I get asked this question often: what exactly is Buy Worcester Now? How does it work? Unfortunately, I hear many people are getting frustrated that they can't get specifics on it from real estate agents or the Buy Worcester Now website. 

Bottom line: the specifics depend on you and your situation

Here are the basics:
* the property needs to be in Worcester. There is no specifics on certain neighborhoods in Worcester, it just needs to be a property in Worcester.

* it needs to be your primary residence when you buy it

* you need to be a first time buyer (which means you can not have bought something within 3 years)

Next, call a participating lender (ask your real estate agent who they recommend or look on http://www.buyworcesternow.com/lenders.html). There are several loan programs, depending on your income and situation. Talk to the lender and find out what you qualify for. Different programs have different incentives: lower closing costs, waived application fees etc.) FInd out the specifics of what incentives for which you qualify.

You can begin talking to a lender before you find a property on which to put an offer. Once you find out the program and incentives, you can decide if it makes sense to target Worcester to buy in, or if you want to broaden your search into neighboring towns. Once you put an offer on a property, you can begin to shop around to different lenders to decide which bank you want to ultimately go with.

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 Real Estate in Central Massachusetts
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