Buyer FAQs

A: 5% down payment is the standard on a Purchase and Sale Agreement.

A: Yes, a home inspection is very important to determine if a home has any undisclosed problems that were not noticed in the initial walk through.

A: Linking up with an Anne Whiting Real Estate agent will give you visibility to all homes the second they hit the market by linking you to MLS. They will also notify you of homes that haven’t hit the market yet so you are the first to know.

A: About 40 days from when you find a property to the end due to the home inspection and a 30 period of processing your loan.

A: A Mass Housing Loan will benefit a low income first time home buyer because it has a reduced PMI. If you lose your job it will cover up to 6 months of your loan. 3% down is mandatory for this program providing you qualify.

A: You must if you do not put 20% down.

A: The borrower must bring the difference plus their down payment, or the seller will have to reduce their purchase price.

A: Depending on which loan you qualify will determine what your down payment is.

A: PMI stands for Private Mortage Insurance and it is just that…you might be required to pay for if you have a conventional loan. This mortgage insurance provides the lender insurance in case your home goes into foreclosure.

A: This can affect your affordability. It is always important to get pre-qualified due to the fact that the lender goes by your monthly payments rather than your overall debt.

A: Interest rates change daily and in order to lock in an interest rate you need to get pre-qualified and have an existing offer on a property. To get this information you should speak to a lender to get the most up to date daily rate.

A: No, unless you are doing a rehab loan.