USDA loan available for 610 Charlton St., Southbridge Ma 01550

June 22nd, 2016

USDA loan available for 610 Charlton St., Southbridge Ma 01550. This is newsworthy, and I will explain why. 610 Charlton St., Southbridge Ma 01550 is an attached dwelling. It is considered a half duplex. There are no association fees so when you buy this home, you own it outright and there are no additional costs. It is also recorded as a condominium on the deed. This can be problematic for buyers looking to finance this home with FHA financing. This is why having an USDA loan available for 610 Charlton St., Southbridge Ma 01550 is such a big news.

Let’s start with what is a USDA loan:

USDA loans are mortgages backed the U.S. Department of Agriculture as part of its USDA Rural Development Guaranteed Housing Loan program. USDA loans are available to home buyers with below-average, offer 100% financing with reduced mortgage insurance premiums, and feature below-market mortgage rates.

This means that you can now put nothing down on a USDA financed loan for 610 Charlton St., Southbridge Ma 01550. You can build in your closing cost into the loan as well so there is very little out of pocket for you when you are considering an USDA loan for 610 Charlton St., Southbridge Ma 01550. The house is in move in condition so it will surely pass USDA appraisal.

Most lenders don’t offer the USDA loan so you need to talk to Kristen Walther from Norcom as she has done the legwork to make USDA loan available for 610 Charlton St., Southbridge Ma 01550.

Norcom NMLS
Kristen Walther | Branch Manager
Norcom Mortgage | NMLS #19396
71 Main Street (Rt 131) | Sturbridge, MA 01566
Phone: 774-241-0770
Fax: 855-347-7171
Licensed in: MA

“Using a USDA loan, buyers can finance 100% of a home’s purchase price while getting access to better-than-average mortgage rates. This is because USDA mortgage rates are discounted as compared to rates with other low-downpayment loans.” Kristen told me.

“The repayment schedule doesn’t feature a “balloon” or anything non-standard; the closing costs are ordinary; and, prepayment penalties never apply.

The two areas where USDA loans are different is with respect to loan type and downpayment amount.

With a USDA loan, you don’t have to make a downpayment; and you’re required to take a fixed rate loan. ARMs aren’t available via the USDA rural loan program.

Rural loans can be used by first-time buyers and repeat home buyers alike. Homeowner counseling is not required to use the USDA program.

USDA Loans Require Mortgage Insurance (MI)

The Rural Housing Loan program is a product of the U.S. Department of Agriculture.

The program partially self-funded. Similar to the Federal Housing Administration’s FHA mortgage, the USDA uses homeowner-paid mortgage insurance premiums to keep the USDA home loan program going.”

The USDA mortgage insurance rates are:

For purchases, 2.75% upfront fee paid at closing, based on the loan size
For refinances, 2.75% upfront fee paid at closing, based on the loan size
For all loans, 0.50% annual fee, based on the remaining principal balance
As a real-life example : A homebuyer with a $100,000 loan size in Blacksburg, Virginia, would be required to make a $2,750 upfront mortgage insurance premium payment at closing, plus a monthly $41.67 payment for mortgage insurance.

USDA upfront mortgage insurance is not paid as cash. It’s added to your loan balance for you.

Another reason why USDA loan available for 610 Charlton St., Southbridge Ma 01550 is that
USDA mortgage insurance rates are lower than those for comparable FHA loans or conventional ones.

FHA mortgage insurance premiums include a 1.75% upfront mortgage insurance premium, and 0.85% in MIP annually
Conventional loan private mortgage insurance (PMI) premiums — even via the 3%-down HomeReady™ program — can range above one percent annually
With USDA loans, then, mortgage insurance premiums are just a fraction of what you’d typically pay. Even better, USDA mortgage rates are low.

USDA mortgage rates are often the lowest among FHA mortgage rates, VA mortgage rates, and conventional loan mortgage rates — especially when buyers are making a small or minimum downpayment.

“USDA loan rates are often lower than comparable conventional 30-year fixed mortgage rates. Plus, because mortgage insurance rates are lower, with your small down payment, USDA loans can often be a better deal as compared to FHA loans or conventional loans.”Kristen told me.

With the USDA Rural Housing Program, your home must be located in a rural area. However, the USDA’s definition of “rural” is liberal. Many small towns meet the “rural” requirements of the agency, as do suburbs and exurbs of most major U.S. cities. And USDA loan available for 610 Charlton St., Southbridge Ma 01550

The website of the U.S. Department of Agriculture lists eligible USDA communities by census tract. You are required to provide a home’s exact address. The website will show whether that home meets program guidelines.

The USDA loan does not have a minimum score, per se, but 640 is generally regarded as a cutoff point. If your FICO is below 640, you should be prepared to explain why your credit score is below 640, and provide documentation.

In order to be eligible for many USDA loans, household income must meet certain guidelines.
‎Eligibility · ‎Income Eligibility · ‎Single-Family Housing · ‎Satellite Eligibility Rules

Now that you know a bit more about USDA loan available for 610 Charlton St., Southbridge Ma 01550, I would like to invite you to Public open house on Saturday, June 25, 2016 11:00 am to 1:00 pm at 610 Charlton St., Southbridge Ma 01550

610 Southbridge Street in Southbridge

610 Southbridge Street in Southbridge

610 Charlton Street in Southbridge

610 Charlton Street in Southbridge

610 Charlton Street in Southbridge

610 Charlton Street in Southbridge

SEE YOU THERE!

610 Charlton Street, Southbridge has a price reduction.

April 16th, 2016

610 Charlton Street, Southbridge has a price reduction because the owner says: sell my home! This is a well kept duplex (attached) home.

610 Southbridge Street in Southbridge

610 Southbridge Street in Southbridge

610 Charlton Street, Southbridge is a lovely move in Duplex. 610 Charlton Street in Southbridge is NOT a short sale or a foreclosure. Since it’s construction in 2003, it has been lovingly cared for. While sitting on your back deck, you will enjoy the peaceful vista of the large yard.

610 Charlton Street in Southbridge

610 Charlton Street in Southbridge


Come in to the home and walk through a functional floor plan: One car garage and a partially finished laundry room await you on the lower level. Main floor is an easy open floor concept when sunny living area moves into a dining room and into the kitchen.
610 Charlton Street, Southbridge

610 Charlton Street,Southbridge


There is even a half bath for your convenience.
610 Charlton Street, Southbridge

610 Charlton Street, Southbridge


Upstairs, the three large bedrooms are bright and sunny. Master suite has a walk in closet as well as access to the California full bath. Closet space abounds.
610 Charlton Street in Southbridge

610 Charlton Street, Southbridge


This home is a legal condominium and will not qualify for FHA financing. This is because only approved condominium complexes can get FHA backed financing. However, you can still do VA or Conventional financing and with a program that will allow you to put down 3% or a 5% down payment, your monthly expenses will be less than $1200. In some cases, this is less than renting. And if you purchase a home like 610 Charlton Street, Southbridge, you would be investing in your own home and building equity instead of paying your landlord’s mortgage. Looking for a condominium alternative? Since there are no association fees, this will make for an affordable home. Want a quick close? Just ask!

4 Ashburnham Street in Fitchburg is for sale, call to see it today!

April 12th, 2016

4 Ashburnham Street in Fitchburgis for sale but do you know why you should call to see it today?!

4 Ashburnham Street in Fitchburg

4 Ashburnham Street in Fitchburg

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This home at 4 Ashburnham Street in Fitchburg, has been a homestead, an in-home business, and even housed an extended family. For years, it has been lovingly maintained by the present owner. And now it’s time to find this home a new purpose. As an antique home in the center of Fitchburg, with easy access to highways and amenities, this property can once again take on a new role. Whether you want an in-home business or a large stately colonial, you can have many options at 4 Ashburnham Street in Fitchburg!

4 Ashburnham street in Fitchburg

4 Ashburnham street in Fitchburg


A detached 2 car garage is a rare find in this price range and a large yard is just an added bonus.
4 Ashburnham street in Fitchburg

4 Ashburnham street in Fitchburg


Large rooms filled with character and charm abound. Many of the sizable bedrooms have walk in closets and the separate in – law space can be a new home for your business.
4 Ashburnham street in Fitchburg

4 Ashburnham street in Fitchburg


At 4 Ashburnham Street in Fitchburg, The brick exterior and the granite window sills create a stately look for this large home in move in condition. Gorgeous oak and pine floors are a beauty to behold! Much has been done to maintain this home as it welcomes new owners with possibilities.

To give you just a taste of the benefits of seeing this home, I have added this virtual tour. Please take a look at 4 Ashburnham Street in Fitchburg as this home has so many possibilities that it would be a shame if you missed an opportunity to purchase this home or even take a look inside 4 Ashburnham Street in Fitchburg.

Condition deal breakers for loans: what you need to know.

April 5th, 2016

Are you aware that the home you’re buying might have condition deal breakers for your type of financing. You work with your agent to find just the right home, you apply for a loan and work with your lender and then the appraiser goes out to the property and you get condition deal breakers on your hands. What does that mean, you ask. It means that even if you qualify for a loan, your house might not.
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The strictest programs that have condition deal breakers, will be your government backed or insured loans. These loans include, but are not limited to FHA, VA, USDA, and even 203K streamlined loans.

When a buyer finances a home, there is a standard that needs to be met for all loans. Conventional financing is the most lenient. But when the government program is necessary, the regulations become more stringent on condition deal breakers.

Here is a list of most commonly missed repairs that can become condition deal breakers in a real estate transaction:
Peeling paint
Any signs of mold or mildew
All windows freely open or close
Missing electrical fixtures, switches/outlets and switch/outlet plates
Flooring that is in disrepair
Handrails, if there are more than three steps
Approximate remaining life of the roof (there should be at least two years)
Water stains on walls and ceillings
Missing bathroom fixtures and/or cabinet doors
Signs of termite damage
Missing screens on windows
Missing door knobs
Missing kitchen fixtures and/or cabinets
Exposed wiring
Missing gutters
Damage to the exterior of home including Soffi, fascia and siding
Utilities, must be turned on and checked for operation
Adequate caulking and watherstripping on doors and windows
Missing built in appliances
Dampness or water in basement
Hot water Heater – make sure it has a relief valve
Well/Septic system – does the inspection report state needed repairs?
Cracks in foundation – if cracks are present

This list is provided by Dan Woznicki, Senior loan officer at Mortgage Master. If you need to talk to a lender, please feel free to give him a call at 508-735-8767

And if you need real estate advice, please send me a message or call me direct at 508-922-9832

610 Charlton St., Southbridge, -new listing

March 22nd, 2016

New to market for the first time: 610 Charlton St., Southbridge. This half duplex in Southbridge is ready for new owners. Newer home boasts 3 full bedrooms and one and a half baths.

610 Charlton St., Southbridge

610 Charlton St., Southbridge

This lovely move in Duplex, at 610 Charlton St., Southbridge, is NOT a short sale or a foreclosure. Since the construction in 2003, it has been lovingly cared for. While sitting on your back deck, you will enjoy the peaceful vista of the large yard. Come in to the home and walk through a functional floor plan: One car garage and a partially finished laundry room await you on the lower level. Main floor is an easy open floor concept when sunny living area moves into a dining room and into the kitchen. There is even a half bath for your convenience. Upstairs, the three large bedrooms are bright and sunny. Master suite has a walk in closet as well as access to the California full bath. Closet space abounds. Looking for a condominium alternative? Since there are no association fees, this will make for an affordable home. Want a quick close? Just ask!

610 Charlton St., Southbridge

610 Charlton St., Southbridge

And if you would like to see a virtual tour of 610 Charlton St., Southbridge, click below:

124 Wildwood St in Worcester has an Open House

March 16th, 2016

124 Wildwood St in Worcester has just arrived on the market and ready for sale. We are inviting all to a public open house to be held on March 20th between 1-2:30pm

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124 Wildwood St. in Worcester is ready for new occupants! Have you been missing out on the best homes in your criteria and price point? Then hurry to see this attached, single family home with no association fees. If you have been looking for a great buy in Worcester with easy access to highways and amenities and a home in move condition than get to 124 Wildwood St in Worcester quickly! And the best time to see 124 Wildwood St in Worcester at the first open house. It’s this Sunday at 1:00.

Enjoy the outside from either of the two decks overlooking a huge yard. The lot is .32 of an acre so it’s much, much larger than the average single family home in Worceser. There is even a shed to accommodate your yard equipment. Open concept and easy floor plan will be great for your lifestyle and guests. Upstairs you will find your bedroom space and full bath, while the first floor is living area, eat in kitchen and a bath that hosts the washer and dryer to facilitate your life. Lower lever is finished for a “man cave”, a family room, an exercise room, a study or a combination. This home offers storage that houses twice the size do not have. Come see this dwelling before someone else makes it home!

St. Patricks day activities in Worcester County

March 7th, 2016

It’s 2016 and soon it will be that green holiday again. Luckily for you I am writing about all the St. Patricks day activities in Worcester County that you can enjoy. This year St. Patricks day falls on a Thursday but you can get to enjoy the activities for several days.

No St. Patricks day activities in Worcester County will be official without a parade. So, this year, the parade will kick off from the corner of Park and Mill in Worcester on Sunday, March 13,2016 at high noon! Congratulations to Maureen Binienda, Grand Marshal of the 2016 parade! Now you might want to arrive early and see Worcester County’s 34th Annual St. Patrick’s Day Parade Gr K-12. The girl scout parade starts at 10 am.

After your parade watching,you can partake in other St. Patricks day activities in Worcester County:

How about a visit to the local Irish pub? Mahoney’s is known for their beer garden. . College students flock here, and give Mahoney’s its best day of the year. You will find it very close to the parade at 413 Park Avenue.

If grilled food and all day long music is to your liking, check out Beatnik’s just a short walk away at 433 Park avenue. Doors open at 11:00 AM. and everyone’s welcome!

The Loft throws one of the biggest parties on Park Ave for parade day. They have a beer garden outside in front of Blue Jeans Pizza and allow a great parade view inside on their 2nd floor bar. They’re located at 266 Park avenue.

My favorite “eating hole” on the route is definitely Peppercorn’s. Not only do they have amazing selection of beer but their food is amazing! They are located at 455 Park Avenue.
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If you want to see what else is available to you for St. Patricks day activities in Worcester County and throughout Massachusetts, click here.

89 E. Hartford Ave., Uxbridge Ma has a new price

March 1st, 2016

89 E. Hartford Ave., Uxbridge Ma has a new price. Even though it has been on the market for only a short time, the seller wants to attract more qualified buyers. These buyers would not know they would love a place as much until they see 89 E. Hartford Ave., Uxbridge Ma under a new price. Unit 4 A is available for them and for you. And now with a new and improved price, you too can find out how an end unit in a small condominium complex can work for you.

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The best feature of this home is enormous rooms and easy floor plan. Come through a semi private porch entrance into a tiled vestibule with a closet. Hang up your coat and walk right in to a large living room. Pass the half bath with the washer and dryer and enjoy open concept European kitchen and dining room combinations. Snuggle up to the cozy pellet stove.

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Make your way upstairs and be pleasantly surprised by the size of the 2 cavernous bedrooms with a full bath in between. This bathroom is considered a California bath as there is a entrance from the master bedroom and the hallway.

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The lower level is ready for your finishing touches. Enjoy all this home has to offer and access to major metropolitan areas such as Rhode Island, Boston, Worcester and more. Live in the country with amenities of the city within easy drive.

The taxes are low and the association fees are incredibly affordable at only $191 a month. If you want to keep this unit as an investment, there are tenants who would stay or take possesion of this home for your family. The choice is yours! For private showing, please call Jane Becker at 508-922-9832.

89 E Hartford Ave. Unit 4A in Uxbridge is having an Open House

February 8th, 2016

New to Market: 89 E Hartford Ave Unit 4A in Uxbridge.
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You are invited to a public open house:
Saturday February 13, 2016 1-2:30 pm
@ 89 E Hartford Ave Unit 4A in Uxbridge
Priced @ $180,000
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Lovely end unit home @ 89 E Hartford Ave. Unit 4A in Uxbridge – open house! Set in the heart of Uxbridge with easy access to highways, parks and amenities, this small complex is well maintained and well loved. Here is an opportunity to own one of the largest units in the complex with lowest association fee. Featuring extra spacious bedrooms with plenty of natural light. You will also find Hollywood bath, full basement, central air, brand new pellet stove, many kitchen cabinets. New Stainless Steel appliances will convey with the home. Situated in an excellent location with easy commute to Worcester, Providence, and Boston. Tastefully decorated, this home is a modern gem. It can also be financed with an FHA loan program.
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And enjoy the virtual tour of 89 E Hartford Ave. Unit 4A in Uxbridge:

What are the buyer’s costs when buying a home.

February 8th, 2016

My clients and customers often ask me what are buyer’s costs when buying a home. So, today, we will address the costs of purchasing a home aside from the obvious, purchase price. When considering the real estate investment, it is important to understand the buyer’s costs when buying a property. The first step in the process is to go to a lender and get pre-qualified/ pre-approved to buy a home. The pre-qualification should not cost anything up front. When you are applying for a loan, there will be an application fee at that time. The application fee typically includes a credit check and an appraisal cost to the lender. So, the cost would run somewhere under $600.00.

The next step in the process is finding an agent who would represent the buyer’s interest. Because all real estate fees are included in the price of the home, buyers actually don’t pay any more for having their own representative. In the video below, we explain what types of real estate agents there are, how real estate agents get paid, and what Home Team AdvantEdge does in the process of buying a home. Feel free to ask your buyer agent questions based on this video.

The costs when buying a home is minimal until you find a property. You are just paying for gas. When you are ready to submit an offer, you will need to have a deposit check. The deposit check depends on your ability to come up with the funds. A typical deposit check is $1000.00. You might be able to put down $500 in certain situations. For example, if you are doing a no money down program, you might be able to put down less. Also, if you are putting an offer on a short sale property, $500 might be acceptable. After your inspections, you will sign a purchase and sale document. At that time, you put down the rest of your deposit. Typically, this deposit is the rest of your down payment. It is negotiable but needs to be a significant amount to show that you are serious buyer. Both deposit checks will be held until closing or until one of the parties wants to walk away from the transaction as it is stipulated in the offer. At closing, the two deposit checks will go towards the purchase price and you will bring (or finance) the balance.

After you have an accepted offer, there is the cost of inspections. This cost is partially subjective as it depends on what you want to test for. If you want a detailed water test, a radon test and the like, the cost will go up. Be prepared to spend $400 on average home inspection and up. The biggest expense will be for inspecting a distressed home. A distressed property is one that is either a short sale or a foreclosure. These homes have been abandoned, typically. The electricity and water have been shut off, gas or oil has been stopped. In order to do inspections on these types of homes, the buyer would most likely have to put the utilities in the buyer’s name. This would potentially be a cost. When the house is winterized, the buyer would need to have a plumber de-winterize the property and check for any leaks that may occur. There is a cost for having a plumber out to the house for hours. There will be a cost for fuel, gas or oil as well.

If you are interested in purchasing a distressed home, there are many advantages and disadvantages. You might be able to get a good deal but the cost of buying this home will most likely be more. Having a buyer agent is advantageous in this case, especially. Your buyer agent will negotiate the best possible outcome with these inspections and perhaps get the seller to de-winterize on your behalf.

If you are financing with a 203K loan, a rehabilitation loan, there might be a cost. You will need to gather estimates from licensed and insured professionals. Some professionals charge for these estimates. If you are purchasing a distressed home from a government organization such as HUD, Fannie Mae, Freddie Mac, there is a per diem charge if you do not close on time. This per diem can be as much as $25.00 per day or more.

The buyer’s costs when buying a home are plenty as the bank charges you the costs of getting the loan in addition to your other costs. At closing you will have “closing costs”. You will have an idea of these costs when you apply for your loan in what’s called “truth in lending statement”, which your lender is obligated to provide to you upon application. The costs average $3,000 to $6,000. If you are looking to get a better interest rate by paying points up front, you will have the cost of points which is 1 point equals to 1% of the loan. But don’t despair, your closing costs, including pre-paids such as escrow, can be included in the loan. You can agree with the seller to increase the amount of the purchase price by the closing cost and receive a closing cost credit to go toward these final costs.

If you have questions on what are the buyer’s costs when buying a home, feel free to ask me below or contact your lender or buyer agent.