How does the Chenoa Fund work? The Chenoa Fund provides second mortgages to be used with FHA loans to cover the minimum down payment requirement when purchasing an FHA-insured home. In effect, pairing the DPA with an FHA loan requires no money from the borrower, and the entire cost of the house is financed. The …
MEP’s Rate Protection Program is a win-win for borrowers!
Every rental payment you make is building equity for someone else. Home values are predicted to continue to appreciate. The prices you see today are going to continue to rise. Don’t you want to realize that appreciation for yourself? MEP’s Rate Protection Program (RPP) allows you to get off the sidelines and buy the …
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A complete guide to closing costs for mortgages
A complete guide to closing costs Buying a home is an exciting milestone, but it comes with significant financial responsibilities. One of the key expenses you’ll encounter is closing costs. Understanding these expenses is crucial for all Massachusetts borrowers, especially first-time homebuyers. These additional …
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What is a mortgage pre-approval?
What is the Cash Ready Plus Program? A mortgage pre-approval is designed to make the homebuying process easier. Getting a fully underwritten pre-approval from Mortgage Equity Partners means your loan officer and an underwriter have thoroughly reviewed your financial position. By issuing a pre-approval letter, we are …
The best renovations to get this summer
Why summer is ideal for home renovations The warm weather and extended daylight hours make summer ideal for home renovations in Massachusetts. You can work on indoor and outdoor projects without worrying about extreme weather conditions. Plus, the kids are out of school, making it easier for the whole family to get …
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Can I get a mortgage without a 2 year job history in Massachusetts?
How important is stable employment when applying for a loan? Stable employment is a crucial factor in the mortgage approval process. Lenders value Massachusetts borrowers with consistent job histories since they demonstrate financial reliability. A steady job ensures a reliable income, reducing the risk of borrowers …
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