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Home Buying in Wareham : Real Estate Advice

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Activity 14
Sun Jun 12, 2016
Scott Godzyk answered:
Yes, a FHA 203k. Ask your loan officer regarding details. It does take longer than a traditional mortgage and it is important your agent and loan officer are well experienced with this program. ... more
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Thu Jul 16, 2015
Ruth and Perry Mistry answered:
Yes

but they can be entered incorrectly

always ask for a Natural Hazards Report from the seller.
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Sun Aug 3, 2014
jvalenti answered:
Interesting responses here. Go John Burke~ To calculate your ability to get a mortgage, here's some tips.. the mortgage can be no more than 26% of your monthly income. the total mortgage plus all other expenses (credit cards, auto loan, etc.), can not exceed 35% of your monthly income. and, the more you put down the more likely someone will give you a loan, but you can put as little as 5% down, and sometimes none. someone like John Burke can find the right loan that allows the least amount down so his clients get the best overall deal - whatever the customer wants i'm sure he'll deliver. I do not know John Burke. The mortgage lender does not need to be local, but local bank giving the loan is better in some cases; if you have been with a local bank that's giving you the mortgage for multiple years and they know you, then it matters. Local banks have 'we give the mortgage no matter what if you have the income (and they have fixed rates for good borrowers (5%), medium (9%) and poor borrowers 14%) dependent on your fico score. and especially if we know you for many years, while big lenders don't care about who you are. my info is a decade old but I bet it's still the same. joseph valenti ... more
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Fri Feb 7, 2014
Scott Godzyk answered:
It may depend if you live their too or if it is a rental property in which your mom just happens to rent.n You may want to ask your cpa to review the rules on rental properties to see if you qualify to take a loss. ... more
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Mon Dec 2, 2013
Anthony Piemonte answered:
Great question...Wish I could answer it for you. The best answer would come from a lender. Are you working with one? If not a have a couple that I could recommend. Contact me if interested! ... more
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Mon Dec 2, 2013
Heath Coker answered:
I would contact a local lending professional for help with this answer.

I know this guy can be helpful.
He is up to date on USDA loans: rtranchell@totalmortgage.com
Bob Tranchell Total Mortgage Services LLC (508) 367-5731 cell


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Sat Nov 2, 2013
Heath Coker answered:
Hi B.

First this appears to be a legal question so I would direct you to an attorney.

However, in MA, there are tax stamps that are printed on a deed and then they have the word cancelled over or near them.
The "cancelled" may be referring just to the tax stamps.
If you received both the homestead and the deed in the same envelope, you may just have received the original deed and homestead for your records.

For clarity, I would call the closing attorney and ask your question.



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Tue Apr 9, 2013
Kevin Vitali answered:
The other person will have to refinance soly in their name. It is the only way it can be done. Hopefully they can qualify on their own.
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Thu Nov 15, 2012
Moy Lopez answered:
Just a few months late but here is one possible answer. Why not winterize it and put in heat with a FNMA HomeStyles loan for second homes. You can finance the purchase price plus the renovation costs all in one loan with as little as 10% down of the acquisition cost ( price of home plus the reno costs). We will hold the renovation funds in a disbursement account and as the contractor completes the work, we will release the funds to you, At the end of the renovations you will have one low firxed rate mortgage and a nice and cozy home that you can enjoy year round. ... more
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Tue Sep 4, 2012
Moy Lopez answered:
Ana, Corey's answer is correct. Second homes only require 10% down if your credti scores meet the guideline requirements. Our FNMA Homestyle loan program will also allow you to finance renovations with your first mortgage.

When I read your question, I am wondering if you meant to ask if you could purchase two vacation homes. If you already have a vacation home in Wareham, the next one will be considered an investment property and you will be required to put 20% down.
... more
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Tue Aug 28, 2012
Haneroad answered:
Sat May 5, 2012
MaryBeth Mills Muldowney answered:
Good Morning Martha, If you are looking for information on over 55 communities in Massachusetts I would be most happy to assist you. There are a number of opportunities on the South Shore and South Coast of Massachusetts. I am specially trained to deal with the over 55 community population via SRES, Senior Real Estate Specialist, I will pay attention to your needs. Which property are you interested in? ... more
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Sat May 5, 2012
Martha asked:
Mon Feb 13, 2012
Heath Coker answered:
You have found one problem with sites that are not owned and run by real estate professionals - the information is there to entice you to post your email and other contact info. I';d contact a professional that knows West Wareham. You can find a few from my company here:
http://www.robertpaul.com/marion-real-estate.asp



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