Rent Or Buy In Boston?

If you are planning to rent or buy a Boston condo or any type of real estate in the Boston area, there are a few things you should know first. Boston is a medium size city with about 600 thousand people living in it. This population number doubles though during daytime as people living in the suburbs of Boston traveling to Boston to work. Of course there is always a tough decision when wanting to buy or rent a real estate. Extensive study of the market is needed to insure you get the best deal and you make the right choice whether you buy or rent. This choice is usually more difficult when it comes to condos. You have to be very cautious and shouldn’t rush your decision making. Either you rent or buy, you will be stuck with you’re decision for an extensive period of time. When wanting to rent or buy a condo in Boston you are advised to look at both of these options advantages and disadvantages. You can also use a rent or buy calculator to better understand your options. When it comes to whether you want to rent or buy a Boston condo you probably know that...

Reverse Mortgage Qualification

Reverse Mortgages are available to homeowners that are age 62 and older. All persons listed on the deed to the property must be at least age 62. The borrower must occupy the property as his/her primary residence and all existing liens must be paid off at the time of settlement. Thus, the proceeds of the reverse mortgage are available to pay off any outstanding mortgages against the property. As an additional safeguard, HUD requires that each potential reverse mortgage borrower be advised about the reverse mortgage program by an independent HUD-approved counseling agency. This counseling is free of charge to the borrower. Use our reverse mortgage calculator to determine the balance of a reverse mortgage loan.

Top 10 Home Loan Calculators

There are many mortgage calculators and real estate tools on the web today, but only a few are as useful to the average consumer. Here is a list in no significant order. 1. Simple Mortgage Calculator – This has to be the most popular calculator. It’s a very simple and basic calculator to figure out your monthly mortgage payments. 2. Amortization Calculator – Estimate your monthly payments and see an amortization schedule of your mortgage loan. It shows how much goes towards the principle and how much goes towards the interest. 3. Mortgage Qualification Calculator – See if your income can qualify you for the loan you desire. 4. Should I Rent or Buy Calculator – Compare the costs between renting versus buying your own home. 5. ARM Refinance Calculator – In recent years, many people have opted for this type of mortgage loan. Calculate to see if you should refinance that ARM loan that is about to expire or reset soon. 6. Biweekly Calculator 7. Interest Only Calculator 8. Prepayment or Invest Calculator 9. Rate Comparison Calculator 10. How Much Can I Borrow Calculator

Short Sale

A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes.

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