It is my goal as your full service Real Estate Broker to provide you with superior service at all times. My local expertise and 14 years real estate experience will benefit you whether you are serious about buying or selling a home at this time, or are a returning client checking out the many homeowner resources available. I pride myself on providing unparalleled service and look forward to developing a long-term relationship with you. Please feel free to contact me if you would like to discuss how I can best assist you with your real estate needs.
The decision to buy a home can be one of the most valuable and important
investments one can make. Therefore it is important that you are familiar
with the mortgage process so that you can wisely finance your home.
Essentially, a mortgage is just a loan that is used to finance the
purchase of property. The property itself is used as security to
ensure repayment until you have repaid the entire amount plus interest.
There are many types of mortgages on the market and finding the right
one can be an overwhelming project. The best approach is to divide the
process into manageable tasks. Sit down with a mortgage professional
and examine the advantages and disadvantages of all available options
to determine which product is best suited to your current situation
and future plans.
How to Find the Right Mortgage
Estimate how long you expect to live in the house. If the
answer is less than three to five years, consider an Adjustable Rate
Mortgage (ARM), which typically starts out with a lower rate. If you
plan to live in your new home longer than five years, a fixed-rate
mortgage offers protection against rising interest rates.
Shop around for mortgage rates. Banks, credit unions, and
mortgage companies all offer mortgages. Compare at least six lenders
in your area.
Add up all the costs for each lender. Include fees, points, closing
costs, etc., to arrive at the total mortgage cost for each lender.
Mortgage Terms
Amortization Period:
The period of time after which, if all monthly payments are made on
time and in full, the loan will be paid out.
Down Payment:
The amount of money provided by you, the purchaser toward the price
of the property (not including legal fees or other acquisition costs).
Interest Rate:
The actual cost of borrowing money, charged as a percentage of the
outstanding amount owed. Usually compounded on a monthly basis.
Mortgage Amount:
The total amount of money to be borrowed by you, the purchaser, and
applied toward the price of the property.
Prepayment Privileges:
The right of the borrower to pay out all or part of the outstanding
principal before it comes due.
Term of the Mortgage:
The period of time during which the loan contract is active. During
this period, you the Borrower makes periodic payments (usually monthly)
to the lender and at the end of the term the balance of the loan becomes
due and payable.
The decision to buy a home can be one of the most valuable and important
investments one can make. Therefore it is important that you are familiar
with the mortgage process so that you can wisely finance your home.
Essentially, a mortgage is just a loan that is used to finance the
purchase of property. The property itself is used as security to
ensure repayment until you have repaid the entire amount plus interest.
There are many types of mortgages on the market and finding the right
one can be an overwhelming project. The best approach is to divide the
process into manageable tasks. Sit down with a mortgage professional
and examine the advantages and disadvantages of all available options
to determine which product is best suited to your current situation
and future plans.
How to Find the Right Mortgage
Estimate how long you expect to live in the house. If the
answer is less than three to five years, consider an Adjustable Rate
Mortgage (ARM), which typically starts out with a lower rate. If you
plan to live in your new home longer than five years, a fixed-rate
mortgage offers protection against rising interest rates.
Shop around for mortgage rates. Banks, credit unions, and
mortgage companies all offer mortgages. Compare at least six lenders
in your area.
Add up all the costs for each lender. Include fees, points, closing
costs, etc., to arrive at the total mortgage cost for each lender.
Mortgage Terms
Amortization Period:
The period of time after which, if all monthly payments are made on
time and in full, the loan will be paid out.
Down Payment:
The amount of money provided by you, the purchaser toward the price
of the property (not including legal fees or other acquisition costs).
Interest Rate:
The actual cost of borrowing money, charged as a percentage of the
outstanding amount owed. Usually compounded on a monthly basis.
Mortgage Amount:
The total amount of money to be borrowed by you, the purchaser, and
applied toward the price of the property.
Prepayment Privileges:
The right of the borrower to pay out all or part of the outstanding
principal before it comes due.
Term of the Mortgage:
The period of time during which the loan contract is active. During
this period, you the Borrower makes periodic payments (usually monthly)
to the lender and at the end of the term the balance of the loan becomes
due and payable.
Braintree, MA Listings
