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Massachusetts Home Buyer Guide

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When Do Home Buyers Make Their First Mortgage Payment?

Mar 2, 2024 5:26:43 PM

Embarking on your homeownership journey is an exciting milestone, but it also introduces new responsibilities, like making your first mortgage payment.

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

Will Declining Interest Rates Increase Home Buyer Competition?

Dec 15, 2023 5:42:25 PM

Recent mortgage interest rate news has been music to the ears of prospective home buyers shell-shocked by the spike in rates over the late summer and fall.

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Topics: Mortgages 101, Mortgage Rates & News

Mortgage Interest Rates Drop Nearly .75% in a Month

Nov 22, 2023 1:37:11 PM

Since reaching more than 8 percent last month, the average 30-year, fixed-rate mortgage loan has plummeted almost three-quarters of a percent over four weeks, according to the Mortgage News Daily (MND) Index.

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Topics: Mortgages 101, Mortgage Rates & News

Home Buyers: Don't Be Fooled By The 20% Down Payment Myth

Nov 4, 2023 1:36:43 PM

Prospective Massachusetts first-time home buyers have a variety of home loan programs to help them buy their first home with a low down payment, yet many new home buyers still believe they must have enough cash for a 20 percent down payment.

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Topics: Home-buying Tips, Mortgages 101

Mortgage Interest Rates Remain Above 5%, Cost of Mortgage Payments Up

May 1, 2022 11:03:59 AM

The average 30-year, fixed-rate mortgage loan remained above 5 percent for the week ending April 28, 2022, according to Freddie Mac's weekly Primary Mortgage Market Survey (PMMS). 

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Topics: Mortgages 101, Mortgage Rates & News

What Does It Mean When a Seller Pays Closing Costs in Massachusetts?

Jul 19, 2021 4:08:39 PM

For many Massachusetts first-time home buyers – and for move-up buyers who might have lost equity in their homes during a real estate downturn – the biggest obstacle to purchasing a home often is saving enough money for the down payment and closing costs.

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

New Year, New Record Low for Mortgage Interest Rates

Jan 9, 2021 5:25:00 PM

Mortgage interest rates kicked off the New Year with a new record low. 

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Topics: Real Estate Market, Massachusetts Association of Realtors, Mortgages 101, Mortgage Rates & News

5 Credit Score Myths Homebuyers Should Know

Jan 9, 2021 9:21:00 AM

What is the recipe for those 11 herbs and spices? How does that cola taste that way? How did they come up with my credit score?

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

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

Dec 1, 2020 8:58:34 AM

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

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

Mortgage Interest Rates Reach an All-time Low, Home Prices Up

Jun 3, 2020 4:43:49 PM

Average mortgage interest rates in the United States reached an all-time low for the week ending May 28, 2020, according to Freddie Mac's weekly Primary Mortgage Market Survey.

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Topics: Real Estate Market, Massachusetts Home Prices, Mortgages 101, Mortgage Rates & News

Mortgage Interest Rates Rise Slightly

Apr 27, 2020 10:39:14 PM

Average U.S. mortgage loan interest rates increased slightly for the week ending April 23, 2020, according to Freddie Mac's weekly Primary Mortgage Market Survey.

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Topics: Mortgages 101, Mortgage Rates & News

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

   

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