When you apply for a loan with a lender, your credit score will determine if you get approved or not. Credit scores range between 200 and 800, with scores above 620 considered desirable for obtaining a mortgage. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know that first, they will look at your payment history. If you pay your credit cards on time, or if they are late, then how late are they. Bankruptcy filing, liens, and collection activity also impact your history. In general, the longer you have had accounts opened, the better. The average consumer’s oldest obligation is 14 years old, indicating that he or she has been managing credit for some time. New credit, either installment payments or new credit cards, are considered more risky, even if you pay them promptly. Check out below to see what sold in Briarwood Condos in March 2017:
24525 Edgewood, Novi: 3 bedrooms, 4 bathrooms, 1,825 sq. feet, 2 car garage, Sold Price: $307,500
Briarwood Condos Home Sold
March 2017
If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, it’s a good thing if you have a good proportion of balances to total credit limits. For more information on Briarwood Condos, or similar Northville or Novi neighborhoods such as Country Club Village, Hickory Creek and Lairdhaven, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.