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Massachusetts Home Buyer Guide

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What are the Income Limits for a MassHousing Loan?

Apr 17, 2020 7:35:05 PM

Many first-time homebuyers are surprised at how much money you can earn and still qualify for the conventional MassHousing Mortgage program.

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Topics: Mortgages 101, Loan Programs, Mortgage Rates & News

MassHousing Down Payment Assistance Helps More First-time Home Buyers

Apr 11, 2020 11:02:05 AM

Not enough cash for a down payment? That may not be an obstacle to homeownership for qualified Massachusetts first-time homebuyers.

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Topics: Home-buying Tips, Community Information, Mortgages 101, Loan Programs, Haverhill MA, Lowell MA, Melrose MA, Peabody MA, Salem MA, Mansfield MA, Lynn MA, Taunton MA, Everett MA, Worcester MA, Malden MA, Lawrence MA, Revere MA

First-time Homebuyers Should Consider MassHousing

Jan 13, 2017 6:34:00 PM

Many homebuyers mistakenly think that MassHousing loans are only available to low-income first-time homebuyers in Massachusetts. Although there are income limits and loan limits, homebuyers are often surprised by how much a borrower can earn and borrow and still qualify.

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Topics: Home-buying Tips, Mortgages 101, Loan Programs, Video

FHA Reduces Mortgage Insurance Premiums

Jan 12, 2017 6:18:33 PM

(UPDATE: The Trump Administration on January 20, 2017 indefinitely suspended the recently announced FHA mortgage insurance premium reduction.)

Homebuyers will pay less for mortgage insurance when purchasing a home with an FHA loan starting later this month, the Federal Housing Administration (FHA) announced January 9, 2017; however, most Massachusetts homebuyers with credit scores 680 or higher still will have more appealing low down payment financing options.

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Topics: Mortgages 101, Loan Programs, Mortgage Rates & News, FHA

How Much Cash Do Massachusetts First-time Homebuyers Need?

Jan 12, 2017 8:55:00 AM

One of the most difficult parts of buying a home for Massachusetts first-time homebuyers is saving for the down payment. So how much cash on hand does a homebuyer need to buy a home?  

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Topics: Home-buying Tips, Mortgages 101, Loan Programs

Learn About the Home Loan Process

Dec 22, 2016 9:41:22 AM

The following audio is from an interview on April 21, 2016, on Boston Herald Radio's Bizsmart show with host Rick Shaffer.

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Topics: Real Estate Market, Loan Programs, Real Estate Misc.

HomeReady Mortgage is a Low Down Payment Option for Homebuyers

Dec 1, 2016 12:36:37 PM

Massachusetts first-time homebuyers year after year cite saving for a down payment as the biggest obstacle to buying a home; however, many potential homebuyers mistakenly believe they need to save enough money for a 20 percent down payment.

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Topics: Home-buying Tips, Condominium, Mortgages 101, Loan Programs, Mortgage Rates & News

15 Mortgage Loan Terms MA First-time Home Buyers Should Know

Nov 16, 2016 8:58:00 AM

Massachusetts first-time home buyers sometimes feel like they are listening to a foreign language when learning about the many lending terms related to a mortgage loan. There are many and several sound similar. The following are 15 loan terms first-time home buyers should definitely know.

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Topics: Home-buying Tips, Mortgages 101, Loan Programs, Real Estate Misc.

Is Freddie Mac's Home Possible Advantage Mortgage For You?

Aug 26, 2016 9:30:00 AM

Despite what many potential homebuyers are told by friends, family or acquaintances or learn from websites and other media, you do not need a 20 percent down payment to purchase a home. 

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Topics: Home-buying Tips, Condominium, Mortgages 101, Loan Programs, Mortgage Rates & News

What is Debt-to-Income Ratio for Massachusetts Homebuyers?

Apr 8, 2016 7:28:42 PM

Massachusetts homebuyers should understand debt-to-income ratio when applying for a mortgage loan because it is one way lenders measure your ability to manage monthly mortgage payments.

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Topics: Home-buying Tips, Mortgages 101, Loan Programs

5 Credit Score Misconceptions Homebuyers Should Know the Truth About

Apr 4, 2016 9:00:46 AM

When you are ready to buy a home your credit score plays a big role in determining what mortgage loan programs you might qualify for, as well as how much you'll pay for mortgage insurance, if you lender requires it. The better a homebuyer's credit risk the more lending opportunities are available to him or her. 

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Topics: Mortgages 101, Loan Programs, Mortgage Rates & News

Massachusetts First-time Home Buyers Have 'One Mortgage' Program

Mar 19, 2016 1:30:00 PM

Massachusetts first-time home buyers who fall into the low- to moderate-income category will want to consider the "ONE Mortgage" loan program from the Massachusetts Housing Partnership.

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Topics: Home-buying Tips, Mortgages 101, Loan Programs

   

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