Your credit history score is very important – it’s how lenders decide how likely you are to default on your mortgage payments and what they use to assign you a credit-risk rating. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know that if you’re considered high-risk, you may have to look beyond traditional lenders like banks and co-ops and instead look at lenders willing to lend to a higher-risk borrower. However, a lender accepting a higher credit-risk comes at a price: you’ll have to pay higher interest rates. Those higher interest rates mean that you’ll be paying more to borrow the same amount of money. This means that higher interest rates could impact how much you can borrow while staying within the acceptable amount of income that should go to paying for housing. Check out below to see what sold in Dunbarton Pines in December 2018:
22842 Waycroft Drive, Novi: 4 bedrooms, 3.1 bathrooms, 2,384 sq. feet, 2 car garage, Sold Price: $387,900
Dunbarton Pines Home Sold
It can be tempting to set aside more money, but staying within this target will allow you the wiggle room you’ll need for unexpected expenses and to save for other life expenses such as retirement or your children’s education. For more information on Dunbarton Pines, or similar Northville or Novi neighborhoods such as Roma Ridge, Turtle Creek and Maple Hill, contact The DiMora Team today at 248-505-7728 or email@example.com.