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Home Buying in Boston : Real Estate Advice

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  • Home Buying451
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Activity 593
Thu Dec 8, 2016
Nicole Vella asked:
Hello:

I made an offer on the following listed property (below) and backed out of the P&S because there was a significant discrepancy in the sq footage between the public listing…
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Tue Nov 29, 2016
Freeman "Mike" Hill answered:
Many condos purposely only allow space for the "over under units". If the builder said it would fit a larger unit you probably have a better chance at a credit. You (or better still your lawyer or buyer's agent) should definitely negotiate this before the closing as the new federal regulations will cause a delay at closing. ... more
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Sat Nov 26, 2016
dearmschris asked:
I've read about some of the HUD programs that list houses at 50% off but they are in hard to reach places. My family lives all around the Boston area. I would like to buy a small single…
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Wed Nov 2, 2016
Marguerite & Edward Cote answered:
My husband is VA approved for a condo/townhouse. We are having a hard time looking . We would like Peabody MA or Danvers MA. We have been looking for 8 months.
0 votes 14 answers Share Flag
Thu Oct 6, 2016
Cassandra C asked:
Fri Sep 9, 2016
Mariyaluci answered:
The 203k loan is a specialized renovation or construction loan, backed by the Federal Housing Administration. It is available to both buyers and refinancing households, and combines the traditional "home improvement" loan with a standard FHA mortgage, allowing homeowners to borrow their renovation costs
Planning to buy a fixer-upper, or make improvements to your existing home? The FHA 203k loan may be your perfect home improvement loan.

In combining your construction loan and your mortgage into a single home loan, the 203k loan program limits your loan closing costs and simplifies the home renovation process.

FHA 203k mortgages are available in all 50 states in loan amounts of up to $625,500.
http://usaconstructionloans.com
... more
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Wed Aug 31, 2016
Bamboopo answered:
Cost of a home is 179,000 with 20% down, how much would be my mortgage per month?
0 votes 5 answers Share Flag
Sat Aug 27, 2016
Vladimirudyak answered:
Yes... it's mandatory in every state for sellers agent to disclose any major problems discovered during previous inspections to new buyers.Especially in New York and Florida, where Annette practices. Can't believe that she calls herself professional yet doesn't know basic things in real estate ethical conduct. ... more
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Fri Aug 26, 2016
Richard Shapiro answered:
less than good. word used to describe loan products for borrowers with credit issues that can not qualify for a typical loan (Fannie/Freddie/FHA/VA).
0 votes 5 answers Share Flag
Sat Aug 13, 2016
Lillytena answered:
A construction loan is not a simple process, and should be left to experienced loan officers/lenders doing business in state where property is located that specializes in new home construction loans. It is common for custom builders to have bank source(s) to do construction loans for homes they build.
If yours does not he should know of a source, but you can typically find a local/regional bank that has a Construction loan dept. Some may do a One Time closing which is for construction and the permanent loan or you may need to find a source also for the permanent loan once construction is finished as many banks only do the construction loan piece.
http://USAConstructionLoans.com
... more
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Fri Aug 12, 2016
Kendratara answered:
The credit requirements for USDA rural development loans are highly flexible. While the USDA official guidelines state no particular credit score requirement, the lenders actually underwriting a rural home loan may ask for a credit score above 600. You should contact a USDA approved lender in your area to understand their required credit qualifications. http://usdalenders.org ... more
1 vote 4 answers Share Flag
Sat Jul 30, 2016
Sally Grenier answered:
Do you know what a short sale is? You probably should talk to a couple of local REALTORS who can explain the process of a short sale. Once you sell your home via short sale, how do you plan on building a new home?? (with what kind of $$)?? ... more
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Thu Jul 28, 2016
Micreese asked:
I would like to buy a house for 250.000 but have 200.000 cash. Credit is bad 610.double to late payments on previous house. Is there any company that will finance me
0 votes 0 Answers Share Flag
Thu Jul 14, 2016
Kathy Burgreen answered:
You can notify your HOA to fix it. As for getting any refunds from the seller - no. Whether they knew it or not, it was your responsibility to find out about the noise. This is not something the seller's have to disclose because it's outside the condo. ... more
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Thu Jul 14, 2016
Matthew Maschler answered:
Yes, but it will probably not lead to a successful agreement. Why do you want to lower the offer?
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Fri Jun 10, 2016
Tulio Yamasita asked:
I have a job offer to move from Atlanta to Cambridge (Boston Area). I love Boston as a city, but my wife and I are just a little skeptical about the Real Estate market since we don't have…
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Thu May 26, 2016
Akdabas answered:
Best options are always with more than 20% down.

Next best options can be one of a) low rate and PMI or b) high rate and no PMI or c) low rate and high closing cost or some other combination of rate, PMI and closing cost.

You can pick one that suits your situation if 20%+ is not an option.
... more
0 votes 1 answer Share Flag
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