Hope Real Estate Group, Inc



Posted by Hope Real Estate Group, Inc on 12/13/2017

Thereís a lot of things to think about before buying a home--some financial, others personal. Most people tend to focus on one or the other. However, both are instrumental in choosing the right house and buying at the right time.

In this article, weíre going to talk about some of the ways you can determine if youíre ready for homeownership. Weíll discuss things like credit scores and down payments, but also important life factors like your career and future plans.

Getting your finances in order

There are a few simple things you can do right now that will help you understand if youíre financially secure enough to start looking at houses. First, youíll want to look up your credit score.

Lenders strongly consider your credit when determining how much risk is involved in lending to you. A higher credit score can not only get you approved for a mortgage, it can lower your interest rate and make you eligible to borrow without having to pay private mortgage insurance.

The amount of money this saves seems trivial in the short term, but over the lifespan of your loan it can save you tens of thousands of dollars. So, read a free credit report and if your credit is lower than 700 start finding ways to improve your credit.

In the meantime, youíll want to save for a down payment. While itís possible to buy a home with a small or no down payment, it can come back to haunt you in the form of interest as you pay off your loan. Furthermore, many lenders wonít pre-approve you unless you make a down payment of a minimum amount (often 20% of the loan).

If you have a high credit score and youíve saved for a down payment, another thing to check off your list would be proving your stable income. This can be difficult for the self-employed, contract workers, or people who have recently changed jobs.

Lenders want to see that you have a stable income history to ensure that youíll be able to pay your mortgage each month. If you recently changed jobs or are in between jobs, it could be to your benefit to wait 3-6 months before getting pre-approved. In that time, you can continue to raise your credit and save for a down payment, further increasing your chances of getting a low-interest loan.

Preparing for homeownership

While the financial aspects of homeownership are important, so are the personal aspects. Youíll want to consider several life factors before buying a home.

First, think about your longterm goals. Do you want to live in the same area for the next 10 to 30 years? Will your career bring you to different regions or will you attend school somewhere else? These questions will help you decide if itís a good time to buy or a better investment to save money while renting.

If you have a family (or plan on having one soon), youíll also have to find a way to balance all of your living needs.

Finally, ask yourself if you have time for homeownership. Many people who are used to renting arenít aware of the amount of time and money it takes to maintain a home. Youíll have more bills, youíll have to mow your own lawn, and youíll be responsible for maintenance of your home.





Posted by Hope Real Estate Group, Inc on 12/11/2017


24 Stephen Drive, Webster, MA 01570

Single-Family

$279,900
Price

9
Rooms
4
Beds
3
Baths
Marvelously maintained 3 bedroom raised ranch, in desirable neighborhood, close to shopping and great highway access. Open entry invites you into the spacious kitchen and dining rooms all with cathedral ceilings. Sliders lead to a huge 4 season porch you will use all year long. Large sunny living room with bow window. Master suite, two bedrooms and main bathroom complete the upper level. ***Bonus*** an in law apartment with full kitchen, dining area, bedroom, living room, full bath, and a private walkout on lower level. This home has tons of storage and closet space. A two car garage, and a huge backyard perfect for parties, gardening and family fun! A wonderful family home awaits you!
Open House
No scheduled Open Houses

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Categories: New Homes  


Posted by Hope Real Estate Group, Inc on 12/7/2017


6 Boyden Street Ext, Webster, MA 01570

Single-Family

$179,900
Price

7
Rooms
3
Beds
1/1
Full/Half Baths
~*~*SHOWINGS TO BEGIN AFTER TUESDAY 12//12/2017~*~* BUYERS &/OR INVESTORS TAKE NOTICE! ~*~* A SHORT SALE OFFERING WITH FULL LENDER COOPERATION ~*~* A FANTASTIC OPPORTUNITY TO OWN AN AFFORDABLE, MOVE IN READY, SINGLE FAMILY, 3 BR, 1.5 Bath, SPLIT LEVEL STYLE HOME WITH POTENTIAL FOR A 2 FAMILY CONVERSION! This single family is located in a multi-family zoned location and appears to meet all criteria for conversion to a 2 family. Buyer responsible for any and all inspections necessary (at Buyer's expense) to complete sale. Buyer to acquire Certificate of Compliance for Smoke/CO2 alarms upon mortgage approval and prior to transfer. Municipal Water & Sewer ~ Title V not necessary.
Open House
No scheduled Open Houses

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Categories: New Homes  


Posted by Hope Real Estate Group, Inc on 12/6/2017

In a high competition market, you may be tempted to do whatever you can to entice the seller to accept your offer. Buyers write offer letters, provide large down payments, or waive the inspection. Sometimes, this strategy includes removing contingencies from your contract. 


Beware. Removing contingencies can easily become a nightmare for you as a buyer. Certain contingencies should be kept no matter how much you think you should waive them for enticement. 


The Home Inspection Contingency


This contingency is basically universally recommended by realtors everywhere. This contingency allows you to get a licensed home inspector who will check the property. The inspection typically should be done about 7 days from the time you sign the purchase agreement for the home. 


Following the inspection, you as the buyer can request that the seller make certain repairs. The seller can either make the repairs or provide a counter offer. If youíre not satisfied or cannot reach an agreement, you can back out of the deal and still get your money back. 


Without this contingency, youíll never know whatís wrong with the home until you move in it. Itís a huge risk to take to move into a home without understanding all of its moving parts. Is the roof stable? Has the basement flooded? Will the appliances last? There are plenty of questions that you might have about a home that can be answered simply through an inspection. 


Financing Contingency


This is an important contingency. Your offer on the property will depend on being able to get the financing you need to purchase the home. With this protection in place, in the event that you canít get a loan, youíll get your deposit on the home back. Be sure that the clause specifies the number of days that would be recommended by your lender to have the mortgage approved.   


Appraisal Contingency


This could be the most important contingency of all. This protection could possibly save you thousands of dollars of a headache. Once an offer is accepted on a home, youíre far from done. The lender will typically order an appraisal. If the appraisal comes in lower than the offer you made on the home and agreed to pay, you may have some problems. 


The lender will only lend you what the house is worth. If the appraisal comes in lower, youíll need to make up for tens of thousands of dollars out of pocket. Make sure you have an appraisal contingency included in your contracts!  


As you buy a home, remember how important contingencies can be in the process.            




Categories: Uncategorized  


Posted by Hope Real Estate Group, Inc on 12/4/2017

This Single-Family in Dudley, MA recently sold for $249,900. This Ranch style home was sold by - Hope Real Estate Group, Inc.


22 Corbin Road, Dudley, MA 01571

Single-Family

$249,900
Price
$249,900
Sale Price

5
Rooms
3
Beds
1
Baths
**Buyer's Financing fell through!** Lovingly maintained, move-in ready home awaits new owners! It has been meticulously updated over the past several years - both inside and out! Enter into the living room featuring electric fireplace along w/ large window that brings the sunshine in! Eat-in kitchen offers dining area & ample cabinet & counter space. Open the sliders conveniently located off the kitchen & step onto your new deck with views of your tree-lined backyard where you can enjoy your morning coffee listening to the birds sing! Three spacious bedrooms all offer newer floors & ample closet space! Large unfinished basement with wood stove provides potential to be finished into a playroom, office or rec room Ė bring your ideas! Oversized 4 car garage has 2 stories - perfect for your needs! Large backyard makes a great spot for BBQ's and outdoor entertaining! Come see what this home has to offer!

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Categories: Sold Homes  




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