Ron Ouellette
RE/MAX Advantage I | 508-847-7111 | [email protected]


Posted by Ron Ouellette on 9/20/2018

While buying a home is a huge decision that should entail a lot of planning and preparation, applying for a mortgage can be surprisingly easy. Just like with other lenders and creditors, a mortgage lender will want to know that letting you borrow money will be a safe investment. Applying for a mortgage is all about ensuring just that.

In today’s post, we’re going to breakdown the home loan application process to help you have the best chances at a smooth and successful mortgage approval. We’ll also define some of the common terms used in mortgages that might leave you scratching your head so you have a better idea of what your options are.

Prequalification and Preapproval

Getting prequalified and preapproved for a mortgaged can both be helpful steps toward securing your home loan. The two terms mean two entirely different things, however.

In order to be prequalified for a mortgage, you typically need to only fill out a simple form (sometimes directly through a lender’s website). On this form, you won’t need to provide specifics or official documents.

Why is this process so simple? Well, that’s because getting prequalified for a loan doesn’t ensure that you’ll actually receive one. Rather, it is simply the first step toward finding out what type of mortgage and interest rates you could receive.

The next step after prequalification is preapproval. To get preapproved, you’ll have to fill out an official mortgage application. Your lender of choice will request a few pieces of information from you, including tax returns, proof of employment for the last two years, and a list of your debts. The lender will also perform a credit check to determine your loan eligibility.

Credit report

At this phase, lenders will also run your credit report. This is a type of “hard credit inquiry” that details your payment history, the number of accounts you have open, and other factors that help make up your credit score.

To secure the lowest interest rate possible, it helps to have a high credit score. So, in the years and months leading up to your mortgage application, focusing on building credit will pay off.

To increase your credit score, you’ll need to focus on paying your bills on time each month. You should also avoid opening new accounts within a few months of applying for a mortgage because this will count as a new credit inquiry. New credit inquiries--including applying for a mortgage--lower your score temporarily, so it’s best to avoid them when possible.

Additional paperwork required for mortgage applications

Not every mortgage application will be the same. Depending on the type of income you receive, you may need to provide different forms of income verification.

Each person will also have to claim different debts and assets. When buying a home with a spouse or partner, it’s important to consider your debts, assets, and credit scores to determine if it’s better to apply jointly or separately.





Posted by Ron Ouellette on 9/18/2018


64 Winifred Avenue, Worcester, MA 01602

West Side

Single-Family

$179,500
Price

7
Rooms
3
Beds
2
Baths
LOCATION, LOCATION! Desirable West Side Neighborhood * Solid "good bones" Construction * Priced Well Below Neighborhood and Comparable Market Values * Seller Downsizing * Excellent Potential/Opportunity In Great Location * Den on 1st Can Be 4th Bedroom with closet * Living Rm with Fireplace * Built-in Corner Cupboard in Dining Area * Hardwood Under Carpets * Spacious Open Finished Basement * Enclosed Front Porch * Garage * Deck * Huge Level Fenced Back Yard * Steam Heat by Oil * New Furnace * Replacement Windows * Easy Access * Schools, Parks, Shopping, and all services nearby * Sold "As Is" price reflects condition. NO SHOWINGS ALL DAY FRIDAYS AND SATURDAYS. NO SHOWINGS BEFORE 10AM OR AFTER 7PM ANY DAY
Open House
No scheduled Open Houses

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Categories: Price Change  


Posted by Ron Ouellette on 9/13/2018

If you intend to buy a house in the foreseeable future, it pays to prepare. That way, you can enter the real estate market as an "extraordinary" homebuyer, i.e. someone who knows exactly what it takes to find a great house at an outstanding price.

Now, let's take a look at three tips to help any homebuyer go from ordinary to extraordinary.

1. Learn the Ins and Outs of the Housing Sector

The real estate market is complex, particularly for someone who is pursuing a house for the first time. Fortunately, plenty of housing market data is available that can help you gain the insights that you need to make an informed home purchase.

Take a look at homes that are currently available in your city or town. By doing so, you can better understand the prices of houses that match your expectations. Then, you can tailor your home search accordingly.

Furthermore, don't forget to assess the prices of recently sold residences in your area. This housing market data will help you determine whether you're about to enter a real estate market that favors buyers or sellers.

2. Get Your Finances in Order

Meet with banks and credit unions to learn about your mortgage options – you'll be glad you did. If you get pre-approved for a mortgage, you can begin your home search with a budget in hand, thereby reducing the temptation to spend too much on a house.

Lenders are happy to provide you with information about a broad range of mortgage options. Also, if you ever have mortgage questions, lenders employ friendly, professionally trained mortgage specialists who are ready to respond to your queries.

In addition, it usually is a good idea to evaluate your credit score prior to applying for a mortgage.

You can obtain a free annual copy of your credit report from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). If you review your credit report closely, you can identify and resolve any potential credit problems and increase the likelihood that you can obtain a favorable mortgage.

3. Work with a Real Estate Agent

When it comes to becoming an extraordinary homebuyer, it is important to note that it can be difficult for even the most diligent homebuyer to succeed on his or her own. However, if you employ an expert real estate agent, you can streamline the process of acquiring your dream residence.

A real estate agent is committed to your homebuying success, and as such, will do everything possible to help you find the perfect residence.

Typically, a real estate agent will set up home showings, negotiate with a seller's agent on your behalf and provide honest, unbiased homebuying recommendations. This housing market professional will even help you alleviate homebuying stress and ensure that you can quickly go from homebuyer to homeowner.

Ready to embark on the homebuying journey? Use the aforementioned tips, and you can become an extraordinary homebuyer in no time at all.




Categories: Uncategorized  


Posted by Ron Ouellette on 9/6/2018

Moving groceries is not the most ideal of situations. You’re left worrying about spoilage, spillage and, let’s be honest, having another thing to move. Lighten your moving day load by planning ahead of time so that you have little to nothing left in your fridge and pantry to take with you.

To do this well it’s important to start at least a month before the move. Start by cleaning everything out - the pantry, your fridge and your freezer chest if you have one. Get rid of everything that is expired, stale or you just aren’t going to eat.

Take inventory of what’s left and categorize this list much like you would when creating your grocery list. So categories could be: meats/proteins, frozen vegetables, toaster/microwave items, desserts, dairy, fresh fruits and vegetables, grains, sauces, condiments, and snacks.

Next, it’s time to get creative and meal plan around these ingredients supplementing with items from the store occasionally as needed. The idea though is to do as little shopping and use up as much as you can with your meals for the month ahead. If you feel stumped on how to use what you have on hand utilize recipe websites that can pull recipes based on the ingredients you input into their system.  

Write down the meals you plan into your calendar or day planner. If you use an app for planning you can write down the recipe and set a reminder to it. Apps like Trello, Evernote and Asana are all free and perfect for this.

A few meal ideas:

Use ingredients to create items that are more stable, like baked goods, to take with you. Make homemade pizzas, soups, stews, salads, omelets and casseroles. The beauty of these types of dishes is the variety of ingredients you’re able to use in them. Be playful and make hybrid meals - spaghetti on pizza, taco omelets, a buffalo chicken rice bowl, french fries in a casserole (similar to hotdish, a Midwestern classic).

Hectic. Chaotic. Busy.

Moving week is many things, but there is one thing it is not - the time to cook elaborate or the creative dinners you’ve been eating throughout the month to use up items.

Plan this week well ahead of time, if not first, and make it all the easier by planning freezer meals you can just pull out and heat up.

Cooking items to keep out as you begin packing:

Salt and pepper

Cooking spray or oil

Spatula and a pan or two

A chef knife

A mixing bowl

Enough cutlery for everyone

Enough plates, cups, and bowls for everyone

Sponge and dish soap

By using up all your items as much as possible before the move you are creating the perfect opportunity to start over with your pantry. As you clean out items take note of what your tossing and steer clear of those when restocking or note to buy a smaller package to avoid future waste.




Tags: moving tips   moving day   moving  
Categories: Uncategorized  


Posted by Ron Ouellette on 8/31/2018


64 Winifred Avenue, Worcester, MA 01602

West Side

Single-Family

$199,500
Price

7
Rooms
3
Beds
2
Baths
LOCATION, LOCATION! Desirable West Side Neighborhood * Solid "good bones" Construction * Priced Well Below Neighborhood and Comparable Market Values * Seller Downsizing * Excellent Potential/Opportunity In Great Location * Den on 1st Can Be 4th Bedroom with closet * Living Rm with Fireplace * Built-in Corner Cupboard in Dining Area * Hardwood Under Carpets * Spacious Open Finished Basement * Enclosed Front Porch * Garage * Deck * Huge Level Fenced Back Yard * Steam Heat by Oil * New Furnace * Replacement Windows * Easy Access * Schools, Parks, Shopping, and all services nearby * Sold "As Is" price reflects condition. NO SHOWINGS ALL DAY FRIDAYS AND SATURDAYS. NO SHOWINGS BEFORE 10AM OR AFTER 7PM ANY DAY
Open House
No scheduled Open Houses

Similar Properties





Categories: New Homes