Boston Real Estate for Sale

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.

Conclusion

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.

Boston condos for sale

Beacon Hill condo for sale

Back Bay Boston condos for sale 
Beacon Hill  Boston condos for sale
Charlestown Boston condos for sale
Navy Yard Charlestown  Boston condos
Dorchester Boston condos for sale
Fenway  Boston condos for sale
Jamaica Plain Boston condos for sale
Leather District Boston condos for sale
Midtown/Downtown  Boston condos for sale
Seaport District Boston condos for sale
South Boston condos for sale
South End Boston condos for sale 
Waterfront condos for sale 
North End condos for sale
West End  condos for sale
East Boston condos for sale

Boston condos for sale near Beacon Hill

Back Bay Boston condos 
Beacon Hill  Boston condos
Charlestown Boston condos
Navy Yard Charlestown  Boston condos
Dorchester Boston condos
Fenway  Boston condos
Jamaica Plain Boston condos
Leather District Boston condos
Midtown  Boston condos
Seaport District Boston condos
South Boston new condos
South End new condos 
Waterfront new condos 
North End  new condos 
West End new condos
East Boston condos

Condos around Beacon Hill to rent:

Call Now