mortgage tips
What is a buyer’s agent agreement?
Whenever you hire a professional for something, it is a good idea to have a contract. That’s what a buyer’s agent agreement is – it’s a buyer’s agent contract. It’s a legal document that tells you what the agent is going to do for you and what it is going to cost for...
Friends don’t let friends hire dual/designated agents
When a real estate brokerage serves both the buyer and the seller, what can go wrong? The seller's agent, who must get the best price for the seller, is the same company that must get the best price for the buyer. Legally and structurally, companies are run by a...
Fire!
Summertime is when Massachusetts heads outdoors, so does most of the US. Sometimes, this leads to tragedy. A fire in Arlington, Massachusetts reminded me that smoking on the porch is not a foolproof way to keep your house safe from fire. Smoking Can Set a House On...
Don’t Waive Mortgage Contingency
1. Most of the time, if you have a documented pre-approval, you will get your mortgage, so a mortgage contingency is not really necessary, right? Wrong. It is only unnecessary if: You can afford to lose 5-10 percent of your purchase price. The mortgage contingency...
Credit Scores
If you are thinking of buying a house or condo, your credit score matters. A low score can: Cause you to be unable to get a conventional mortgage. Drive up the price of your mortgage, because you are a higher-risk borrower. Sudden changes in your credit score, after...
The Full Guide to Different Mortgage Types
Buying a home is a big moment and one of the most important aspects of that moment is deciding what type of mortgage program to go with. If this is your first home purchase, then deciding on a mortgage can be pretty intimidating. That doesn't have to be the case...
How to Determine How Much House You Can Afford
A lot goes into deciding on a home to purchase. The neighborhood, school zones, square footage, commuting time, the number of bedrooms/bathrooms are all important things to consider. However, the first crucial decision to make is your budget. It's far too easy to get...
Mortgage Rates: Why They Fluctuate and What to Do About It
Anyone looking for a mortgage for a home purchase will need to come to grips with interest rates. This is a confusing area for many buyers but one you have to get an understanding of if you want to save money. When you take out a mortgage, the amount you have to pay...
Top 10 Questions to Ask a Mortgage Lender
If you're in the market for a new home, you'll want to be just as careful in picking a lender as you are in choosing a home. Loans and lenders come in all shapes and sizes. If you want the very best rate and terms, then make sure you talk with multiple lenders before...
Outdated Mortgage Advice You Should Ignore
Buying a home is a huge life event and taking out a mortgage on it will be one of the scariest parts of it. It's a lot of responsibility to take on and if it's your first time getting a mortgage then, naturally, you'll want some advice from those who've done it...
What is Escrow and Why is it Important as a Home Buyer?
No matter where in the country you're buying, you're sure to encounter escrow at some point in the home transaction. If you're entirely new to buying a home, then buzzwords like this can sound scary at first. But don't worry, it's not as bad as it sounds. Escrow...