Buying your next home before selling your current one can create a difficult timing issue, especially when much of your available cash is tied up in home equity. A home equity line of credit, or HELOC, may allow a move-up…
Buying a higher-priced home in Massachusetts can be exciting, but it can also be difficult to determine whether a standard conventional mortgage will cover the amount you need. A Massachusetts homebuyer typically needs a jumbo loan when the mortgage amount…
Running your own business can provide financial flexibility, but showing a lender how much income you earn can feel more complicated than it does for a salaried employee. Lenders generally calculate self-employed income by reviewing tax returns, determining adjusted net…
Student loan debt can make buying a home feel more difficult, especially when you’re not sure how the monthly payment will affect mortgage qualification. You can qualify for an FHA loan with student loan debt, but the lender must include…
Saving for a first home can feel challenging, especially when you aren’t sure how much money you’ll actually need at closing. First-time homebuyers in Massachusetts may be able to purchase with as little as 3% down using conventional financing, 3.5%…
Buying a higher-priced home in Massachusetts can be exciting, but the additional mortgage requirements may feel overwhelming. A jumbo mortgage is a home loan that exceeds the conforming loan limit for the property’s county, and it generally requires stronger credit,…
Using the equity in your home can be helpful, but the rates, payment structure, and qualification process may feel confusing. A home equity line of credit, commonly called a HELOC, is a revolving line of credit secured by your home…
Introduction As Thanksgiving approaches, many homeowners find themselves balancing the joys of the season with financial responsibilities. It’s a time when family gatherings and holiday preparations can lead to increased spending. For homeowners, it’s important to consider how holiday expenses…
Finding the right home is exciting, but deciding when to lock an interest rate can add uncertainty to an already time-sensitive process. A mortgage rate lock is an agreement that holds a specific interest rate for a set period while…
Running a business can provide strong income, but showing that income clearly during the mortgage process can feel frustrating. For self-employed mortgage applicants, lenders generally evaluate stable, recurring income by reviewing personal and business tax returns, business cash flow, income…