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. …

Income Has Risen But Will It Lead To Home Sales?

Income Has Risen But Will It Lead To Home Sales?

Thomas Gilliam Blog , buyer market , income increase , seller market , tax plan Leave a Comment

In this early spring market across the county especially here in Oakland County Michigan inventory seems to be a major issue in home sales and in the housing market in general. It seems that with the new tax law will add more income to home buyers and sellers, but as of yet shown in the housing market. It seems there is still uncertainty with home buyers and home sellers along with rising interest rates that is plaguing or areas and others. As a Realtor for the last 17 years I really haven’t experienced anything quite like what is going on …