It used to be that buyers could go house shopping and when they found their dream home, then they would go and get pre-approved. The DiMora Team are real estate experts in the Northville and Novi neighborhoods but we know that in today’s market, that has proven to be one of the least effective methods in landing the dream home. Most lenders can pre-qualify you for a mortgage over the phone based on general questions about your income, debt, assets, and credit history. However, being pre-qualified and pre-approved are different things. Pre-approval means that you have applied for a mortgage and you have filled out the mortgage application, received your credit report, and verified your employment, assets. When you are pre-approved, you know exactly what the maximum loan amount will be. Check out below to see what sold in Steeplechase in September 2017:
17553 Mystic Valley Courte, Northville: 5 bedrooms, 4.1 bathrooms, 4,425 sq. feet, 3 car garage, Sold Price: $750,000
Steeplechase Home Sold
September 2017
A pre-qualified letter is not verified and does not count for much if you are competing with other buyers who are pre-approved. When you are pre-approved, you and the seller know exactly how much house you can afford and it will give you credibility as an interested buyer and lets the seller know immediately that you will qualify for a loan to buy their property. For more information on Steeplechase, or similar Northville or Novi neighborhoods such as Woodlands of Northville, Beckenham and Ravines of Northville, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.