Archive for the 'buyer agency in ma' category

If you've been on the fence about buying a home, here's some news to consider.

The National Association of REALTORS® has just reported the news that the Federal Housing Authority (FHA) is set to increase fees on FHA loans significantly, effective April 1st.  From the article:

The agency is raising its fees in an effort to try to recoup some of its depleted reserves*, which suffered from the rising number of home owners who defaulted on their mortgages. The agency also says it’s raising fees to try to encourage the return of more private capital to the market. 

FHA loans allow for smaller down payments, as low as 3.5 percent compared to traditional loans, and they often have less stringent credit requirements, which have made them soar in popularity in recent years. (The agency insures loans but doesn’t issue them.) About 40 percent of all new mortgages for home purchases in 2010 were FHA-backed mortgages. 

In particular, FHA will increase two fees that borrowers pay. Starting April 1, it will increase its annual mortgage insurance premium for loans under $625,500,  bringing the total cost from 1.15 percent of the loan amount to 1.25 percent. Starting June 1, larger loan premiums will see an increase of 0.35 percent of a percentage point, bringing the total premium costs up to 1.5 percent of the loan amount, The New York Times reports. 

FHA also announced it will raise a fee for the upfront mortgage premium by 0.75 of a percentage point, which will now total 1.75 percent of the loan amount.

So what does this mean for a typical borrower?  According to The New York Times:

... a borrower with a 3.5 percent down payment with a mortgage of $193,000 can expect to pay an upfront mortgage premium alone of $3,377, compared to the prior $1,930. That can be rolled into the mortgage.

From the example, it's plain to see that these rate hikes will have an impact on how much home you can afford.  But if you secure a mortgage before April 1st, you can avoid these new fees (and save yourself some money).

In addition, these rate hikes will also apply to anyone with a current FHA loan who refinances.  So if you've been considering refinancing, now would also be a good time, before these rate increases go into effect.

Remember, you can search all MA homes for sale right here from my site.  Registration is free, and you are never obligated to buy a home.  And of course, you can take advantage of my Exclusive Buyer Guarantee and save AT LEAST $10,000 on any home you purchase through me.

I'm proud to present my new listing at 25 Rolling Lane in Wayland.  This is a 3 bedroom Split Level home on a desirable cul de sac.  Features include hardwood floors, 2 full baths, lovely landscaped lot, central A/C, updated heating system and hot water heater, and more.

Many people rave about the school system in Wayland, and this home is served by the Happy Hollow School, which is just down the street.  The brand new high school, which is also just down the street, is scheduled to open in December.

If you'd like to schedule a showing for this house, EMAIL ME.  This home is priced perfectly for first-time homebuyers looking to move into Wayland and take advantage of all that this great town has to offer.

Click to see ALL Wayland MA homes for sale.

Click  to see ALL Wayland MA condos for sale.

And if you're thinking of selling your Wayland MA home, you can request a FREE market analysis.  You could be pleasantly surprised at the current market value of your Wayland MA home.

Open House scheduled Sunday August 14th from 1:00 PM to 3:00 PM.

More info on 243 Main Street (Unit D12), Reading MA.  If you're a first-time home buyer, you can own this home for MUCH less than rent.  Stop by, and take the first step towards firing your landlord.

Looking for something different?  See all Reading MA condos for sale.  Or, check out Reading MA homes for sale.

Thinking of selling your Reading home?  Get a free market analysis and find out your Reading home's value in today's market.

Few communities in Massachusetts evoke the sense of history that the beautiful town of Lexington does.  Most of us, of course, know that the Battle of Lexington was the first battle of the American Revolutionary War.  For me, the connection runs deep, as I am descended from Dr Joseph Warren, who sent Paul Revere on his famed midnight ride and later died heroically at the Battle of Bunker Hill.

Indeed, there are many wonderful reminders of our historical heritage to be found in Lexington.  But residents of Lexington MA know it today as much for its wonderful downtown (with its great selection of small shops, art galleries, and diverse restaurants) as well as for its great school system and wonderful tree-lined neighborhoods.

Many people covet a home in Lexington.  And the real estate market in Lexington is healthy, with a nice mix of condos and single family homes.  Whatever your housing needs, my website is a great resource for homes for sale in Lexington MA.  You can search single family home for sale in Lexington, while those interested in buying a Lexington condo or townhouse will find them all conveniently listed.  Whether you're a first-time homebuyer just out of college or a seasoned homeowner ready to move up to your dream home, the Lexington real estate market has what you are looking for.

If you're thinking of selling your Lexington home, you can request a Free, No-Obligation Market Analysis.  You might be pleasantly surprised to find out just how much your Lexington home is worth in today's market.

Recently I had the privilege of representing the sellers of a nice Dutch Colonial Home on a quiet side street in Medford MA.  The owners had done some updates and enjoyed the home but were looking to move further out into the suburbs to a bigger house and start a family.  A first time homebuyer purchased the home and is now busy putting his own stamp on it.

My firm - RE/MAX Results - has represented hundreds upon hundreds of home buyers and home sellers in Medford MA.  Whether you are buying a home or selling a home, I can help you.  If you're thinking of selling your Medford home, you can request a Free, No Obligation Market Analysis.

Buyers can search all Medford MA Homes For Sale, or all Medford MA Condos For Sale.  It's important to note that I am a Certified Buyer Representative (CBR), so call me when you're ready to start seeing homes.

Whatever your needs, I look forward to working with you to make your real estate dreams a reality.