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 […]

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 […]

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 […]

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 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 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 […]

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 […]

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 […]

Obtaining a home loan may be a complicated process because of the different mortgage programs, the documentation required, and the review process. Selecting Boston MA loan professionals can minimize some of the difficulty. Below are details on the benefits of utilizing Boston MA loan professionals. Advantages of Boston MA Loan Professionals Boston MA Mortgage Alternatives […]

There can be many common tax advantages for owning real estate in Boston MA through use of tax deductions. Deductions lower your taxable earnings and therefore result in fewer taxes. It is important to understand the tax benefits before purchasing or when evaluating renting vs. buying. This article provides an explanation of MA common tax […]