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New England Title & Escrow Services | Massachusetts Real Estate Attorney | Blog

New England Title | Massachusetts Real Estate Attorney | Blog

 

What you need to know about the New England real estate and lending market.

Costly Mistakes to Avoid When Purchasing a Home

October 28, 2019

Renting instead of Buying.  Plain and simple, renting an apartment or a house will not build equity.  Your payments are not providing any financial benefit to you.  Once you know you are ready to take the step into home-ownership and you are financially prepared to do so, do not procrastinate.  Even if you know you might be moving or know you will eventually want a larger or newer home, buying a house now just might prove to be a sound financial investment.  If you can find a home at a decent price or a home that needs a bit a work that you are not afraid to tackle, the equity you build up has the potential to provide a much-needed down payment on a home you can plan your future in.

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How to Save Money for a Down Payment

May 06, 2019

As a prospective home-buyer who will be considering a mortgage, you will have to determine how to come up with a down payment for your new house.    The standard down payment for a conventional loan is 20 percent; however, there are other loans that might be available to you, such as the FHA loan, in which you might only be required to put down 3.5 to 5 percent of the purchase price. 

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