Exit Real Estate Executives



Posted by Exit Real Estate Executives on 2/17/2020

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.




Categories: Uncategorized  


Posted by Exit Real Estate Executives on 2/15/2020

This Single-Family in Agawam, MA recently sold for $165,000. This Cape style home was sold by - Exit Real Estate Executives.


122 Southwick St, Agawam, MA 01030

Single-Family

$174,000
Price
$165,000
Sale Price

4
Rooms
2
Beds
1
Baths
**OPEN HOUSES CANCELLED DUE TO ACCEPTED OFFER**You will feel right at home as soon as you walk through the door of this cozy cape. The spacious, eat-in kitchen looks out over the beautiful, huge back yard. The bathroom has been recently updated and all big-ticket items have been replaced in the last few years including the roof, windows, and heating system. Enjoy the central air during those hot summer months. If you need more space, the walk-up attic is just waiting to be finished as a third bedroom or bonus room. A room in the basement is already mostly finished and is just waiting for some final touches. So many options here, bring your ideas!

Similar Properties





Categories: Sold Homes  


Posted by Exit Real Estate Executives on 2/14/2020

This Single-Family in Sturbridge, MA recently sold for $304,900. This Colonial style home was sold by - Exit Real Estate Executives.


151 Cedar St, Sturbridge, MA 01518

Single-Family

$304,900
Price
$304,900
Sale Price

7
Rooms
3
Beds
1/1
Full/Half Baths
Great home in Tantasqua school district with excellent access to Route 20, Mass Pike, and 84 and many area restaurants, shops, and other amenities while set in a great neighborhood! This beautiful colonial offers an eat in kitchen, large dining room, front to back spacious living room, half bathroom, and more space in the basement with a finished family room and storage and laundry on the other side. The second floor has a huge master bedroom with a walk in closet to match, 2 big bedrooms, and a full bathroom. Schedule a showing today!

Similar Properties





Categories: Sold Homes  


Posted by Exit Real Estate Executives on 2/12/2020


230 Southbridge Rd, Warren, MA 01083

Single-Family

$179,900
Price

6
Rooms
3
Beds
1
Baths
Nice 6 room/3br cape with a large living room, 1st floor master, eat in kitchen and 2 more good sized bedrooms on the 2nd floor. Private yard with 2 driveways! Easy access to the MA Pike, Rts 20, 9 & 84! (back on the market only because buyers got cold feet after making an offer)
Open House
Sunday
February 16 at 12:00 PM to 2:00 PM
Cannot make the Open Houses?
Location: 230 Southbridge Rd, Warren, MA 01083    Get Directions






Categories: Open House  


Posted by Exit Real Estate Executives on 2/12/2020


5 Collette Dr, Holland, MA 01521

Single-Family

$229,000
Price

5
Rooms
3
Beds
1
Baths
Enjoy all the benefits of waterfront living, including the view, without the price tag! This meticulously maintained home has so much to offer! If three generous bedrooms, a sunny, inviting living room, a brand new kitchen, a loft, and a 3 season porch don't catch your attention, the deeded access to the flat waterfront lot across the street, complete with a private dock, should seal the deal for you. Not only will you be able to enjoy the beautiful recreational Hamilton Reservoir in all 4 seasons, you'll get to end your days in either the comfort of a cozy fire in the pellet stove or with the cool relief of central air. The generator ensures that you never have to compromise your comfort, regardless of the weather. This home is situated on the second to last lot on a dead end street, so privacy is all yours when you entertain on your patio. With the right offer, the pontoon boat can be yours as well. Don't wait! Make an offer now so this can all be yours in time for the summer!
Open House
Saturday
February 15 at 11:00 AM to 1:00 PM
Cannot make the Open Houses?
Location: 5 Collette Dr, Holland, MA 01521    Get Directions

Similar Properties





Categories: Open House  




Tags