The advice from most mortgage professionals to first-time home buyers is to begin sprucing up their credit at least six months before applying for a loan. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know that credit scores and credit reports are readily available for purchase online, but figuring out which is most accurate can be daunting. A credit score and a credit report are different, but related. The credit report contains a consumer’s credit history, including things like credit-card use and auto loans, as well as debts that were sent for collection and bankruptcies. A credit score is a single number that represents credit risk, based on the data contained in the credit report. Check out below to see what sold in The Townes at Liberty Park in March 2018:
27846 Hopkins Drive, Novi: 3 bedrooms, 2.1 bathrooms, 2 car garage, Sold Price: $274,800
The Townes at Liberty Park Home Sold
March 2018
28077 Hewes Lane, Novi: 3 bedrooms, 2.1 bathrooms, 1,525 sq. feet, 2 car garage, Sold Price: $276,500
The Townes at Liberty Park Home Sold
March 2018
Most mortgage lenders use scores from FICO to evaluate borrowers’ creditworthiness. These scores range from 300 to 850. The higher the score, the better the credit risk — and the more favorable the terms a borrower is likely to be offered on a mortgage. For more information on The Townes at Liberty Park, or similar Northville or Novi neighborhoods such as Briarwood, Country Club Village and Hickory Creek, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.