Waterfront Realty Group



Posted by Waterfront Realty Group on 12/9/2018

If youíre hoping to buy a house in the near future, youíll 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--thereís 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 youíll likely save in the long run. While there are ways to get a loan with no or very small down payments, these arenít always ideal.

First, if you put less than 20% down on your home loan, youíll 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 donít put any money down on your home, youíll accrue more interest over your term length and youíll 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 youíre eligible for a first-time home owners loan, a veteranís 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

Youíll get the most value out of your mortgage if you put more money down. However, if youíre currently living in a high-rent area, it could mean that itís 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 shouldnít 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 Waterfront Realty Group on 12/6/2018

This Single-Family in Plymouth, MA recently sold for $517,500. This Cape,Antique,Farmhouse style home was sold by - Waterfront Realty Group.


20 Clifford Rd, Plymouth, MA 02360

Single-Family

$559,900
Price
$517,500
Sale Price

7
Rooms
3
Beds
2/1
Full/Half Baths
Beautiful Chiltonville farmhouse, entirely updated! The two car attached garage with master suite over includes vaulted ceiling, fireplace, walk in closet and master bath with sky lights. 2nd floor also has two more bedrooms, another full bath with skylights, laundry, sitting area, all with newer bamboo floors. The kitchen boasts high end finishes: Jenn Air stainless, farm sink, gas stove, granite, huge island and a coal/wood stove. First floor half bath, sunny large living room with working fireplace and all wood floors. The entire house sparkles, including the basement with new oil tank, new copper plumbing, new super store water heater, and a second washer for your beach or fishing gear! Outside enjoy the gorgeous landscaping, a private patio, lawn irrigation system, cedar shed, fencing and lots of parking including for your boat/trailer! Across the street is the Eel river with a public kayak launch and fishing from the bridge. Stroll to Long Beach just a 1/2 mile away!

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Categories: Sold Homes  


Posted by Waterfront Realty Group on 12/2/2018


317 Summer St, Duxbury, MA 02332

Single-Family

$445,000
Price

8
Rooms
3
Beds
2
Baths
Circa 1832 The Eli Chandler house sits on a lush acre lot. The house has 3 bedrooms and 2 full baths. The first floor features, large kitchen with built ins and center dining room with fireplace, flanked by 2 borning rooms which are now used as a dressing room and office, first floor bedroom as well as living Room & den. The second floor has 2 bedrooms and a small study in between. Large side deck great for entertaining provides access to the exterior screen porch and attached shed/storage area overlooking lush grounds. 2 Car Detached Garage with circular drive.
Open House
No scheduled Open Houses

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Categories: Price Change  


Posted by Waterfront Realty Group on 12/2/2018

You've found your dream home Ė at least, you initially thought you discovered your ideal house. But following the home inspection, you're starting to have second thoughts about whether you want to purchase a particular residence.

A home inspection is a valuable opportunity for a homebuyer. It enables a buyer to receive expert insights from a property inspector about a house's age and condition. Thus, if a home inspection reveals myriad problems with a residence, a homebuyer still has an opportunity to walk away from a home sale.

Ultimately, there are many factors for a homebuyer to evaluate after a home inspection, including:

1. The Home's Condition

When it comes to evaluating a home's condition, there may be more than meets the eye. Fortunately, a home inspection enables a property inspector to take a deep look at a house's interior and exterior and provide detailed findings.

If a home's condition fails to match your expectations, don't hesitate to walk away from a home sale. By doing so, you can reenter the housing market and begin your search for the perfect residence once again.

On the other hand, if a home's condition is not a deal-breaker, feel free to move forward with a home sale. And in a short period of time, you'll likely soon be the owner of a great house.

2. The Home's Age

A home's age may dictate whether substantial home repairs or improvements may be needed down the line.

For example, a home's furnace usually needs to be replaced every 10 to 15 years. If a 30-year-old residence still has its original furnace in place, this device may need to be replaced sooner rather than later.

A home inspection should provide clear-cut insights into potential home improvements that you may need to perform in the near future. Use these insights to your advantage, as they may help you if you try to renegotiate the price of a house.

3. Long-Term Home Improvements

Spend plenty of time with a home inspector and don't hesitate to ask this professional plenty of questions. Remember, he or she is available to help you make an informed homebuying decision. And if you learn about potential long-term home improvements now, you may be able to avoid severe home problems down the line.

If a home inspector discovers roof problems or other substantial house issues, take his or her recommendations seriously. That way, you can avoid the danger of buying a "money pit," i.e. a house that may prove to be more trouble than it's worth.

Lastly, if you need help at any point during the homebuying journey, reach out to a real estate agent. This housing market professional can put you in touch with the best home inspectors in your area and allow you to minimize stress throughout the homebuying cycle.

Ready to make your homeownership dreams come true? Consider the aforementioned factors after a home inspection, and you can move one step closer to purchasing a terrific house at a budget-friendly price.




Categories: Uncategorized  


Posted by Waterfront Realty Group on 12/1/2018


24 Lighthouse Ave, Plymouth, MA 02360

Rental

$3,000
Price

4
Rooms
2
Beds
1
Baths
WEEKLY SUMMER RENTAL - 5 Weeks left. Welcome to the Western Point, Saquish Beach! A slice of paradise that few know that even exists! Tucked in the dunes and away from it all you'll find 'Salty Quarters' a bleached shingle cottage right on the very tip of Western Point. Walk right out the door and have the sand/sea at your feet. Because of it's location you will see sunrise and amazing sunsets. It faces SW, so in the hotter humid days of the summer, the breeze comes right off the water at the house, & on NE wind days its more protected from the rest of Saquish behind it. The house offers a private beach with a mooring capable of holding a 28' boat in 5' at low tide. The house offers 2 bedrooms, 1 with a queen bed, 1 with 2 bunks, a single, & a queen bed in the loft. There is also a queen pullout in the living room. Open Kitchen, eat-in, living room w/ smart TV, stereo. All new front deck with cable railings, + walkaround to the back deck with grill, shed, large outdoor shower.
Open House
No scheduled Open Houses

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Tags: Plymouth   Real Estate   02360   Rental  
Categories: New Homes