Posted by Amanda Bruen on 11/21/2017

When you get pre-approved for a mortgage, you may be excited to find out that you can afford a lot more house than you thought you could. Donít be so fast, this is just what you can get a loan for. The bank doesnít know a lot of factors about your finances. While you most likely had to provide a ton of income verification statements and information in order to get this ballpark figure, relying solely on the pre-approval number can put you in a bind when it comes to your finances. Your lender doesnít know certain things like how much you spend on groceries or how much your cell phone bill is each month. 


What Lenders Consider


Lenders look at the health of your credit history, how much income you have and how much debt you have. These are the big factors that tell your lender about how much house you can afford. Yet, your home lender is not your financial advisor and canít help you with household expenses and the like. When thinking about what price range of home you really can afford, consider these factors beyond the bank:


Your Monthly Budget


Your spending habits will ultimately affect your ability to pay the monthly mortgage bill. If youíre spending all of your disposable income, then you may not be able to afford much at all beyond what youíre already paying for rent. You donít want to stretch your finances so thin that you wonít be able to afford food! 


Owning A Home Requires Additional Costs


Lenders do factor into their number the cost of homeownerís insurance and property taxes, but donít consider other things like utility bills, trash pickup and home repairs. All this can certainly add up when youíre a homeowner! 


Your Savings Is Nonexistent


If youíre unable to save any money at all if youíre a homeowner, then youíll be in trouble. You need money stashed away in case of unemployment or an emergency. You also may be planning for things like retirement and future costs like childrenís education. For the initial purchase of a home, youíll need upfront payments available for the down payment and closing costs. However, youíll need some more savings beyond that for everything that life brings your way!  


You Have Big Plans


Are you thinking of quitting your job and heading out to start your own business? Now may not be the best time to buy a new house. These changes could have a huge impact on your finances and leave you unable to pay your mortgage. Your lender wonít be asking about these plans, so youíll need to know what the future holds (for the most part ) in order to keep your own finances secure. 


The bottom line is that anything that could leave you financially stressed is not a good idea. Considering that buying a home is one of the biggest purchases you'll ever make, you want to be sure that you keep your finances in check during the purchase process.  




Tags: budgeting   Mortgage   loans  
Categories: Uncategorized  


Posted by Amanda Bruen on 11/18/2017


7 Clooney Terrace, Peabody, MA 01960

West Peabody

Single-Family

$729,000
Price

11
Rooms
4
Beds
3/1
Full/Half Baths
Impressive West Peabody Home! Tucked away at the end of a quiet cul-de-sac, perfectly positioned in an exclusive and highly sought-after pocket of West Peabody, lies this impressive 4 bedroom, 3.5 bath home. With over 3950 square feet of space, there is an abundance of room to entertain family and friends inside and out! Enjoy a quiet night in watching a movie in your very own home entertainment area, take a dip in the sparkling in-ground pool, or relax and unwind after a busy day in the outdoor hot tub! Entertaining is a breeze with a generous size deck with outdoor cooking area, and a gourmet kitchen featuring stunning granite counter tops, plenty of counter space and quality stainless steel appliances. With a 2 car garage , finished basement and an extra shed Ė there are plenty of storage options in this versatile home. Surrounded by other quality homes with fully established, landscaped gardens, this residence has beautiful curbside appeal that you will be proud to call home
Open House
No scheduled Open Houses

Similar Properties





Categories: Price Change  


Posted by Amanda Bruen on 11/17/2017

This Single-Family in Newton, NH recently sold for $525,000. This Ranch style home was sold by Amanda Bruen - KELLER WILLIAMS REALTY.


4 Zoe Ln, Newton, NH 03858

Single-Family

$565,000
Price
$525,000
Sale Price

10
Rooms
4
Beds
5/1
Full/Half Baths
Exquisite Custom Built Multi Level Ranch with 4+ Bedrooms and 5.5 Baths! Open Concept with Top of the line upgrades. Gourmet Kitchen, Stainless Steel Appliances, Granite counter tops, Double Wall Oven, Sub Zero Fridge. Full Service Wet bar complete with icemaker, Fireplace Living room with all custom Lighting throughout, 60 inch TV With Stereo Surround Sound, Master Bedroom with his and her walk in closets with custom built ins. Upstairs Bonus rooms and suites are completely finished. Lower level basement is also finished with custom steel beams for optimal space and full bath! Full Irrigation System, Drywell for water softener, Alarm System, Whole House 17k Generator with auto Transfer switch, 2 Car Garage. What more could you ask for, how about "an In ground Salt Water Pool" with stamped Concrete, Custom Rails & fencing. This Home has it All! Perfect location, 20 min to Newburyport & Salisbury Beach, 10 miles to Philips Exeter Academy, 45 Min to Boston. Pre Qualified Buyers only.






Categories: Sold Homes  


Posted by Amanda Bruen on 11/17/2017

This Single-Family in Newton, NH recently sold for $525,000. This Ranch style home was sold by Amanda Bruen - KELLER WILLIAMS REALTY.


4 Zoe Lane, Newton, NH 03858

Single-Family

$565,000
Price
$525,000
Sale Price

4
Bedrooms
10
Rooms
5/1
Full/Half Baths
Exquisite Custom Built Multi Level Ranch with 4+ Bedrooms and 5.5 Baths! Open Concept with Top of the line upgrades. Gourmet Kitchen, Stainless Steel Appliances, Granite counter tops, Double Wall Oven. Full Service Wet bar complete with icemaker, Fireplace Living room with all custom Lighting throughout, 60 inch TV With Stereo Surround Sound, Master Bedroom with his and her walk in closets with custom built ins. Upstairs Bonus rooms and suites are completely finished. Lower level basement is also finished with custom steel beams for optimal space and full bath! Full Irrigation System, Drywell for water softener, Alarm System, Whole House 17k Generator with auto Transfer switch, 2 Car Garage. "Potential In-Law Apt", In-ground Salt Water Pool with stamped Concrete, Custom Rails & fencing. This Home has it All! Perfect location, 20 min to Newburyport & Salisbury Beach, 10 miles to Philips Exeter Academy, 45 Min to Boston. Serious Inquiries Only.






Categories: Sold Homes  


Posted by Amanda Bruen on 11/14/2017


26 Porter, Haverhill, MA 01832

Single-Family

$215,000
Price

6
Rooms
3
Beds
1/1
Full/Half Baths
Find yourself in the comfort and quality of this beautiful 3 bedroom, 117SqFt Colonial home with private driveway. Highlighting hardwood flooring and warm natural light, this inviting family home offers ample space for the everyone including living room with bay window, formal dining room, first floor master with 3/4 bath, main floor laundry and highly functional cook's kitchen. The fenced in yard and garden area make a perfect place to entertain or just relax. Welcome home! .Conveniently located near route 495, public transportation and shopping.
Open House
No scheduled Open Houses

Similar Properties





Categories: Price Change  




Tags