Ways to Build Credit

Keeping a healthy credit score is integral to maintaining your financial wellness and moving toward your life goals. And if your credit score isn’t quite where you want it to be, the good news is that it’s not set for life; your credit score can always improve with the help of smart financial practices. If

How will the higher Mortgage Rates affect your Buying Power?

We have been spoiled with mortgage rates over the last few years  as we saw the the 30 Year Fixed Rate get to the 2.50% range.  As we move forward in 2022, mortgage rates have already started to climb.  Rates are in the 4.00% to 4.25% range and we now have to adjust our purchasing

3% Down and No Mortgage Insurance on 2, 3 and 4 Family Homes

With the announcement from Fannie Mae of increased loan limits for 2019. Not only are the Fannie Mae loans benefiting, so are the MassHousing loans!  Did you know that Mass Housing (MHFA) loans are a safe and affordable alternative to FHA Mortgages.  Did you know the Mortgage Insurance for FHA never goes away!  Mass Housing

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

Adjustable Rates 101

An Adjustable Rate Mortgage provides a specific fixed rate term before becoming an adjustable mortgage.  An example: A 10/1 ARM is fixed for the first 10 years and then becomes a 1 year adjustable rate for the remaining term of the mortgage, thus giving you 10 years  of security at a fixed rate. Advantages: If you know

The Government Shut Down

The current shutdown of the Federal Government has left many homebuyers and real estate industry partners with many questions about how the shutdown will impact their ability to do business. Merrimack Mortgage will continue to operate at full capacity during the shutdown; however, the shutdown creates some challenges for lenders. We hope  you find this

FHA to increase fees…Again!!

FHA is once again increasing mortgage insurance premiums (MIP) on all new purchase and refinance transactions. Effective for FHA loans that have been assigned on or after June 3, 2013 and in addition to this increase, the Annual Mortgage Insurance Premium will remain for the life of the loan. Meaning, you can only remove the

National Open House Weekend April 20 and April 21, 2013

Did you know it is National Open House Weekend?  The National Association of Realtors is expecting to sell almost 10% of the current inventory. With lots of homes on the market and great low rates, this spring market is turning out to be fantastic!  This weekend real estate agents from around the area will be

You do know the Valentine’s Day Legend??

The Legend of St. Valentine The history of Valentine’s Day–and the story of its patron saint–is shrouded in mystery. We do know that February has long been celebrated as a month of romance, and that St. Valentine’s Day, as we know it today, contains vestiges of both Christian and ancient Roman tradition. But who was

What is a Business Cycle?

The “Books” say an average business cycle is 44.4 months and we have lived through many of them. Some longer than that and some as short as a season in New England.  A business cycle is like the exhibit from our youth…“What makes an ocean wave, wave” at the New England Aquarium.  In the exhibit,