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Massachusetts Home Buyer Guide

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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

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

Who Pays for the Home Appraisal?

Mar 4, 2016 10:00:00 AM

When you buy a single-family home or condominium in Massachusetts your mortgage lender will want to know whether the home you are buying is worth the amount of money you have agreed to pay the seller.

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

One Way Massachusetts Homebuyers Can Avoid PMI

Feb 28, 2016 7:11:25 PM

Homebuyers that have less than a 20 percent down payment when purchasing a home might have to pay monthly private mortgage insurance, or PMI. It also is referred to as just mortgage insurance, or MI. 

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Topics: Home-buying Tips, Mortgages 101, Video

Will Mortgage Interest Rates Keep Declining?

Feb 27, 2016 8:04:22 PM

A few months ago all the so-called mortgage experts and real estate pundits were convinced that interest rates for mortgage loans were going to start increasing in 2016, signaling the end of years of abnormally depressed borrowing costs. They predicted homebuyers were about to experience significantly increasing interest rates for the first time in years.

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Topics: Mortgages 101, Mortgage Rates & News

   

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