About RobertRobert Merrill Lifestyle photo strip

Rob has been assisting families in realizing the American dream of homeownership for over five years. Prior to joining the Arbor Financial team, Rob owned an independent mortgage branch. He specializes in first-time homebuyers and purchases, as he finds it rewarding to help people make one of the largest transactions of their lives. When Rob is not assisting members, he and his wife, Lauren, can be found outdoors chasing upland birds in the Michigan wilderness with their two hunting labs, Togo and Mando.

 

Contact Information

Meet Robert Merrill, Mortgage Loan Originator

Email: rmerrill@arborfcu.org​
Direct Phone: 616.541.2755
NMLS ID: 1171718​


View Mortgage Specials

Apply with Robert
Evaluation required and ordered by a lender to determine value based on physical inspection and comparable sold properties.
Costs associated with purchasing the home and closing the transaction.
Monthly debts (from credit report) plus PITI (principal, interest, taxes, insurance) divided by gross monthly income = DTI.
Required if not putting 20% down. This is an additional monthly fee for the lender to pay property taxes and homeowners insurance (i.e. Principal and interest are $600.00/month. Property taxes are $2,000.00 annual ($166.67/month). Homeowners Insurance is $600.00 annual ($50.00/month). Total monthly payments will be $816.67).
Loan amount divided by purchase price equals LTV.
A closing cost charged by the lender for processing the loan; may also be called Processing Fee or Underwriting Fee.
Principal, interest, taxes, insurance.
The borrower has the option to buy down the interest rate by buying a point. A fee is added to closing costs (i.e. For 1% of the loan amount, the rate will be reduced by .25%).
Items that are required to be pre-paid for closing of the loan. If you escrow for homeowners insurance, one year of prepaid homeowners insurance is required.
Insurance to the lender that the property is free of any liens.
Typically required by the lender if LTV is greater than 80%.
At the time of application, you may choose to lock in your rate for a designated period of time or float and lock in at any time prior to close.

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