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Lairdhaven Way Real Estate Sales Information for December 2024

If you’re a homeowner interested in purchasing a new home, you can secure a bridge loan to help bridge the gap you may have in financing if you haven’t sold your current home. The DiMora Team are real estate experts in the Northville and Novi neighborhoods, and we know that a bridge loan is a short-term loan specifically for transitional circumstances, typically lasting anywhere from six months to a year. These types of loans can be secured through a lender, much like a traditional mortgage loan. But it’s important to realize they work differently than a typical mortgage loan and should be used in specific cases. Because bridge loans are specifically designed to be short-term, you can expect to need to repay them within one to three years. If you’re securing a significant amount of financing through a bridge loan, you’ll need to be sure you can repay within the timeframe of the loan. But in addition to repaying it within 1 to 3 years, you’ll also need to anticipate a higher APR, higher interest rates, and two mortgage rates once you purchase your new home. This can create a significant financial obligation in comparison to simply waiting to sell your home or saving up sufficient funds. Check out below to see what sold in Lairdhaven Way in December 2024:

16100 Lairdhaven Way, Northville: 3 bedrooms, 2.1 bathrooms, 2,380 sq. feet, 2 car garage, Sold Price: $527,000

Lairdhaven Way Home Sold
December 2024

For more information on Lairdhaven Way, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.

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