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Arcadia Ridge Real Estate Sales Report in May 2015

If you are planning on applying for a mortgage to buy a home, an authorized credit card can be a double-edged sword.  While this might improve your credit score, that’s not the only thing lenders will look at when examining this account for your mortgage application.  The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know that a closed-out credit card does not count as an active current trade line and unfortunately has no financial significance to a mortgage lender deciding whether or not to grant you a home loan.  When applying for a mortgage, a lender is going be looking for at least two open trade lines.  In order to get a mortgage these days, you’re going to need a credit score of at least 620 for most loan programs, including the conventional and FHA types.  Check out below for what sold in Arcadia Ridge in May 2015:

16935 Yellowstone Drive, Northville:  4 bedrooms, 3.1 bathrooms, 4,212 total sq. feet, 2 car garage, Sold Price:  $478,000

Arcadia Ridge Home Sold
May 2015

You have to know where you stand when you apply for a mortgage.  You can check your credit reports for free once a year from each of the major credit reporting agencies.  For more information on Arcadia Ridge, or similar Northville or Novi neighborhoods such as Addington Park, Barclay Estates and Quail Ridge, contact The DiMora Team today at 248-505-7728 or

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