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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.
Topics: Home-buying Tips, Mortgages 101, Loan Programs, Video
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.
Topics: Mortgages 101, Loan Programs, Mortgage Rates & News, FHA
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?
Topics: Home-buying Tips, Mortgages 101, Loan Programs
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.
Topics: Home-buying Tips, Condominium, Mortgages 101, Loan Programs, Mortgage Rates & News
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.
Topics: Home-buying Tips, Mortgages 101, Loan Programs, Real Estate Misc.
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.
Topics: Home-buying Tips, Mortgages 101
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.
Topics: Home-buying Tips, Condominium, Mortgages 101, Loan Programs, Mortgage Rates & News
Aug 22, 2016 2:18:13 PM
For most Massachusetts, New Hampshire, and Rhode Island 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.
Topics: Home-buying Tips, Condominium, Mortgages 101
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.
Topics: Home-buying Tips, Mortgages 101
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.
Topics: Mortgages 101, Mortgage Rates & News
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.
Topics: Home-buying Tips, Mortgages 101
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.
Topics: Home-buying Tips, Mortgages 101, Mortgage Rates & News
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