How jumbo loans work For most people looking to buy a house, a conventional loan or a government-backed mortgage, such as FHA or VA, is common in New England. But for those who are buying a property that extends beyond the loan limits with these programs, it requires what is known as a "jumbo loan." What is jumbo …
How to refinance: 6 best options
Understanding the different types of mortgage refinance Refinancing your mortgage can be a powerful financial tool, allowing you to adjust your loan terms, lower your interest rate, or even access cash for other needs. But with various refinancing options available in Massachusetts, it’s important to understand which …
Lock in the interest rate and shop for a home stress-free
Lock to Shop program Shopping for a New England home without locking in your mortgage interest rate can be challenging for homebuyers. At Mortgage Equity Partners, we have created a program that will help you lock your rate while you shop. The Lock to Shop program will alleviate some anxiety around rates and make the …
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Chenoa Fund down payment assistance
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 …
Financing a multifamily property
How to finance a multifamily property Purchasing your first Massachusetts home is always a significant milestone, but what if you could also turn it into an investment opportunity? That's where multifamily homes come into play. For first-time homebuyers trying to enter the current housing market, understanding how to …
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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