HARP is a loan refinance program through Making Home Affordable (MHA) by the Departments of the Treasury and Housing and Urban Development (HUD). It was created to help homeowners current on their mortgage but who are unable to refinance since the price of their home has declined below the amount of their mortgage. Home Affordable Refinance Program […]
Information On MA Appraisal And Assessment Values
Appraisal and assessment values are frequently confused with one another. As a home buyer and home seller, it is crucial to distinguish the difference between the two. Information on MA appraisal and assessment values can be found below. What Are Assessment Values Municipalities charge a tax on residential properties. The amount is determined by a […]
Details On Frequently Used Lending Lingo In MA
Completing the mortgage process may be complex, particularly with all of the mortgage-specific terms. Familiarizing yourself with frequently used lending lingo will help the process. Below you will find details on frequently used lending lingo in MA. Frequently Used Lending Lingo Pre-approval A pre-approval is a letter prepared by a mortgage company detailing the dollar amount […]
Steps In The Financing Process For Buying MA Real Estate
There are several major distinct steps in the real estate purchase process, and several relate to the mortgage. It can be confusing for both first time and experienced home buyers. This blog offers important information about steps in the financing process for buying MA real estate and includes what you may want to know prior […]
MA FHA 203k Mortgage Information
FHA 203k is a home purchase alternative offered by the department of Housing and Urban Development (HUD) for real estate requiring rehab. The program permits home buyers to purchase a home and finance the cost of repairs. Typical loans mandate that properties be in livable condition. FHA 203k is a alternative option for short sale […]
MA USDA Mortgage Options
Some are surprised to hear that the USDA (US Department of Agriculture) provides financing for home purchases. The mortgages can be used for real estate in specific non-metropolitan towns and have optional terms and features. This blog provides MA USDA mortgage options. MA USDA Mortgage Options Benefits of USDA Programs The loan is completed by […]
FHA Streamline Refinance For MA Mortgages Effective June 2012
FHA loan programs ordinarily require an Up-Front Mortgage Insurance Premium (UFMIP) collected at closing plus an Annual Mortgage Insurance Premium (MIP) billed with each mortgage payment. The mortgage insurance premium is based upon the date on which the FHA Case Number is issued and remains until a loan balance falls below a specific amount. FHA […]
MA Title Insurance Important Facts
MA home buyers often ask about title insurance, what it is, and and if it is necessary. Lender’s title insurance is required by the lender, however, owner’s title insurance is an optional feature. MA buyers should assess the facts and decide for themselves whether they ought to buy it. The following are MA title insurance […]
Reasons Why Buyers Should Get Pre-approvals Prior To Seeing MA Homes
When looking to buy real estate in Massachusetts, it is natural to be very excited and want to start visiting homes as soon as possible. In that excitement, you may overlook the important step of starting a mortgage pre-approval. A pre-approval is a preliminary look at your finances and credit scores to identify whether you […]
MA FHA Home Loan Program Overview
FHA is a home loan program where private mortgage insurance is provided by the Federal government. Most major banks offer FHA program options. Although the program is often utilized by first time home buyers, it is not limited to first time buyers. This blog provides MA FHA home loan program overview and pre-approval advice to […]