As if this market isn’t hard enough on buyers, now you are getting hard-sell tactics about the rising interest rates. Buyers who are getting a mortgage to purchase need to pay attention to the interest rate that they are pre-approved at. Their buying power may go down, as interest rates rise. All mortgages are calculated
Do you or someone you know plan to buy a house in the next one to three years? Are you worried that your credit score will increase mortgage costs or even disqualify you for a mortgage? Do you want someone to get you through the credit service red tape? My friend and EBA colleague, Tom
Women who leave the workforce From March to June 2020, children were going to school via Zoom in most towns and cities in Massachusetts. Someone had to supervise children doing remote learning. Someone needed to be home, if the children were home. That someone was their mother, more often than not. Women who worked essential
Given the historic lows for interest rates, it’s a good time for homeowners to review their mortgage information. It’s easy to get excited by low rates, but everyone should evaluate a new loan based on their current financial situation as well as their long-term goals. Do the math to make a better decision on refinancing
If you are thinking of buying a house or condo, your credit score matters. A low score can Cause you to be unable to get a conventional mortgage. Drive up the price of your mortgage, because you are a higher-risk borrower. Sudden changes in your credit score, after you apply, can cause your mortgage to
Portfolio vs. conventional lenders A Portfolio Bank is a bank that lends their own funds into mortgages. They keep the mortgages in the bank and service the loans, which is a real advantage to homeowners. Portfolio lenders tend to be local banks and credit unions. A portfolio lender is able to make their own rules
Are you or have you been in the U.S. military? Would you like to buy a house someday but you're not sure whether you have the finances to do it? Veterans' Legal Rights Anyone on active duty in the military is protected by the Servicemembers Civil Relief Act (SCRA). According to military.com, f you are
Residential exemptions make a big difference to property taxes in Massachusetts. While doing a comparative market analysis for a client, I noticed that half the condos were paying almost twice as much in taxes than other condos that were pretty much the same size and location. The difference wasn’t that some were renovated, thus worth
Long before you apply for a mortgage, it is a good idea to check your credit score. Credit scores determine if you qualify for a loan and the rate you pay for your loan. If your credit score is low, you may not be able to get a mortgage, even if you have the down
1. Most of the time, if you have a documented pre-approval, you will get your mortgage, so a mortgage contingency is not really necessary, right? Wrong. It is only unnecessary if: You can afford to lose 5-10 percent of your purchase price. The mortgage contingency gives you a date by which you can get that