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. …

3 Questions before Buying a House

Buying a House-Ask Yourself These 3 Questions First

Thomas Gilliam american dream , buying a home in oakland county michigan , buying a homes , Mortgage Leave a Comment

Buying a house is everyone’s favorite “American Dream”. People save for years, so that they can live comfortably and secure their future. Today, the real estate market is quite unpredictable. The demand is on high and the supply is less. Sellers are facing too much competition and are taking different tactics to market houses. The current real estate trend requires you to do your homework before browsing the market. Jumping the gun will cost you extra and unbiased advice from friends and family. This might force you to take the wrong decision, which is why it is important to proceed …

Down Payment Under 6% For Many Home Buyers

It seems that the biggest hurdles and worries for penitential home owners is the down payment on a home, leaving potential home buyers feeling defeated in the first steps to moving and getting their own home. The potential home buyer still believes that it is the 20% traditional down payment that is needed to secure a mortgage and to purchase a home. This way of thinking and believing can stop any potential home buyer from even taking the first step into becoming a homeowner, but this has changed and many potential home buyers are unaware that the traditional days are …

Credit Behaviors – Advice For Potential Farmington Hills Home Buyers

Credit behaviors and credit ratings are generated by three major credit agencies (Experian, Equifax, and Transunion). They all use a differing formulas to generate a numerical rating that reflects your credit risk. The higher the number, the better the credit rating. Certain things may have a adverse effect on your score and could possibly result in you getting turned down for a mortgage. Below are advice for potential Farmington Hills home buyers on credit behaviors that impact the ability to get a loan. Credit Behaviors That Impact The Ability To Get A Loan Tardy Payments Missing payments demonstrate poor credit …

Mortgage Loan-The Four Key Benefits For You

Mortgage Loan-The Four Key Benefits For You

Thomas Gilliam Blog , Mortgage Leave a Comment

A Mortgage, It’s a big decision: Taking on a monthly mortgage payment is no small matter. That payment will probably become a homebuyer’s biggest expense. And what if you can’t pay on time? Get sick? Lose a job? Divorce? You could see your credit score plummet. But there’s another side to taking on a first mortgage loan. Not only does such a loan allow a renter to become a homeowner—that mortgage also brings with it several financial benefits, everything from big savings at tax time to a boost in your credit score. If you’re debating whether it’s time for a …