Ar_home_b_search
 



down payment: Massachusetts Home Buying - Is the Purchase and Sale Deposit the Same as the Down Payment? - 02/02/10 09:51 PM

Massachusetts Home Buying - Is the Purchase and Sale Deposit the Same as the Down Payment?

Being a Massachusetts home buyer is a bit different than buying in some other parts of the country.  Here in Massachusetts we have a two part contract system.  It consists of the "Offer to Purchase" and the "Purchase and Sale Agreement."  
Initially, at the offer stage it is customary to put a deposit of $500 to $1,000 along with the offer in order to bind the agreement.    
Ten days to two weeks after the offer comes the Purchase and Sale Agreement.  This is the actual … (11 comments)

down payment: Using the $8,000 Tax Credit as a Down Payment on a Home in Massachusetts - 06/10/09 05:50 PM
Is it possible to use the $8,000 tax credit as a down payment when you purchase your home in  Massachusetts? 
Although this has not been the case to date the situation may soon change.
In a recent speech, Secretary of Housing and Urban Development, Shaun Donovan mentioned that the FHA is currently working on a proposal that may allow home buyers being able to use the $8,000 tax credit as a down payment.  Speaking to The National Association of Home Builders, he stated the Federal Housing Administration (FHA) will allow home buyers to apply the $8,000 first-time home buyer tax credit toward the purchase … (0 comments)

down payment: The Return of the Down Payment - Massachusetts Blog - 12/12/08 06:04 PM
                                                     
 Until quite recently, home buyers had been treated to a myriad of low down and no down payment options for financing their home purchases.  With easy credit came less stringent requirements for loan qualification.  This included interest only loans, Option Arm's, 50 year loans, No-Doc loans (no documentation or verification of assets) and what some bankers referred to as NINJA loans, which was slang for No Income, No Job and No Assets. 
These banking practices along with a deregulatory frenzy have helped to set up the currently fragile state of our economy.  Foreclosures are at a record high and we are … (0 comments)

 
2009_head_shot Rainmaker_large

Claudette Millette - Metrowest Mass Buyer Broker

Ashland, MA

More about me…

The Buyers' Counsel

Address: 27 Thomas Street, Ashland, MA, 01721

Office Phone: (508) 881-6230

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog

Find MA real estate agents and Ashland real estate on ActiveRain.