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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How can I get a fast home loan or mortgage?
How can I get a fast home loan or mortgage? To increase your likelihood of getting a fast home loan or mortgage approval in New England, you should prepare to show yourself as creditworthy and financially stable in advance. Getting a mortgage is a major decision, and in today's market, you may need to be ready to make …
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Do I need mortgage insurance?
What is mortgage insurance? Mortgage insurance, or MI, gives eligible Massachusetts homebuyers the flexibility of making a smaller down payment by lowering the risk to the lender originating the loan. Without mortgage insurance protection, lenders normally require a borrower to make a down payment of at least 20% of …
Do credit scores impact your interest rate?
The importance of your credit score when applying for a mortgage When applying for a mortgage for your new home, your credit score will significantly impact the interest rate you are offered and your ability to qualify for a loan. Credit scores are important numbers that influence everything from the interest rate to …
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