Posted by Northeast Signature Properties, LLC on 5/14/2018

Itís hard to overstate the importance of credit scores when it comes to buying a home. Along with your down payment, your credit score is a deciding factor of getting approved and securing a low interest rate.

Credit can be complicated. And, if you want to buy a home in the near future, it can seem daunting to try and increase your score while saving for a down payment.

However, it is possible to significantly increase your score in the months leading up to applying for a loan.

In todayís post, weíre going to talk about some ways to give your credit score a quick boost so that you can secure the best rate on your mortgage.

Should I focus on increasing my score or save for a down payment?

If youíre planning on buying a home, you might be faced with a difficult decision: to pay off old debt or to save a larger down payment.

As a general rule, itís better to pay off smaller loans and debt before taking out larger loans. If you have multiple loans that youíre paying off that are around the same balance, focus on whichever one has the highest interest rate.

If you have low-interest loans that you can easily afford to continue paying while you save, then itís often worth saving more for a down payment.

Remember that if you are able to save up 20% of your mortgage, youíll be able to avoid paying PMI (private mortgage insurance). This will save you quite a bit over the span of your loan.

Starting with no credit

If youíve avoided loans and credit cards thus far in your life but want to save for a home, you might run into the issue of not having a credit history.

To confront this issue, itís often a good idea to open a credit card that has good rewards and use it for your everyday expenses like groceries. Then, set up the card to auto-pay the balance in full each month to avoid paying interest.

This method allows you to save money (youíd have to buy groceries and gas anyway) while building credit.

Correct credit report errors

Each of the main credit bureaus will have a slightly different method for calculating your credit score. Their information can also vary.

Each year, youíre entitled to one free report from each of the main bureaus. Take advantage of these free reports. Theyíre different from free credit checks that you can get from websites like Credit Karma because theyíre much more detailed.

Go through the report line by line and make sure there arenít any accounts you donít recognize. It is not uncommon for people to find out that a scammer or even a family member has taken out a line of credit in their name.

Avoid opening several new accounts

Our final tip for boosting your credit score is to avoid opening up multiple accounts in the 6 months leading up to your mortgage application.

Opening multiple accounts is a red flag to lenders. It can show that you might be in a time of financial hardship and can temporarily lower your score.

Posted by Northeast Signature Properties, LLC on 5/8/2018

You will not want to miss this beautiful young spacious townhome in move-in condition that is set back from the road in desirable Wrentham. This home has the feel of a single family from inside with its open floor plan on the main level. Enjoy cooking in the large updated kitchen highlighted with hardwood flooring, stainless steel appliances and granite countertops. Entertain in the formal dining room which is adorned with hardwood flooring, wainscoting and chair rail and is open to the generous size living room with slider leading to the wood deck. Relax in the large master suite with two walk-in closets and a master bathroom. Two good size bedrooms and a family bathroom complete the upper level. The basement houses a storage/utility room plus a two car garage which is a rare find! Other amenities include laundry on the main floor just off of the foyer in the half bathroom, central vacuum, low condo fees and a convenient location! Call for a private showing!

More Info on this Property | New Listing Alerts

Posted by Northeast Signature Properties, LLC on 5/8/2018

New to Market!! A part of Millis history - this 4 Bedroom 2.5 bath Village Colonial with lots of updates. Located in the heart of Millis - offering an open floorplan combining tradition with a modern edge. Updates include Roof 2017, Kitchen countertops and flooring, stainless appliances, and electrical. The Kitchen w/granite countertops and stainless appliances features island seating and new flooring.Southern pine floors in the fireplaced Family Room w/slider to back deck overlooking level yard for summer fun! Formal Dining Room with gas fireplace opens to formal Living Room with gleaming wood floors. Master w/fireplace and full bath. 3 additonal bedrooms upstairs with guest bath. Walkout basement w/bonus room perfect for in-home office or play space w/a separate recent chimney flu and natural gas available at the hearth location. Cute entry enclosed sun porch. Updated windows throughout. Town Water/Sewer. Enjoy all Millis has to offer-close proximity to commuter rail & major routes!

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Posted by Northeast Signature Properties, LLC on 5/8/2018

The Amenities Abound in this Gorgeous Colonial in a Desirable Neighborhood. Gourmet Kitchen with top of the line Wolf, Sub Zero, Miele & Fisher Paykel appliances featuring Two Dishwashers, Natural Gas Cook Top, Second Prep Sink, Center Island, Breakfast Bar and Eat in Kitchen. The Cathedral Ceiling Family Room with Gas Fireplace. Formal Dining Room adorned with Coffered Ceiling is built for entertaining. Elegant details add wonder to this home with the Living Room Glass French Doors, Grand stunning open Foyer & Beautiful Staircase. The second floor features a Master Bedroom Retreat with Soaking Tub, Walk In Tiled Shower & Separate Office off Second Staircase. Other amenities include First Floor Laundry, Walk Up Attic & Room to Expand in the Spacious unfinished Basement. Relax on the Screened In Porch that leads to the Deck. Natural Gas & Town Sewer. Located in the Sought After Broad Acres Neighborhood. Award winning Schools! Great Commuter Location. Open House Saturday May 5th 12-2!

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Posted by Northeast Signature Properties, LLC on 5/7/2018

The real estate market is filled with many high-quality residences, and after a comprehensive search, you've found a residence that fits your personal needs and budget perfectly. However, you may need to think twice before you submit an offer on this residence. There are many factors that homebuyers should consider before they make an offer on a house, including: 1. Neighborhood Ideally, you'll want to find a home in a community filled with friendly neighbors. But in many cases, homebuyers may focus exclusively on a residence and ignore the neighborhood entirely. Taking a walk around a neighborhood often allows you to get a better feel about what it is like to live in a neighborhood and may give you a chance to meet some of the neighbors as well. Also, a simple walk around the block will provide you with a better idea about whether a house's value may rise or fall in the foreseeable future. For instance, a neighborhood filled with houses with well-maintained front lawns, nearby parks and schools and other local amenities may prosper for years to come, and home values may rise in this neighborhood over the next few years. 2. Crime No one wants to live in an unsafe area, and you can learn about crime near a prospective home before you submit an offer on a residence. Contacting a local police station usually is a great idea for homebuyers who want to find out about crime statistics in a particular area. Furthermore, your real estate agent can provide insights into crime in a specific area and help you determine whether a particular house is the best option. 3. Traffic Although your dream home features all of the amenities you want, it might fail to provide you with quick, easy access to your office day after day. For example, traffic can be a problem if your house is located in or near a major city. And if you need to travel to work every day, it is important to understand how traffic could affect your daily commute. To better understand traffic patterns in a particular area, try driving to a residence at different times during the day. By doing so, you can learn about traffic patterns near a house and be better equipped to make a more informed decision about whether to submit an offer on a residence. 4. Taxes You've been pre-approved for a mortgage and have established a monthly budget for a new home, but taxes may vary depending on where you move. Thus, you'll want to learn as much as possible about potential taxes that you could face at a new residence before you submit an offer. Taxes may add up quickly, but homebuyers who budget accordingly can minimize the risk that they'll fall behind on tax bills. And with support from your real estate agent, you can learn about taxes that you may encounter if you purchase a particular residence. If you're fully satisfied with a residence after you consider the aforementioned factors, you'll be ready to submit an offer and move one step closer to moving into your dream house.