Mary Foley Real Estate Inc.
Mary Foley Real Estate Inc.


Posted by Mary Foley Real Estate Inc. on 1/4/2020

OWN INSTEAD OF RENT!! LIVE IN ONE UNIT WHILE FIXING UP THE OTHER. LOTS OF POTENTIAL!

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Posted by Mary Foley Real Estate Inc. on 1/3/2020


23 Aspen St, Ware, MA 01082

Multi-Family

$69,900
Price

2
Units
1,680
Approx. GLA
OWN INSTEAD OF RENT!! LIVE IN ONE UNIT WHILE FIXING UP THE OTHER. LOTS OF POTENTIAL!
Open House
No scheduled Open Houses

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Tags: Real-Estate   Multi-Family   Ware   01082  
Categories: New Homes  


Posted by Mary Foley Real Estate Inc. on 12/31/2019

You may have heard that you will need 20 percent of the purchase price of a home to put down in order to buy it. As the prices of homes continue to rise. 20 percent of the purchase price of any home may not seem like a small feat to save up. Itís not impossible to buy a home. You may be able to get around the 20 percent rule in a variety of ways. Keep in mind that putting down as large of a down payment as you can will help you to land the home of your dreams a bit faster. 


The 20 percent down rule is sort of a myth. While the more you have saved up, the better your chances of standing out among other buyers are. You can still get a mortgage with less than 20 percent down from most banks. The drawback in not putting down 20 percent on a home is that you will need mortgage insurance (also known as PMI). Mortgage insurance is necessary if you put less than 20 percent down because the lender wants protection in case the home is foreclosed on due to a lack of payments.


All About PMI Payments


If you do put less than 20 percent down on a home, your PMI payments wonít go on forever. Once your loan is paid down a bit, youíll be free and clear of PMI payments. As a rule, if the loan-to-value-ratio reaches 80 percent, you can ask your lender to cancel the insurance for you. When the loan-to-value ratio reaches 78 percent, the lender will automatically cancel the PMI. This is a welcome decrease in expenses since PMI insurance can add up to be hundreds of dollars per month.      


Finding A Way Around 20 Percent Down


Before you even decide to buy a house, you should look at financing options. There are certain programs that are available to you to help. If you know about them ahead of time, youíll be able to take advantage of them.  


Government Programs


Many different government agencies have programs available to help people get a home easier. These programs will provide home loans with a low interest rate and little to no down payment. The downside to these programs is that many of them actually require you to purchase private mortgage insurance as a contingency to get the loan. Youíll need to plan for these extra expenses. There are even grants available to help you with your down payment. Check in your state or local HUD office for details on various programs that can assist you with your down payment on your first home. Through a bit of savings and research, owning your first home can be possible with or without 20 percent down.




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Posted by Mary Foley Real Estate Inc. on 12/30/2019


18-20 Aspen Street, Ware, MA 01082

Multi-Family

$37,900
Price

2
Units
1,476
Approx. GLA
HANDYMAN SPECIAL / FIXER UPPER!! LOOKING FOR A WINTER PROJECT.. LOOK NO FURTHER. BECOME YOUR OWN LANDLORD AND RENT OUT THE SECOND UNIT!
Open House
No scheduled Open Houses






Tags: Real-Estate   Multi-Family   Ware   01082  
Categories: New Homes  


Posted by Mary Foley Real Estate Inc. on 12/27/2019


8 Madison St, Leominster, MA 01453

Single-Family

$410,000
Price

7
Rooms
3
Beds
1/2
Full/Half Baths
NESTLED ON A DEAD END ROAD THIS HOME OFFERS PRIVACY, SPACE AND CONVENIENCE!! THREE BEDROOMS, FULL BATH AND TWO HALF BATHS. DINE IN KITCHEN WITH GRANITE COUNTERTOPS, CHERRY CABINETRY WITH A STEP DOWN TO A GRAND FAMILY ROOM WITH A PELLET STOVE AND BEAUTIFUL BAY WINDOW. SEPARATE LIVING ROOM WITH WORKING FIREPLACE AND SLIDERS LEADING TO A DECK OVERLOOKING THE BACKYARD. FULL BASEMENT WITH LOTS OF NATURAL LIGHT, HALF BATH AND WALK OUT ACCESS! UPGRADES INCLUDE HARDWOODS, CERAMIC TILE, WALK IN CLOSETS AND CENTRAL AIR. PREFERRED LOCATION NEAR HIGHWAY AND ALL AMENITIES.
Open House
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Categories: New Homes