Get Your Mortgage Pre-Approval Early

Take the first step towards becoming a serious home buyer

Early in the home buying process (before you look at homes) it is important to consult a lender to evaluate your credit profile, get a sense for your true budget, and talk about loan options.

A mortgage pre-approval is proof that a lender is willing to make you a loan. With a pre-approval letter, real estate agents and sellers know you are a serious home buyer.

How to get pre-approved:

1. Before seeking pre-approval, you must first obtain your credit score and credit history report to spot any errors or potential issues. Your credit score affects your ability to qualify for different types of loans and receive favorable interest rates. Lenders will often work with borrowers with a low or moderately low credit score and suggest ways to improve or correct credit problems before applying for a mortgage.

2. Once you have pulled your credit score and have made any necessary improvements, you will then complete a mortgage application by supplying your lender with documentation that demonstrates your financial history and reliability, employment and personal information.

3. Typically the pre-approval process can take two to four weeks. From the data you provided, your lender will not only confirm your ability to qualify for a mortgage, but approve a specific loan amount and give you a better idea of the interest rate you will be charged on the loan. They will also give you a realistic understanding of the costs associated with buying a home so there are no surprises or disappointments. (Determine the maximum and minimum amount you can qualify for so you have the flexibility if you find your dream).

4. You will then receive a written conditional commitment for an exact loan amount, allowing you to begin looking for homes at or below that price level.

Bottom Line: A mortgage pre-approval letter proves that you already have backing and the ability to go through with the sale, which makes you a much more attractive buyer to sellers.

Joe Schutt

Committed to representing your interests with the highest level of integrity, I am dedicated to service excellence focused on personal attention and building a solid trust relationship. I listen carefully and make my clients feel comfortable in exploring their full range of real estate options and then encourage them to relax and rely on my expertise to insure that the details run smoothly and efficiently. Google+

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Get Ready For Spring

Spring Gardening in the City

Gardening may prove difficult in an environment that lacks traditional backyard space, but it can be done! There are many alternative garden design solutions to create your own urban oasis. Gardens come in a variety of shapes, sizes and applications in the city. From roof deck gardens to patios to flower boxes. Many unoccupied spaces above, around and even inside your home could be converted into a beautiful city garden retreat. The right plants and accessories can set the tone. You can tackle the gardening adventure yourself or hire one of Boston’s many floral and garden landscape experts.

Check out the photos below and more here for gardening inspiration, and portfolio work by local landscapers.

Joe Schutt

Committed to representing your interests with the highest level of integrity, I am dedicated to service excellence focused on personal attention and building a solid trust relationship. I listen carefully and make my clients feel comfortable in exploring their full range of real estate options and then encourage them to relax and rely on my expertise to insure that the details run smoothly and efficiently. Google+

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Residential Tax Exemption

How to File for a Residential Tax Exemption

Residential Tax ExemptionEvery taxpayer who owns residential property in the Greater Metro Boston area and has occupied the property as their primary residence as of January 1, 2016, may be eligible for a residential tax exemption for the current fiscal year. Qualified homeowners can benefit by having a portion of their property value exempt from taxation. To apply for a residential tax exemption fill out an application within three months of the date of your third quarter (January) tax bill.


To get you started we have pulled together the resources and application forms available to you as provided by your city of primary residence, below.

Once you file your application for approval, it can take up to three months for review. Filing an application for residential exemption does not mean you can postpone your tax payment – if approved you will be issued a credit later in the fiscal year. Keep in mind that each city works a little bit differently, so research your city below and call the assessor’s office with any questions.

Boston

Check here to see if you already have the residential exemption.
If you don’t, learn how to apply here.

Pro Tip: If you find the residential tax exemption for your property is already in place by the previous owner, do not submit any paperwork at this time or you may lose the exemption. Often times the exemption will carry over from the previous seller as it takes a while for the city to process. Once you qualify for the residential exemption as explained by the city be sure to file your application.

Brookline

Check here to see if you already have the residential exemption.
If you don’t, learn how to apply here.

2017 Rate: Residential Exemption Tax Savings $2,268.99

Cambridge

Check here to see if you already have the residential exemption.
If you don’t, learn how to apply here.

2017 Rate: Residential Exemption Tax Savings $2,045.59

Somerville

Call the assessor’s office at 617-625-6600, ext.3100 to see if you already have the residential exemption.
If you don’t, learn how to apply here or by visiting the assessor’s office page.

2017 Rate: Residential Exemption Tax Savings $2,747.11

Arlington

Arlington does not offer a residential exemption, however they offer a variety of exemptions to reduce property tax obligations for certain qualifying taxpayers. Find out if you belong to one of the qualifying groups, click here.

Call the assessor’s office if you think you are eligible, 781-316-3050.

Malden

Check here to see if you already have the residential exemption.
If you don’t, learn how to apply here.

2017 Rate: Not available at time of this blog post

Chelsea

Call the assessor’s office at 617-466-4010 to see if you already have the residential exemption.
If you don’t, learn how to apply here.

2017 Rate: Not available at time of this blog post

Waltham

Call the assessor’s office at 781-314-3200 or submit an information request to see if you already have the exemption.
Learn how to apply here and contact the assessor’s office.

2017 Rate: Residential Exemption Tax Savings $1,459.52

Watertown

The town’s assessor mails residential exemption applications each year in the fall to qualified property owners.
Learn more.
If you did not receive an application and believe you qualify please call the assessor’s office at 617-972-6410.

Nantucket

Check to see if you already have a residential exemption in place by calling the city assessor at 508-228-7200, ext.7037.
If you don’t, learn how to apply here.


*This is for informational purposes only. Please contact the appropriate city assessor’s office to get up to date information regarding the residential exemption available in your city.

Joe Schutt

Committed to representing your interests with the highest level of integrity, I am dedicated to service excellence focused on personal attention and building a solid trust relationship. I listen carefully and make my clients feel comfortable in exploring their full range of real estate options and then encourage them to relax and rely on my expertise to insure that the details run smoothly and efficiently. Google+

More Posts - Website

Follow Me:
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