With the Boston snow storm in full force, I stayed home and surfed the net, and I came across a link from Discover Home Loans survey which revealed how unprepared buyers are by the actual mortgage process. The survey reported that 94 percent of prospective buyers believe they are making a good investment decision if they buy a Boston condo. The survey also explained that 66 percent of buyers reach out to real estate agents to help determine whether buying a certain home would be a good investment. However, there is less certainty regarding the Boston mortgage process.
Most Boston condo buyers are overwhelmed
The majority of potential Boston condo buyers are actually overwhelmed with the plethora of information available about the home financing process. Here are some interesting highlights from the survey:
- Nearly 66% feel overwhelmed with the amount of information available
- 76% of those under the age of 30 feel overwhelmed
- 76% of first time buyers feel the same way
- 54% of those buyers who have previously owned also were overwhelmed
- 59% of buyers turn to mortgage bankers to help evaluate mortgage terms and comparing offers
- 49% of buyers turn to real estate agents to help evaluate mortgage terms and comparing offers”
Ford Realty Inc Can Help
The purchasing of a Boston condo can put great pressure on an individual or couple. Please reach out to us mortgage for assistance throughout the Boston condo buying process at 617-720-5454.
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For more information please contact one of our on-call agents at 617-595-3712.
Updated: January 2018