|4 bds • 2 ba • 1766 sqft • 1 Car Garage|
|2 Eastview Ave Billerica, Ma 01821|
|View Virtual Walk Through HERE|
209 Nashua Road, Billerica
3 Bdrm duplex Condo
Sold for $328,800
How Much Is Your Home In Today’s Market??
You may have wanted to apply for a mortgage at some point but were put off by something negative someone said about this type of loan. Similarly, you may have been encouraged to apply for one based on some false information but met with a quick rejection. Some of the information that bred these misconceptions may not be false but has merely become outdated. Below are some of those misconceived ideas and the truth behind them:
1. You cannot get a loan with a bad credit score
While it is true that most traditional banks will consider you too risky if your score is below 620, other non-traditional lenders will listen to you. Those offering house loans backed by the Federal Housing Administration (FHA) can approve borrowers with a minimum score of 580. Remember, though, that lenders will cover the risk of lending to folks with a low credit score by fixing a higher interest rate. So you might want to clean up your debt before looking for a mortgage.
2. You have to raise 20% as a down payment
In the past, this was true. You had to stump up at least 20% of the value of the property before you approached a lender. Some would require up to 30%. These days you can find lenders who will only ask for 6% to get closing on your mortgage deal. FHA-backed loans will accept even 3.5%.
3. Being pre-approved and pre-qualified are the same thing
Being pre-approved is as almost as good as having the cash to buy a property. Before you get pre-approval, you have to have submitted all required documentation to the lender. Based on your financials, the lender will arrive at a maximum amount they can advance you for the purchase of the property. Your real estate agent can, therefore, use that pre-approval to go house hunting. Getting pre-qualified doesn’t carry this much weight- it only means you have engaged a lender and that you’re ready to begin the application process.
4. The interest rate quoted is what you’ll close with
The rate quoted is subject to change unless you lock it in. Interest rates fluctuate daily, changing severally even on the same day depending on how mortgage bonds trade. From the time you get the initial quote when beginning the pre-approval process to the time you settle on a property and want to close, the rate could have changed by a few points. You can only lock the rate once you’ve identified a home to which you want to commit.
Ask your mortgage officer all the questions you can think of before you close your deal.
There may be snow on the ground but Spring is just around the corner!
In most real estate markets the spring is the most common time to be selling a home, for multiple reasons.
- Supply of ready, willing, and able buyers is the highest in the spring
- Buyers typically get their income tax returns during the spring which can be put towards the purchase of a home
- More daylight meaning homes will typically show better
- Landscaping and curb appeal during the spring is better than the fall or winter months
What can you do to get ready?
Get Pre-Approved Before Spring
You need to be pre-approved for your loan, of course. Why get pre-approved months in advance? In most cases, there are ways to massage your circumstances to get you approved to borrow more, or to get a better rate.
Get your home ready!
Clean & Organize
I know it’s cliché but it’s imperative to give your home a thorough “spring cleaning.” This doesn’t mean wait until spring though. Be proactive and start cleaning now; you’ll be glad you didn’t wait. A huge turnoff for prospective buyers are foul odors. Things such as smoke odors and pet odors can kill home sales.
Begin Packing and Organizing Your Belongings
There’s no way to know for sure how long it will take for your home to sell – it could take a month, or years – and while it may seem crazy to start packing up your stuff before a sale occurs, it’s best to be prepared for any outcome.
Make Repairs and Improvements
The last thing anyone wants to do before they sell their home is to dump a bunch of money into it for an extensive renovation; however, there are minor repairs and improvements that can be made to make a home look fresher for potential buyers. (fresh paint, fresh hardware, etc…)
General Election Day
Determines our elected officials on the federal, state, and local levels. Remember to vote!
Veterans Day (Observed Nov. 12)
In honor of all the brave men and women who have served our country: Thank you for your service.
World Diabetes Day
A global campaign to raise awareness for people with diabetes. Learn more and take action atworlddiabetesday.org.
Great American Smokeout
An event sponsored by the American Cancer Society that challenges people to stop smoking and provides resources to help them quit.
National Adoption Day
Brings awareness to the more than 117,000 children in foster care who are awaiting a forever family.
A time to gather with the ones we love and reflect on what we’re thankful for. Happy Thanksgiving to you and yours!
The official kickoff to the holiday shopping season, for those who love a good deal and don’t mind a crowd.
For those who love snagging a deal but do mind a crowd, shop from the comfort of your computer. Happy shopping!
November = Movember: a movement that encourages men to grow a mustache as a symbol of celebrating men’s health and to raise awareness regarding different male diseases.
November is the birth month of famous people such as Mark Twain, Winston Churchill, Georgia O’Keeffe, Bruce Lee, Scarlett Johansson, Martin Luther, Demi Moore, Leonardo DiCaprio, and Gordon Ramsay.
The Parker Brothers introduced the world to the Monopoly game on November 5, 1935.
39 Pequot Street, Billerica
Over Asking Price At $462,000
How much is your home worth in today’s market??
39 Pequot St, Billerica
An outdoor enthusiasts dream location!! This well maintained 3 bdrm colonial abuts the conservation land of the Vietnam Veterans Park which offers an abundance of trails, you can also launch your canoe or kayak directly across the street or just relax on your front porch admiring the views of Winning Pond!! The open floor plan is ideal for entertaining! Eat in kitchen with pantry, formal dining room open to the large living room and a little nook for an office! Hardwood floors are through out the 1st floor & 2nd floor hallway. Upstairs offers 3 generous sized bedrooms, full bath and pull down attic access. Basement is partially finished and great potential for additional space! Easy to maintained fenced yard with oversized deck that overlooks the conservation land where you can catch many of mother natures little furry friends!
More Details and Pictures
Talk to mortgage brokers.
Many first-time home buyers don’t take the time to get pre-approved. They also often don’t take the time to shop around to find the best mortgage for their particular situation. It’s important to ask plenty of questions and make sure you understand the home loan process completely.
Be ready to move.
This is especially true in markets with a low inventory of homes for sale. It’s very common for home buyers to miss out on the first home they wish to purchase because they don’t act quickly enough. By the time they’ve made their decision, they may find that someone else has already purchased the house.
Find a trusted partner.
It’s absolutely vital that you find a real estate professional who understands your goals and who is ready and able to guide you through the home buying process.
Make a good offer.
Remember that your offer is very unlikely to be the only one on the table. Do what you can to ensure it’s appealing to a seller.
Factor maintenance and repair costs into your buying budget.
Even brand-new homes will require some work. Don’t leave yourself short and let your home deteriorate.
It’s easy to get wrapped up in your present needs, but you should also think about reselling the home before you buy.
Develop your home/neighborhood wish list.
Prioritize these items from most important to least. Select where you want to live.