Home Buying in Boston : Advice

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Mario Pavli, Real Estate Pro in Somerville, MA
Mario Pavli answered:
I am a long time retired RE broker from MA/ NH. Sold many homes VA 0 down in 50's 60's 70's. How has the requirments changed since then?
I would contact a few different mortgage brokers/lenders and see what they say. So many things have changed since those times.

Best Of Luck
0 votes Share Flag Tue Jun 11, 2013 Home Buying in Boston
Filip Ramil, Real Estate Pro in Newton Centre, MA
Filip Ramil answered:
Can I purchase a $400K with 5% down payment nowadays?
Yes and one of the best financing options in this situation is to do an LPMI (means "Lender-Paid Private Mortgage Insurance) loan. With this type of mortgage you don't need to pay a se ... more
1 vote Share Flag Sat Jun 1, 2013 Home Buying in Boston
Moy Lopez, Real Estate Pro in Norwell, MA
Moy Lopez answered:
FHA Down Payment on Multi-family
Yes, as long as the property is a legal two family, The FHA minimum down payment of 3.5% still applies and yes they will consider the rental income of the second unit. Not sure if th ... more
0 votes Share Flag Sat Jun 1, 2013 Home Buying in 02135
Mario Pavli, Real Estate Pro in Somerville, MA
Mario Pavli answered:
Financing options for a green card holder without work history.
If your dad is here and has enough history than it shouldn't be a problem. However if not, I predict that it will be really difficult to get a loan without showing income.

Best Of Lu ... more
0 votes Share Flag Wed May 29, 2013 Home Buying in Boston
Jarred Alexa…, Real Estate Pro in Boston, MA
Jarred Alexandrov answered:
What information should my Buyer Agent provide me?
Hi,
There is a lot of good advice that was offered to you, but if you haven't already you should get preapproved before you go out and look at properties with an agent. That way you kn ... more
1 vote Share Flag Wed May 22, 2013 Home Buying in 02115
Michael A. P…, Real Estate Pro in Boston, MA
Michael A. Pallares, REALTOR answered:
I am interested in buying an apartment in Boston. What is the best area that will increase my changes of constant rental? My budget is $250,000.
Hi Chris,

I've helped many investor clients get into the rental market by facilitating the purchase of units in Brighton. The high student population in the part of Greater Boston is ... more
2 votes Share Flag Mon May 20, 2013 Home Buying in Boston
Boston Luxury…, Real Estate Pro in Boston, MA
Boston Luxury Residential LLC answered:
What is the best way to compare loans terms between lenders?
Please consult a few mortgage brokers and banks for the best deal they can give you.
0 votes Share Flag Thu May 16, 2013 Home Buying in Boston
Brady McDevi…, Real Estate Pro in Boston, MA
Brady McDevitt answered:
I am looking for a 750K non conforming jumbo loan with 10% down and 30 yr fixed rate in Massachusetts. Does anyone know who I can contact?
Dear Jay,
I am a Real Estate Attorney in Boston. For that type of loan you would need a lender with a portfolio loan program. I work with a local mortgage broker and a private mortgage ... more
0 votes Share Flag Thu May 16, 2013 Home Buying in Boston
Josh Barnett, Real Estate Pro in Oklahoma City, OK
Josh Barnett answered:
What are some tips for average buyers to compete with investors in the Boston market?
Work with a Realtor and listen to them.
0 votes Share Flag Wed May 15, 2013 Home Buying in Boston
Ken Lambert, Real Estate Pro in Exeter, NH
Ken Lambert answered:
How much is the typical homeowners insurance on a 200,000 home?
Hello- I'm not sure, but I think the other comment was talking about title insurance, not homeowners insurance.
Property insurance will vary based on many things like the age of pro ... more
0 votes Share Flag Mon May 13, 2013 Home Buying in 02119
Kenzo Tatsuno, Real Estate Pro in 02452
Kenzo Tatsuno answered:
Which one is best for investment to buy a condo , multifamily house or commercial building in PA around Chester County. What is your recomended?
Good answers to start below. It will be important for you to work with your lender and a good local real estate agent who really understands your market, goals and needs.

I am a Real ... more
0 votes Share Flag Mon May 13, 2013 Home Buying in Boston
Kenzo Tatsuno, Real Estate Pro in 02452
Kenzo Tatsuno answered:
Primary or Secondary Home Loan
Great answers below. Please feel free to contact me when you have a better idea about financing considerations. I will be happy to help with your home search.

Thanks Kenzo
0 votes Share Flag Wed May 8, 2013 Home Buying in Boston
Mario Pavli, Real Estate Pro in Somerville, MA
Mario Pavli answered:
What is considered a nice suburb of Boston? Factors include family oriented community, schools, commute and affordable housing...
It depends whether you want to stay in North or South Shore? I lived in Weymouth and loved it. Also Brookline but it's kinda costly.

Best Of Luck
0 votes Share Flag Tue May 7, 2013 Home Buying in Boston
Mario Pavli, Real Estate Pro in Somerville, MA
Mario Pavli answered:
Are closing costs different when refinancing compared to buying?
Yes they are very different and tend to be a bit lower when you refinance.

Best Of Luck.
0 votes Share Flag Tue May 7, 2013 Home Buying in Boston
Danielle M.…, Real Estate Pro in West Roxbury, MA
Danielle M. O'Brien answered:
Is this clause common in normal residential home purchase P&S?
I would say this is very common. There is usually more to it, in fact. A buyer rider can help protect you beyond the standard P&S language furter explaing the limits of what is "reasona ... more
0 votes Share Flag Sun May 5, 2013 Home Buying in Boston
Mario Pavli, Real Estate Pro in Somerville, MA
Mario Pavli answered:
howe do I list a home for sale
I would be more than happy to help. Once put on MLS it will attract a lot of attention.

Best of luck
0 votes Share Flag Fri May 3, 2013 Home Buying in Boston
Christina Ha…, Real Estate Pro in Morristown, TN
Christina Hayes answered:
First time buyer seeking loan for a 3 family triple decker house, around $450k, with 5% down. Income is $110k and credit score 760.
Tom,

Sit down with a broker vs a banker as you will be provided many more options.

Best of Luck;

Christina Solorzano;
CEO & SR Credit Repair Specialist at
Everlasting Credit ... more
0 votes Share Flag Fri May 3, 2013 Home Buying in Boston
Thomas White, Real Estate Pro in Massachusetts
Thomas White answered:
Do split levels sell well?
As many of my colleagues stated, the location is the primary factor. However, consider the appeal of the house. In general, split Levels are still quite popular.
0 votes Share Flag Thu May 2, 2013 Home Buying in Boston
Mario Pavli, Real Estate Pro in Somerville, MA
Mario Pavli answered:
how much the house?
It's listed for $299K but as of right now it is under agreement.
0 votes Share Flag Wed May 1, 2013 Home Buying in East Boston
Mario Pavli, Real Estate Pro in Somerville, MA
Mario Pavli answered:
Do any lenders in the Boston area offer piggyback (80/10/10) or 10%-down jumbo loans?
I would contact a few different mortgage brokers and let them guide you.

best of luck
0 votes Share Flag Mon Apr 29, 2013 Home Buying in Boston
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