Posted by Peggy Farber on 10/18/2017

Making the decision to buy your first home is a big step. One of the most uncertain parts that’s involved in buying a home is that of securing a first-time mortgage. You’ll need to know what types of programs exist to help you on your journey to homeownership. Even if you have owned a home in the past but are now renting your home, you may be eligible for first-time mortgage benefits. 


The first thing you should do is understand your options for getting a mortgage. The Department of Housing and Urban Development often provides you with agents to help you see whether you will, in fact, qualify for a first time mortgage and all the benefits that go along with it. They may also help you to see exactly what programs will work best for you. You can find agencies in your specific area on the HUD website. 


Each state and local municipality have its own resources for those seeking to buy a home as well. These programs may get more specific, helping low-income earners, first-time home buyers and people with disabilities. Of course, you’ll need to meet certain eligibility requirements before qualifying for the programs. Your state and local housing offices are other great places to start when you’re searching for benefits for first-time home buyers.   


Save, Save, Save! 


Even before you think you might be ready to buy a home, you need to start saving. You’ll need a significant down payment, especially if you’re hoping to avoid private mortgage insurance or PMI. If you can’t swing a 20% down payment, there’s good news: First-time home buyers are eligible for loans that require a lower down payment- as little as 3%! 


You’ll also need a significant amount of savings to pay upfront for closing costs. These fees can come in somewhere between 3 and 4% of the purchase price of the home. It won’t be very pleasant if your bank account is completely empty by the time you reach the closing table. This is why it’s a wise idea to save long before you even think you might want to buy a home.      



Look At Your Finances


In the same light of saving money, you’ll want to keep your financial health in check in order to prepare to secure your first mortgage. First, check your credit score and see where you stand. You can take the time to dispute any discrepancies you may find on your report. Then, start paying off any credit card balances that you may have. Remember that the higher your credit score is, the better your chances are of securing a mortgage and being approved for a first-time home buyer program.





Posted by Peggy Farber on 10/12/2017


287 Wauquanesit Drive , Brewster, MA 02631

Brewster (village)

Condo

$749,000
Price

5
Total Rooms
2
Beds
2/1
Full/Half Baths
Cobbs Pond, your home by the bay! A very unique in town setting sited in between Cobbs Pond and Cape Cod Bay is the back drop for this stunning two bedroom Townhouse. A dramatic two story entry foyer welcomes you into the open floor plan with kitchen, dining and living room all open to the other yet uniquely their own space. The kitchen has been beautifully and thoughtfully re-done; the living room features a gas fireplace and sliders that open to a private deck. The master bedroom is en suite and enjoys a peek of the bay from its' private deck. The guest bedroom is lovely and enjoys a peek of Cobbs Pond. A center hall bath serves the guest bedroom and is where the laundry is conveniently located. Enjoy the private bay beach and walk trail along the edge of Cobbs Pond. Clubhouse, tennis.
Open House
No scheduled Open Houses

Similar Properties





Tags: Brewster   Real Estate   02631   Condo  
Categories: New Homes  


Posted by Peggy Farber on 10/11/2017

Great curb appeal isn't limited to houses that are on the market. Head turning curb appeal can make you feel good every time you drive in front of your house, pull into the driveway or step up the front walkway. House walkways that catch your eye as soon as you spot a house in the distance start with the material that house walkways are made of.

Material for great house walkways

Concrete isn't the only material that great house walkways are designed with. If you do go with concrete, check out different colored concrete walkways when you visit a house goods store or an exterior design shop. For example, if your house is burgundy red and white, you could install a burgundy red and white checkered concrete walkway. Other material that great house walkways are made with include:

  • Brick - The Wizard of Oz isn't the only place where brick walkways work wonders. As with concrete walkways, consider installing brick that's one or more colors that complement colors that your house is built with.
  • Rock - Smooth, rustic or lightly colored rocks made good walkways, especially if the smooth rocks are bordered by plants or flowers. You can also border this type of house walkway with one to two feet high rock walls.
  • Large stones that are built into cement or concrete won't pop into your shoes as you make your way in or out of your house. This is another time when fall colors like reds, greens and browns do wonders. Choose between three to five colors when picking large stones for your front walkway. Make sure that the stones are smooth and even, so people don't trip over them.
  • Gravel - Similar to rocks, you can get gravel indifferent colors, sizes and shapes. The downside of a gravel walkway is that the gravel can get inside your shoes.

Winding front walkways offer an elegant look, especially when they are bordered with gorgeous trees, bushes, flowers or plants. To encourage safety, keep bushes trimmed low so would be burglars can't hide behind them. Also, keep trees far enough away from your house to avoid turning trees into hiding places for would be intruders.

Ground lights that turn on at sunset or when someone starts to make their way up your front walk offer design and safety. Check out four or more outdoor walkway light designs to get more creative ideas on how you can get the walkway you want within a few days.

Don't stop at your walkway. Install wood floorboards and rustic furniture on your front porch to add even more curb appeal to your house. Colorful flowers, plants and uniquely designed ceramic or metal art pieces also bring out your front porch's best features.

Another simple move to great house walkways is to keep your walkways clutter free. Remove garbage pails from the sides of walkways. Return the lawn mower and other outdoor equipment to the basement or garage instead of leaving them on the lawn or next to front walkways.




Categories: Uncategorized  


Posted by Peggy Farber on 10/4/2017

First time homeowners aren't the only people who are making this financial mistake. Millennials also aren't alone when it comes to approaching home ownership with short sight. Even the Great Recession hasn't stopped everyone who wants to own a house from thinking that they'll come out ahead if they wait until after they buy a house to starting putting money toward their mortgage.

Preparing to buy a house smartly could take years

Settling for making monthly mortgage payments, despite what the lender equates those payments to be, is a mistake. Negotiating for lower mortgage payments is only part of it.

The size of your mortgage down payment is significant. Don't wave this off. In fact, as soon as you become serious about buying a house start saving for your mortgage down payment.

Ways to save for your mortgage down payment include investing half (or more) of your quarterly or annual bonus toward your down payment and depositing your tax refund in an interest bearing account.

Money that you earn from a part-time job, including a virtual gig, could also go toward your mortgage down payment. Instead of tossing out clothes that you no longer wear, sell them to a consignment store and deposit the money into an interest bearing account.

Forward movement pays off

Keep saving  until you save at least 20 percent of the total cost of the house that you want to buy. Don't get fooled into thinking that there is only one house that you'll love. After all, you could buy land and have your dream house built on that land.

In addition to having the leverage to put a hefty down payment toward your mortgage, you'll have leverage to negotiate a better mortgage deal from your lender. You might even secure a mortgage with a lender who would never have approved you for a home loan if you didn't have a huge down payment.

Tax write offs may not be enough to subtract pain caused by this single mortgage regret

The government gives people tax deductions for owning a house for good reason. A house is probably the biggest expense that Americans will take on. Buying a house also helps the economy. It makes good sense to reward home buyers with a tax deduction.

But, even tax deductions may not help homeowners recoup the money that they'll lose by overpaying on their mortgage because of poor decisions that they made before they met with their lender. Poor home buying financial decisions could set Americans up for years of hard-to-make mortgage payments.

This single decision damages personal credit, destroys marriages and causes unsuspecting homeowners to lose their houses, sometimes years after struggling to pay their mortgage. Root of the single act that leads to years of mortgage regret is wishful thinking. The price of this wishful thinking is too high to want to take on. It leaves you unprepared.




Categories: Uncategorized  


Posted by Peggy Farber on 10/2/2017

This Single-Family in Brewster, MA recently sold for $462,500. This Ranch style home was sold by Peggy Farber - oldCape Sotheby’s International Realty.


15 Skipjack Way , Brewster, MA 02631

Brewster (village)

Single-Family

$479,000
Price
$462,500
Sale Price

5
Total Rooms
2
Beds
2
Baths
Sweet Cedar and vinyl Cape set on a very private acre lot in an area of fine homes in the heart of Brewster. Septic system designed for 3 bedrooms. (Septic inspected and passed) Gas heat, central air, newer architectural roof shingles, 2 decks, outside shower. Master Suite with sitting area. Easy distance to sandy beach at scenic Point of Rocks. Convenient to bike path, Brewster Fish House and all Brewster has to offer. Level private yard and attached garage.

Similar Properties





Categories: Sold Homes