Oakland County Michigan Real Estate Homes for Sale

Mortgage Calculator- How Much Can You Afford?


 

 


 

Our calculators will help you determine loan amounts, mortgage qualification, affordability or whether you should be renting or buying.

Complete the fields below and click Calculate Now. To view the results of each calculation, click on the various tabs.  To email yourself a copy of the results, click the Receive this Detailed Analysis link.

 

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
Results
  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
 
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
 
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %

Buying a Short Sale- The Good The Bad and The Ugly


Below are the 5 most recent blog posts I wrote about buying short sale listings in Oakland and Lapeer Counties. For a complete list please go to my buyer blog at http://SoutheastMichiganRealEstate.Wordpress.com and click on the short sale category. Or simply click on this link.

My buyer blog at http://SoutheastMichiganRealEstate.Wordpress.com is a pretty complete resource for all aspects of purchasing a home in Oakland and Lapeer County Michigan with articles covering how to write an offer, the home buying process, how to figure your new taxes after purchase, market conditions for various areas including my predictions about future market conditions. And of course it is a pretty complete resource for all that is involved in buying a short sale or foreclosure listing.

Jackie Hawley

cell: (248)736-6407

Jackie@JackieHawley.com

Short Sale – Southeast Michigan Home Buyer Information

Buying an Oakland County MI Short Sale Listing- What to Expect Between what I’ve heard on TV and radio, read and from conversations I’ve had with clients, potential clients, other agents, relatives, friends… I have learned that there are a whole host of definitions for the term “short sale.” And most of them not very […]

Oakland County MI Real Estate A short sale is when the house is offered for sale by the owner (person as opposed to a bank) who owes more than what is owed. Once an offer is accepted, the bank has to agree to reduce the mortgage payoff. Usually some of the leg work has been […]

Short sales in Clarkston Michigan – click here for the very basics including my attempt to define exactly what a short sale is and the basic steps involved. Below is more about what to expect throughout the short sale transaction. Short sale listings can be some of the best bargains available in Clarkston MI, but […]

Making an Offer on an Oakland County Michigan Short Sale Listing? The Asking Price Means Nothing! First a quick run down about how the short sale process works. Owner lists a house with a real estate agent. The owner owes more on the house than he can sell it for and is either unable or […]

Southeast Michigan Short Sales- Why You Should Avoid Many Of The So Called “Short Sale Specialists” I will preface this post with a kind of anti-disclaimer: If you have to sell via short sale, I DO NOT WANT TO LIST YOUR HOUSE. If you are a past client or a friend, I will list your […]


Buying a "Normal" Home Listing - Not a Short Sale or Foreclosure


Below are the 5 most recent blog posts I wrote about buying "normal" or non-distressed home listings (not short sales or foreclosures) in Oakland County MI. For a complete list please go to my buyer blog at http://SoutheastMichiganRealEstate.Wordpress.com and click on the "buying NON distressed homes" category. Or simply click on this link for posts covering topics such as the purpose of the home inspection, what is an earnest money deposit, why you need title insurance, what are seller concessions, etc.

My buyer blog at http://SoutheastMichiganRealEstate.Wordpress.com is a pretty complete resource for all aspects of purchasing a home in Oakland County Michigan with articles covering how to write an offer, the home buying process, how to figure your new taxes after purchase, market conditions for various areas including my predictions about future market conditions. And of course it is a pretty complete resource for all that is involved in buying a short sale or foreclosure listing.

Jackie Hawley

cell: (248)736-6407

Jackie@JackieHawley.com

buying NON distressed homes – Southeast Michigan Home Buyer Information

The 72 hour contingency clause is often referred to as a first right of refusal; that is close but not quite accurate. A first right of refusal is an agreement between a seller and potential buyer that if the seller accepts an offer on a piece of property the potential buyer has a certain time […]

Interest rates are low- super low. How low? Low enough you can pay today’s prices for a smaller payment than 2008 prices with 2008 interest rates. Last week’s rates for a 30 fixed with 20% down and a half point was 3.625%. With good credit of course. A few weeks ago you could get a […]

When an Oakland or Lapeer County home buyer comes to us with a pre-approval letter for an FHA mortgage we will ask both you and your loan officer “Why FHA?” It’s not that we are FHA snobs or don’t want to work with FHA buyers, but FHA does come with its own baggage. Baggage that […]

Turning your home into that “dream house” Most Oakland County home buyers come to us with expectations for a home that exceed their budgets. Most people aren’t buying their “forever home” (too much time on pet finder with dogs looking for their forever homes). Many settle for something they like, build some equity and sell […]

Customer Service…. What doe is mean to you? I have been selling real estate for a touch over 23 years and it still amazes me sometimes how little effort other “professionals” put into a transaction. A little background without names or exact location. One of my listings is supposed to close this Friday. The sale […]


The Nuts and Bolts of Buying a Foreclosure Listing


Below are the 5 most recent blog posts I wrote about buying foreclosure listings in Oakland County MI. For a complete list please go to my buyer blog at http://SoutheastMichiganRealEstate.Wordpress.com and click on the foreclosure category. Or simply click on this link.

My buyer blog at http://SoutheastMichiganRealEstate.Wordpress.com is a pretty complete resource for all aspects of purchasing a home in Oakland County Michigan with articles covering how to write an offer, the home buying process, how to figure your new taxes after purchase, market conditions for various areas including my predictions about future market conditions. And of course it is a pretty complete resource for all that is involved in buying a short sale or foreclosure listing.

Jackie Hawley
cell: (248)736-6407

Jackie@JackieHawley.com

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Foreclosures – Southeast Michigan Home Buyer Information

Buying an Oakland County or Lapeer County Foreclosure? What to Expect Or more precisely what not to expect. Don’t expect to be able to negotiate anything other than price. Think $150 to re-key a door is high? Too bad. There’s no way around it and you won’t get the key at closing. It may be […]

Can A Seller REALLY Enforce That The Buyer Not Resell For A Specific Period Of Time? A lot of the bank and government owned listings specify owner occupied only for the first couple weeks or for the first month. They require the buyer to sign a document that the house will be their primary residence […]

Lake Orion Michigan Foreclosure Listings Are NOT Available For Sale BEFORE Hitting The MLS I am asked multiple times a week if I can let someone know about Lake Orion MI foreclosure listings before they hit the market. When I say “there is no way” I am then often asked about RealtyTrac. RealtyTrac reports foreclosure […]

Am I Overpaying? Is the listing overpriced? What is the house worth? All questions, or variations of questions, most buyers ask when buying a house. They are valid questions with not easy or pat answer. The value of the home depends on your point of view. Webster defines “value” as “a fair return or equivalent […]

Michigan Foreclosures- New Buyer Fee to Consider It is customary in Michigan real estate transactions for the seller to pay the transfer tax- both state and county- to the tune of .86 of a per cent of the sale price. Bank owned homes backed by Fannie Mae and Freddie Mac have been exempt from this […]


Local Market Conditions North Oakland County MI


Below are the 5 most recent blog posts I've written about the local market- sales data, neighborhood and lake information. You can see all the posts I've written about the local market by going to http://SoutheastMichiganRealEstate.Wordpress.com and clicking on the market conditions category on the right hand side or simply click here.You may also want to check out post about lakefront real estate, and local recreational attractions.

Jackie Hawley
cell: (248)736-6407

Jackie@JackieHawley.com

Oakland County Lakefront Homes for Sale

Oakland County Lakefront Home Sales and Lake Data

Lapeer County Lakefront Homes for Sale

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Lake Orion

Clarkston

Oxford

Lapeer

market conditions – Southeast Michigan Home Buyer Information

Interest rates are low- super low. How low? Low enough you can pay today’s prices for a smaller payment than 2008 prices with 2008 interest rates. Last week’s rates for a 30 fixed with 20% down and a half point was 3.625%. With good credit of course. A few weeks ago you could get a […]

If you tried to sell your Lapeer County Lake house last year with no success, AND you were a fairly high priced listing, do not despair. It was not your house- it was the market. In 2014 there were only 4 lakefront sales over $600,000 and all 4 were on acreage. 2 of those were […]

Lake Orion MI Home Sales- Market Update Unit sales are down and average and median sales prices are up. Or are they? Lake Orion, MI is recovering from a housing crisis that lasted close to a decade. Statistics show that prices started dropping in 2006. I felt it in 2005. In 2009 the amount of […]

Oxford MI Home Sales- Trend or Anomaly? Trend! You can see from the charts below, the average sales price every month in 2013 beat the same month from the previous year. When you compare 2012 to 2011 you can see the lines criss crossing, but 2012 prices were higher than 2011 more times than not. […]

Oxford MI home sales – units, prices and total sales volume were up significantly (2013 over 2012). Unit sales in 2013 were up 16% from 2012. The average sales price was up 21% from 2012 and up 26% from 2011. Volume sales were up almost 22 million from 2012 and distressed sales were down significantly. […]