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Mortgage Information

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.    […]

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Buyers Mortgage Information Real Estate

Mortgage Document Checklist

Mortgage documents….not sure what that means?  Not sure what’s being asked of you to provide for your loan application?  The list of documents necessary to process your application is relatively short but it contains specific items that are needed. So, follow the steps/directions on the document checklist carefully and you will have a smoother and […]

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Real Estate Sellers

10 Things to do before listing your home

 To help make the selling process easier for you, it makes sense to have your home inspected before listing it.  It may sound like a hassle but it could save you a lot of money and stress early on.  The inspection will pinpoint red flags and areas that have potential problems.  It also gives you […]

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Buyers Real Estate Sellers

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 $3500 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 […]

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Buyers Mortgage Information Real Estate

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 […]

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Mortgage Information Real Estate

How to Shop for a Mortgage

After hitting record lows of 3.250% last year, mortgage rates have inched up a little and in the grand scheme of things…it is only a little!  The trend of course is upwards and like the stock market, it is not a straight line up, we have good days and bad days in the markets and Mortgage […]

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Mortgage Information Real Estate Sellers

The Good Faith Estimate

A good faith estimate (GFE) must be provided by a mortgage lender or broker in the United States to a customer.  The estimate must include an itemized list of fees and costs associated with the loan and must be provided within three business days of applying for a loan.  These mortgage fees, closing costs and […]

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Market News Mortgage Information Real Estate Uncategorized

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 […]

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Buyers Market News Mortgage Information Real Estate Sellers

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 […]

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Buyers Market News Mortgage Information Real Estate

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, […]