Novi's housing market is highly competitive, with a strong demand for homes in desirable neighborhoods. The median home price in Novi is around $420,000, with prices ranging from $300,000 to over $1 million depending on the location and amenities. NMHL's team of experienced loan officers is well-versed in the local market conditions and can provide personalized guidance on finding the best mortgage program for your needs.

Some popular neighborhoods in Novi include:

• Downtown Novi: A vibrant area with shops, restaurants, and entertainment options
• Novi Meadows: A suburban neighborhood with parks and community events
• Wachtel: A family-friendly neighborhood with good schools and outdoor recreational areas

NMHl can help you navigate the Novi housing market and find the best mortgage program for your needs.

Property taxes in Novi are approximately 1.55% of assessed value, which translates to manageable monthly costs when factored into your mortgage payment. For example, on a $420,000 home, you can expect to pay around $6,510 per year in property taxes. NMHL can help you understand how property taxes will impact your mortgage payment and provide guidance on how to factor them into your homebuying decision.

Michigan also offers a homestead exemption program, which can provide additional tax savings for homeowners. NMHL can provide more information on this program and help you understand how it can benefit you.

Novi is served by the highly-rated Novi Community School District, which includes Novi High School, Novi Middle School, and several elementary schools. The district has a strong reputation for academic excellence and offers a range of extracurricular activities and sports programs. NMHL understands the importance of good schools and can provide guidance on how to factor them into your homebuying decision.

Some of the top-rated schools in Novi include:

• Novi High School: A highly-rated public high school with a strong academic program
• Novi Middle School: A well-regarded public middle school with a focus on STEM education
• Heatherwood Elementary School: A highly-rated public elementary school with a strong reading program

NMHL can provide more information on the local schools and help you find the best fit for your family's needs.

NMHL offers several first-time homebuyer programs in Novi, including FHA loans with 3.5% down payment requirements and VA loans with zero down payment options. We also offer down payment assistance programs and educational resources to help first-time homebuyers navigate the mortgage process.

Some popular first-time homebuyer programs include:

• FHA Loans: A popular option for first-time homebuyers with lower credit scores or limited down payment funds
• VA Loans: A zero-down payment option for eligible veterans and service members
• USDA Loans: A zero-down payment option for borrowers purchasing homes in rural areas

NMHL can provide more information on these programs and help you determine which one is right for you.

NMHL is committed to serving underserved borrowers in Novi, including those with bad credit, self-employed individuals, and veterans. We offer a range of mortgage programs designed to meet the unique needs of these borrowers, including:

• Bad Credit Loans: A mortgage option for borrowers with lower credit scores
• Self-Employed Loans: A mortgage option for self-employed borrowers with non-traditional income
• VA Loans: A zero-down payment option for eligible veterans and service members

NMHL's experienced loan officers can provide personalized guidance on finding the best mortgage program for your needs.