FAQ
FAQ
Frequently Asked Questions
Am I Ready to Be a Homeowner?
Usually when you are ready you will know… a 5-15 min conversation with me and I can tell you! In general, you want to have a stable source of income, low debt, and high credit scores.
Is Renting or Buying Better?
The short answer: Buying.
The long answer: It depends, but usually buying.
The real estate market, like any market, ebbs and flows… sometimes when the market heats up too much, rent rates will be playing catch up. The key is finding the right property and having us negotiate the perfect deal.
What Is the Lender's Formula?
DTI Ratio = (Total monthly debt payments)/(gross monthly income)
What Do I Look for in Homes?
You want to look for a neighborhood that you would enjoy going for a brisk stroll at any time of the day. You want to find a home with ample space and structured just how you need it (1.5 bath? an extra bedroom for the in-laws).
Do I Need a Home Warranty?
A home warranty is not required by law. You may want to consider obtaining some, however, if you are looking at older properties with nearly failing appliances or other systems.
What Should I Expect at Closing?
At closing you should expect to sign the deed and all other pertinent closing documents! Once you close, and only after you have closed, then the sale gets recorded in your town’s Registry of Deeds.
What Is Pre-approval?
Pre-approval is the green light needed for homebuyers to be able to enter into contract to buy real estate. It is nearly impossible to enter into an agency contract to see houses without one these days, much less a contract to purchase real estate (except for cash financing).
Am I Ready to Rent?
Rents have become exorbitantly high for Boston residents. 1 bedroom arrangements are ranging from $1,600-2,200, 2 bedrooms are going for $2,600-3,200, and 3 bedrooms span from $3,300-$3,700
What Should I Offer?
Always offer what you are comfortable with and what feels right. We will only pursue pre-approval limits if it makes sense, and we’ll work closely with your lender to make sure of this
Can I Ask You for Advice?
That is what I am here for! Email me at alfredo@closewithfredo.com
Let's Find You The Place You Deserve
Drop us a line and we will get back to you promptly