Posts Categorized: How to Guides

Down Payment Assistance for 1st Time Home Buyers in Massachusetts

For many first time home buyers coming up with a down payment is the most challenging aspect of the home buying process. Saving the down payment needed is the reason that many otherwise qualified applicants continue to spend money on rent that could be used to build equity of their own. Don’t let the down payment deter you from taking advantage of a historically low interest rate environment. Read more…

How to Buy Rental Property with Confidence

Many Mass. first time home buyers consider purchasing a multi-family property to help defray the cost of home ownership. By living in one unit and renting the remaining unit(s), the rental income received can be used to help pay the mortgage and lower your monthly housing expense. However, buying a multi-family property is not as simple as cashing the rent check every month. There are several additional issues to keep in mind if you decide to buy a multi-family property rather than a single family property or condo. Read more…

How to Do I Read My Home Appraisal Report

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How to Understand your Appraisal

A home purchase is the largest, single investment most people will ever make. Whether it’s a primary residence, a vacation home or an investment property, the purchase of real property is a complex financial transaction that requires multiple parties. Most of the people involved are very familiar. The Realtor is the most common face of the transaction. The mortgage company provides the financial capital necessary to fund the transaction. The attorney ensures that all aspects of the transaction are completed and that a clear title passes from the seller to the buyer. So who makes sure the value of the property is in line with the amount being paid? Read more…

5 Ways to Boost Your Credit Score

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There has been an increase in positive data coming out of the housing market in recent months, and it looks as if we have finally turned the corner towards a recovery. Sure, there may be some road blocks along the way such as a lack of confidence in the job market or still tightened lending guidelines, but all the news suggests that 2013 will be a huge year for the Mass real estate market. If you want to be ready to take advantage of low interest rates combined with low sale prices, now is the time to improve your credit. A strong credit score is the backbone of all mortgage underwriting. The following tips will help you boost your score in just a couple of months and better position yourself for a smooth transaction. Read more…

How To Refinance Your Underwater Home

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A mortgage refinance is the process by which your current mortgage is paid off by a new loan. The federal government has expanded the underwriting guidelines of several mortgage programs to help upside down home owner’s take advantage of the recent historically low interest rate environment.

Step 1: Am I eligible?: Read more…

10 Spring Home Buying Tips

(1) Get Your Free Credit Report. You are allowed to get 1 credit report from each of the 3 major credit bureaus once every 12 months. Utilize this free opportunity to make certain that your credit is being accurately reported.

(2) Decide What You Can Afford? Make an honest evaluation as to what a comfortable monthly payment is for you and your family by doing a detailed budget. It’s better to determine a comfortable monthly payment first before you look at homes for sale so you are not tempted to “over buy”. Be sure to include costs such as Read more…