Shawn Sullivan, Massachusetts Real Estate, Medford homes for sale, Somerville homes for sale


Obtaining a home loan is a must for most homebuyers. However, there is a lot to think about to ensure a homebuyer can secure a loan that matches or exceeds his or her expectations.

Some of the key questions to consider about a home loan include:

1. What is a home loan's interest rate?

It is paramount to understand a home loan's interest rate, along with any associated loan fees. That way, a homebuyer will know exactly how much he or she will be paying over the life of a home loan.

If a homebuyer chooses a fixed-rate mortgage, he or she can lock in an interest rate for the duration of a home loan. This means a homebuyer will pay the same amount each month. And in many instances, a fixed-rate mortgage can be paid off early without penalty.

On the other hand, a homebuyer may prefer an adjustable-rate mortgage. With this type of mortgage, a homebuyer may receive a lower interest rate initially that rises after a set period of time.

Compare and contrast the different home loan options and their associated interest rates. By doing so, a homebuyer can make an informed home loan decision, one that serves him or her well both now and in the future.

2. Does a home loan require a minimum down payment?

Ask a lender about whether there is a minimum down payment required as part of a home loan agreement. Typically, a homebuyer will need to pay at least a small portion of a home's price to secure a home loan, and it certainly helps to have this information available before you start evaluating available residences.

In addition, it may be worthwhile to save as much money as possible prior to starting a home search. With money at your disposal, you may be better equipped than ever before to make a large down payment, thereby reducing the amount that you'll need for a home loan. Plus, you may even be able to boost your chances of getting a favorable home loan interest rate.

3. Will I need to provide legal documents to obtain a home loan?

Lenders will require you to provide proof of your income and assets, W-2 statements and other legal documents to finalize a home loan agreement. If you stay organized and have these documents readily available, you should have no trouble providing them to a lender as needed.

Overall, the home loan application process may vary from several weeks to many months. The time it takes to secure a home loan can be stressful, and if you need extra help along the way, it never hurts to reach out to a real estate agent.

With a real estate agent at your side, you can streamline the process of buying your dream home. This housing market professional can offer expert tips throughout the homebuying journey and ensure you can discover a great house at an affordable price.

Take the guesswork out of securing a home loan – consider the aforementioned questions, and you can move one step closer to getting the financing you need to obtain your ideal residence.


This Condo in Malden, MA recently sold for $325,000. This Mid-Rise style home was sold by Shawn Sullivan, Broker Associate, CRS - RE/MAX Andrew Realty Services.


20-30 Daniels Street, Malden, MA 02148

Condo

$299,000
Price
$325,000
Sale Price

3
Rooms
1
Beds
1
Baths
This stylish, efficiently laid out one bedroom unit leaves no space wasted. It offers a generous bedroom comfortably fit a king size bed, a beautiful kitchen with ample storage space, a large breakfast bar, granite counters, maple cabinets and stainless steel appliances. Newly installed recessed lighting, freshly painted throughout, newly reglazed bathtub as well as new baseboard and wood floors, complete with rarely available in-unit laundry. The professional managed complex is pet-friendly and has a fitness center, outdoor pool, barbecue area, elevators, walking path, dog waste station, and a state of the art new security system and FOB entry system. 1 deeded parking spot included and sufficient guest parking space. HOA also includes heat, A/C, hot water and snow removal. There is easy access to downtown Boston, Malden T Station, Malden Center, Route 1 and Route 93. Welcome home and enjoy! First showings at Open houses this Saturday and Sunday from 11:00-1:00PM

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Ready to sell your condo? Ultimately, listing a condo can be simple, particularly for condo sellers who plan ahead.

Now, let's take a look at three questions that condo owners need to consider before listing their properties.

1. What do I need to do to sell my condo?

Condo rules and regulations vary. As such, you should consult with your homeowners' association (HOA) to find out if there are any requirements related to selling your condo.

For example, an HOA may require a new property buyer to receive HOA board approval to purchase a condo in a particular community. Or, if you have outstanding condo fees, you probably will need to pay off these charges before you can sell your property.

2. How much is my condo worth?

Although your condo community likely hires landscapers to help keep your property looking great, it is important to understand that a condo's interior plays an important role in the property's value. Thus, you should allocate the necessary time and resources to upgrade your condo's interior. This will enable you to improve your condo's interior and help it stand out to property buyers, thereby increasing the likelihood of a quick condo sale.

In addition, completing a property appraisal usually is an excellent idea. A property appraiser will inspect your condo and evaluate various housing market data to help you pinpoint the value of your residence. Then, you can obtain a property valuation that can help you establish a competitive price for your condo.

3. Do I need to hire a real estate agent?

When it comes to selling a condo, it often pays to hire a real estate agent. However, it is important to note that no two real estate agents are identical, and you should try to find a real estate agent who possesses extensive condo selling expertise.

Let's face it – a condo is very different from a house. A condo owner does not have to worry about property exterior maintenance in the same way that a homeowner does. Conversely, a condo owner must follow HOA requirements; otherwise, this property owner may face steep penalties.

A real estate agent with condo selling expertise understands the pros and cons of owning a condo. Therefore, this housing market professional knows how to work with condo sellers and ensure these individuals can achieve their desired results.

Typically, a real estate agent will meet with a condo owner and learn about his or her property selling goals. After the meeting, a real estate agent will help a condo owner map out a successful condo selling journey.

Perhaps best of all, a real estate agent with condo selling expertise is ready to respond to a property seller's concerns and questions. This housing market professional also will go above and beyond the call of duty to exceed a condo seller's expectations.

Take the guesswork out of selling your condo – consider the aforementioned questions, and you can speed up the property selling process.


This Condo in Dracut, MA recently sold for $349,900. This Townhouse style home was sold by Shawn Sullivan, Broker Associate, CRS - RE/MAX Andrew Realty Services.


25 Skyline Drive, Dracut, MA 01826

Condo

$349,900
Price
$349,900
Sale Price

5
Rooms
3
Beds
1/1
Full/Half Baths
Only 1 Unit Left! Welcome Home to Blue Spruce Condominiums. These NEW CONSTRUCTION, Architecturally designed 3 Bedroom Condex Townhomes are situated on a large lot in a Commuter Friendly Location. The properties are a must-see featuring a Modern Open-Floor Plan, lots of Natural Light, and are offered with all the Upgrades and Amenities you've wished for including a Beautiful Kitchen with Granite Tops and SS Appliances, Hardwood and Tile Flooring, Central A/C, Sleek and Sexy Gas Fireplace, Private 2 Car Garage, Deck and more...These are Beautiful Homes, So put them at the Top of your List and schedule your visit today to make this prime opportunity yours.




This Single-Family in Andover, MA recently sold for $530,000. This Ranch style home was sold by Shawn Sullivan, Broker Associate, CRS - RE/MAX Andrew Realty Services.


7 Marion Ave, Andover, MA 01810

Single-Family

$529,900
Price
$530,000
Sale Price

6
Rooms
2
Beds
1/1
Full/Half Baths
Don't wait on this gem as it will not last! Come see this tastefully RENOVATED home in one of the most desirable neighborhoods in Andover. Walk to all the in-town amenities Andover has to offer including shops and restaurants. Beautifully situated on a large lot on a great street. NEW UPDATES include Kitchen renovation in 2015, half bath renovated in 2015, full bath renovated in 2015, converted breezeway to a heated entry mudroom and office, replaced front and back doors as well as all interior doors, NEW Hot Water Heater in 2015, fresh paint and NEW garage door and opener. This home offers a beautiful open floor plan and is ready for its next chapter!

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