RE/MAX On the River, Inc.



Posted by North Shore Real Estate Home Team on 10/17/2017

Securing a mortgage can take years of planning and saving. Depending on credit score and financial history, it can be difficult for some people to secure a mortgage with a reasonable interest rate and down payment.

As a result, the U.S. government--at both the federal and state level--has created several programs to make the goal of homeownership more achievable for more Americans. 

These programs are designed to help a number of people, including first-time homebuyers, low-income families, people living in rural areas, Native Americans, and veterans and servicemembers of the United States military.

In today’s article, we’re going to be talking about “VA loans,” or loans guaranteed by the United States Department f Veterans Affairs.

What is a VA Loan?

When a bank chooses to approve someone for a mortgage, they have weighed the risks of that person’s ability to pay back the loan. The less certain a bank is that they will see a return on their investment with a borrower, the higher the down payment and interest rate they will require.

One incentive that the U.S. Department of Veteran Affairs offers its service members and veterans is the ability to receive a loan that is, in part, guaranteed by U.S. Government. That means that lenders can safely approve you for lower interest rates and down payments knowing that the money they are lending you is insured.

Who is eligible for a loan?

Loans guaranteed by Veterans Affairs aren’t strictly for veterans. Active duty service members, including National Guard and Reserve Members may also be eligible. In addition to service members, people who are or were spouses of veterans or service members might also be eligible for a VA loan.

Specific eligibility requirements can be somewhat complicated, so it’s a good idea to visit the eligibility page or contact your local Veterans Affairs office.

What are the perks of a VA Loan?

If you’ve spent a significant portion of your time serving in the military, there’s a good chance that saving for a home has been placed on the back burner. Shopping around for a loan with an affordable down payment can be daunting or impossible for many.

Fortunately, with a VA loan eligible recipients are able to receive a loan with a low down payment or even no down payment.

In a time when down payments can average 20% of the mortgage, that can mean a lot of money you won’t have to spend up from. For example, a home that costs $275,000 would have a 20% down payment of $55,000.

What are the fees?

This great deal does come with one catch. As with many loan assistance programs, there is a fee charged for the services. On top of the funding fee charged by the VA, there are other costs associated with buying a home.

These may include appraisals, inspections, credit reports, and more. Additionally, lenders may charge a 1% flat fee for those using a VA loan.




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Posted by North Shore Real Estate Home Team on 10/12/2017


53 Highland Road, Boxford, MA 01921

Single-Family

$620,000
Price

7
Rooms
4
Beds
2/1
Full/Half Baths
Home at last! Meticulously maintained Cape located on a picturesque Boxford road. Walk through the front door and you will feel immediately at home in the welcoming and bright two story cathedral foyer. The kitchen boasts a generous eat in area, large bay window, and an oversized brick fireplace, which lends to the warmth and charm of this home. Enjoy a spacious first floor master bedroom with a beautifully updated master bathroom. Relax in the family room, which includes an additional fireplace. The upstairs features three generously sized bedrooms, storage and family bathroom. Appreciate the peaceful surroundings of the woods and perennial gardens from the views inside the home or outside on the deck or in the yard. Reap the benefits of a new furnace (2017), freshly painted interior (2016), newer composite decking (2011), water treatment system (2011), roof (2009) and hot water tank (2007). First showing at open house on Sunday, September 10 from 12 - 3.
Open House
Sunday
October 15 at 11:30 AM to 1:30 PM
Cannot make the Open Houses?
Location: 53 Highland Road, Boxford, MA 01921    Get Directions

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Categories: Open House  


Posted by North Shore Real Estate Home Team on 10/10/2017


45 Wellington Way, North Andover, MA 01845

Single-Family

$829,900
Price

10
Rooms
4
Beds
2/1
Full/Half Baths
Celebrate this year's Thanksgiving here and find out why 5 of the 7 new homes in North Andover's newest neigh'd. "Wellington Woods" are sold. Enjoy a Brand NEW home with the comfort of a well designed floor plan and this builder's fine attention to detail. Nine foot ceilings on the first floor: featuring an abundant cream cabinetry and walk in pantry kitchen. Step right into this expansive 16' X 24' family room with natural gas fireplace. Dining and Living rooms are enhanced by columns and custom wood moldings, along with red oak hardwood flooring. Other features include: Tray ceiling in the master bedroom, walk up attic, 2nd flr. laundry rm, vinyl siding, 14X16 composite deck off kitchen slider, and walk out basement for future expansion. Last but not least, you will also enjoy the energy efficiency of this fine home. Another home being built by Bob Messina, who has built quality homes in the area for over 25 years. Some personal selections remain.
Open House
Thursday
October 12 at 4:00 PM to 6:00 PM
Commuter Open House - New Construction: Wellington Way. Enjoy Thanksgiving in your Brand New Home.
More Open Houses
Cannot make the Open Houses?
Location: 45 Wellington Way, North Andover, MA 01845    Get Directions

Similar Properties





Categories: Open House  


Posted by North Shore Real Estate Home Team on 10/10/2017


45 Wellington Way, North Andover, MA 01845

Single-Family

$829,900
Price

10
Rooms
4
Beds
2/1
Full/Half Baths
Celebrate this year's Thanksgiving here and find out why 5 of the 7 new homes in North Andover's newest neigh'd. "Wellington Woods" are sold. Enjoy a Brand NEW home with the comfort of a well designed floor plan and this builder's fine attention to detail. Nine foot ceilings on the first floor: featuring an abundant cream cabinetry and walk in pantry kitchen. Step right into this expansive 16' X 24' family room with natural gas fireplace. Dining and Living rooms are enhanced by columns and custom wood moldings, along with red oak hardwood flooring. Other features include: Tray ceiling in the master bedroom, walk up attic, 2nd flr. laundry rm, vinyl siding, 14X16 composite deck off kitchen slider, and walk out basement for future expansion. Last but not least, you will also enjoy the energy efficiency of this fine home. Another home being built by Bob Messina, who has built quality homes in the area for over 25 years. Some personal selections remain.
Open House
Thursday
October 12 at 4:00 PM to 6:00 PM
Commuter Open House - New Construction: Wellington Way. Enjoy Thanksgiving in your Brand New Home.
More Open Houses
Cannot make the Open Houses?
Location: 45 Wellington Way, North Andover, MA 01845    Get Directions

Similar Properties





Categories: Open House  


Posted by North Shore Real Estate Home Team on 10/10/2017

The price to see a major motion picture at a public theater has reached the point where you could easily spend $50 or more to treat a family of three teenagers and two adults to a show. That doesn’t include the costs of popcorn, pretzels and other movie theater refreshments. To counter rising ticket and refreshment prices, some homeowners are investing in a home theater. Yet, price isn’t the only reason to invest in a home theater. Five additional rewards that you may reap from having a home theater follow: Privacy – A home theater gives you the chance to kick off your shoes and enjoy a film while you're dressed in your comfortable pajamas or a rugged pair of jeans. Should you decide to text during a movie, you won't have to worry about anyone glancing at your messages. You’ll also have the privacy to sit where you want and get up as often as you want without stepping in front of strangers. Have it your way – If offerings like Prima Cinema take off, you may be able to watch recent movie releases in your home theater. Say good-bye to checking the Internet or newspaper to find out when the next showing of a movie you're excited about catching starts. Watch older movies on DVD or download a streamed episode of a TV show. Add 3D technology, Bluetooth and high definition DVD and video player features to your theater to bring movie images alive. Enjoy a home cooked meal – Forget snacking on pricey hot dogs, pizzas and cheese pretzels at a public theater. Barbecue or cook a savory home cooked meal and enjoy dining on the food in your private theater while you watch an entertaining movie on your personal wide screen. Get loud – Sound bars and bookshelf speakers can pump lots of clear sound into your theater. Hanging out with friends watching a sports game? Don’t think twice about cheering and laughing loudly as you celebrate scores and other game successes. Comfort – Home theater seats come in sets of two, four and up. There are several styles to choose from, including high back, leather and recliner styles. Some seats mirror living and dining room sectionals. Prop your feet up, lean back and get comfortable while watching a hit movie at home. There are several outlets that offer quality home theater equipment and accessories. Computer, electronics and home goods stores sell home theater products. Automobile detail shops also sell surround sound speakers for houses. Home theater festivals showcase equipment from a wide range of vendors. Try out products. Ask vendors to share details, including pricing, on their products. Check out items like mini amplifiers, channel receivers, subwoofers, projectors, wide screen televisions and floor speakers. Setting up a home theater can be complicated, depending on the type of equipment you purchase. Save yourself a headache and consider having a professional install your equipment. If you take this route, negotiate a lower price on the equipment to save on the combined supply and installation costs.




Tags: home theater  
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