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 … (12 comments)
financing: The Importance of Being Pre-Approved for your Massachusetts Home Purchase
- 04/10/09 11:01 AM
If you have begun the process of searching for a home in Massachusetts you have probably learned that the first step in this journey is obtaining a pre-approval from a bank. A realtor may have suggested that you get "pre-approved" and this step is vital in today's home buying market. What, exactly, is a pre-approval? You may have started the process by going to on-line sites like Lending Tree to put bids out to receive competitive programs that fit your needs or Bankrate.com which has all of the current mortgage rates. The actual pre-approval is a letter from a lender stating that you … (3 comments)
financing: Hopkinton MA Luxury Homes – Special Financing
- 01/26/09 08:34 AM
In the wake of a flat new construction market, Toll Brothers has announced an incentive 30 year loan with a 3.99% interest rate. The loan comes with no points paid up-front for qualified buyers. The special loan is available in 270 Toll communities across 21 states and can be locked in right now for 9 months. One community qualifying for the Toll loan program is the "Estates at Highland Ridge." Now available:
3 Overlook Road, Hopkinton, Ma New Construction - $850,000
Highland Ridge is a luxury Toll Brothers community nestled in the heart of Hopkinton … (1 comments)
As we say good-bye to a year that was one of the worst for the financial and housing markets since the Great Depression, it is incumbent on us to try to find a silver lining. What has 2008 left in its wake that may actually be helpful for new home buyers?
LOW INTEREST RATES Since the Fed announced a plan to buy up to $500 billion of mortgage securities backed by Fannie Mae, Freddie Mac and Ginnie Mae interest rates have dropped to their lowest in 37 years. The government's plan, which may continue to drive … (0 comments)
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