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Posted by New Age Real Estate on 8/18/2018

This Single-Family in Tewksbury, MA recently sold for $456,000. This Raised Ranch style home was sold by - New Age Real Estate.


50 Driftwood Drive, Tewksbury, MA 01876

Single-Family

$459,900
Price
$456,000
Sale Price

8
Rooms
3
Beds
2
Baths
WELCOME HOME! BEAUTY, WARMTH, & VALUE! describe this tastefully well maintained raised ranch located in ever popular TEWKSBURY. Excellent opportunity to own this 3 bedroom, 2 bathroom, spacious home which sits on 1.0 plus acre of land in a country setting at the end of the cul de sac. Perfect for outdoor entertainment in your inground pool and lots of privacy. The interior offers the benefits of defined living space while maintaining a nice flow throughout the property. Updated kitchen, dining area with access to 15X14 Sunroom and deck. Freshly painted interior in warm neutral tones. Finished fireplace family room with wet bar & 3/4 bath. Conveniently located close to RTE 93, shopping, schools, and the Wilmington, and Billerica commuter rails. A home in this condition and location does not come on the market often so do not delay. Worth a visit for sure.

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Categories: Sold Homes  


Posted by New Age Real Estate on 8/17/2018

Applying for a mortgage can be a lengthy and difficult process. Lenders want to know that they are going to get a return on their investment.

To ensure that they’ll see that positive return they will take a number of things into consideration, such as your income, credit score, employment history, and financial capital.

First-time homeowners often struggle when it comes to these prerequisites since they have fewer years of numbers for lenders to consider. If you’re one of those people, don’t worry--you can still purchase a home.

First-time homeowner loans, which are guaranteed by the U.S. government, and a number of private loans enable people to borrow money for a home without paying a huge down payment or having a vast credit history.

One downfall of said loans is private mortgage insurance, or “PMI.”

In this article, we’re going to talk about what private mortgage insurance is, how to avoid it, and how to get rid of it. 

What is PMI?

If you make a down payment on a mortgage that is less than 20% of the loan amount, you will most likely have to pay private mortgage insurance.

PMI exists as a way for lenders to help guarantee they won’t lose money off of your loan. If you make a down payment of 20% or more, then lenders are typically satisfied that they won’t lose money from doing business with you.

PMI is not to be confused with home insurance, which protects you against damage and theft. Rather, it is an additional fee you’ll pay to your lender each month that is added to your mortgage payment.

PMI is calculated based on a few considerations. Lenders will take into account your down payment amount, the value of the mortgage, and your credit score.

In terms of costs, PMI typically costs between .5 and 1% of the total mortgage amount each year.

Avoiding PMI

Naturally, it’s best to avoid paying private mortgage insurance altogether. Private mortgage insurance has no future value for you and your family since it doesn’t count towards building equity and doesn’t protect you from any potential financial harm (your lender is the sole beneficiary of PMI).

Saving for a down payment can take time, and sometimes you’ll need to rent or cut costs while you save. However, if you do take on a loan with PMI, you can still cancel it at a later point.

Canceling your private mortgage insurance

The first thing you should know about canceling PMI is that it usually isn’t easy. You’ll need pay off at least 20% of the home, write a letter to your lender, and wait for an appraisal of the home. Once you’ve done this, you still have to wait while your lender considers your request. In all, this process could take months--months that you’re still required to pay PMI.

Once common way to get out of PMI is to refinance. If the value of your home has increased since the time of you taking on the loan, the new lender likely won’t require PMI. However, you’ll want to make sure that refinancing will get you a lower interest rate and cover the costs of refinancing. 




Categories: Uncategorized  


Posted by New Age Real Estate on 8/16/2018

This Condo in Tewksbury, MA recently sold for $295,000. This Townhouse style home was sold by - New Age Real Estate.


60 Apache Way, Tewksbury, MA 01876

Condo

$295,000
Price
$295,000
Sale Price

5
Rooms
2
Beds
1/1
Full/Half Baths
Your chance to own an end unit townhouse in sought after Indian Ridge. New windows, New furnace, New garage door, Large master bedroom with two closets, one closet is a walk in closet. Loft off second bedroom with ceiling fan. Newer carpet on stairways. Maintenance free laminate flooring throughout rest of home. Fireplace living room with slider to large deck with storage unit. Central Air. Kitchen and both baths are in very good condition. Laundry area. One car garage, ADT security system available. Pull down attic for storage.

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Tags: Real Estate   Condo   Tewksbury   01876  
Categories: Sold Homes  


Posted by New Age Real Estate on 8/12/2018


27 Lawson Farm Road Street, Londonderry, NH 03053

Single-Family

$389,900
Price

4
Bedrooms
8
Rooms
2/1
Full/Half Baths
Open House
No scheduled Open Houses






Categories: Price Change  


Posted by New Age Real Estate on 8/11/2018


27 Lawson Farm Road Street, Londonderry, NH 03053

Single-Family

$389,900
Price

4
Bedrooms
8
Rooms
2/1
Full/Half Baths
Open House
No scheduled Open Houses






Categories: New Homes