can I buy a house for 700-900-per month in Ferndale?

Asked by Karen Hickman, Southfield, MI Tue Mar 25, 2008

Interested in a house in the Ferndale Michigan area. Want a house payment between $700-$900 per month. Can you help me?

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Nicole Sleeva, , Novi, MI
Tue Mar 25, 2008
Hi Karen -

There are some factors that a mortgage lender would have to review before answering the question: Do you have money to put down? How is your credit? - those are just a couple to consider. Yes, it is possible to purchase a home in Ferndale (I know a few great ones) but your personal situation would have to be reviewed before that question could be answered completely. Please feel free to send me an email and I can refer you to a couple great lenders.

Nicole Sleeva
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1 vote
smith3gary, Agent, White Lake, MI
Tue Mar 25, 2008
Karen, I would have to agree with the previous answers. Lenders have tightened their guidelines. If you can qualify for a loan, there may be a home with total payment (payment, interest, taxes, and insurance) in your range. There may also be condos or townhouses within your range. For any mortgages, you may have to provide a downpayment of up to around 5 percent because Ferndale is a declining market.

The first place to look would be a mortgage lender. There are several good local companies or you can look on the website below for a list of lenders approved by the government.
0 votes
Brian Butter…, Agent, Royal Oak, MI
Tue Mar 25, 2008
How much can you put down?
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