Novi, Northville and Farmington Hills real estate and homes for sale in Michigan - The Jamey Kramer Group, REALTORS® The Jamey Kramer Group REALTORS(r) for Novi, Northville and Farmington Hills, Michigan real estate - NUMBER1EXPERTS™ The Jamey Kramer Group NUMBER1EXPERTS(tm) for Novi, Northville and Farmington Hills, Michigan real estate
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Why Buyers Choose Us: Why homebuyers in the Novi, Northville and Farmington Hills area choose The Jamey Kramer Group as their Realtors
Latest Listings: Get The Jamey Kramer Group's latest Novi, Northville and Farmington Hills listings of homes for sale first!
Find Your Perfect Home: The Jamey Kramer Group will search for your ideal home and email you the newest Novi, Northville and Farmington Hills MLS listings of properties in Oakland County MI
First Time Homebuyers: Are you a first time homebuyer in Novi, Northville and Farmington Hills, MI? As top Realtors, The Jamey Kramer Group can guide your home buying search
Mortgage Prequalification: Pre-qualify for a mortgage or loan for your Novi, Northville and Farmington Hills house or other real estate or property
Monthly Payments & Schedule: Monthly loan payments java mortgage calculator
How Much Can You Afford?: Calculate how much home you can afford with this financial calculator
Determine Tax Savings: Calculate how much your monthly Novi, Northville and Farmington Hills Michigan mortgage payments save you on your taxes because of loan interest
Should You Rent or Buy?: Is it better to rent a home in Michigan or buy your own Novi, Northville and Farmington Hills house, ranch, luxury property, condominium, acreage, or other real estate?
Adjustable Rate Mortgages: Adjustable rate Novi, Northville and Farmington Hills mortgages information and interest rate java calculator
What Is Your APR?: Determine the Annual Percentage Rate (APR) for your mortgage.
Fixed or Adjustable Rate Mortgage?: Use this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM.
Are Balloon Mortgages For You?: Balloon mortgage calculator. A balloon mortgage can be an excellent option for many home buyers.
15 vs. 30 Yr Mortgages: With a 15 year mortgage you will pay significantly less interest, but only if you can afford the higher monthly payment. Use this calculator to compare these two mortgage terms.
How Much Should Your Income Be?: What income is required to qualify for a mortgage? Use this calculator to find out.
What's Your Maximum Mortgage?: This calculator will help you determine your maximum monthly housing payment and the resulting mortgage amount.
Will Buying Points Save You Money?: This calculator helps you determine if you should pay for points, or use the money to increase your down payment.
Free Buyer Reports: Click here for free buyer reports...

 

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Real Estate Tips
Financing Your Home >ARMs

Here is a tip for those who are shopping for Adjustable Rate Mortgages (ARMs): the "margin" is almost as important as the initial rate. The margin is the percentage point above the average yields for Treasury notes on which future rate adjustments will be calculated.

Let's compare two hypothetical one-year ARMs. The first may have an initial interest rate of 7% with a 2.5 margin, while the second begins at 6 7/8% with a 2.75 margin. Both loans have rate caps of 2%. Suppose that at the end of the first year of the loan, the average of the one-year Treasury note yield has been 5 1/2%. For each loan, the lenders will add the margin to that 5 1/2% average yield. Thus the interest rate for first loan would increase from 7% to 8%, and the second would go from 6 7/8% to 8 1/4%. While the first ARM had a slightly higher initial rate, it will have lower rates in subsequent years, unless the Treasury note rates increase enough to activate the annual caps on the amount of the increase. There is a wide variance among margins in ARMs offered by competing lenders, and this should be a factor when you decide on your loan.

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Real Estate Trivia
Q 
What private residence is considered the most expensive house ever built?

A 
The William Randolph Hearst Ranch in San Simeon, California cost over $30 million, equivalent today to $276,883,320. Bill Gates recently built a home for over $40 million.
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Jamey Kramer's Home Team, REALTORŪ, real estate agents and broker for Novi, Northville and Farmington Hills Michigan home listings, property and land for sale - NUMBER1EXPERT(tm)

The Jamey Kramer Group
RE/MAX 100

26870 Beck Rd.
Novi, MI 48374
248-348-7200
800-965-SOLD
Email: Jamey@JameyKramer.com

Jamey Kramer is America's NUMBER1EXPERT in the Novi and Northville, Michigan Area. He has been the leading individual residential sales agent in the area for several years. Jamey's integrity, work ethic, and real estate knowledge make him the obvious choice for assisting you in the sale or purchase of your new home. Jamey is noted for his professionalism and efficiency. Whether you're looking to buy or sell a home in the Novi or Northville area, contact Jamey Kramer at RE/MAX (248)348-3000 or email him at Jamey@JameyKramer.com.

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