Christine Sosa - RE/MAX On The River



Posted by Christine Sosa on 8/14/2017

If you’re a first time homebuyer and want to start weighing your mortgage options, you’ll have much to learn. With so much at stake, you’ll want to make sure you choose the best mortgage for you now, and one that will still suit your needs years into the future.

Sometimes, first time buyers are hesitant to ask questions they may consider too basic because they don’t want to seem inexperienced to lenders, agents, or anyone else they’ll be in contact with throughout the home buying process.

So, in this article, we’ve compiled a list of commonly asked mortgage questions that first time buyers might want to ask before heading into the process of acquiring a home loan.

What is the first step to getting a mortgage?

This question may seem straightforward, however the first step can vary depending on your financial situation. For those who already have saved up for a down payment and built a solid credit score, the first step is probably contacting lenders and getting preapproved or prequalified.

However, if you aren’t sure about your credit score and haven’t saved up for a down payment (ideally, 20% of what you hope to spend on the house), then you should address those matters first.

To find a lender, you can do a simple Google search for the mortgage lenders in your area, or you can ask around to friends and family to find out their experience with their own mortgage lenders.

What does it mean to be pre-qualified and pre-approved?

If you think of the mortgage process in three steps, the first step would be getting pre-qualified. This means you’ve given the lender enough basic information for them to decide which type of mortgage you’re eligible to receive.

Pre-approval includes collecting and verifying further details. At this step, you’ll complete a mortgage application and the lender will run a credit check. Once you’re pre-approved, your file can be moved to the underwriting phase.

What are closing costs?

“Closing costs” is an umbrella term that covers all of the various fees and expenses related to buying or selling a home. As a buyer, you are responsible for paying numerous closing costs. These can include, but are not limited to, underwriting fees, title searches, title insurance,  origination fees, taxes, appraisal fees, surveys, and more.

That sounds like a lot to keep track of, however your lender will be able to give you an accurate estimate of the total closing costs when you apply for your loan. In fact, lenders are required to give you a list of these costs within three days of your loan application in the form of a “good faith estimate” of the closing costs.

What will my interest rate be?

The answer to this question is dependent upon numerous factors. The value of the home, your credit score, the amount you put down (down payment), the type of mortgage you have, and whether or not you’re paying private mortgage insurance all factor into the interest rate you’ll receive. Interest rates also will vary slightly between lenders.

You can receive a fixed-rate mortgage that does not fluctuate throughout the repayment term. However, you also typically have the option to refinance to acquire a lower interest rate, however refinancing comes with its own costs.




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Posted by Christine Sosa on 8/11/2017

Beautiful and sought after "Waterview Place Condo" facing the Merrimack River. Current owner has updated windows, floors, heating and cooling systems. New kitchen including white cabinets, granite counter, and newer appliances, built in pantry and vinyl flooring. Open to the bright and cheerful dining room with newer slider onto a lovely private deck where you can savor your morning coffee or that quiet peaceful end of your day. Half bath on this floor along with spacious and bright living room where you will enjoy westerly views of the sunsets over the horizon.Head on up to the next level and you will find 2 large bedrooms with an abundance of closet space and laminate flooring Full bath with new tub surround and vanity. This home has been meticulously maintained. The first level consists of 1 car garage, laundry, utility area and a spacious work shop with more storage. This is a commuter's dream just far enough away from downtown, with the river and nature surrounding you...

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Posted by Christine Sosa on 8/11/2017


1431 Pawtucket Blvd, Lowell, MA 01854

Condo

$229,900
Price

5
Rooms
2
Beds
1/1
Full/Half Baths
Beautiful and sought after "Waterview Place Condo" facing the Merrimack River. Current owner has updated windows, floors, heating and cooling systems. New kitchen including white cabinets, granite counter, and newer appliances, built in pantry and vinyl flooring. Open to the bright and cheerful dining room with newer slider onto a lovely private deck where you can savor your morning coffee or that quiet peaceful end of your day. Half bath on this floor along with spacious and bright living room where you will enjoy westerly views of the sunsets over the horizon.Head on up to the next level and you will find 2 large bedrooms with an abundance of closet space and laminate flooring Full bath with new tub surround and vanity. This home has been meticulously maintained. The first level consists of 1 car garage, laundry, utility area and a spacious work shop with more storage. This is a commuter's dream just far enough away from downtown, with the river and nature surrounding you...
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Tags: Real Estate   Condo   Lowell   01854  
Categories: New Homes  


Posted by Christine Sosa on 8/7/2017

Between 30 and 70 percent of the water used by homeowners is used outdoors. Water usage in the summer time skyrockets as the heat rises and the grass starts growing. People are watering their gardens, their lawns, and themselves as a means to fight back against the heat of the season. Water usage, however, is becoming an increasingly serious issue as global temperature rises. In recent years, droughts have affected much of the continental United States, from California to the Carolinas. Most of us have become familiar with the concept of local water bans; limits on water usage for things like watering the lawn, washing cars, etc. However one good practice to get into is conserving water usage even when your area isn't in a time of drought. Follow these tips to start conserving water. They'll help you save money and help you do your small part for the environment as well.

Tips for conserving water outdoors

Since water usage peaks during the summer when we spend more time outdoors, we'll begin with tips for saving water in the backyard.
  • Sprinkler systems. Homes with sprinkler systems use significantly more water than those without. Sprinkler systems often water the grass when it doesn't need it or it overwaters. Properly setting up your sprinkler system will keep your water bill down.
  • Watering the grass. Before you water the grass, determine if it needs water. Will it rain soon? Step on the grass and see if it springs back. If it does, you might want to hold off.
  • Keep the grass long. The roots grow deeper when the grass grows longer. Deeper roots mean the grass taps into groundwater deeper into the earth, so you won't need to water as much.

Indoor water conservation

  • Replace old faucets and shower heads. Upgrading to more efficient faucets and shower heads will significantly cut down on water usage. If you're concerned about water pressure in the shower, go with a shower head designed for such a purpose.
  • Use a shower bucket. When you're heating up water for your shower, catch it in a bucket and use it to water your indoor and outdoor plants. Or, take the opportunity to wash your tub with this water.
  • Only run the dishwasher when it's full. Many people don't want to wait to wash the dishes, but doing so will conserve a lot of water in the long run.
  • Turn off the faucet while brushing teeth and washing hands. These are habits that might take some time to break, but they're well worth the effort. Keeping the water running while washing your hands and brushing your teeth uses exponentially more water than is needed.
  • Go to the car wash. Instead of washing your car at home where the water you use runs off into the ground, head to a car wash that utilizes recycled water to wash cars.
  • Wash dishes by hand efficiently. If you don't own a dishwasher or only have a few dishes that need to be washed, do so efficiently. Don't keep the water running while you're scrubbing the dishes, or fill the sink with a couple inches of water and use this for washing all the dishes you have.





Posted by Christine Sosa on 7/31/2017

For those of us looking for small ways that we can contribute to an eco-friendly society, recycling is one of the best places to start. Since its inception in the 1970s, recycling technology has come a long way, making it easier than ever for consumers to recycle their household waste.

Although the excuses for not recycling are dwindling, there still can be a learning curve. Depending on where you live, there might be certain requirements you have to meet for your recycling to actually make it to the plant. And, in spite of the fact that we can now effectively recycle more materials than ever, there are still some items that you shouldn’t toss in the recycling bin.

If you’re new to recycling or just want to learn more about what you can and cannot recycle, read on.

Rules and regulations may vary

Let’s begin with a disclaimer: recycling isn’t the same everywhere. While many cities have free recycling and curbside pickup programs, some smaller towns and suburbs do not. In these instances, recycling is often a service provided by waste management companies in your area at a small added fee to your monthly garbage pickup bill.

What is single-sort recycling?

If you’re new to recycling, odds are you’re imagining having to sort out paper from plastic and metal and so on. However, due to single-sort recycling (also known as “no-sort” and “zero-sort” recycling) you don’t have to worry about putting different items in different bins.

With single-sort recycling, you can put everything in the same container and it will later be sorted automatically at a recycling facility using complex machinery.

What can I recycle?

Generally, the following items are now able to be recycled. However, you should follow the guidelines provided by your recycling company or municipal recycling facility.

  • Aluminum cans and foil.
    2.7 million tons of aluminum is discarded each year, half of which gets processed at a recycling facility. The benefit of recycling aluminum is that it is 100% recyclable, so nothing is lost in the process. At the facility, aluminum cans, foil, and other products are shredded up and turned into small chips of aluminum that can be sent back for production and reuse.

  • Paper and cardboards.
    Magazines, newspaper, cardboard, office paper, and juice cartons are just some of the paper goods that can be recycled. In the U.S., we recycling a large percentage of our paper goods due to the collection of newspapers. One item that people often toss in the recycling bin that isn’t able to be recycling is food containers that have food and grease seeped into them.

  • Glass items.
    Most glass items are recyclable. However, crystal glass, heat-resistant glass, and ceramic items (like plates and mugs) are not able to be recycled at a facility and should either be repurposed or tossed out.

  • Electronics and batteries.
    While you might not be able to toss most of these items in your recycling bin, there are several simple ways to recycle electronics and batteries. Calling your local appliance store, automotive retailers, and electronics stores like Best Buy often will take certain items for reuse and recycling.




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