Listed below are the top reasons lenders reject mortgage applications, according to the National Association of REALTORS: High debt-to-income ratio: 40% Low credit score: 23% Income was unable to be verified: 12% Not enough money in reserves: 12% Insufficient down payment: 9% Check out below to see what home is currently listed for sale in […]
To get preapproved for a mortgage you’ll need to meet with a lender — for example, from a bank you’re already using or a mortgage loan officer at another bank, a credit union, a mortgage broker, or an online lender. (Ask your real estate agent for recommendations if you’re unsure.) During the preapproval process, a […]
The fun part of buying a home is looking through all the homes for sale to uncover your special gem. Without a little prep work, you could set yourself up for unpleasant surprises. After all, if you skip getting a mortgage preapproval before starting your search, you may fall for a home that a lender […]
If your circumstances for your living situation after you sell your home are less-than-ideal and will add time to your departure from the property, a rent-back agreement may be the right choice for you. The DiMora Team are real estate experts in the Northville and Novi neighborhoods, and we know that you should discuss this […]
There are critical differences between purchasing a single-family home versus a condominium. Choosing between a house or condo comes with key distinctions to consider to help you decide which is a better fit for you. The DiMora Team are real estate experts in the Northville and Novi neighborhoods, and we know that the biggest difference […]
When you find an area that you would like to live in, start looking at the neighborhoods in this area, and begin to dig into the characteristics of each neighborhood. Do your research on Google, as well as on Instagram, which will give you a great, boots-on-ground perspective of day-to-day life in those neighborhoods. The DiMora […]
Mortgage underwriting is one of the most important parts of the mortgage loan process as a whole. The DiMora Team are real estate experts in the Northville and Novi neighborhoods, and we know that this is the process used by mortgage lenders to understand and assess the risk they could take by lending to a borrower. During […]
When your home buying process is getting closer, make sure you’re up to speed on all things mortgages. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know you need to look into loan terms, interest rates, market conditions, and what’s happening in your local market. You should also take […]
When selling a home for sale, the property’s access to natural light is another important feature to highlight. The DiMora Team are real estate experts in the Northville and Novi neighborhood and we have seen that if there are large windows or sliding glass doors that let the sunlight stream in, its a good idea […]
Curb appeal is your first, and sometimes only, shot to make a potential buyer fall in love with your house. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know that unfinished curb appeal projects may make buyers think that you’ve neglected other important home maintenance, even if you […]
