A look into closing costs for mortgages Buying a home is an exciting milestone, but it comes with significant financial responsibilities. One of the key expenses you’ll encounter in New England is closing costs. Understanding these expenses is crucial for all borrowers, especially first-time homebuyers. These …
Are mortgage rates going down?
Mortgage rates are on the decline Yes, mortgage rates are going down and this has sparked an exciting sudden change in the Massachusetts housing market. But who knows for how long? Many prospective borrowers with strong credit were locking their mortgages at the end of last week. Mortgage interest rates change all the …
How accessory dwelling units can provide income and add property value!
What is an accessory dwelling unit? Accessory Dwelling Units (ADUs) have been known by many names: granny flats, in-law units, backyard cottages, secondary units, garage units, and more. They are accessories to a primary residence and provide complete independent living accommodations for one or more people. It is …
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Baby boomers and retirement
The best routes for retirement Baby boomers own the most significant portion of housing value nationwide. Data from the Federal Reserve shows that total real estate wealth in the fourth quarter of 2023 was $44.84 trillion, and boomers claimed an impressive $18.65 trillion (42%) share of that value. A baby boomer is …
10 essential components of a home loan
Understanding home loan basics Do you know what a mortgage is? There are a lot of moving parts when it comes to getting a Massachusetts home loan, but do you really know what each term means and how it impacts you as a homebuyer? Understanding the basic terms in advance can make the process less stressful and help you …
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MEP’s Advantage Down Payment Assistance Program
What is the benefit of down payment assistance? DPA is one of the best tools homeowners have in today's market to make homeownership more affordable for Massachusetts Residents. These programs provide a possible solution to help homebuyers who need financial support. With a shortage of affordable housing across the …
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