Where do I find a Boston Downtown Real Estate Loan?

It is recommended that first-time Boston condo home buyers consult with multiple lenders before formally applying for a loan. Different lenders may have different rates and fees which can impact your monthly mortgage payment. By doing some research beforehand and shopping around, you can find the best deal. Also be sure to explore different types of financial institutions such as mortgage brokers, credit unions, savings and loans, and traditional banks.

Can I afford a Mortgage?

Before you start the Boston condo for sale buying process it is important to be sure that you can afford a home. Most lenders and lending institutions adhere to standards that are set by Fannie Mae. Fannie Mae buys and sells mortgages in the secondary market. Lenders want to be sure that your total monthly payment is not more than 28% of your gross monthly income, and your total monthly debt payments are no more than 36% of your total gross monthly income.

How do I apply For a Mortgage?

When applying for a mortgage loan for Boston downtown real estate for sale, be prepared to provide a large amount of documentation. It is recommended by Ginnie Mae that you gather these documents beforehand. Some of the documentation that you will need to provide includes personal information such as Social Security numbers and photo IDs. You will also need to have proof that you can afford the home including bank statements for the past 6 months, a month or more worth of pay stubs and documentation of other financial assets. It is also recommended that you bring documentation on your current credit accounts, tax statements for the past two years and the contact information of someone who can verify your employment.

How does my credit score fit in?

Credit scores have a major influence on whether or not you will be approved to buy a home. The Home Buying Institute states that a score of 620 will usually get you in the door with lenders. In order to get the best rates however, you will probably need a score of at least 740. Your credit score directly influences the amount of interest you will have to pay on the loan.

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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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