Here are five tips you should know before you call your loan officer.
Tip #1: Before you call your loan officer, be realistic and have an idea of what you can afford for your monthly payments on your mortgage.… more
If you’re thinking about securing a mortgage in the Greater Boston area, you’d be wise to consider an FHA loan. A loan insured by the Federal Housing Administration (FHA) offers tremendous benefits, including lower down payments, better interest rates, and easier credit qualifications.… more
Private Mortgage Insurance, otherwise known as PMI, is insurance that protects the lender in case the borrower is unable to pay the mortgage.
The benefit of PMI to the borrower on a conventional mortgage is that you may typically buy a home with only a 5% down payment instead of the traditional 20%.… more
A mortgage loan broker is basically a middle man of sorts whose main goal is to bring a borrower and a lender together. If you contact a broker in Boston and hire him or her, the broker will search through the many lenders in the Greater Boston area and provide you with the many options which are available. … more
I have five things that you need to know about Mass Housing.
First; in select areas like Boston that are highly urban, you do not need to be a first time home buyer, so if you’ve already bought a home you can go buy another one.… more
If you are beginning the long process of purchasing your first home in the Greater Boston Area, before you start your search for the perfect house, get pre-approved for a mortgage loan from a good lender.… more
Unlike the average mortgage loan applicant (one who is an employee), small business owners — i.e., self-employed individuals — need to produce additional documents to secure a mortgage loan in the Greater Boston area.… more