First Time Home Buyers!

Pat and Meg ClosedAttention First Time Home Buyers in the North Attleboro, Attleboro, Plainville, Wrentham, Foxboro and Mansfieldyear fixed rate loan is still below 5% (4.375% average today), interest rates are predicted to creep up the second half of 2014.

If you can afford to buy now, let’s find the home that home fits your lifestyle and budget.  This truly is a great time to make a move.  Your money is going buy more home now than when interest rates increase (as interest rates increase you pay more to the lending institution in interest each month which then decreases your buying power)

And, there are still some great affordable homes in North Attleboro, Attleboro, Plainville, Wrentham, Mansfield, and Foxboro areas if you are looking in the Southcoast area of Massachusetts.   Clients and I even found solid homes in the Metrowest area at an affordable price point.  They settled on a property in Ashland that needed some updating but nice layout, nice lot, and a really nice location – a few cans of paint and it is already looking like a whole new house.   The  best part … it is a house that they truly grow into and make their Home.

Contact a mortgage professional, let me know what you are looking for in a home, and then let’s have a look at the inventory.  Happy to pass along names of some of my trusted mortgage professionals.   Just give a call, text, or e-mail. Together we can put together a plan for buying your first home and make it happen!!    Jen

Jen McMorran, Realtor  508-930-5259    jen.mcmorran@verizon.net

What Is A Mortgage Rate?

A mortgage rate is the interest rate on your home loan. There are many factors that go into deciding what your interest rate will be when securing a mortgage including inflation, the Federal Reserve, the yield on the 10 year treasury note, your credit score and the mortgage company’s specific fees.

How is the Interest Rate Different from the Annual Percentage Rate (APR)?

The interest rate is the rate on the loan itself and does not take into account closing costs. The APR is the interest rate with the closing costs or closing credits accounted in it. The APR provides a more “apple-to-apples” comparison across loans, as long as the same types of costs are included in each home loan.

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