Sandi Boucini & Michelle Granger - RE/MAX Executive Realty



Posted by Sandi Boucini & Michelle Granger on 8/8/2018

Being a first-time home buyer is tough. It can seem like you have undertaken one of the most overwhelming processes ever. Thereís so much to learn in the process of securing a mortgage and closing on a home. If you go into buying a home prepared with knowledge, it will be that much easier for you. 


Thereís a lot of terminology to learn about the home buying process. Youíll need to know who should be involved with the transaction including agents, lawyers and bankers. Youíll need to be prepared for the fees involved in buying a home as well. There are many different programs available to help first-time homebuyers that can help you save money and secure your first home. Hereís just some of those programs: 


FHA

This is the Federal Housing Administration and itís a very popular go-to for first-time home buyers. Itís also great for people who have tarnished credit history. As a borrower with FHA backing, you can qualify for a loan with as little as 3.5% down. These FHA loans have an additional cost built into them which is mortgage insurance. In case you default on the loan, this protects the lender.


The Department Of Veteranís Affairs


This resource helps veterans, service members and their surviving spouses to buy homes. Often, this program requires no down payment or mortgage insurance. The problem is that getting these kinds of loans can take awhile to process, so you canít be in a big hurry to buy a home.


Good Neighbor Next Door


This program is meant for teachers, law enforcement, firefighters and emergency medical responders, which is why itís called the ďGood NeighborĒ initiative. This is a program sponsored as part of the Department of Housing and Urban Development. It allows 50% discounts of the price of homes in places considered revitalization areas. All you need to do is be in one of the said professions and commit to living on the property for at least 3 years. The catch is that these homes are listed for just 7 days on the Good Neighbor Next Door website.


Fannie Mae and Freddie Mac


These are government-sanctioned companies that work with local lenders to offer good mortgage options for first-time home buyers such as 3% down payment options.


USDA


The U.S Department of Agriculture has its own homebuyersí assistance program. The benefits are for people who live in rural areas and allows 100% financing by offering lenders mortgage guarantees in return. There are income limitations that can vary by region.

Assistance Isnít Hard To Find


As you can see, there are many programs available to help first-time homebuyers. From downpayment assistance to ways that you can keep your mortgage payments low, you can find some help if you need it. You may feel that purchasing a home is something thatís far in the future the future, but with federal programs, more people can realize their dreams of home ownership.        




Tags: mortgage   FHA loans   home loans  
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Posted by Sandi Boucini & Michelle Granger on 8/6/2018


Lot 5 Mountainview Rd, Uxbridge, MA 01569

Single-Family

$449,900
Price

7
Rooms
4
Beds
2/1
Full/Half Baths
Mountainview Estates! Uxbridge's newest cul-de-sac community! This exclusive 7 lot subdivision offers scenic views and the serenity of the Blackstone Valley with the convenience of 146 and RI only minutes away! Standard features in the homes include: economic propane heat, central air, propane fireplaces, hardwood flooring, granite kitchens, crown moldings, open floor plans and generous allowances! Lot 5 draws you in with its curb appeal from the moment you drive up. The farmers porch is perfect for relaxing and enjoying the amazing views! Inside boasts an open, bright kitchen with center island and pantry that flows into the family room complete with propane fireplace. The master offers large walk-in closet, bathroom with shower & soaking tub plus double sinks! Each of the other bedrooms have great closet space for all your storage needs.Convenient second floor laundry! Late spring delivery!
Open House
No scheduled Open Houses

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Categories: Price Change  


Posted by Sandi Boucini & Michelle Granger on 8/4/2018

Lovingly maintained home offers it all! Set on a quiet country road, this home entices you with an awesome back yard! Fully fenced in and private with a separate fenced in area for pets, expansive paver patios both covered & uncovered, huge storage shed, multiple decks PLUS a great 3 season porch to enjoy! Inside boasts a totally open first floor w/ an eat-in kitchen that has updated stainless appliances, living room, cozy family room w/ wood inlay & wood stove! First floor laundry & full bathroom are super convenient. The 2nd floor is all hardwood & includes a large master w/ a spacious walk-in closet & full bath with tub/shower. Two guest bedrooms are very roomy! The finished walk-out basement offers versatile space that could be a playroom, exercise room, office...you name it! Plus there is also unfinished space for storage! Many updates have been done in the last 10 years including; septic, well pump, most windows, exterior paint, hot water tank....all you need to do is move in!

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Posted by Sandi Boucini & Michelle Granger on 8/2/2018


137 West St, Douglas, MA 01516

Single-Family

$369,900
Price

8
Rooms
3
Beds
2
Baths
Lovingly maintained home offers it all! Set on a quiet country road, this home entices you with an awesome back yard! Fully fenced in and private with a separate fenced in area for pets, expansive paver patios both covered & uncovered, huge storage shed, multiple decks PLUS a great 3 season porch to enjoy! Inside boasts a totally open first floor w/ an eat-in kitchen that has updated stainless appliances, living room, cozy family room w/ wood inlay & wood stove! First floor laundry & full bathroom are super convenient. The 2nd floor is all hardwood & includes a large master w/ a spacious walk-in closet & full bath with tub/shower. Two guest bedrooms are very roomy! The finished walk-out basement offers versatile space that could be a playroom, exercise room, office...you name it! Plus there is also unfinished space for storage! Many updates have been done in the last 10 years including; septic, well pump, most windows, exterior paint, hot water tank....all you need to do is move in!
Open House
No scheduled Open Houses

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Categories: New Homes  


Posted by Sandi Boucini & Michelle Granger on 8/1/2018

Thereís many different myths about buying a home that may have been presented to you as fact. All of these rumors could have you believing that being a home owner is a dream. Here, weíll debunk some of the most common misconceptions about home buying and give you the tools to solve any issues that you may come across in the process of securing a home loan.


If You Donít Have 20% To Put Down On A Home, You Canít Buy


Many conventional loans do require a 20% down payment on a home. Thereís also many different loans available that may suit your needs. From Federal Housing Administration loans to Veteranís programs to down payment assistance programs, thereís many different things that can be done to help you buy a home. Keep in mind that any time you put less than 20% down, youíll need to provide additional mortgage insurance, also known as PMI or private mortgage insurance.  


If Your Credit Score Is Terrible Youíre Out Of Luck

If you want really good mortgage rates, having great credit is very important. If your credit score is low, your rates tend to be much higher. A really low credit score could keep you from getting a loan completely. FHA loans allow you to still qualify for a loan with a credit score as low as 580.


You Need To Make Bank To Get Money From The Bank


Monthly annual income is just one of the factors thatís considered when it comes to getting a loan to purchase a home. Your debts matter just as much if not more. People with significant credit card debt and other loans may be denied a home loan even if they have a substantial income. 


Youíre In The Clear If Youíre Pre-Qualified


Pre-qualification is much different than pre-approval. Pre-qualification involves giving your lender basic information about your finances in order to estimate how much of a loan you can get. This will give you a ballpark figure of about how much youíll be able to borrow. Of course, this is very helpful in the home search process, but youíre not done. To get pre-approved, youíll need a complete mortgage application in order to have your complete financial background check and credit rating.  


If Youíve Met One Real Estate Agent, Youíve Met Them All


This couldnít be further from the truth. Your relationship with your real estate agent is going to be quite close. Youíll need to share somewhat personal information in order to secure a house youíll love. Agents are involved in one of the biggest decisions that youíll ever make. Each agent has his or her specialties and knows different neighborhoods better than others. Definitely go with a real estate agent that you feel comfortable with and knows their stuff.  


Closing Costs Arenít Your Responsibility


Sometimes, sellers do pay the closing costs in the sale of a home. It all depends upon how the negotiations go with the home. Youíll need to be prepared for upfront costs in buying a home. These include a credit check, attorney fees and property insurance. As a buyer, youíll be paying anywhere between 2 and 5 percent of the purchase price of the home.  


Itís important to be prepared and to stay informed in order to make sound financial decisions throughout the process of purchasing a home. Everything will be that much more exciting when you have all of the pertinent information that youíll need.




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