Lauren Davis
REALTY EXECUTIVES Boston West | 508-254-0449 | [email protected]


Posted by Lauren Davis on 7/18/2018

Buying a home as a single individual comes with its own set of unique experiences and challenges. Some are to be expected, like financing with a single income. While others not so much, like a more competitive market.

You know that financing will be based on your sole income. However, the vast majority of homeowners are couples who have dual incomes. Your eligibility is going to be very different than that of a couple and for some home buyers when they receive a lower number this comes as a shock. Expect to see numbers that are on the lower side of those who apply as couples.

Since you are on a sole income you may want to look into various loan types such as those that offer low-interest rates and lower down payments. Two to look at are first-time buyers programs and FHA loans.

When comparing options watch the lenders fee in comparison to the interest rate. Where you may have low-interest rate it might come with a higher lender fee. Do the math on these ratios to get a true value of each.

Before applying for mortgage approval, clean up your budget and handle any existing debts, especially expensive ones. Pay off card balances, refinance student loans, and swap out expensive monthly car payments for one that is more reasonable.

Draw up a budget and get really clear on just how much house you can afford month to month. Include the cost of house ownership and maintenance in your budget in addition to the cost of future monthly mortgage payments.

As a sole earner having savings is incredibly important as you donít have a second income to rely on. In addition to setting aside your down payment (as close to the recommended 20% as you can), build up a nest egg of three to six months worth income should anything misfortune arise.

Start the buying process well prepared with the right mindset. Smaller houses make up a lower percentage of the housing market and cheaper homes are competitive when it comes to the buying process. Be ready for a search that might go a little longer and a buying process that needs you to move a little faster than traditional ones.

Bring a trusted friend or family member with you to home viewings to have a sounding board for your decision process. Itís easier to get swept away emotionally when you donít have a partner to hash out the gritty details with. Find someone who can come to each viewing with you so that you can compare the different homes proís and conís together.

Buying a home as an individual is a unique process but it doesnít have to be a difficult or lonely one. Ask for feedback from your realtor, bring a trusted friend and know what to expect from the buying process as a sole income earner.





Posted by Lauren Davis on 7/11/2018

Beautiful four bedroom Brentwood colonial on quiet street tucked into a large neighborhood; close to pool, golf course and more... Kitchen features granite countertops, double ovens, great cabinet and pantry space. Living room has fireplace, large bay window and hardwood flooring. Lovely formal dining room with built-in hutch. French doors lead out to amazing light filled sunroom with cathedral ceiling, recessed lights and slider out to fabulous wrap around porch with pergola. Second floor has four bedrooms all with hardwood flooring & closets. An updated full bathroom and linen closet completes the second story. This home has a two car attached garage as well as a shed for additional storage. The large, flat, private corner lot abuts a cul-de-sac road. Recent updates include deck, replacement windows, paint, brand new roof and more. All this plus Holliston's highly ranked school system offering French Immersion, Montessori and Traditional programs.

More Info on this Property | New Listing Alerts





Posted by Lauren Davis on 7/11/2018


93 Karen Circle, Holliston, MA 01746

Single-Family

$469,900
Price

8
Rooms
4
Beds
1/1
Full/Half Baths
Beautiful four bedroom Brentwood colonial on quiet street tucked into a large neighborhood; close to pool, golf course and more... Kitchen features granite countertops, double ovens, great cabinet and pantry space. Living room has fireplace, large bay window and hardwood flooring. Lovely formal dining room with built-in hutch. French doors lead out to amazing light filled sunroom with cathedral ceiling, recessed lights and slider out to fabulous wrap around porch with pergola. Second floor has four bedrooms all with hardwood flooring & closets. An updated full bathroom and linen closet completes the second story. This home has a two car attached garage as well as a shed for additional storage. The large, flat, private corner lot abuts a cul-de-sac road. Recent updates include deck, replacement windows, paint, brand new roof and more. All this plus Holliston's highly ranked school system offering French Immersion, Montessori and Traditional programs.
Open House
Sunday
July 15 at 12:00 PM to 1:00 PM
Come this beautiful Brentwood colonial in terrific neighborhood!
Cannot make the Open Houses?
Location: 93 Karen Circle, Holliston, MA 01746    Get Directions

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Categories: Open House  


Posted by Lauren Davis on 7/11/2018

Many Americans who purchased their home when they had lower credit, a shorter employment history, and less money stand to gain from refinancing their mortgages. However, most miss out on this opportunity or donít realize it in time to save potentially thousands in interest payments.

According to recent data, 5.2 million Americans could save, on average, $215 per month if they refinanced their loan. But many homeowners are hesitant to refinance.

Whether itís because of the inconvenience, the cost of refinancing, the worries about something going wrong, or uncertainty about whether theyíll actually save money if they go through the process, millions of homeowners are missing out.

So, in this article, weíre going to talk about some reasons it may be a good idea for you to refinance. If youíre one of the millions of Americans with a mortgage who are thinking about refinancing, this post is for you.

Riding the wave of the economy

Interest rates on home loans are historically low right now. As a result, homeowners can save by refinancing simply due to changing tides of the real estate market. Although mortgage rates have increased slightly over the past two years, theyíre still on the low end, so this could be your last chance to save.

To consolidate your debt

Credit cards, auto loans, and other forms of debt can add up quickly. If you have a high-interest rate on your other debts, refinancing could be a good way to consolidate and save.

This can be achieved through a home equity loan or by refinancing with a cash-out option. This means you refinance your mortgage for more than you currently owe and take the remainder in cash to pay off your other debts with high-interest payments.

Typically, you need to have at least 20% equity (or have paid off 20% of your mortgage) to be eligible for this option.

Small percentages count for more now

It was once said that refinancing only made sense if you would receive a lower interest rate of at least 1-2%. However, with the prices of homes increasing over the years, sometimes even a small change, such as .75% is enough to save you substantial money on your repayment.

Youíre able to repay early

One of the best ways to save on a home loan is by refinancing to a shorter term. Going from a 30-year loan to a 15-year loan can save you thousands. There are several calculators available for free online that will enable you to estimate how much you could save by refinancing to a 15-year mortgage.

You got a raise

One of the best times to refinance is when you can be certain that you can afford to pay off your loan sooner. As people progress in their career, it isnít uncommon for them to refinance their loan so that they can spend more each month but save in the long run.

Since you have a higher income, and likely higher credit, you can also refinance a variable rate loan to lock in a lower fixed rate.





Categories: Uncategorized  


Posted by Lauren Davis on 7/7/2018


93 Karen Circle, Holliston, MA 01746

Single-Family

$469,900
Price

8
Rooms
4
Beds
1/1
Full/Half Baths
Beautiful four bedroom Brentwood colonial on quiet street tucked into a large neighborhood; close to pool, golf course and more... Kitchen features granite countertops, double ovens, great cabinet and pantry space. Living room has fireplace, large bay window and hardwood flooring. Lovely formal dining room with built-in hutch. French doors lead out to amazing light filled sunroom with cathedral ceiling, recessed lights and slider out to fabulous wrap around porch with pergola. Second floor has four bedrooms all with hardwood flooring & closets. An updated full bathroom and linen closet completes the second story. This home has a two car attached garage as well as a shed for additional storage. The large, flat, private corner lot abuts a cul-de-sac road. Recent updates include deck, replacement windows, paint, brand new roof and more. All this plus Holliston's highly ranked school system offering French Immersion, Montessori and Traditional programs.
Open House
No scheduled Open Houses

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Categories: New Homes