Six First Time Home Buyer Tips

Here are six first time home buyer tips if you are thinking about buying your first West Bloomfield home:

1.) Reduce your consumer debt - pay down credit card balances. The more you owe on credit card raises your monthly credit card payment. A Bank looks at all of your month payments to determine what you can afford. Larger credit card payments will reduce the price of the house you can buy.

2.) Save for your down payment. Your lender will want you to have the down payment in hand when you apply for the mortgage. Plus you have some extra savings to buy items to fix the house or to furnish the house.

3.) Decide how much you are willing to spend for a home (different from how much you can afford). Sit down and think about what a comfortable payment would be for you. What kind of payment will not leave you house poor. What kind of payment will allow you to take vacations and to live... Not just to live for your house?

4.) Get familiar with basic mortgage terms. Understanding the mortgage process will help make the home buying process less stressful. 

5.) Get pre-approved for a mortgage loan. Go see a lender or loan office. Bring your financial documents so he can look them over. After you have met with him he will issue you a pre-approval letter if you qualify. During this process the lender will determine home much you can afford to pay for a home. Sometimes it will be more than you want to spend. So do not go overboard. 

6.) If you have credit blemishes, get a copy of your credit report. Correct any errors that may be stopping you from getting a mortgage. 

Not only does Oakland county have great lakes to choose from you should take look at Livingston County lakes by size 

Long Lake Hartland

Find Michigan lake homes for sale lp here and start your home buying journey now!

Fonda Lake

Check out   Van Norman Lake sales Compare your home or see what you could be buying into. 

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0000 7 Mile Seven Mile Rd

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Beds: 2 • Baths: 3 full