The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know that when you shop for a mortgage you need to have at least some idea of what your down payment will be so you can figure out what your interest rates will be. Some loan programs charge a slightly higher interest rate for minimal down payments. Plus, the interest rates for different loan programs are not the same. For example, conventional, VA, and FHA all offer fixed rate loans. These rates will vary from one program to another. If you shop for a lender by phone, the loan officer will be able to tell you which programs fit and quote your rates accordingly. However, if you are shopping on the Internet, you have to develop some idea of your loan program on your own. Check out below to see what sold in Lakewoode Parkhomes in November 2017:
39732 Village Wood Circle, Novi: 2 bedrooms, 1 bathroom, 860 sq. feet, 1 car garage, Sold Price: $107,000
Lakewoode Parkhomes Home Sold
November 2017
Another reason you need to have a clue about your down payment is because it affects how you write your offer to purchase a home. Not only are you required to put your down payment information in the offer, but also different loan programs have different rules that also affect how you write your offer. For more information on Lakewoode Parkhomes, or similar Northville or Novi neighborhoods such as Country Place, Highland Lakes and Crosswinds West, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.