Buying a home?
Understand down payments, closing costs and the steps to buying your first home in Michigan.
Explore the home buyer guide →What Are You Trying to Accomplish?
Your Lender for Life.
Buying your first home? Found a house? Wondering if you can qualify? Self-employed? VA? Or did another lender tell you no?
You don’t need to know which mortgage you need. That’s my job.
Tell me what’s going on. I’ll help you understand your options and figure out the next step.
No pressure. No obligation. Just a conversation.
Real People. Real Conversations. A Better Way Forward. Mike Alkema · Leeward Point · NMLS #642953.
Your Lender for Life.
What Are You Trying to Accomplish?
Buying your first home? Found a house? Wondering if you can qualify? Self-employed? VA? Or did another lender tell you no?
You don’t need to know which mortgage you need. That’s my job.
Tell me what’s going on. I’ll help you understand your options and figure out the next step.
Tell Mike what you’re trying to do →Click here if you were referred by your RealtorNo pressure. No obligation. Just a conversation.
Mike Alkema · Leeward Point Mortgage · NMLS #642953
30+ Years
of Experience
of Experience
Multiple
Lender Options
Lender Options
Straight
Answers
Answers
Local Knowledge
West Michigan
West Michigan
Find your next step toward a Michigan mortgage.
You don’t have to know the name of the loan. Start with your situation, and I’ll help you understand what to compare.
Self-employed?
Learn how tax returns, bank statements and 1099 income may fit different mortgage options.
Compare self-employed options →Buying a rental property?
See how a DSCR calculation works and which property expenses to consider before deciding.
See the rental property checklist →Have a different situation? Ask Mike about your next step →
When You Call Mike,
You Get Mike.
For more than 30 years, I’ve helped people make mortgage decisions. And I’ve learned something:
The mortgage isn’t the most important part of this business. The relationship is.
I’m not interested in closing one loan and disappearing. I want to be the person you call years from now, when you’re thinking about moving. The person your kids call when they’re ready to buy their first home. And the person you’re comfortable introducing to somebody you care about.
That’s what Your Lender for Life means.
Mike
Maybe You’re Just Wondering...
Click a question to start a conversation.
Can I actually
afford to buy?›Is this mortgage
quote any good?›I’m self-employed.
Can I qualify?›The bank turned
me down.
Now what?›How does my
VA benefit work?›I found a house.
What should I do next?›
Not sure? That’s perfect.Tell me what’s going on and we’ll figure it out together.ASK MIKE →afford to buy?›Is this mortgage
quote any good?›I’m self-employed.
Can I qualify?›The bank turned
me down.
Now what?›How does my
VA benefit work?›I found a house.
What should I do next?›
Michigan mortgage questions, answered
Straight answers to 10 common mortgage questions, with links to practical next steps for Michigan homebuyers.
How much house can I afford?
Start with a monthly housing cost that fits your budget, rather than the largest loan you might qualify for. Include principal, interest, property taxes, homeowners insurance, any mortgage insurance and association dues. Leave room for maintenance, other debts and savings. Your income, debts, credit and available cash affect loan approval.
Estimate a comfortable home budgetDo I need a 20% down payment to buy a home?
No. Some eligible conventional borrowers can put as little as 3% down; other loan programs have different requirements. A smaller down payment may increase mortgage insurance or other costs. Set aside money for closing, moving and an emergency cushion before choosing your down payment.
Plan your first-home cash needsSource: Fannie Mae guidance on Do I need a 20% down payment to buy a home
What credit score do I need to get a mortgage?
There is no single credit score requirement for every mortgage. The loan program and lender set the rules, and the decision also considers income, debts, assets and credit history. Stronger credit can improve your loan choices and pricing. Check your reports for errors before applying and ask Mike which options fit your complete situation.
Explore ways to prepare your creditSource: CFPB guidance on What credit score do I need to get a mortgage
What is the difference between mortgage prequalification and preapproval?
Prequalification generally gives an early estimate based on information you provide. Preapproval usually involves a closer review of your credit and financial documents, but lenders use these terms differently. Ask what was verified and what conditions remain. Neither is a guarantee of final financing; the borrower, property and loan must meet the lender’s requirements.
Prepare before you shop for a homeSource: FDIC guidance on What is the difference between mortgage prequalification and preapproval
Which mortgage is right for me: conventional, FHA, VA or USDA?
The right program depends on your eligibility, property, credit, cash available and long-term plans. Compare conventional financing with any FHA, VA or USDA options you qualify for, including insurance and program fees. Also compare loan terms and fixed versus adjustable rates. A fixed interest rate does not prevent taxes or insurance costs from changing.
Compare Michigan mortgage optionsSource: CFPB guidance on Which mortgage is right for me: conventional, FHA, VA or USDA
What is the difference between the interest rate and APR on a mortgage?
The interest rate measures the cost of borrowing the loan balance. The annual percentage rate, or APR, includes the interest rate plus certain fees and charges, so it is usually higher. Compare Loan Estimates for the same loan amount, type and term, and review points, cash to close and rate-lock terms as well as APR.
Ask Mike to compare your Loan EstimatesSource: CFPB guidance on What is the difference between the interest rate and APR on a mortgage
How much are mortgage closing costs, and are they separate from my down payment?
Closing costs are separate from your down payment and can include lender charges, appraisal and title fees, and prepaid or escrowed expenses. Freddie Mac gives a general planning range of 2%–5% of the purchase price, but your actual costs can differ. Use your Loan Estimate and Closing Disclosure to confirm the cash needed after deposits and credits.
Understand cash to close in MichiganWhat is private mortgage insurance, and will I have to pay it?
Private mortgage insurance, or PMI, is commonly required on conventional loans with less than 20% down. It protects the lender if you stop paying and adds to your borrowing cost. Ask how the premium is paid and what cancellation rules apply. FHA and other government programs have different insurance or fee structures.
Compare total costs across loan programsSource: CFPB guidance on What is private mortgage insurance, and will I have to pay it
What documents do I need for a mortgage, including if I am self-employed?
Expect requests for identification, income records and account statements showing funds for the purchase. Depending on your income, you may need pay stubs, W-2s, tax returns, 1099s or business records. Self-employed documentation varies by program. Ask for a tailored checklist and provide sensitive documents only through the approved secure application or document channel.
Explore self-employed documentation optionsSource: Fannie Mae guidance on What documents do I need for a mortgage, including if I am self-employed
How long does it take to close on a mortgage?
Freddie Mac describes a general loan-closing timeline of 30–60 days, but that is not a promise for your loan. Appraisal, title work, underwriting, document requests and the purchase contract affect timing. Ask Mike for a realistic schedule for your situation and respond promptly to requests. Do not assume preapproval means every closing condition is complete.
Discuss your homebuying timeline with MikeSource: Freddie Mac guidance on How long does it take to close on a mortgage
Sources checked October 24, 2026. General information. Loan eligibility, documentation, costs and terms depend on the program, lender, property and underwriting review. Mike Alkema · Leeward Point Mortgage LLC · Individual NMLS #642953 · Company NMLS #1823590 · Serving Michigan. Ask Mike about your situation.
Already Have a Mortgage Quote?
Send it to me.
I’ll review the payment, points, lender fees, credits and cash-to-close and tell you what I see. Maybe you already have a great deal. Maybe there’s something worth changing.
Either way, you’ll know.
SEND MIKE MY LOAN ESTIMATE →No application required.What People Are Saying
Real conversations. Clear explanations. Relationships that last.
★★★★★
“Mike is very transparent and explains exactly where every dollar is going.”Brandon WilcoxFirst-time buyer
★★★★★
“he keeps it straightforward, and honest”Rhonda MartinezRepeat client
★★★★★
“The closing process was seamless and hassle-free, thanks to his meticulous organization and clear communication.”Ken WentlandHome buyer
★★★★★
“Along the whole way he was so responsive, kind, knowledgeable.”Devinie DeZeeuwMortgage client
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Want to improve your credit before buying?
Start with free credit reports, explore Dave Ramsey’s Financial Peace University, and use AI to compare payoff options with a realistic budget.