Have a Great Labor Day!

labor day

What does Labor Day mean to us? To many, it means the end of summer. To others, it means the beginning of school. Those are accurate assumptions but Labor Day is really much more. Labor Day  will be observed on Monday, Sept. 3 2018. Labor Day: How it Came About & What it Means Labor …

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What are Closing Costs?

Closing costs are an accumulation of charges paid to different entities associated with the buying and selling of real estate. For buyers in Massachusetts, closing costs will come to about $2600 plus lenders title insurance and any pre-paid items such as real estate taxes, insurance and interest. There may be closing costs customary or unique …

The true costs of Renting vs. Owning

There’s more to comparing the costs of renting and owning than the dollar cost of payments. Even with numbers like these, some still say renting is better: "Investing in a home is riskier than renting." No risk, no reward. Besides, even studies conducted by the Federal Reserve show that owning can provide a net worth that is …

Let’s Talk Credit: Understanding your Credit Score

Did you know? FICO is an acronym for Fair Isaac and Company. In the 1950’s, Fair Isaac and company created the mathematical calculation that is used to determine your credit score.  It is a tool that was designed to determine one’s credit score and dependability in paying bills. The terms credit score and FICO score …

Is it too late to Refinance?

The “Experts” Say…“Rates need to be 2% lower to justify refinancing.” Ever hear something like this and take it at face value? In the mortgage business, we hear recitals of old rules all the time. They often come from so-called experts, but frankly, there are times when their advice could lead you down the wrong …

Can I give you a Piggy Back?

Whether you call them Piggy Back Loans, Blended Mortgages, A first and second, 80-10-10, these loans are extremely helpful in avoiding Private Mortgage Insurance (PMI). When you have less than 20% to put down on a home, you are charged Private Mortgage Insurance, this added cost is based on the actual down payment as well …

Is Your Glass Half Full or Half Empty?

A psychologist walked around a room while teaching stress management to an audience. As she raised a glass of water, everyone expected they’d be asked the “half empty or half full” question. Instead, with a smile on her face, she inquired: “How heavy is this glass of water?” Answers called out ranged from 8 oz. …

So Why Do Mortgage Rates Change So Much?

Have you ever called a mortgage company and received a quote and then called back the next day and the same rate was no longer available?? Mortgage companies, Banks and Credit Unions are subject to potential daily and even hourly shifts in the market. Interest rates fluctuate on the simple principal of supply and demand.    …

The True Meaning of National Doughnut Day

National Doughnut Day started in 1938  as a fund raiser for Chicago's Salvation Army. Their goal was to help the needy during the Great Depression, and to honor The Salvation Army "Lassies" of World War I, who served doughnuts to soldiers in the First World War. Soon after the US entrance into World War I …

1% increase in mortgage rates will cost you $50k in Buying Power!

We have seen mortgage rates as low as 3.250% in Fall of 2016 to a high of 5.00%  in May 2018.  We have to readjust our purchasing power and how these rates can affect how much we can afford for a home.  This means going to your lender and having your "Pre-Approval" updated to reflect the current …