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Massachusetts Home Buyer Guide

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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

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.

Do Mortgage Credit Inquiries Hurt a Homebuyer's Credit Score?

Nov 9, 2016 9:45:00 AM

A common concern among potential homebuyers shopping for a mortgage is that multiple credit inquiries will negatively affect their credit score. It's not exactly true and has been perpetuated by some mortgage professionals who want to discourage potential borrowers from shopping around. 

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Topics: Home-buying Tips, Mortgages 101

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 a Mortgage Interest Rate Lock?

Aug 22, 2016 2:18:13 PM

For most Massachusetts homebuyers researching lenders and home loan programs, the mortgage interest rate is one of the most important factors in deciding which lender and/or loan program to use to finance the purchase of a home.

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Topics: Home-buying Tips, Condominium, Mortgages 101

4 Mortgage Myths Massachusetts Homebuyers Should Know About

Jul 3, 2016 1:14:21 PM

There is a lot to know and understand about mortgage loans when you're a first-time homebuyer. There also are a lot of mortgage misconceptions, but the following are four of the more common myths about getting a home loan Massachusetts homebuyers should know.

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Topics: Home-buying Tips, Mortgages 101

U.S. Mortgage Interest Rates Hit New 2016 Low

Jun 20, 2016 7:20:43 AM

Average U.S. mortgage interest rates declined for the second consecutive week and interest rates hit a new low for 2016, Freddie Mac reported June 16, 2016 in its weekly Primary Mortgage Market Survey. 

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Topics: Mortgages 101, Mortgage Rates & News

4 Things Homebuyers Should Not Do During the Loan-approval Process

May 11, 2016 10:16:34 AM

If you are considering the purchase of a home, you're likely aware of the importance of obtaining a mortgage loan. What you might not be aware of is that what may seem like routine financial moves can derail the home loan process and prevent you from buying a home.

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Topics: Home-buying Tips, Mortgages 101

What Do Homebuyers Have to Provide Lenders to Receive a Loan Estimate?

Apr 16, 2016 1:19:16 PM

The new Truth-in-lending RESPA Integrated Disclosure (TRID) rules created a new form called the Loan Estimate.

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Topics: Home-buying Tips, Mortgages 101, 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

   

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