Novi
Home Mortgage Loans
Get The Lowest Interest Rate On
Novi Home Loans.
Whether you are a first time home buyer or
trading up to a larger home, we work to find the best home loan solution for
you. Constantly surveying the hundreds of mortgage lenders as well as
anonymously testing their staff, we are always aware of the conditions of the
home loan market as well as the lenders involved in it.
Best Lender For
Novi Home Loans
Unfortunately, the subprime mortgage
crisis has caused dramatic changes in the lending climate. Many lending
institutions have suffered tremendous losses and as a result have
tightened their lending standards drastically. Whereas it used to be
very, very easy to meet the requirements in order to get approved, it is
now much more difficult with most lenders.
When searching for a mortgage lender
in Novi, it is important to
find one that not only offers the lowest rates, but also has not
tightened lending standards to the point that only a tiny percentage of
applicants will qualify.
Novi Michigan
Overview & Statistics
Novi Overview
As of 2007, Novi's population is 54,105 people. Since 2000, it has had a population growth of 14.18 percent.
The median home cost in Novi is $388,800. Home appreciation the last year has been -7.63 percent.
Compared to the rest of the country, Novi's cost of living is 8.11% Higher than the U.S. average.
Novi public schools spend $7,393 per student. The average school expenditure in the U.S. is $6,058. There are about 18 students per teacher in Novi.
The unemployment rate in Novi is 3.60 percent (U.S. avg. is 4.60%). Recent job growth is Negative. Novi jobs have Decreased by 0.25 percent.
Novi Climate
Novi, MI, gets 30 inches of rain per year. The US average is 37. Snowfall is 32 inches. The average US city gets 25 inches of snow per year. The number of days with any measurable precipitation is 120.
On average, there are 177 sunny days per year in Novi, MI. The July high is around 83 degrees. The January low is 16. Our comfort index, which is based on humidity during the hot months, is a 51 out of 100, where higher is more comfortable. The US average on the comfort index is 44.
Novi Housing
The median home value in Novi, MI, is $388,800. Home appreciation is -7.63% over the last year. The median age of Novi, MI, real estate is 18 years.
Novi, MI Apartments and Rentals
Renters make up 27.23% of the Novi, MI, population. 4.70% of houses and apartments in Novi, MI, are unoccupied (vacancy rate).
Novi Crime
Novi, MI, violent crime, on a scale from 1 (low crime) to 10, is 3. Violent crime is composed of four offenses: murder and non-negligent manslaughter, forcible rape, robbery, and aggravated assault. The US average is 3.
Novi, MI, property crime, on a scale from 1 (low) to 10, is 5. Property crime includes the offenses of burglary, larceny-theft, motor vehicle theft, and arson. The object of the theft-type offenses is the taking of money or property, but there is no force or threat of force against the victims. The US average is 3.
For related resources see also:
www.ci.novi.mi.us
Novi Real Estate Agents
Michigan First Time Home
Buyers Grants
Michigan First Time Home Buyer
Programs
Michigan Home Mortgage Loans
