First American Blog - The First Word
Welcome to First American’s blog featuring highlights on home ownership and title insurance. Please also be sure to visit and subscribe to our Innovation Center Blog, our Caring for Our Community Blog and our Economic Center Blog.

Top 5 things to know about GFE fees and tolerance levels

When you apply for a mortgage, your lender will provide a Good Faith Estimate, often referred to simply as a GFE. A GFE is a government-standardized form that gives estimates of the charges and fees that will be associated with closing your transaction. The lender is required to issue the GFE within three business days after receiving your loan...

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Topics: Homebuyer and Seller Education

How does a new-construction home affect the title search process?

Building a brand new home on an empty lot gives you a great deal of flexibility and freedom as a homeowner. There is no prior house to renovate or add onto; you basically have a blank canvas to make all your own. So if you are the first one to live in your home, can you skip the title insurance? 

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Topics: Homebuyer and Seller Education

Get Pre-approved for Your Mortgage

Getting pre-approved for a mortgage involves having a lender evaluate your financial data to determine whether you qualify for a loan, as well as the maximum amount. This is done by having a loan officer review your income, savings, credit report and debt-to-income ratio. Getting pre-approved can provide mortgage borrowers with numerous benefits...

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Topics: Homebuyer and Seller Education

June Housing Numbers Should Prove Encouraging for Real Estate Service Professionals

Despite a slight dip in existing home sales in June of this year, prices continue to go up and overall sales remain near a three-and-a-half-year high, according to the National Association of Realtors. While purchases of existing homes fell 1.2 percent to a 5.08 million annualized rate, a lot of that drop appears tied to smaller inventory and...

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Topics: Economy

New Detroit Development Could Boost Home Closings

A new housing and retail development on Detroit's riverbank could encourage future homebuyers to get off the sidelines and into the homeownership game, as the units are geared toward young professionals. The $60 million project, which the developer hopes will be finished by early 2016, will include three- and four-story town houses, apartment...

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Topics: Economy Development

Demand for Housing of All Types on the Rise

Recent reports in the media showing that the U.S. housing market is increasing in multiple facets may inspire some future homeowners to get off the sidelines and into the action sooner rather than later.

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Topics: Homebuyer and Seller Education