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Don’t have 20% to put down? No problem!

There is a common misconception that homebuyers must have 20 percent to put down on a home in order to qualify for a mortgage. In reality, there are many tenant guarantor loans programs that don’t require the full 20 percent, which Craig Berry explains in a blog post on The Mortgage Reports. What is a Down Payment? A down payment is a percentage of the home sale price that a lender requires the homebuyer to pay from reserves, rather than finance. Down payments can come from a bank account, a stock fund, an inheritance or a retirement portfolio. In some cases, down payments can also come from...

March 10th, 2014 Don’t have 20% to put down? No problem!

5 Reasons to Buy Now, Rather Than Wait

With the lull that comes after the busy holiday season, potential homebuyers assume that it’s not a great time to shop, and they should instead wait until spring. But in a blog post, the real estate team at Keeping Current Matters explains why now is the right time to buy, rather than during the spring and summer rush. Supply is shrinking Inventory is declining in many regions, and the best homes in the best locations are selling fast. Looking now, during the market’s slow time, increases the chances you’ll beat out competing shoppers to find the home of your dream. Price are likely to i...

February 20th, 2014 5 Reasons to Buy Now, Rather Than Wait

Why you should use a mortgage broker!

According to the President of the National Association of Mortgage Brokers, Don Frommeyer, mortgage brokers are contributing millions of dollars a year to consumers in the form of closing costs credits. Listen to him below! x      

October 17th, 2013 Why you should use a mortgage broker!

Frequently Asked Questions About Mortgages/Buying a Home

Can I apply for a mortgage before I find a house? Yes, which most real estate and mortgage professionals will tell you is the best thing to do. Applying for a mortgage ahead of time is called getting pre-qualified. When you’re pre-qualified, you are given a letter assuring you that you will most likely be approved (unless any major changes to your credit or income occur) for a certain amount of money. Getting pre-qualified allows potential buyers to look at homes in the right price range, and it assures real estate brokers and sellers that someone is a serious, qualified buyer. What determin...

October 6th, 2013 Frequently Asked Questions About Mortgages/Buying a Home

Tips to help you save for a down payment

Mortgage rates and home values are on the rise, and you want to take advantage of the ideal buyer’s market while you still can. The only problem is you don’t have enough money for a down payment. In the Zillow blog post “5 Tips to Help You Save for a Down Payment,” Benjamin Feldman offers some guidelines for saving a big chuck of money to put down on your dream home. Know how much you need. Down payments range from 3.5 percent to 20 percent. On a $400,000 home, that could be anywhere from $14,000 to $80,000. The first step is figuring out what your price range is, and w...

August 26th, 2013 Tips to help you save for a down payment

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Acadia Lending Group LLC

190 Riverside Street Unit 4B
Portland , Maine 04103

Phone: 207-899-4500

Fax: 207-899-4503

NMLS: 370636

 

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