For many borrowers, paying off a mortgage is a 15- or 30-year process. But it’s nice to think as you make those payments about the wealth that you’re accumulating each month. Homeowners who opt for 15-year mortgages tend to build equity faster because they typically make higher monthly payments and have lower interest rates. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know that regardless of the type of loan you have, you can increase your equity faster by increasing your monthly payment and designating that those extra funds be applied to principal. On a fixed-rate loan, this also reduces the amount of total interest you’ll pay, since interest is calculated against the principal balance. Check out below to see what sold in Ravines of Northville in October 2022:
17168 Willow Ridge Drive, Northville: 4 bedrooms, 4.1 bathrooms, 3,662 sq. feet, 3 car garage, Sold Price: $811,000
Ravines of Northville Home Sold
October 2022
For more information on Ravines of Northville, or similar Northville or Novi neighborhoods such as Pheasant Hills, Autumn Park and Woodlands of Northville, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.