When you sign papers to buy a new home, your thoughts might immediately drift to what you’d like to buy to turn it into your perfect place. New appliances, new furniture, it all adds up. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know its best not to make large purchases during the ‘quiet period. This is the period between the approval and the closing. Lenders can vary in how they enforce this new initiative, which is a second credit report pulled right before closing. Any large purchase could very well throw your debt-to-income ratio off. It is important for home buyers, and also those looking to refinance their mortgage, to be aware that unlike the boom years, today every action that pertains to your credit will be considered until the closing, and that credit splurges during the quiet period are a clear no-no in today’s mortgage environment. The good news is that if you put those credit cards on ice until your new home is really yours, you should have a smooth closing. Check out below to see what sold in Dunbarton Pines in January 2016:
44458 Midway Drive, Novi: 4 bedrooms, 3.1 bathrooms, 2,714 sq. feet, 2 car garage, Sold Price: $390,000
Dunbarton Pines Home Sold
January 2016
Just wait a little bit, until after the mortgage is closed, and you’ll be able to afford to splurge on the perfect furnishings and accessories for your new home. For more information on Dunbarton Pines, or similar Northville or Novi neighborhoods such as Maple Hill, Royal Crown and Turtle Creek, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.