Colleen Griffin - RE/MAX Vision



Posted by Colleen Griffin on 2/18/2019

If you are thinking of buying a home, you probably have been getting your finances for some time. First-time homebuyers need the right information to avoid making big mistakes when they purchase their homes. The leap into home ownership is a big one, and youíll want as much information with you along for the ride. Below, youíll find a crash course on mortgages for first-time homebuyers. 


Think Ahead


Every homebuyer needs to prepare ahead of time for the process to be smooth. Research different lenders in your area and see what their rates are. If you talk to your lender about your goals and what type of loans youíre looking for, youíll understand all of the costs that youíll face ahead of time. You donít want any surprises when it comes to signing a contract for a home.


Every Mortgage Is Different


Itís easy to think that all home loans are created equal, but they arenít. The diversity in types of home loans is why you need to research and meet with a lender ahead of time. Talk to your real estate agent and see who they suggest. Your agent is a useful resource because they want your entire transaction to go smoothly for everyone involved. There are many different kinds of mortgages, and you need to make sure youíre getting the loan thatís right for you. Be sure you understand the specifics of each loan before you sign on.       


What You Need In Order


Before you even head into the home buying process, there are a few things that youíll need including:


  • Cash for a downpayment
  • A budget
  • Knowledge of all of your finances
  • Where youíd like to look for a home
  • An idea of how much you can spend on a home
  • Information to get pre-approved including tax returns, proof of income, and bank statements


Once you have saved up cash for a downpayment, itís time to take a look at your budget. Can you afford a monthly mortgage payment in the price range that you hope to buy? How much money will you have left over each month? Should you adjust your expectations? 



Youíll need to save up a bit of cash before you know that youíre ready to buy a home. Itís recommended that you have at least 20 percent of the purchase price of a home to put down towards your loan. The more you put down, the lower your monthly payments will be on the mortgage. So saving is the next big step in securing a mortgage in the smoothest possible way.     





Posted by Colleen Griffin on 2/11/2019

You may know that when you buy a home, you should purchase homeownerís insurance. You may have never wondered if the coverage is required. Usually, insurance will be taken out of escrow and a part of our monthly mortgage payment. You may pay a yearly premium separate from your mortgage payment. Home insurance is a nuisance so if you could find a way around it should you forego it?   


You can legally buy a home without a home insurance policy, but if the house is financed with a lender, the mortgage company usually requires that you have insurance on the property. A lender can also request that your home carry additional policies such as earthquake or flood insurance. There are minimums you must meet based on the value of your home and the lender you do business with. These standards exist so that you as the homeowner will have enough coverage to replace the property should it be a total loss in some type of natural disaster or fire.  


The amount of coverage you need depends on how big the mortgage is that you have taken out. There are certain supplemental coverages that may not be required yet are sensible to carry. These extra coverages include:


Personal liability coverage

Personal property coverage


The good news is that as a homeowner you have a choice. You can shop around and see which insurance companies will give you the best coverage for the lowest price. 


The bottom line is that you shouldnít risk going without home insurance. Even if your loan company allows you to cancel your home insurance after a certain point, the risk is really not worth saving money. Without coverage or permission to cancel coverage, there is a chance your mortgage company could put your loan into default. 


High deductible, basic insurance policies are better than nothing. If youíre going to pay a premium for home insurance, you should look into getting the coverage that makes the most sense for you and your family. You donít need over the top coverage amounts, but you should aim for comprehensive protection for your property. The key is to balance the cost of your insurance with the value of the property. If your house burned down, youíd want to know that you could replace your property without worry. If you didnít have insurance, you could really face some issues. You may not want to pay for home insurance, but you genuinely need it. Make sure you understand your coverages.                





Posted by Colleen Griffin on 2/7/2019


42 Adams Farm Rd, Shrewsbury, MA 01545

Condo

$624,900
Price

7
Rooms
2
Beds
2/1
Full/Half Baths
***New Listing***Welcome to The Prestigious Adams Farms a 55+ Active Community. This Beautiful Home Built by Brendon Homes Offers Extensive Detail and Craftsmanship Throughout. Entering into the Sunny 2 Story Foyer Leading to the Dining Rm with Gleaming Hardwood Flooring, Gorgeous Windows, Crown Molding, Chair Rail and Wainscoting. Cabinet Packed Kitchen with New Appliances and Striking Granite Counters to the Open Eating Area. French Doors Lead to the 4 Season Rm with Vaulted Ceiling, Recessed Lighting and Private Patio Area. The Living Rm with Surround Sound, Vaulted Ceilings, Gas Fireplace, Incredible Built-Ins, 1st Floor Master Suite with Custom Walk In Closet, Whirl Pool Tub, Walk-In Tiled Shower and Double Granite Vanity, Laundry and Half Bath Complete the First Floor. The Second Floor Offers a Cozy Loft with Incredible Built-Ins, Guest Room, Large Full Bath and Media Rm/Office. Bonus Storage Rm, Lots of Closets throughout, Full Basement and Two Car Garage.
Open House
Saturday
February 09 at 2:30 PM to 4:00 PM
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Location: 42 Adams Farm Rd, Shrewsbury, MA 01545    Get Directions

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Tags: Real-Estate   condo   Shrewsbury   01545  
Categories: New Homes  


Posted by Colleen Griffin on 2/5/2019


lot 4 Mashapaug Rd, Sturbridge, MA 01518

Single-Family

$525,000
Price

8
Rooms
3
Beds
2/1
Full/Half Baths
~ New Listing ~ New Construction ~ This Incredible Home is just Minutes to Rte 84, Mass Pike 90 and Rte 20 ~ Amazing layout for this Three bedroom Colonial Featuring an Open Concept Floor plan ~ Beautiful Kitchen leading to Large Family Room with Gas Fireplace and lots of Windows ~ Formal Dining Room with Crown Molding, Wainscoting and Chair Rail and Den or Office Complete the First Floor ~ Upstairs you will find 3 Good Sized Bedrooms with a Master Suite that is Fabulous!! Large Walk in Closet and Full Bath~ Numerous Upgrades included in price including, Central Air, Walk Up Third Floor, Hardwood Floors and Hardwood Stair Treads ~ High Ceilings, Upgraded Molding, and Generous, Appliance, Cabinet and Granite Allowance ~ A Front Porch with Treks Decking and Vinyl Rails ~ Walk out basement with Slider ~ Still time to pick out Flooring, Tile and Colors Selections!
Open House
No scheduled Open Houses

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Posted by Colleen Griffin on 2/4/2019


323 Mill St, Worcester, MA 01602

Single-Family

$239,900
Price

6
Rooms
4
Beds
1
Baths
***New Listing*** West Side Home Being Offered for the First Time in 40+ Years ~ This Beautiful Home has Been Lovingly Cared For and Kept Immaculate! ~ Large Bright Sunny Eat-In Kitchen, All Appliances, Vaulted Ceiling and Skylights ~ Four Bedrooms~ Gleaming Hardwood Floors ~ Economical Gas Heat ~ Gas Fireplace ~ Vinyl Siding ~ Replacement Windows ~ Large Deck ~ Recent Above Ground Pool ~ Fenced in Yard ~ Garage ~ The Perennial Gardens and Flowering Trees in the Large Flat Front & Rear Yard are Stunning ~ Located Minutes from the Commuter Rail and All Major Routes! ~ This Incredible Home Will Not Last!
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Categories: New Homes  




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