Jack Walker Realtor Whitinsville MA Real Estate Northbridge Uxbridge Douglas Sutton Grafton


The decision to buy a house is probably the best decision you would ever make. Deciding is the easy part; coming up with the capital to finance the dream is the hard part. Getting a home of your own has its perks, but it can be a daunting process to acquire.

Usually, prospective homeowners seek mortgage loans when they need to get a house they can afford. The traditional mortgage has its terms and conditions for granting out loans. You must satisfy the terms and conditions before such loans become available. 

So, what happens if you do not qualify for a mortgage payment? Does this mean your ‘American Dream’ of owning a home would not see the light of day? There are other channels prospective homeowners can seek loans from aside the traditional mortgage. They include:

Lease-to-own

Lease-to-own is an agreement between the seller and the buyer. The seller rents the house to the buyer temporarily if the buyer can come up with enough money as a down payment. The rent installment paid, out of which a certain amount goes into an escrow account as money to use in securing the home. The contract is usually between a year after which the buyer pays for the balance of the property or packs out and leave. 

Borrow from Your Retirement Account

Borrowing from your retirement account is like borrowing from yourself, but this should only be short term. You will pay a penalty fee of 10% if you are not up to the age of 60 years for taking out money from your retirement account - and you would pay taxes on the amount borrowed. If you lose your job during the process, you must pay back the money borrowed within 60 days. 

Borrow from Your Insurance Policy

What’s the harm in borrowing from your insurance policy especially if your insurance policy allows you to take a loan against your principal? You don’t have to return the money, but you would get less than the amount you or your heir were supposed to get paid when the policy matures. You can apply for the loan through your insurer directly and bear in mind that the rates vary. 

Save Enough for A Down Payment

This method seems like the most convenient, but it requires you to exercise patience. Most lenders now do not need 20% as a down payment anymore but if you can’t come up with enough money as a down payment–save enough until you qualify for a traditional mortgage.

Get A Co-Signer

Getting a friend or a relative to co-sign with you is a great way to increase your chances of qualifying and to secure a loan, especially when they have a higher credit score than you.

Buying a home requires rigorous planning, and it is capital intensive. Weigh all your options before finally deciding. 


As a homebuyer, entering the real estate market with insights into what it takes to find the perfect house is essential.

Becoming an expert homebuyer, however, may seem impossible at times. Lucky for you, we're here to help you gain the knowledge and skills you need to make your homeownership dreams come true.

What does it take to become an expert homebuyer? Here are three tips to help you do just that.

1. Look at Real Estate Market Trends

The housing market ebbs and flows. Therefore, a seller's market today may transform into a buyer's market tomorrow.

Ultimately, the real estate market fluctuates constantly, and you'll want to learn as much as possible about the housing sector to ensure you can map out your homebuying journey accordingly.

In a buyer's market, there are usually more home sellers than buyers. This means homebuyers may be better equipped than ever before to secure a top-notch house at a budget-friendly price.

On the other hand, a seller's market features an abundance of homebuyers and a shortage of sellers. For homebuyers who operate in a seller's market, they may be forced to submit competitive offers on homes quickly, or risk missing out on a dream residence to a rival.

When you study the housing market, don't forget to check out the prices of residences that recently sold. By doing so, you can gain a better understanding of how much you'll likely need to pay to acquire a first-rate house based on the current state of the housing market.

2. Learn How a Mortgage Works

What differentiates a fixed-rate mortgage from an adjustable-rate option? An expert homebuyer will know the ins and outs of assorted mortgage options and select one that corresponds to his or her finances.

To learn about mortgages and how they work, you'll want to meet with credit unions and banks. These lenders can describe the different types of mortgages and the pros and cons associated with them.

Also, an expert homebuyer will get pre-approved for a mortgage. With a mortgage in hand, this homebuyer will be able to stick to a price range as he or she searches for the ideal home.

3. Collaborate with a Real Estate Agent

Let's face it – no homebuyer can afford to make mistakes. Fortunately, you can work with a real estate agent to receive expert guidance as you navigate the homebuying journey.

A real estate agent boasts the skills and know-how needed to streamline the homebuying process. He or she may have many years of housing market experience and is happy to teach you about the opportunities and challenges associated with buying a house.

Furthermore, a real estate agent will help you accelerate the homebuying cycle. He or she can set up home showings, negotiate with home sellers on your behalf and much more. That way, you can focus on what's important – finding a terrific house at an affordable price.

Take advantage of the aforementioned tips, and you can become an expert homebuyer.


Custom built, one owner, over-sized brick ranch on beautiful acre lot. One and a half baths, spacious rooms, and fireplaced living room, Freshly painted interior and gleaming hardwood floors. Updated Buderus boiler, replacement windows, three year old roof, and septic system less than two years old. Walk out basement with semi-finished family room, enclosed porch, and shaded backyard patio. Also comes with back up generator. Perfect home for those looking to downsize to one level living!

More Info on this Property | New Listing Alerts


704 Fowler Rd, Northbridge, MA 01534

Single-Family

$339,900
Price

6
Rooms
3
Beds
1/1
Full/Half Baths
Custom built, one owner, over-sized brick ranch on beautiful acre lot. One and a half baths, spacious rooms, and fireplaced living room, Freshly painted interior and gleaming hardwood floors. Updated Buderus boiler, replacement windows, three year old roof, and septic system less than two years old. Walk out basement with semi-finished family room, enclosed porch, and shaded backyard patio. Also comes with back up generator. Perfect home for those looking to downsize to one level living!
Open House
Sunday
July 07 at 1:00 PM to 3:00 PM
Cannot make the Open Houses?
Location: 704 Fowler Rd, Northbridge, MA 01534    Get Directions

Similar Properties




704 Fowler Rd, Northbridge, MA 01534

Single-Family

$339,900
Price

6
Rooms
3
Beds
1/1
Full/Half Baths
Custom built, one owner, over-sized brick ranch on beautiful acre lot. One and a half baths, spacious rooms, and fireplaced living room, Freshly painted interior and gleaming hardwood floors. Updated Buderus boiler, replacement windows, three year old roof, and septic system less than two years old. Walk out basement with semi-finished family room, enclosed porch, and shaded backyard patio. Also comes with back up generator. Perfect home for those looking to downsize to one level living!
Open House
Sunday
July 07 at 1:00 PM to 3:00 PM
Cannot make the Open Houses?
Location: 704 Fowler Rd, Northbridge, MA 01534    Get Directions

Similar Properties





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