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"Financing & Refinancing"
Do you dream about burning your mortgage? Living in a house that’s all paid for when you retire? No more monthly mortgage payments?
While those scenarios may sound great, paying down or paying off your mortgage might not be the best way to a rewarding retirement. That’s because it may not be the best use [...]
What should you know before deciding whether to pay mortgage points or not? Lots!
Here are a few Q&As to get you started:
Q. What is a point?
A. A point is interest paid up front in order to get a lower mortgage rate from the lender. A lower mortgage rate means lower monthly payments [...]
You don’t live in an area that’s traditionally prone to flooding, so why should you be thinking about flood insurance?
Well, one good reason is that flood damage is not typically covered by homeowner’s insurance.
The Federal Emergency Management Agency, FEMA, says that anyone can be financially vulnerable to floods, even in low- to [...]
Whether you are buying your first home, or refinancing your current, there are some basic rules that every potential mortgagee should follow to keep things moving smoothly:
Always:
Be honest when completing the loan application and in answering questions throughout the process. Provide accurate financial information, including employment history, income, bank statements and deposit verification, [...]
Thinking of buying a home? If you’ve started looking, you have probably discovered that the home purchasing process comes complete with it’s own specialized vocabulary. And in case that wasn’t enough, you may find yourself feeling tongue tied and confused by the variety of acronyms.
Case in point – Do you know what the following [...]
In a recent report by Bankrate.com, Massachusetts was listed as the 15th costliest state in the nation when it comes to closing costs for buying a home.
According to an article in the Worcester Business Journal, “last year the average cost to close on a $200,000 mortgage with a 20-percent down payment in Massachusetts [...]
In this radio spot turned video, our own Dave Bernotas explains how refinancing your home with 1-800 East West can be as easy as 1, 2, 3!
And, as Dave explains, we can close your mortgage for a one-time closing fee of just $500! Find out more.
Apply today!
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According to a recent survey conducted by Bankrate, origination and title fees, also known as closing costs, have jumped over 8% in the past year, with mortgagees in New York paying the highest amount in the country (on average $6,183 for a $200,000 loan with 20% down).
What are closing costs? While the [...]
