5 Tips (tricks) On Getting a Boston Condo Loan

Whether you’re a first-time Boston condos buyer or a seasonal Boston high rise condo buyer , buying a new Boston condo can be a source of stress. Uncertain financing is probably one of the biggest sources of this type of stress. However, being prepared and educating yourself can greatly reduce the angst you might feel about the home buying process. Here is a look at five lesser-known details about home financing.

1. You May Qualify for Down Payment Assistance

Saving for a down payment isn’t easy. Down payment assistance may come in the form of an interest-free loan, or it may be a grant, meaning it doesn’t need to be repaid. For some programs, you don’t even have to be a first-time homebuyer or have a low income. There are government-sponsored programs, private sector opportunities, and down payment assistance programs for veterans. Consult your lender or a trusted Boston condo real estate agent for more information on programs that may be available to you.

2. Mortgage Credit Certificates Are Available in Some Instances

A mortgage credit certificate can be a great benefit to the first-time homebuyer. In this program, some local or state governments provide a home buying incentive in the form of a tax credit, which is derived from a set portion of the interest you pay each year on your home loan. It’s a credit, not a tax deduction, which means a mortgage lender can estimate the amount of credit you would receive and count it as income, thus enabling you to potentially afford a more expensive home. However, the Internal Revenue Service has an annual $2000 cap. This credit lasts for the life of the mortgage loan provided the buyer continues to live in the home.

3. You Can Shop Lenders

Many people are under the mistaken impression they cannot compare lenders. They may feel they have to work with only their personal bank, or they may believe it would be too costly or time-consuming to shop around. Sometimes, people with credit issues think they only have one option. To ensure you get the best deal, consult several lending institutions. You can also work with a mortgage broker. A broker doesn’t lend the money, but instead arranges the transaction and helps you find the best lender for your specific situation.

4. Closing Costs Are Negotiable

All the fees and costs associated with buying a home can add up quickly, which can be especially daunting for low-income buyers. Depending on the housing market in your area, you may be able to negotiate with the seller to pay some or all the closing costs for you.

5. Location-Based Loans May Be Available

If you are interested in purchasing a Boston condo or Boston high rise condo for sale, please contact us at we will connect you to the perfect location based loan that may be available to you.

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Author Profile

John Ford
John Ford

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs

In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.


For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.


Back Bay

Beacon Hill

Charles River Park


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South End

Seaport District

South Boston



Surrounding Communities of Boston
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.

John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114



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