Boston Downtown condo downpayment

Lenders require that Boston downtown condo investors put down a 20% payment for an investments. However there is an alternative for Downtown Boston Condo and Boston Midtown high rise homebuyers that require only 3.5% down. The Downtown Boston Real Estate Market has numerous active luxury condos available and out of these. Boston downtown condo hombuyers see FHA loans as a perfect option as they come with a low down payment (usually around 3.5% of the purchase price) and they are also backed by a federal agency. Lending institutions has during the last couple of years lost a lot as they granted loans to current home owners that have not been able to pay their mortgage. From now on they are doing everything they can to curb the risk on approving new loans.

Good credit

As a Downtown Boston Real Estate investor one thing to be sure about before starting the home buying process is to make sure you are in good standing with credit disputers and have a good credit score. CNN Money is in their article “FHA to reject borrowers in minor credit disputes“ talking about a new rules. If you want to qualify for an FHA loan, you can’t have current disputes over $1,000.


This new rule gives the homebuyer a couple of different choices; you can either pay everything in full, provide proof that you are in the process of paying off the debts, or dispute the loan with the creditor as well as providing documentation to the lender. If you qualify is up to the lender to decide; however, the lender does not have to support the decision or provide documentation of not qualifying someone in the dispute cases to FHA. If FHA decides not to back the loan, lenders will not be responsible for the term and loan amount.

Reviewing your credit report and to make sure to settle disputes and errors is an important factor to complete before purchasing a Boston Midtown home. Homebuyers will need to handle their credit and financial records to be able to approve for a loan as government agencies and lenders are very cautious on whom they approve.

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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


North End

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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