Drew Mortgage Associates - A Mortgage Company in Boston, MA

VA home loans are considered in the strongest benefits that veterans can easily access. However, there are many VA home loan myths and misconceptions around that stop veterans from getting their dream home. We have collected ten common VA loan myths that will clear out the things for you to decide. Do not let these misconceptions and myths stop you from securing a loan for your home. Visit :  https://www.drewmortgage.com/va-loans-myths-and-reality/

You may have have heard of Conforming and Non-Conforming loans before. Both the loans help you purchase a home that you are interested in. Many people get confused by the terms conventional and conforming. However, there are some important differences between these two categories of loans. This article will help you learn the important parameters that you need to know for understanding the difference. Read here about the differences :  https://www.drewmortgage.com/conforming-vs-non-conforming-loans-difference/

You look forward to Thanksgiving each November. Hosting this great American meal can be exciting as well as tiresome. However, for those who will be celebrating this year's festive season in their new home, it's a special feeling. You want it to be really unique and memorable. We have some tips to make the season special and joyful and not too stressful! Visit : https://www.drewmortgage.com/happy-thanksgiving-from-drew-mortgage-associates/

A 15-year mortgage loan is much better than a 30-year loan. If you want to save some money, then choosing a 15-year mortgage loan will be helpful for you because you don’t have to pay extra money as an interest for the loan amount. This type of loan will help you complete your home loan much faster. However, the monthly payment for this kind of loan will be slightly higher than a 30-year loan because you’ll be completing your loan in half of the term than a 30-year loan. Having a 15-year mortgage loan as a fixed-rate will help you to clear the loan in 15 years. However, if your income is not consistent, then avoid this type of mortgage. This blog provides valuable information about the pros and cons of a 15-year mortgage. To learn more, please visit: https://www.drewmortgage.com/15-years-mortgage-pros-and-cons/

Looking for a home online to buy can be fun. If you’re searching for a home online, then you’re doing the right thing. You might like many houses, but it’s the high cost that stops you from buying. If you’re a first time home buyer, then you might not know where to start from or how to approach a mortgage lender and which loan to choose. Getting help from a mortgage lender is vital. Before you select a mortgage lender you should ask yourself some important questions. This blog provides valuable information on the questions you should ask yourself before selecting a mortgage lender.  To learn more, please visit: https://www.drewmortgage.com/questions-to-ask-before-selecting-mortgage-lender/

It’s exciting for couples to buy a home. Buying a home together requires commitment because you’ll be staying there for a lifetime. However, if you’re not married, buying a home together involves risk. Discuss with your partner and make things clear about how much you both will pay each for mortgage payments. Make a fully thought-out plan for your mortgage payments. To avoid any conflict that will make the situation worse, both need to sign a no-nup, which is a cohabitation agreement. Decide on who’ll actually own the property. This will make things clear and simplified. Buying a home together have been successful for many couples and it’s worthwhile. Read here more about whether it's good to buy a home together before or after marriage :  https://www.drewmortgage.com/buying-home-together-before-marriage-or-after/

Adjustable rate mortgages can change periodically, which means that your monthly payments will fluctuate. If you have a fixed rate mortgage, then you'll make the same mortgage payment until the end of the loan term. Refinancing can help lower mortgage rates and can help you save money over the life of the loan. Before refinancing your loan, you should understand what refinancing actually means. Refinancing a loan is a lot easier than getting a new loan. Refinancing involves some paperwork and closing costs. If you're planning to refinance, then you should calculate how much it will cost you to refinance. Understanding when you should refinance is also vital. Read here more about when is the right time to refinance : https://www.drewmortgage.com/best-time-to-refinance-home-loans/

Renovating your home can add to the look and value of your home. If you're bored with the old look of your home, you can refresh the look by renovating your home. By remodeling or renovating your home, you can personalize your home exactly the way you want it to be, bringing you years of comfort and luxury. Add a splash of color to the walls or your entire home, add extra rooms or luxury home amenities, install appliances and hardware- all which will breathe life back into your home and make it feel new again. Following home renovation trends will keep your home looking modern and new for a long time to come. This blog will provide you with the hottest fall renovation trends in 2018. To learn more, please visit: https://www.drewmortgage.com/home-design-ideas-for-fall/

Are you a veteran with a VA home loan and wondering whether you can get a VA home loan for the second time? Veterans can benefit a lot from VA home loans if they want to buy a home. You can accrue lifelong benefits if you’ve served in the U.S. military. The United States Department of Veterans Affairs (USDA) helps veterans, service members, and eligible surviving spouses with a VA loan. USDA helps them become proud homeowners. VA home loans are usually offered by financial institutions such as banks and mortgage companies . VA home loans need no down payment or private mortgage insurance (PMI) requirements, making the VA home loan an excellent choice for veterans, service members, and eligible surviving spouses. Do you want to know whether you can get a VA home loan for the second time? Read this blog to find out.  https://www.drewmortgage.com/getting-va-home-loans-for-second-time/

Most average homebuyers will need to use a bank or lender to purchase a home. Buying a home is a huge financial decision and requires a good down payment. Identifying a right mortgage lender is essential when helping you identify the right mortgage loan for you. The right mortgage lender will assess your financial situation and suggest a mortgage loan that will best fit your financial situation. In order to find the right mortgage lender, you’ll need thoroughly research and compare mortgage quotes from different lenders. This blog provides valuable information on how you should shop for your mortgage loan. To learn more, please visit:  https://www.drewmortgage.com/how-to-shop-for-mortgage/

Choosing a home loan is one of the most important financial decisions you’ll ever make in your lifetime. Before choosing a mortgage loan, you should thoroughly research some available loan programs. Finding a good mortgage lender is vital. A good lender will help you identify the best mortgage loan program based on your financial situation. Low mortgage rates are important, however, finding a genuine mortgage lender with a streamlined process that keeps things transparent is just as important as just low mortgage rates. Choosing a genuine real estate agent and mortgage lender will help you find and fund your dream home without any issues. This blog provides valuable information about what should you keep in mind (not just rates) when selecting a mortgage lender. To learn more read here at Selecting the Right Mortgage Lender .

What if you don’t have enough money to make a down payment? What will you do? Saving money for a down payment can be difficult for those people who have lower incomes. For first time home buyers, it’s hard to make large down payments. If your income is on the lower side, then it wouldn’t be easy to make a down payment when needed. However, you can still save some money for a down payment. Make sure you pay off the entire credit balance each month to avoid interest charges. This will help you build good credit. Look for programs that’ll help first time home buyers save money. Saving money will help you make a larger down payment. This blog provides valuable information on ways to save money for a down payment. To learn more, please visit:  https://www.drewmortgage.com/how-to-save-for-down-payment/

Buying a new home can be exciting. After purchasing a home, you’ll want to add furniture or decorate your walls and space to make it feel more like ‘home.’ You can get help from your friends, family, and the internet. You may even learn about interior design from television shows. It can be very difficult for some people to decorate their new home. Many people can nail it by watching interior design TV shows which help them to come up with exceptional decorating ideas. New homeowners make many mistakes while decorating their home. We recommend you get a professional to help if you don’t have any experience with interior design. This blog provides common mistakes new homeowners make while decorating their home.  To learn more, please visit:   https://www.drewmortgage.com/common-home-decorating-mistakes/

Some people get their new home or property easily, while for some it takes time, and sometimes some people’s applications are rejected. Home loans deal with a complicated financial process that includes a lot of documentation. It starts with filling out an application and ends with a closing. As a buyer, you’ll be eager to close on your new home. The seller will look to quickly finalize the deal and receive the funds for the property he is selling. The real estate agent obviously wants a seamless transaction and wants to close the deal on time. To learn more, please visit:  https://www.drewmortgage.com/reasons-for-mortgage-delays/

It’s challenging for single moms to raise their children, manage all their responsibilities and work at the same time. This is a lot for a single mom to deal with and her dream of owning a home will remain a dream unless she takes realistic steps towards achieving her goal of owning her own home. Single moms need not worry about buying a home, as there are many home loan options and other assistance that can help attain their dream home. There are grants and incentive programs that can simplify the home buying process and loan options that are more cost-effective than conventional loans. This blog provides valuable information regarding the most suitable home buying programs for single moms .

Everyone goes through a financial crisis at some point in their lives. However, this doesn't mean that you can’t come out of it. A foreclosure is one of the most devastating outcomes of a financial hardship. A foreclosure is frightening, however, it isn’t the end of the road for your dreams of being a homeowner - you can buy a home post-foreclosure. This can be achieved with the help of a well-known and trusted mortgage lender in Boston , MA. This blog answers a few of your questions on home loans after a foreclosure .

Are you looking for refinancing options? Before refinancing, you need to have clearly defined reasons for refinancing. Ask yourself these questions: Do you want to reduce or extend your loan term? Do you want to lower your loan's interest rate? If you’re planning to refinance, you should also know the details of the refinance process, so you understand what to expect. This blog provides valuable information you should know before refinancing your loan .

Mortgage myths are out there. Sometimes it is difficult to differentiate a myth from the truth. The mortgage process can be intimidating for first time home buyers . However, home buyers who know the mortgage process find it quite easy. Apart from understanding the ins and outs of the mortgage process, it's important to know what myths are floating around too. This blog provides common mortgage myths you should know before buying a home.

Although most people won’t need the maximum amount for their loans, there is a limit to how much you can borrow to buy a home with an FHA mortgage in 2018. You should understand some important things about an FHA mortgage. FHA mortgage loans in MA can be a better loan option for some people, including low-down payments, low closing costs, and easier credit score qualifications. FHA loans offer many benefits in 2018, however, you need to meet FHA loan requirements. We advise you to speak to one of our loan officers to understand what the maximum and minimum loan amounts are for an FHA loan. This blog provides valuable information about FHA mortgage loans in 2018 .

There are many reasons that homeowners might not be able to pay their mortgage. It could be a change of finances, a loss of a job, a relocation or a drop in their home’s value. It’s difficult when a homeowner owes more money than their property is actually worth. Foreclosures can also wreak havoc on your credit and prevent you from qualifying for a new loan. Skipping a mortgage payment isn’t always advisable either- it’s certain to have a negative effect on your credit and finances. This blog provides valuable information on why it’s a bad idea to skip your mortgage payments .

USDA financing is an excellent option for those who are low to middle-income borrowers and are looking to buy a home in a rural area. To buy a home in a rural setting, a home buyer must meet the USDA financing income requirement. The USDA has set parameters for a guaranteed home loan program. USDA home loans best suit first time home buyers who wish to live in a rural area. This type of loan is provided by the lender and protected by the USDA in case the borrower is unable to pay back the mortgage. This blog provides valuable information about what to know before applying for USDA financing .

There has been a lot of changes in the loan and real estate industry over the last two years. It's essential for a first time home buyer to be aware of all of these changes. Most lenders are accepting low down payments and higher debt levels for borrowers. Therefore, it's easier to qualify for a loan. Home prices are rising gradually and this trend will be seen for some time. Loan rates are expected to increase. A first time home buyer doesn't need to make a large down payment to buy a home. Today, there are mortgage programs that require a low or no down payment. Keep in mind that most closed home loans were issued to borrowers with a credit score of six hundred or above. This blog provides valuable information about -  10 things a first time home buyer should know .

A conventional 30-year mortgage loan is the most popular loan program in the U.S. People choose a 30-year mortgage loan for low mortgage payments. This becomes convenient for people to pay back their mortgage loan without straining their finances. On the other hand, a 15-year mortgage loan will help you pay back your mortgage loan faster. A shorter loan term means paying back a loan in a short period of time. When you opt for a 15-year mortgage loan, you make larger mortgage payments and you pay back your loan faster than a 30-year mortgage loan. This blog provides valuable insight on Which Mortgage Loan to Choose – a 15-year Mortgage Loan or a 30-year Mortgage Loan .

A good credit score history is essential to qualify for a mortgage loan. Most lenders provide loans to the borrowers based on their credit history. Generally, most people hold conventional lines of credit like credit cards or a current mortgage that builds a track record of debt management. When you don't have a credit history, it's called a non-traditional credit history, however, your rental history and utility bills can increase your credibility as a borrower. People who don't have a substantial credit record often use FHA loans. FHA mortgage loans enable lenders to leverage non-traditional credit history to qualify borrowers. This blog provides valuable information about Home Buying Options for Low-credit Scores .

Closing day is one of the important stages of the mortgage process. It's a day of joy because you'll become a proud property owner. It's a day every homebuyer eagerly awaits. After experiencing all the stress and anxiety, your dream home will be yours. It's the time for celebration, however, you need to keep some essential things in mind. You'll need to be prepared for the closing day. If you’re not prepared for the closing day, it can become a disaster. You don't want to overlook any details. This blog provides valuable information on : What Should You Expect at a Mortgage Closing

It's important for you to understand what an FHA 203k Rehab Loan has to offer, so that you can benefit from the loan. You won't be able to leverage an FHA 203k Rehab Loan unless you understand every aspect. An FHA 203k Rehab Loan is a loan that has the potential to make a fixer-upper become your ideal dream home. You may have found a home that looks like your dream home, but requires restoration. This is where you can leverage the FHA 203k Rehab Loan. An FHA 203k Rehab Loan adds value to a fixer-upper.  This blog provides valuable information on : How to Leverage your FHA 203k Rehab Loan .

Buying a home is the American dream and a proud moment of accomplishment and success. It's the biggest investment you'll make in your life and you don't want your decision to be wrong. There is joy and excitement when you're buying a home, however, it can be nerve-wracking too. You want to make the right decision when there is huge financial investment involved. Buying a home when market rates are high or buying the wrong home can hurt your finances and can affect you for a long period of time. Purchasing the right home at the right time can be beneficial. You may have spent long hours surfing the internet, trying to gather information about properties, which includes prices, and location. This blog provides valuable information on questions to ask yourself before buying a home. To learn more, please visit: 5 Questions to Ask Yourself When Buying a New home

It's every homeowners dream to make their final mortgage payment. As an experienced  mortgage lender in MA , we find that a lot of people have questions related to paying off their mortgage faster. Every dollar added to your regular payment each month makes a substantial difference in your principal balance. This article will help you understand some of the do's and don’ts when paying down a mortgage.  Read More at :  https://www.drewmortgage.com/mortgage-payment-dos-and-donts/

If you’re a first-time homebuyer, a USDA loan is the best home loan, which is backed by the United States Department of Agriculture (USDA). The USDA Home Loan is provided to eligible low-to-moderate income homebuyers to encourage affordable homeownership in eligible rural areas of the United States. It comes with low mortgage rates, affordable payments, and flexible underwriting process. In this video, we will take you through the important criteria that will help you qualify for a USDA loan. https://www.drewmortgage.com/how-to-qualify-for-usda-loan/

Do you want to improve your financial situation? Mortgage refinancing can be the best decision to improve your financial circumstances. If your mortgage loan has a higher rate of interest, refinancing will help lower the rate. Refinancing can improve your interest rate and can help you save a lot of money over the course of the loan term. You should always approach mortgage experts for advice on refinancing who will analyze your current financial situation and suggest the most suitable refinancing option for you that can stabilize your financial condition. This blog discusses valuable aspects of refinancing. To learn more, please visit our blog : Things You Need to Know About Refinancing .

A VA loan is the most popular loan program for veterans. There is no down payment or minimum credit score required for the VA loan. VA loans are provided by private lenders and backed by The U.S. Department of Veterans Affairs (VA). Choosing a veteran-friendly mortgage company will be beneficial for the veterans because they know the requirements of the veterans and will assist them throughout their VA loan process. There are numerous benefits of getting a VA loan from a veteran-friendly mortgage company. This blog provides valuable information about why you should choose a veteran-friendly mortgage company.  Read more- https://www.drewmortgage.com/veteran-friendly-mortgage-companies-ma/

It's vital to choose the right mortgage loan that best fits your financial situation. This will help you get funding without straining your finances. An adjustable rate mortgage and fixed rate mortgage are two popular mortgage loans. Choosing an adjustable rate mortgage may or may not work for you depending on your income, down payment, credit score, and the location of the home. If you won't be able to keep up with the adjusting rate, then an adjustable-rate mortgage loan is not for you. However, an adjustable-rate mortgage loan can help you save money and complete the loan term in a short period of time. When you calculate an ARM and an FRM with the help of a mortgage loan calculator, you may find ARM is cheaper than an FRM. This blog provides valuable information about When An Adjustable-rate mortgage Is A Smart Choice .