remain the primary residence? What financial goals are most important during retirement? How might available home equity support those goals? What responsibilities continue throughout the life of the loan? And how could the decision affect longer term plans for the home?

These conversations can help homeowners look beyond the basic features of the loan and understand how a reverse mortgage may fit into their broader financial picture.

Every client has different priorities, resources, and retirement goals. That is why we take the time to walk through the options, answer questions, and help homeowners determine a strategy that makes sense for their individual situation.

10/08/2026

One unique part of construction financing is determining the value of a home that does not exist yet.

For a new construction appraisal, the appraiser may review the plans, specifications, proposed finishes, site information, construction contract, and other project details to develop an opinion of the property's expected value once completed.

That appraisal becomes an important part of the construction financing process because the lender is evaluating the proposed finished home rather than an existing property.

Detailed plans and accurate project information can help provide a clearer picture of what is being built. Working with a construction lender who understands this process can also help buyers and builders know what documentation may be needed before the appraisal is ordered.

10/06/2026

USDA loans are often associated with rural homebuying, but there is more to the program than many buyers realize.

The USDA Single Family Housing Guaranteed Loan Program is designed to help eligible low- and moderate-income households purchase a primary residence in eligible rural areas. Qualified borrowers may be eligible for financing up to 100% LTV. Both the borrower and the property must meet USDA eligibility requirements.

One important thing to know is that USDA eligibility is based on specific geographic boundaries. A property does not necessarily have to feel remote or agricultural to potentially fall within an eligible area. USDA provides an eligibility tool that can be used to check specific locations.

For buyers considering homes outside major urban areas, it may be worth asking a lender whether USDA financing is one of the available options.

10/01/2026

Selling a home with a reverse mortgage is possible, and understanding what happens to the loan can make the process feel much clearer.

When the home is sold, the reverse mortgage balance generally becomes due and is repaid from the proceeds of the sale. Any remaining equity after the loan and applicable selling costs are satisfied belongs to the homeowner or their estate.

For some homeowners, selling may be part of downsizing, relocating closer to family, or simply choosing a home that better fits retirement needs. Knowing how a reverse mortgage works when plans change can help homeowners make informed decisions with greater confidence.

Borrowers remain responsible for property taxes, insurance, and upkeep while the reverse mortgage is in place. Every situation is different, so taking time to review the loan and available options can help determine the right next step.

09/29/2026

For a Reverse Mortgage, independent counseling is an important part of the process. The counseling session is designed to help homeowners understand how a reverse mortgage works, including loan costs, repayment, homeowner responsibilities, available alternatives, and how the loan may affect long term financial plans.

The goal is education. It gives homeowners an opportunity to ask questions and better understand the program before moving forward with an application.
Reverse mortgages can work differently depending on individual goals and circumstances, which is why education is such an important part of the process.

Our team also takes the time to answer questions, review available options, and help each client determine whether a reverse mortgage may align with their retirement goals.

09/24/2026

People often get confused about earnest money, especially how it's different from a down payment or closing costs. So, what exactly is it?

Earnest money is generally a deposit that demonstrates a buyer's intent to move forward with a home purchase after an offer is accepted.

The amount, timing, handling of the funds, and circumstances under which the deposit may be refundable are typically outlined in the purchase contract and can vary by transaction and local practices. If the purchase moves forward, earnest money is generally applied toward the buyer's funds due at closing according to the terms of the transaction.

09/22/2026

One question I often get from buyers considering building is, "How does the construction loan timeline actually work?"

Financing a home that hasn't been built yet involves a few more stages than financing an existing property.

The process may include reviewing the borrower and builder, finalizing plans and specifications, establishing the construction budget, completing an appraisal, closing the loan, and then moving into construction. During the build, funds are typically released through a draw process as work progresses and applicable requirements are met.

Exact steps and timelines can vary depending on the project, builder, loan structure, and lender. Working with an experienced construction lender can help you understand what to expect at each stage and how the financing fits into the overall building timeline.

09/17/2026

When planning to buy a home, people often focus on one number: the down payment. But that's not the only expense worth planning for.

Depending on the transaction and loan program, buyers may also need to budget for closing costs, prepaid expenses such as homeowners insurance and property taxes, an appraisal, inspections, and other costs associated with the purchase.

The exact amount needed can vary based on the home, loan program, location, and individual transaction.

That's why it's helpful to look at the full financial picture early. Even if you're not ready to buy yet, I'm happy to help you understand what expenses you may want to prepare for so you can start planning ahead.

09/15/2026

Finding the perfect homesite can be exciting, but purchasing land before understanding the financing options may create challenges later in the building process.

Lot cost, site improvements, construction budget, property characteristics, and the planned home can all factor into how a project is financed. Talking with an experienced construction lender early can help buyers understand how the land purchase may fit into the overall construction financing strategy.

Some buyers may finance the lot and construction together, while others may purchase land first and build later. The right approach depends on the project, timeline, loan program, and individual financial situation.

Before committing to a homesite, understanding the financing side can help create a stronger foundation for the entire build.

Address

697 Hannah Avenue, Suite C
Traverse City, MI
49686

Website

https://onetrusthomeloans.com/northernmichigan/

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