Real estate

Should I Refinance with Interest Rates Being So Low?

With mortgage rates on the lower side, the choice to cash in and refinance your mortgage may be tempting, but before you make that decision here are a few facts to help you decide if it is the best financial choice for you and your family. Whether it is just to reduce the amount of interest you pay, or freeing up some income for other items or debts, there are several considerations to take into account. Here are the more popular options for refinancing your mortgage.

Fixed Rate Mortgages

If you like the stability of a fixed rate loan because of your budget can’t handle unexpected fluctuation, then now might be a great time to choose this option. With fixed rates lower than they have been in some time, this may save you money by either reducing your monthly payments or, if you keep your payment the same, reducing the principal on your loan.

Adjustable Rate Mortgages (ARMs)

img_page_breakevenIf you’re planning to stay in a home for only a few years, or your income can handle changing monthly payments, then you can get an ARM for significantly less than a fixed rate mortgage. Adjustable rate mortgages are also popular with people who may have difficulty qualifying for a loan at a higher fixed interest rate, as it lowers the monthly payment.

Home Equity Loans

When interest rates are low, it is a good time to take out a home equity loan. This may allow you to keep your home if you are facing financial problems.
It is also a great way to finance home improvements.

No matter what decision you make concerning the mortgage on your home, keeping your options open, arming yourself with up-to-date knowledge on the markets, and seeking the advice of professionals will keep your investment safe.


Looking to buy or sell a home in the MetroWest area? Real estate agent Robert Brown of RE/MAX Executive Realty services areas such as Hopkinton, Hopedale, Milford, Upton, Mendon, and many more. To learn more about MetroWest real estate agent Robert Brown, please visit the Meet Your Agent page on SellMyMetroWestHome.com

Homes for Sale in Hopkinton, MA | Real Estate Agent in Hopkinton, MA
Homes for Sale in Hopedale, MA | Real Estate Agent in Hopedale, MA
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Homes for Sale in Upton, MA | Real Estate Agent in Upton, MA
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Refinancing After Divorce

Divorce is a difficult experience for everyone involved, and the details of sorting out property can be overwhelming. One of the items you will likely have to deal with is the refinancing of your home if both people were listed on the mortgage. How and when this happens will depend on the terms of your divorce. And of course, always consult your lawyer before making any decisions.

Refinancing To Remove An Owner

In the event that one of the previous spouses 188941811will retain ownership of the home, it will be refinanced to a new loan that is solely in that person’s name, removing the other party’s liability for the mortgage and property.

This can usually be done in a straightforward manner. The new sole owner will take out a loan and pay off the previous loan in the process. In this case the closing costs will be the responsibility of the new sole owner. Once the refinance is complete the other party will no longer be responsible legally for the mortgage or the home itself.

If there is any equity in the property, and cash is taken out during the refinance, the courts will determine how this is distributed during the divorce proceedings. It may be split or belong to one party or the other.

Divorce And Credit

In some cases, divorce can be hard on a person’s credit. This is especially true if there were a lot of debts incurred during the marriage or if a bankruptcy becomes part of the proceedings. A former spouse’s debts can continue to damage your credit for a while after the divorce is final.

This can make the refinance a little more difficult since it will affect credit and thus interest rates. Talk to your mortgage broker regarding the potential impact of your divorce on your credit and determine the best way to approach the refinance.

Who Pays The Mortgage

If child support or alimony is involved in the divorce, one party may continue paying part or all of the mortgage even though they no longer live in the house. This doesn’t mean that it can’t be refinanced out of that person’s name.

This matter should be determined as part of the divorce proceedings, and the home refinanced in accordance with the judge’s determination. Many mortgage brokers are experts in dealing with divorces, refinances, and their repercussions. It makes sense to talk with someone both during and after your divorce so that you know what your options will be.

 


 

Looking to buy or sell a home in the MetroWest area? Real estate agent Robert Brown of RE/MAX Executive Realty services areas such as Hopkinton, Hopedale, Milford, Upton, Mendon, and many more. To learn more about MetroWest real estate agent Robert Brown, please visit the Meet Your Agent page on SellMyMetroWestHome.com

Homes for Sale in Hopkinton, MA | Real Estate Agent in Hopkinton, MA
Homes for Sale in Hopedale, MA | Real Estate Agent in Hopedale, MA
Homes for Sale in Milford, MA | Real Estate Agent in Milford, MA
Homes for Sale in Upton, MA | Real Estate Agent in Upton, MA
Homes for Sale in Mendon, MA | Real Estate Agent in Mendon, MA

Tips For Qualifying For A Better Interest Rate

When it comes to a home loan, the interest rate is a very important factor. It can make all the difference between being able to afford the home of your dreams and having to settle for something less. On a large mortgage, even a slight increase in the interest rate can make a big difference in the monthly payments. Thus, getting the best interest rate possible is the goal of every home buyer.

Your Credit Is Key

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The number one factor in determining what kind of interest rate you will get on your home loan is your credit rating. Keeping tabs on your credit is important for anyone, but especially for those hoping to own a home. Before you apply, you should check your credit report for any errors that you can correct ahead of time. You should also look for anything you can do to improve your credit.

If you have a high debt to income ratio it will hurt your credit. Try to pay off things like high interest credit cards before you apply for a home loan, or at least pay them down to a place where that ratio is improved. You should also avoid applying for credit in too many places—too many checks on your credit can adversely affect your score.

Lock It In

When rates are low, you should get that application for a loan in as soon as you can. In most cases you can lock in a certain interest rate for a particular period of time. Interest rates fluctuate all the time, and sudden changes in the economy can send them up. When they are low, you should be prepared to take advantage. Even with imperfect credit, the higher interest rate in a low set of rates is the better deal, so get it while you can.

Go With Who You Know

In some cases, a financial institution may offer a slightly lower interest rate to long time customers. Because they know your financial history and you have built trust with them, they will be more willing to disregard small credit problems and give you a better rate.

Your interest rate will make a big difference in how fast you pay off your home and how much you can afford. Be sure you do whatever you can to qualify for and lock in a great rate.


Looking to buy or sell a home in the MetroWest area? Real estate agent Robert Brown of RE/MAX Executive Realty services areas such as Hopkinton, Hopedale, Milford, Upton, Mendon, and many more. To learn more about MetroWest real estate agent Robert Brown, please visit the Meet Your Agent page on SellMyMetroWestHome.com

Homes for Sale in Hopkinton, MA | Real Estate Agent in Hopkinton, MA
Homes for Sale in Hopedale, MA | Real Estate Agent in Hopedale, MA
Homes for Sale in Milford, MA | Real Estate Agent in Milford, MA
Homes for Sale in Upton, MA | Real Estate Agent in Upton, MA
Homes for Sale in Mendon, MA | Real Estate Agent in Mendon, MA

Downsize the Easy Way

Are you ready to retire and downsize your home? Here are some ways to prepare for the move and make the process easier.

  1. Research your ideal new home. Look into condominiums and senior communities to see if they have benefits you’ll enjoy. Select an easily accessible home with added features like grab bars or non-slip floors to ensure your future comfort.
  2. Fit your furniture to the space. Chances are you have some larger pieces of furniture that won’t fit in your new home. Keep only essential furniture in good condition.
  3. Clear out your garage. If you’re moving to full_servicea senior community or other organized community, you may not have to worry about yard work. Get rid of tools and equipment you won’t need in your new home, like lawnmowers or large power tools.
  4. Recycle your kitchenware. Donate or dispose of any extra pots, pans or other large items in your kitchen.
  5. Distribute sentimental items. Collectibles, art projects, report cards and baby clothes are full of wonderful memories, but you may not have room for them in your new home. Let your family take home sentimental items they want, and let go of the rest.
  6. Give the kids their stuff. If you have grown children, have them claim their belongings that take up space in your home.
  7. Hold a garage sale. If many items you don’t need are in good condition, a garage sale is an easy way to collect some cash. Sell what you can and donate the items that remain.
  8. Make downsizing an event. Downsizing can be difficult – you are saying goodbye to a beloved family home, after all. Invite your family and neighbors to come help you with the process, and have snacks or an easy dinner to make it more fun. Giving your home a proper farewell may help you get ready to move on.

Give me a call today for your buying and selling needs!


Looking to buy or sell a home in the MetroWest area? Real estate agent Robert Brown of RE/MAX Executive Realty services areas such as Hopkinton, Hopedale, Milford, Upton, Mendon, and many more. To learn more about MetroWest real estate agent Robert Brown, please visit the Meet Your Agent page on SellMyMetroWestHome.com

Homes for Sale in Hopkinton, MA | Real Estate Agent in Hopkinton, MA
Homes for Sale in Hopedale, MA | Real Estate Agent in Hopedale, MA
Homes for Sale in Milford, MA | Real Estate Agent in Milford, MA
Homes for Sale in Upton, MA | Real Estate Agent in Upton, MA
Homes for Sale in Mendon, MA | Real Estate Agent in Mendon, MA

New Listing! 69 East Main Street in Milford, MA


Multi Family Home For Sale In Milford

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$295,000
Single Family Home
Main Features
4 Bedrooms
2 Bathrooms
2 Units
Interior: 2,130 sqft
Lot: 4,573 sqft
Year Built: 1900
MLS #: 71849718
Location
69 East Main
Milford, MA 01757
USA

Robert Brown Robert Brown

REMAX Executive
(508) 243-5015
robertbrown@remax.net
http://sellmymetrowesthome.aroundcapecod.com

Listed by: Robert Brown

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SOLD! 3 Delancy Drive in Plymouth, MA

The Sell My MetroWest Home team has sold another one!IS52dlwebee9af0000000000

We sold this home at 3 Delancy Drive in Plymouth for $264,900 on May 29th and we were able to bring in a lot of interest through our marketing of the home. As you can see, now is THE time to sell. Don’t wait – if you’ve been thinking of selling your home, now is the time!

Looking to sell your home this spring? Experience the difference of working with the Sell My MetroWest Home team! We offer professional interior design consultation, professional photography, & a full-time marketing team that specializes in online marketing to get your home SOLD. It’s a new world & you deserve a team that offers old school work ethic with new age sales experience. 

Browse our website for more information, or give us a call at 508-243-5015 for a free, no-hassle marketing consultation!

Just Listed – 1102 Pine Brook Drive in Peabody, MA – $362,500


Bright Townhouse Condo For Sale


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Description
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$362,500
Condominium
Main Features
2 Bedrooms
2 Bathrooms
1 Half Bathroom
Interior: 2,370 sqft
Year Built: 1989
Location
1102 Pine Brook Drive
Peabody, MA 01960
USA

Robert Brown

Robert Brown

REMAX Executive
(508) 243-5015
robertbrown@remax.net
http://sellmymetrowesthome.aroundcapecod.com

Listed by: Robert Brown

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25 Most Popular Towns in Massachusetts Real Estate in 2014

The results are in! Of the 351 towns in Massachusetts, our report shows the Top 25 Towns with the largest increases in the number of home sales for all of 2014 compared to 2013, a factor which we use to determine whether a town is becoming a sought-after location for homeowners. This list also provides a look into the future of home prices in these areas. Home prices tend to rise after sales rise. Since we actively sell homes in most of these towns, we enjoy preparing this list on an annual basis to better educate our clients.  Read more

Why Home Sellers Need Social Media Marketing

Wooden mannequins pushing puzzle pieces into the right place

Everyone is talking about social media marketing, but believe it or not, many real estate professionals are doing it. The numbers say it works, but the competition has yet to embrace the tech-savvy marketing that can only benefit their sellers. Recent studies show that social media does influence the products and services that we buy quite a bit.

Traditionally, the number one way to market homes on the market has always been word-of-mouth advertising. However, now social media has given home seekers power to buy according to what their family and friends like. Social media marketing has become a sort word-of-mouth marketing “on steroids.”

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