Before you even start looking at real estate listings, you have to know how much home you’re in the market to buy. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know that this means you have to get a clear picture of your financial situation. Knowing what your income range is, monthly expenses and FICO credit score means you’ll be prepared when the mortgage processor is ready for your application. While lenders make their money by lending it, their first priority is minimizing their risk. When you ask a lender for pre-approval they look at your credit history to evaluate how big a default a risk you represent. Check out below to see what sold in North Beacon Woods in October 2018:
46501 Greenridge Drive, Northville: 4 bedrooms, 2.2 bathrooms, 2,578 sq. feet, 2 car garage, Sold Price: $460,000
North Beacon Woods Home Sold
October 2018
If you’re considered high-risk, you may have to look beyond traditional lenders like banks and co-ops and instead look at lenders willing to lend to a higher-risk borrower. However, a lender accepting a higher credit-risk comes at a price: you’ll have to pay higher interest rates. For more information on North Beacon Woods, or similar Northville or Novi neighborhoods such as Parkstone, Addington Park and Barclay Estates, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.