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Blog Image: Happy Independence Day 2018!

Happy Independence Day 2018!

We wish you a Happy Independence Day and hope that your day is filled with great food, fun, friends, family and fireworks. Let us all remember the founding of our great nation and the freedoms we enjoy and all those that have sacrificed so much for us and our country. May we all come together to strengthen and protect freedom, liberty and independence for all. If you know of anyone looking for a mortgage in Maine? Please let them know that they can contact Acadia Lending Group LLC at 207-899-4500 today and we can go over the best mortgage options for them.

July 3rd, 2018 Happy Independence Day 2018!

Blog Image: 4 Things Every Borrower Needs to Know About Mortgage Brokers

4 Things Every Borrower Needs to Know About Mortgage Brokers

Buying a home in Maine, whether for the first time or the last, is an exciting event. Yet before you even take a look at a single home for sale, it is a smart idea to have your mortgage financing lined up. While it is possible to get a home loan directly with your local credit union or bank, the most common mortgage-makers are mortgage brokers. If you are ready to apply for a home loan, here are 4 things you need to know about mortgage brokers before starting the process. A broker is a middleman Mortgage brokers act as go-betweens for you and many different potential lenders. Instead o...

June 20th, 2018 | mortgage brokers, 4 Things Every Borrower Needs to Know About Mortgage Brokers

Blog Image: Should I Rent or Buy?

Should I Rent or Buy?

While homeownership has long been the American dream, buying a home is not necessarily the best choice for every person or every situation. There are many factors to consider in determining if a home purchase is the right decision for you right now. Can you Afford It? If the cost to own a home – mortgage, homeowners insurance and property taxes included – if less than roughly 28% of your gross income and you have few other debt obligations, you can probably afford to buy. Do not underestimate the additional costs of maintenance though. Replacing appliances or paying for a plu...

June 14th, 2018 | Purchasing a Home, Should I Rent or Buy?

Blog Image: Millennials spend almost $100k on rent by age 30

Millennials spend almost $100k on rent by age 30

Millennials on average pay $92,600 in total rent by the time they turn 30, according to a report by the real estate website RentCafe. While this generation’s total median income is higher than previous generations – $206,600 in eight years – they spend about 45% of their pay on rent. Financial expects typically recommend spending just 30% on rent. Millennials are generally defined as people born between the early 1980s and the mid-1990s. Baby Boomers, on the other hand, earned $195,700 and spent $71,000 on rent – a rent burden of about 36%. Gen Xers brought hom...

April 4th, 2018 Millennials spend almost $100k on rent by age 30

Don't have 20% down? No problem!

When talking to renters who are considering making the leap to homeownership, there is usually one thing in particular that they say is holding them back: the down payment. According to the National Association of Realtors, 87% of first-time buyers think they need at least 10% to put down to buy a home. That means they would have to save up $20,000 to buy a $200,000 home. That simply isn’t the case. In fact, 61 percent of first-time buyers made an average down payment of zero percent to 6 percent, according to the November 2017 REALTORS® Confidence Index Survey.  ...

March 14th, 2018 Don't have 20% down? No problem!

Blog Image: In a seller's market, avoid these first-time buyer pitfalls

In a seller's market, avoid these first-time buyer pitfalls

The housing market is booming, and hit several records in 2017. The typical home on the market went under contract in just 37 days from the listing, setting a new record for home-selling speed, according real estate company Redfin. More than a quarter of homes sold for more than their list price, which is the highest percentage ever recorded by Redfin. And the median sale-to-list price hit 95.4 percent, meaning almost all homes sold for at least what the seller listed them for. But first-time homebuyers out there shouldn’t get discouraged. Avoiding some big pitfalls will ensure ...

February 9th, 2018 In a seller's market, avoid these first-time buyer pitfalls

Acadia Lending Group LLC

10 Donald B. Dean, Suite 2
South Portland , Maine 04106

Phone: 207-899-4500

Fax: 207-899-4503

NMLS: 370636

 

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