Helping you find solutions in challenging times

I know there is a lot of uncertainty in our world. Real estate is facing its fair share of uncertainty. Hopefully, there will be some ease on the real estate industry, as it is essential to our economy.

Jeff ClatterbaughWe are here to help people find solutions during these challenging times. There are some real changes in the industry. Some are good and some not so good, but necessary. Here are a few points to help. Uncertainty often leads to rumors also, so I thought it might be beneficial to review those also.

Changes in Real Estate:

  • Increased appraisal flexibility to allow for Desktop or Drive-by appraisals for purchase transactions. Avoiding Interior inspection for safety of clients.
  • Increase appraisal waivers- the ability to avoid appraisal completely.
  • We have the experience and technology to help with listing and purchasing houses in this market. We can provide the advice to help you put together a plan.
  • Technology and electronic documentation to help you through the process


  • Increased Minimum Credit Score requirements
  • Increased Down Payment requirements

There are some individual lenders that have imposed company specific overlays to increase minimum credit score requirements and down payments.

As a Community Bank headquartered and serving our partners and customers throughout Michigan, here are a few additional items to note specific to Independent Bank:

  • We have not added any extra credit requirements
  • Continuing to provide Bridge loans up to 80% to help when handling a purchase of house before selling
  • Continuing with in house portfolio lending including Jumbo financing and construction loans
  • We are helping clients with personal and business financing needs through these difficult times

If you have any questions related to anything mentioned in this email, please let me know and I will be happy to explain in further detail. It is easy to be a partner when everything is easy, but a true partner you can trust and rely on is there when things are tough or rocky.

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