If you refinance your home, you may have to pay closing costs; discount points (used to increase the lender’s yield or profit on the loan and equal to one percent of the loan amount); appraisal fees; application or loan processing fees; document prep and recording fees; origination or underwriting fees; lender or funding fees; loan broker fees; and miscellaneous other fees (i.e. overnight mail charges, etc.).
A home equity loan, a.k.a. a second mortgage, is good for homeowners who don’t need quite as much cash and whose mortgage interest rate is already competitive. The term is much less than a conventional 30-year mortgage – five to 15 years. These installment loans are paid out in one lump sum, so they’re good for repaying credit card debt or remodeling projects, even buying a new vehicle. Check out below to see what sold in Country Club Village in July 2025:
39663 Southwind Lane, Northville: 2 bedrooms, 3.1 bathrooms, 2,181 sq. feet, 2 car garage, Sold Price: $500,000
Country Club Village Home Sold
July 2025
You must be sure you are able to pay this loan back, because it’s easier to foreclose on a second mortgage than on a federally insured first mortgage. Find out about closing costs and points in advance, as well as balloon payments, hidden fees, or credit or property insurance tacked on. For more information on Country Club Village, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.