Down Payment For Your First Home In Oakland County Michigan

So you’ve decided to purchase your first home in Oakland County, Michigan. Congratulations! Purchasing a home is a huge decision, and it can be one of the most exciting and rewarding experiences of your life, but getting the down payment can be tricky and challenging. But purchasing a home requires capital, and if your savings account is looking a little trim, it means that you will have to do some budgeting in the upcoming year to make your dream of being a homeowner a reality and having that elusive down payment. Here are 7 budgeting tips to help you buy …

Biuying Yoout Farmington Hills Home Money

Buying Your Farmington Hills Home-How Much To Borrow

Thomas Gilliam Blog , buying a home , buying a home in oakland county michigan , Farmington Hills , Mortgage , Uncategorized Leave a Comment

The “rule of thumb” regarding loans is that your monthly housing payment such as the taxes, bills, insurance, mortgage, etc., should not be more than 28% of your income that you receive every month. When it comes to FHA loans, the balance of ration might be higher. The question that remains is, “How much do I need to borrow when buying your Farmington Hills Home?” Here’s what you should focus on: it all comes down to “down payment”. The higher the amount you have saved, the easier it will be to get a mortgage loan for your Farmington Hills home. …

crowdfunding circle

Crowdfunding For Home Purchases – A Futuristic Reality

Thomas Gilliam Blog , downpayment , firsthome , Oakland County , Uncategorized Leave a Comment

When looking to purchase a home in Oakland County, Michigan for the first time can be a difficult proposition and for for many potential buyers, one of the biggest obstacles on the road to homeownership is saving for a down payment. But thanks to a new technology trend, some savvy buyers are turning to their friends, family, and social networks for help in their home purchase these days, and it seems to be a trend that is spreading across the country. It is clear that technology and social networking can be a great way to stay tuned socially and in …

Your First Home-What To Look For

When you’re buying your first home, there’s so many things to consider: you need to secure a home loan, find a realtor, decide on an area… the process can be a bit overwhelming. And as someone new to the home purchasing process, it can be challenging to know exactly what to look for in a home. What kind of criteria should you be judging potential homes against? Here are 4 things you should look for when you’re buying your first home: 1. A House You Can Grow Into Purchasing is not like renting. When you rent, if your home no …

Farmington Hills First Time Buyer Guidance

Buying real estate may be somewhat scary. The Farmington Hills first time buyer guidance in this blog will clarify certain things. Homes are a big financial investment and buyers should become well educated. The First Steps                                                                                                                                  …

homeownership-Timing-Couldn’t-Get-Better

Homeownership Timing Couldn’t Get Better

Thomas Gilliam Blog , buying a home , first time home buyers , homeownership Leave a Comment

In the current economic climate, a lot of renters thinking homeownership is out of their reach. But if you think buying a home is out of reach, you might want to think again.  According to the National Association of Realtors’ Realtors Confidence® Index, first-time buyers accounted for 29% of all home sales from late 2016 to late 2017. That’s nearly one-third of all home sales! And there’s a reason so many people are making the transition from renting to owning… Rents are rising. According to a recent Zillow study, the median US rent is taking up 29.1% of household income, …

A Condo or Townhome In Mind

A Condo or Townhome In Mind

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Homeownership can be a great investment that also gives people a sense of stability and control. Yet, many first-time buyers don’t have the time, interest or budget to handle a home with a yard. Condominiums, co-operatives and townhomes are three options available to newbie home buyers seeking an alternative to single-family dwellings. Advantages Daily life in a townhome, condo or co-op can be less taxing — both in terms of lifestyle and expense. Lacking a yard and living in a multi-unit complex allows owners to spend time away from home without much worry about upkeep or security. The “lock and leave” …