Financing and Preapproval Terminology
A one-sitting glossary of the words buyers and listing agents hear most often, without rates or payments.
For Michigan Realtors
The Mortgage Resource Center for Michigan Realtors
A practical return destination for training, financing education, and business-development ideas. Filter the library, download a one-sitting guide, read a sourced Michigan article, or inquire about a future training session.
Shane Thomas, Senior Loan Officer | Ease Mortgage, NMLS #444451. Last reviewed November 10, 2026. Education is free and is not conditioned on referrals.
Schedule a Realtor Strategy Conversation.
There is no online booking link on this page. Call or email to set a time. This is a conversation, not an approval or a quote.
Mortgage Education Library
Filter by topic, experience level, and buyer situation. Filters combine across those groups and add within a group. Every card opens a real page, article, or printable on this site.
VA loans: a beginner’s guide
Eligibility, the Certificate of Eligibility, and how a VA-backed purchase is structured, in plain language for first conversations.
VA loans for Michigan Realtors: entitlement, funding fees, appraisals, and seller concessionsA deeper briefing for agents: entitlement, the current funding-fee table, MPRs, and the 4% seller-concession framework.
FHA loans: a beginner’s guideWhen FHA financing is typically used, minimum investment, and the property-condition questions that often come up.
FHA vs. conventional low down payment financingA sourced comparison of minimum investment, mortgage insurance, cancellation rules, and Michigan loan limits.
Conventional financing basicsHow a conventional, conforming loan works, including loan limits and when private mortgage insurance may apply.
Down payment and closing costsMinimum investment by loan type, earnest money, and the cash-to-close items buyers often forget to plan for.
Self-employed and bank-statement optionsAn introduction to how self-employed income is typically reviewed, and when a bank-statement approach is a different path.
Self-employed borrowers: documentation and what Realtors should knowTax returns, add-backs, timing, and the conversations that help a self-employed buyer write a cleaner offer.
Mortgage insurance: FHA MIP and conventional PMICovered in the FHA vs. conventional comparison, including cancellation under the Homeowners Protection Act.
First-time buyer roadmapA step-by-step path from early questions to closing, written for buyers and useful in a listing or buyer consultation.
Getting preapprovedWhat a preapproval is, what it is not, and how buyers start a file.
The closing process after an offer is acceptedFourteen stages from accepted offer to keys, plus a planner for contract dates.
Issues that often delay a closingFive mistakes that could delay a closing, and the difference between signing, funding, and recording.
Michigan appraisal and financing contingenciesAppraisal gaps, low appraisals, and contingency deadlines, with a reminder that Michigan purchase-agreement forms vary by board.
Buying before sellingOptions for a buyer who wants to purchase the next home before the current one is sold, including an educational comparison.
The Dual-Preapproval StrategyTwo ways to structure a home purchase, written for Michigan Realtor partners.
Seller concessions vs. price reductionsA full educational guide and comparison tool, including program caps and Michigan transfer-tax notes.
Mortgage rate buydownsPermanent and temporary buydowns, how they are often funded, and the questions to confirm with a loan officer.
Listing support: financing angles for listingsA practical resource center and educational worksheet for talking through concessions, buydowns, property condition, and offer terms.
Open House Resource CenterFree, ungated buyer-financing resources you can use at an open house.
Co-branded marketingSample educational and milestone concepts, a five-step review process, and draft templates.
Mortgage calculatorsEducational calculators for payment, affordability, concessions, and buydowns. Results are illustrations, not quotes.
Michigan housing market benchmarks and 2026 loan limitsSourced 2026 conforming and FHA limits, plus the latest official FHFA house-price figures for Michigan.
USDA rural purchase loansWhen a USDA-backed purchase may be available, and the eligibility questions to take to a loan officer.
Quick reference: financing and preapproval terminologyA printable, branded one-sitting glossary.
Quick reference: seller concessionsA short printable on concessions vs. a price change.
Quick reference: rate buydownsA short printable on temporary and permanent buydowns.
Quick reference: buyer qualification questionsQuestions that help a conversation start — without ECOA prohibited-basis questions.
Quick reference: common closing delaysA printable list of the issues that most often slow a file.
Quick reference: buying before sellingA short printable map of move-up options.
No resources match those filters. Clear a filter or to see the full library.
Realtor Quick Reference Guides
Six short, branded printables. They are educational. They do not state a rate, a payment, or a commitment to lend.
Seller Concessions: A Quick Reference
How a concession differs from a price change, and the program-cap questions to ask before an offer is written.
Rate Buydowns: A Quick Reference
Permanent vs. temporary buydowns, in plain language, with no pricing quotes.
Buyer Qualification Questions
Useful questions to ask buyers. Realtors do not make credit decisions, and these questions avoid ECOA prohibited bases.
Common Closing Delays
The issues that most often slow a file, and who usually owns the next step.
Buying Before Selling: A Quick Reference
A short map of the ways a move-up buyer can try to purchase before a current home is sold.
Educational Videos
Short explainers, each planned for two to five minutes, will appear here after Shane approves them. No third-party video is embedded on this page today. When a video is approved, it will load only after you choose to play it, using a privacy-friendly player.
Coming soon — pending Shane's approval
Preapproval vs. prequalification, in plain language
Target length: 2–5 minutes.
What each letter actually represents, what it does not represent, and how a Realtor can use either document without overstating it.
Coming soon — pending Shane's approval
Seller concessions vs. a price change
Target length: 2–5 minutes.
How a credit toward eligible costs differs from changing the contract price, and why program caps matter before an offer is written.
Coming soon — pending Shane's approval
Temporary and permanent rate buydowns
Target length: 2–5 minutes.
What a buydown changes, what it does not change, and the questions to ask a loan officer before using one in a listing conversation.
Coming soon — pending Shane's approval
VA loan basics for Michigan Realtors
Target length: 2–5 minutes.
Certificate of Eligibility, entitlement in brief, the funding fee, and why a VA offer is not automatically weaker or stronger than any other offer.
Coming soon — pending Shane's approval
What “clear to close” actually means
Target length: 2–5 minutes.
The difference between underwriting approval, clear to close, consummation, funding, and recording, and the delays that often appear in between.
Monthly Realtor Training
This section is reserved for future webinars and workshops. A topic list is below so teams can plan. Sessions are not scheduled here, and registration is not open.
Registration opens after the scheduling system is approved. Until then, registration is disabled. Share your interest, preferred format, and general timing through the training inquiry form, or call or email Shane.
Proposed topics
- VA loan conversations for listing and buyer agents
- Seller concessions and price structure
- Two ways to structure a home purchase
- Open-house financing conversations
- Self-employed buyers and documentation timing
- Appraisal gaps and financing contingencies
- Buying before selling: how to talk about the options
- First-time buyer education that stays advertising-safe
Formats under consideration include in-office sessions, lunch-and-learn conversations, and virtual meetings. None of these is a booked event.
Michigan Market Education
Five launch-ready articles with figures verified from primary sources, retrieved November 10, 2026 where a retrieval date is stated. They do not include rate quotes or rate forecasts.
Article
VA Loans for Michigan Realtors: Entitlement, Funding Fees, Appraisals, and Seller Concessions
A practical briefing on Certificates of Eligibility, entitlement, the current VA funding-fee table, Minimum Property Requirements, and the 4 percent seller-concession framework.
Article
FHA vs. Conventional Low Down Payment Financing: What Michigan Realtors Should Know
A sourced comparison of minimum investment, FHA MIP, conventional PMI cancellation under the Homeowners Protection Act, property standards, and 2026 Michigan loan limits.
Article
Self-Employed Borrowers: Documentation and What Michigan Realtors Should Know
How self-employed income is typically documented under agency guides, why timing matters, and the conversations that help a cleaner offer — without turning a Realtor into an underwriter.
Article
Michigan Appraisal and Financing Contingencies: Gaps, Deadlines, and Low Appraisals
How appraisal and financing contingencies differ, what a low appraisal can mean, and why Michigan purchase-agreement forms should be read rather than assumed. Not legal advice.
Article
Michigan Housing Market Benchmarks and 2026 Loan Limits
Official 2026 conforming and FHA loan limits, HUD lookup results for Michigan counties, and FHFA house-price index readings, each with the date retrieved. No rate quotes or forecasts.
Partner With Shane
Shane works with Michigan Realtors as a loan officer they can call before an offer is written, not only after a file is already in trouble. The aim is practical education, clear next steps, and a file process that Realtors can explain to their buyers and sellers.
That work is educational and collaborative. It is not a promise that a particular buyer will be approved, that a listing will attract a certain kind of offer, or that a file will close on a particular timetable.
Shane’s standard, on files he is actively working, is to send Realtor partners proactive updates at least twice a week. That is his stated practice. It is his standard, not a service promise, and it is not a representation that every file will move on a fixed calendar.
Education and these resources are free. They are not conditioned on referrals, and they are not provided as compensation for referrals.
Buyers who are ready to start a file can apply online at the application link. The main next step for Realtor partners is a strategy conversation, by phone or email, not an online booking calendar.
- Experience
- More than 15 years in the mortgage industry, including about eight years in wholesale lending and about five years as a mortgage broker.
- Licensing and markets
- Licensed in Michigan and Indiana. Shane’s primary markets are Oakland, Macomb, and Wayne Counties, and he serves buyers and Realtor partners throughout Michigan.
- Focus
- VA-backed purchases, move-up buyers, and first-time buyers, along with the broader conventional and government-program work those conversations often involve.
- Communication
- Proactive updates to Realtor partners at least twice a week on every active file, as Shane’s standard — not a service promise.
Training inquiry
Use this request to tell Shane you are interested in a future training session. It is optional. Nothing here is stored on this website. “Create email request” prepares a message in your own email app addressed to [email protected]. You can also call or copy the text and send it yourself.
Privacy notice
- Whose information is collected. Yours, as the requesting agent. Do not include client names, addresses, or financial information.
- Purpose. So Shane can respond to this training inquiry only.
- How it is sent. The request is sent from your own email app to [email protected]. It is not stored on this website and is not submitted to a form backend, CRM, or other third-party system.
- Consent. By sending the request you consent to be contacted about this inquiry only, using the email and, if you provide it, the phone number you enter. You will not be added to a marketing list without separate consent. Sending this inquiry is not marketing-list consent, is not a referral, and is not a condition of using these educational resources or of any purchase.
Questions
- Is this education free, and do I have to refer business to use it?
- Yes, it is free. These educational resources are not conditioned on referring any business to Shane. Marketing and training are not provided as compensation for referrals.
- Can I register for a monthly training session on this page?
- Not yet. Registration opens after the scheduling system is approved. Use the training inquiry form, call, or email to share your interest and preferred format.
- Are the videos ready to play?
- Not yet. The video section is labeled Coming soon — pending Shane’s approval. When a video is approved, it will load only after you click, using a privacy-friendly player.
- Do the quick-reference PDFs replace a loan officer conversation?
- No. They are educational printables. They do not state a rate, a payment, or a commitment to lend, and they are not a credit decision.
- Does the training inquiry form store my information on this website?
- No. The request is built as a message in your own email app addressed to [email protected]. This website does not store the form and does not send it to a form backend.
Sources
Last reviewed November 10, 2026. Confirm current language with the linked source. Some official sites may return a 403 status to automated tools even when they open in a browser.
- 12 CFR 1024.14: Prohibition against kickbacks and unearned fees (RESPA / Regulation X)
- 12 CFR 1026.24: Advertising (Regulation Z triggering terms)
- 15 U.S.C. 1691: Equal Credit Opportunity Act
- 12 CFR 1002: Regulation B (Equal Credit Opportunity)
- FHFA: Conforming loan limit values for 2026 (announced November 25, 2025)
- HUD Mortgagee Letter 2025-23: 2026 Nationwide Forward Mortgage Loan Limits
- HUD: FHA Mortgage Limits lookup
- VA: Funding fee and loan closing costs (page last updated October 5, 2026)
- HUD Mortgagee Letter 2023-05: FHA annual MIP rates and UFMIP
- Homeowners Protection Act, 12 U.S.C. 4901 et seq.
- NMLS Consumer Access
Shane Thomas, Senior Loan Officer | Ease Mortgage, NMLS #444451. Ease Mortgage, NMLS #2273319, 1050 Wilshire Dr, Suite 300, Troy, MI 48084. Licensed in Michigan and Indiana. Equal Housing Opportunity.
Schedule a Realtor Strategy Conversation.
There is no online booking link on this page. Call or email to set a time. This is a conversation, not an approval or a quote.