When preparing to buy a home, the first thing many homebuyers do is look at the real estate ads in newspapers, magazines and listings on the Internet. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know that the next thing you should do – before you call on an ad, before you talk to a REALTOR®, before you shop for interest rates – is look at your savings. Determining how much money you have available for down payment and closing costs affects almost every aspect of buying a home – including how you write your purchase offer, the loan programs you qualify for, and shopping for interest rates. If you only have enough available for a minimum down payment, your choices for a loan will be limited to only a few types of mortgages. If you have enough for the down payment, but need the lender or seller to cover all or part of your closing costs, this further limits your options. Check out below to see what sold in Northville Colony Estates in December 2018:
15991 Winchester Drive, Northville: 4 bedrooms, 2.1 bathrooms, 2,218 sq. feet, 2 car garage, Sold Price: $374,000
Northville Colony Estates
December 2018
If you borrow all or a portion of the down payment from your 401K or retirement plan, different loan programs have different rules on how you qualify but if you have enough for a large down payment, then you have lots of choices. For more information on Northville Colony Estates, or similar Northville or Novi neighborhoods such as Lakes of Northville, Orchard Ridge Estates and Roma Ridge, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.