If you’re looking to buy a home soon, you’ll want to start saving for a down payment – and thinking about getting pre-approved for a home loan. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know that before you do, it’s worth checking your credit score to see whether you need to bring it up to increase your chances of qualifying. Your first step is to visit www.annualcreditreport.com to get your free credit report. Some of the things lenders will look for include your debt-to-income ratio, the number of late payments, recent credit inquiries and how many credit accounts you have open. For an additional fee, you can check www.myfico.com to learn your FICO score which is a key factor in your ability to qualify for a loan and a reasonable interest rate. The higher your score is, the better your chances are of getting a reasonable interest rate. Check out below to see what sold in Stonewater in August 2016:
If you find out that your score isn’t yet at an ideal place to qualify for an affordable home loan, consider taking a few months to get it within a range that improves your chances of qualifying. For more information on Stonewater, or similar Northville or Novi neighborhoods such as Steeplechase, Woods of Edenderry and Cheltenham Estates, contact The DiMora Team today at 248-505-7728 or firstname.lastname@example.org.