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For most people, finding the right home in Traverse City, Michigan is just the first step. Finding the right financing to buy a home is essential to make the home purchase occur! A home buyer has a choice of local mortgage lenders and national lenders advertising on the Web. Many home buyers find that using local Traverse City, Michigan lenders (with rates very comparable to online mortgage brokers) help ease some of the stress of moving. Home buyers have more personal service, and the mortgage companies have a better relationship with appraisers and other real estate professionals. Ask about adjustable rate loans if you are guaranteed to be relocated out of Traverse City within the next 5 years. I had a friend who found a 40 year adjustable with 5 year fixed rate. He knew that he had guaranteed relocation buy-out at the end of his assignment so he wasn’t worried about building equity. He ended up paying less than half in a mortgage payment than he would have paid in rent! Short on cash? There are many mortgage lenders in Traverse City that now offer 100% financing – no down payment certainly helps keep moving expenses down!
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Traverse City is a city in the U.S. state of Michigan. It is the largest in the 21-county Northern Michigan region. As of the 2000 census, the city population was 14,532. It is the county seat of Grand Traverse County6, although a small portion lies in Leelanau County. Despite its modest population, Traverse City functions as the major commercial nexus for a seven-county area totaling over 7,000 km² and, along with cross-peninsula counterpart Alpena, is one of Northern Lower Michigan's two anchor cities. Traverse City is the self-proclaimed Cherry Capital of the World, holding an annual week-long Cherry Festival the first full week in July to celebrate the fact. Besides cherries, the surrounding countryside produces grapes and is one of the centers of wine production in the Midwest. Tourism, both summer and winter, is another key industry. -- Source: Wikipedia.com
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