Alferes Realty, Inc - Alferes Realty, Inc



Posted by Alferes Realty, Inc on 11/20/2018

Lovely ranch with gleaming hardwood floors, updated bath and kitchen counters. Central air and vac, large 2 car garage-3rd bedroom currently being used as DR. Roof replaced 2009-generator with auto transfer. $269,900 (R220)

More Info on this Property | New Listing Alerts





Posted by Alferes Realty, Inc on 11/20/2018

There is no feeling like the one associated with buying a house. If you know how to navigate the homebuying journey, you can boost the likelihood of enjoying an unforgettable property buying experience.

Now, let's take a look at three tips to help you seamlessly navigate the homebuying journey.

1. Create Homebuying Criteria

For those who want to enter the real estate market, it generally is a good idea to establish homebuying criteria. That way, you can focus on properties that match your expectations.

Think about the features you want to find in your dream residence. For instance, if you want to own a house that offers a spacious backyard, you can narrow your property search accordingly. Or, if you want to purchase a residence close to some of the nation's top schools, you can hone your property search to a select group of cities and towns.

You may want to conduct extensive housing market research too. Because the more you know about the local housing sector, the better equipped you will be to find a home that you can enjoy for years to come.

2. Get Pre-Approved for a Mortgage

If you want to buy a house, you likely will need a mortgage. Lucky for you, banks and credit unions are available nationwide, and these financial institutions can help you get pre-approved for a mortgage.

Meet with a variety of banks and credit unions. By doing so, you can learn about all of your mortgage options and select a mortgage that corresponds to your finances.

Also, if you are uncertain about how a mortgage works or require other home financing insights, reach out to a bank or credit union for support. Banks and credit unions employ courteous, knowledgeable mortgage specialists who can teach you everything you need to know about home financing. As a result, you can work with these mortgage specialists to make an informed home financing decision.

3. Employ a Real Estate Agent

A real estate agent is a must-have, particularly for an individual who wants to minimize stress during the homebuying journey. In fact, this housing market professional will do whatever it takes to help you find a terrific home at a budget-friendly price.

With a real estate agent at your side, you can streamline the homebuying journey. A real estate agent will help you establish realistic expectations for a home search, set up house showings and keep you up to date about new residences that become available in your preferred cities and towns. In addition, a real estate agent will help you put together a competitive offer to purchase your ideal residence. And once you are ready to close on your dream house, a real estate agent will make it simple for you to do just that.

As you get ready to pursue your dream residence, it helps to prepare as much as you can. Thanks to the aforementioned tips, you should have no trouble enjoying a fun, exciting homebuying experience.




Categories: Uncategorized  


Posted by Alferes Realty, Inc on 11/13/2018

If you’re hoping to buy a house in the near future, you’ll want to focus on saving for a down payment.

Down payments are a way to let a lender know that you are a low-risk investment, and a way to save money on interest over the term of your loan.

If you have your other finances in order--a good credit score and stable income--there’s a good chance that making a 20% or more down payment will land you a low interest rate that can save you thousands while you pay off your loan.

How large should my down payment be?

The larger the down payment you can afford, the more money you’ll likely save in the long run. While there are ways to get a loan with no or very small down payments, these aren’t always ideal.

First, if you put less than 20% down on your home loan, you’ll be required to pay private mortgage insurance, or PMI. These are monthly payments that you make in addition to the interest that is accrued on your loan.

So, if you don’t put any money down on your home, you’ll accrue more interest over your term length and you’ll pay PMI on top of that.

What affects your minimum down payment amount?

Lenders take a number of factors into consideration when determining your risk. If you’re eligible for a first-time home owners loan, a veteran’s loan, or a USDA loan, your loan can be guaranteed by the government. This means you can likely pay a lower down payment while still receiving a reasonable interest rate.

When applying for a mortgage, be sure to reach out to multiple lenders and shop around for the rates that work for you. Many lenders use slightly different criteria to determine your eligibility to pay a lower down payment.

Other things that affect your minimum down payment include:

  • Credit score

  • Location of the home you want to buy

  • Value of the mortgage

Saving for a down payment

You’ll get the most value out of your mortgage if you put more money down. However, if you’re currently living in a high-rent area, it could mean that it’s in your best interest to get out of your apartment and start building equity in the form of homeownership.

If you want to buy a home within the next year or two, there are a few ways you can help increase your savings.

First, determine how much you need to save. Depending on your housing needs and the current market, everyone will have different requirements. Do some home shopping in your area online and look for homes that are within your spending limits. Remember that you shouldn’t spend more than 30% of your monthly income on housing (mortgage, property taxes, etc.)

Next, find out what a 20% down payment on that home would be, adjusting for inflation.

Once you have the amount you need to save, remember to leave yourself enough of an emergency fund in your savings account to last you a month or two.




Tags: Mortgage   down payment  
Categories: Uncategorized  


Posted by Alferes Realty, Inc on 11/8/2018

Excellent 2 family home far north. Newer roof, energy efficient heater on first floor, partially finished basement with half bath, detached garage with private access on a good size lot. A must see to appreciate. $274,900 (R323)

More Info on this Property | New Listing Alerts





Posted by Alferes Realty, Inc on 11/8/2018

Mattapoisett Highly Desired Waterfront Association of Point Connett. Meticulously maintained and completely updated Cape Cod style home with attached screen room, and partially finished full basement. Professionally designed and landscaped property, 1 car garage, trex deck w/ ramp, hardwood floors throughout, beautiful granite kitchen, central air, central vac, alarm system. 1 house away from ocean without required flood insurance! Town water and Sewer! Properties in this location are rarely available don't miss out! $740,000 (R195)

More Info on this Property | New Listing Alerts







Tags