NEW LISTING IN GLOUCESTER 4 STANWOOD POINT, GLOUCESTER

A BOAT LOVER’S DREAM! Docks and Moorings available. PHASE 3 OF STANWOOD POINT DEVELOPMENT HAS BEGUN! Two more townhouses to be built. Starting at $799,900. get in now to start customizing your dream home on the water where the Little River meets the Annisquam. All details listed in link below. Call now to schedule a showing at 5 Stanwood Point, Unit B still for sale at $899,900. This unit will be shown as a model unit until it is sold. Don’t miss out on this great opportunity.

Charleen McCarthy, Coldwell Banker  978-729-1239  charleen.mccarthy@nemoves.com

https://h3o.mlspin.com/MLS.Reports/ListingDetails.aspx

 

 

Mortgage Rates Continue to Drop

Daily Mortgage Rates

If you were a home shopper, or wanted to refinance your home this fall, you were probably in for sticker shock.  Not at higher home prices, but higher home-mortgage rates.  Mortgage rates through December rose to the upper 4’s and lower 5’s.  Combine that with escalating home prices, and some people all of a sudden got priced out of the market.

The good news in 2019 is we may have stabilizing mortgage rates.  The Fed announced last month they may be easing the rate hikes they had planned for 2019.  In 2018, the Fed had 4 increases to the benchmark lending rate.  On January 17, 2019, the Fed said they are going to be more careful of rate hikes in 2019 as to not to interfere with the economic growth the country has been experiencing.

All of this means that consumers, at the moment, have a brief interest rate respite as rates are lower than they’ve been in months.  In addition, home equity has never been higher in recent years.  These two positive events mean that if you were thinking of buying a home, but was put off in the fall, now is the time to get that preapproval updated and start looking again.

If you were thinking about refinancing, now may be that time to do it.  Taxes are going to be due soon, so that paperwork a mortgage person will be asking for should be handy.  Christmas bills are rolling in, and we can help consolidate that debt to make your budget friendlier.  You can also tap some equity to do some home projects you were thinking about doing.  The great thing with lower rates, it may not cost you anything to refinance and even lower your bills.

There is no reason to wait to for higher rates and home prices.

This is the time to get the lowest rates in months.  Contact me today for a free consultation to see how you easy it is for you to buy or refinance a home.

Brandon Pratt- CrossCountry Mortgage Gloucester, MA- 180 Main Street, Suite A

brandon.pratt@myccmortgage.com and or for an easy online application,

Click on www.northshorehomeloans.com and Apply Now.

Pratt Sign

Create Space

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Moving away from your family is a right of passage when you turn 18, but as an adult it can feel more like a loss. For many of us, we rely on our families for comfort and support. Our relationships are strengthened and defined by the day to day interactions and the yearly holidays are a bonus. However, when you no longer live a 5 minute drive from your core family members, things can change a bit. Having room in your new home to host your family can make all the difference.  Create space, and fill it with love so that your family is never far away.

See More: https://www.grandbanksbp.com/blogs/blog/create-space

WEEKEND OPEN HOUSES 5 STANWOOD POINT UNIT B, $899,900

COME AND ENJOY THE VIEW THIS WEEKEND AT BACK TO BACK OPEN HOUSES.

SATURDAY, FEB. 9, 2019 FROM 12:00PM – 2:00PM

SUNDAY, FEB. 10, 2019 FROM 12:00PM – 2:00PM

THIS IS A BEAUTIFUL TOWNHOUSE WAITING FOR YOU TO MAKE IT YOUR HOME!!!

IF YOU ARE NOT READY TO MOVE YET, OR IT IS A BIT TOO HIGH FOR YOU, COME AND TALK TO ME TO DISCUSS THE NEXT PHASE AND OPPORTUNITY TO OWN ONE OF THE NEXT TWO TOWNHOUSES IN PHASE 3.

IF YOU ARE A BROKER, CALL ME TODAY TO TALK ABOUT AN ADDED INCENTIVE FROM THE SELLER!!!!

Flyer OH Feb. 9 and 10

Salem News Online Ad

SATURDAY OPEN HOUSE 2/2/19 12-2PM

https://charleenmccarthy.cbintouch.com/media/id/16065120/

https://www.tourfactory.com/idxr2117645

Flyer OH Feb 2

COME TOUR THIS BEAUTIFUL TOWNHOME WITH ME ON SAT., 2/2/19 FROM 12-2PM. MAKE AN OFFER SO THIS CAN BE YOURS TO ENJOY ONCE SPRING ARRIVES AND YOU CAN SEE FOR YOURSELF HOW TRULY WONDERFUL IT IS TO LIVE ON THE WATERFRONT IN GLOUCESTER.  MAKE 5 STANWOOD POINT, UNIT B YOUR “HOME SWEET HOME”

sea beach sand water

Photo by Pineapple Supply Co. on Pexels.com

Letting in the Light

IMG_1029.jpgIt’s no secret, that as New Englanders, we are innately deprived of vitamin D in the winter. We don’t get as much sun as some places in the world, and we get more than others. It’s a middle ground. Which means we have a responsibility to take advantage of the sun we do get.

If absence makes the heart grow fonder, then these long months help grow our love for the sun exponentially. Our lack of vitamin D and sunshine is precisely what inspires our love for sunlight. Especially in the cold dark depths of winter. It’s helps us appreciate what we have, while we have it.

See more: https://www.grandbanksbp.com/blogs/blog/letting-in-the-light

Down payment Assistance is Here

One of the biggest obstacles people face purchasing a new home is the down payment.  It’s not that people can’t save, it’s the amount they need to save to buy a home here in Eastern Massachusetts.  Prices are high, and therefore the down payments tend to be higher because down payments are a percentage of the home price.

Most people think that you need 20% to purchase a home, but that couldn’t be furthest from the truth.  In fact, most mortgages require as little as a 3-3.5% down payment.  The more you put down, the better the terms.  5% is better than 3%, 10% is better than 5%, and so on.  So that’s why you hear about 20% down being required, because that’s when it’s the best terms.  However, if everyone waited for 20% down, we would not have over 60% of the population homeowners.  It’s just not realistic.

What I want to share is that we at CrossCountry Mortgage on Main Street in Gloucester has a few programs that offer no money down mortgages!  It’s usually a combo of a first and second mortgage.  The first mortgage being the mortgage after down payment, and the second mortgage being the down payment amount.  In Gloucester (and some North Shore cities and towns), the City has down payment assistance but the income limits are fairly low.  Therefore they are not easy to get.  That means a couple who want to buy a home with down payment assistance from Gloucester cannot make more $64,900 combined.  For Masshousing, Fannie Mae and Freddie Mac loans, the income expands to just under $108k.  This is for anyone on the loan….so if a couple combined makes more than $108k, then one person can go on the loan if they qualify by themselves.

The great news is that here at CrossCountry Mortgage on Main Street in Gloucester we have all of these programs!  We can do the state Masshousing mortgage, the national programs through Fannie Mae and Freddie Mac and of course, the City of Gloucester grant.

Below is an example of a condo for sale in Gloucester under $300k that qualifies for down payment assistance.

Contact me today for a no hassle and free consultation to see if you qualify!

Brandon Pratt- CrossCountry Mortgage

NMLS 46922- brandon.pratt@myccmortgage.com

Direct 617.688.6891

Pratt Sign

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