How To Choose A Mortgage

Now that you’ve decided to buy a home in Bourne, it’s time to consider how you’ll pay for it. Mortgages can be complicated, and selecting the wrong one could seriously jeopardize your future. Here are a few pointers for choosing your mortgage wisely.

GET TO KNOW THE PLAYERS

Talk to a friend or relative who’s local in the Cataumet area and has recently gotten a mortgage– ask if they would recommend their lender and why. Then, reach out to your real estate agent or someone else who deals with mortgage lenders regularly (a financial adviser, attorney, etc.) for help with creating a list of lenders. Search the web and research these recommended lenders extensively, being sure to push past the advertising and investigate fees, lock-in periods, and qualification requirements.

GO LONG

When it came to mortgages, the emphasis used to be on paying them off as soon as possible. Today, the average debt accumulated per person due to credit cards, student loans, etc. indicates that you’re better off opting for the 30-year mortgage instead of the 15-year. This way, you have a lower monthly payment, with the option of paying an additional principal when money is good.

TAKE THE EXTRA POINT

When selecting a mortgage, you usually have the option of paying additional points (a portion of the interest that you pay at closing) in exchange for a lower interest rate. If you plan to stay in your new Cataumet home for a long time—and given the current real estate market, you should—taking the points will save you money and ease the burden you’ll bear down the road, when you’re investing in a family.

DRAFT A PRO

If researching mortgage lenders sounds overwhelming, you might consider hiring a mortgage broker to do it for you. A mortgage broker is an independent contractor who pairs you with lenders by scouring available loans to find the one that best fits your needs. As with your realtor, be sure to research your mortgage broker upfront and get everything in writing.

Not sure which steps to take next? Read our advice on how to minimize financing stress and let us know where you stand in the process of choosing a mortgage for your new Cataumet home so we can help you move forward!

Comments

11 Steps To Downsizing Your Home

Nothing lasts forever -- including a home where you raised a family or lived most of your working life. And it's a fact of life that suddenly, a place that was perfect for you a decade or two ago might start to feel cavernous and empty (or just contain more square footage than you really want to clean regularly). If you're starting to dream about trading in your rambling old house for a smaller cottage or new condo, then it's probably time to seriously consider downsizing from your current home. Before you start shopping and put your home on the market, though, there are a few things you need to think about and discuss with any family members who'll be making the journey with you. Consider your finances It's tempting to look up your home on a website like Zillow or Redfin and revel in how much money it's worth today. So finances might not be top-of-mind when you're thinking about downsizing -- you may believe that you're guaranteed to save money

33 ways to make your home energy-efficient

Not too long ago in our country's history, talking about making your house "greener" might get you labeled a hippie tree-hugger. But times change, and as gas, electricity, and water prices creep up, more and more homeowners are seeing the (strong) advantages that come with considering the environment when you make decisions about your household. Are you interested in making your home more energy-efficient -- and saving money in the bargain? You have a lot of options, from cheap to expensive, so read on to discover whether there are some big (or small) energy-saving opportunities that you're missing. Get an energy audit Most utility companies offer an energy audit, oftentimes for free: They'll send an expert out to your house to take a look at all your appliances, your lights, your windows, your doors, and more -- then make recommendations for changes you can make that will save energy (and money) every month. If you want a personalized rundown of everything

5 Driveway Designs to Drive Up Your Homes Value

1. Pavers: Driveways with pavers are often found in the village area's of Boston, Rhode Island and Coastal communities like Pocasset, Cataumet and Monument Beach. Very durable and many colors to choose from. This design often reminds me of Paul Revere days with candle light, lanterns and horses. 2. Brick: Brick is bold, beautiful and long lasting. Brick has multiple uses and can be combined to match your homes exterior. You do have the ability to change the color to give a custom look to your design. A quick stop at Pocasset Hardware will provide you with a color key and guide to all the paints available to make your driveway stand out from your neighbors. 3. Sea Shells: A crushed seashell driveway adds character to your coastal home. There is a little bit of a smell at first when laying the over your driveway, however in time you will loose the smell and gain a beautiful sea shore look. Not the best choice when removing snow with a snow blower or sn

Cheryl Nightingale - Monarch Realty Group, LLC

Search This Blog