Wilson Wolfe Real Estate



Posted by Wilson Wolfe Real Estate on 5/20/2018

No income verification mortgage loans sound like a great idea. Also known as stated loans, these are easier to obtain than traditional mortgages. You wonít have to go through endless amounts of paperwork that traditional mortgages require. Think again. These types of loans are high risk and borrowers may have a hard time paying these loans back. Many lenders have removed these kinds of loans from their list of options. In certain circumstances, these loans can work for you, but you have to do your homework. 


Where Can You Get A Stated Loan?


Some lenders still provide these stated loans with no verification process required. Unlike earlier times, these loans are now pretty difficult to obtain. Typically, this type of mortgage is geared towards the self-employed and requires a large down payment. Also, the borrower must have a very good credit score to be considered for the loan. 


Are Stated Loans Unaffordable?


Since these loans come at very high interest rates, they are often seen as unaffordable due to the high monthly payment. Stated loans can have double the interest rate of what the current available mortgage rates are. However, if you donít have many options, or are in a hurry to get a home and have money in the bank, it could work well for you.  


Could A No Income Verification Loan Be Right For You? 


If you really want a home loan, the first step is to be truly honest about your income. If you find a beautiful home and know that itís out of your price range, you could risk defaulting on the loan. 


To truly understand what you can afford, youíll need to figure out all of your monthly expenses including taxes, mortgage insurance, phone bills and grocery bills. This will give you a full picture of your finances. Once you look at all of these factors, you may find that it does make the most sense for you to get a no income verification loan. 


Deciding On The Type Of Loan Youíll Get


If you find that you need a lower monthly payment, it may make more sense for you to go after a traditional home loan. If youíre self-employed and know that your options are limited, a stated loan certainly is an option for you, youíll just need to understand the risks of the entire process. Youíll also need to have a bunch of documents ready for the lender once you decide to go for the home loan. You can compare the costs of a no income verification loan to a traditional mortgage. Then, you can ask your lender what theyíll need from you in order to verify everything for the traditional mortgage. Any good broker can help you through your decision-making process. Youíll want to be well informed and compare all of the programs along with their fees. You should get recommendations on a lender who has the knowledge and experience to help you find the home loan thatís right for you.




Tags: Mortgage   mortgage rates   loans  
Categories: Uncategorized  


Posted by Wilson Wolfe Real Estate on 5/19/2018

This Single-Family in Tewksbury, MA recently sold for $524,000. This Cape,Split Entry style home was sold by - Wilson Wolfe Real Estate.


20 Oregon Road, Tewksbury, MA 01876

Single-Family

$520,000
Price
$524,000
Sale Price

7
Rooms
3
Beds
2/1
Full/Half Baths
This beautiful home, meticulously maintained , set on a lovely lot on a dead end street is ready & waiting for its new owners to enjoy the up coming spring & summer. The kitchen w/ stainless appliances installed in 2014, dbl. oven, breakfast bar, lots of cabinetry & gleaming hardwood flooring that continues through out the main floor w/exception of the 1/2 bath & laundry area. The sun filled front to back spacious living room features a cozy FP and dining area. Lovely, formal dining room for those holiday dinners & get togethers. The 2nd floor features a master w/full bath & large closet, 2 more bedrooms and full main bath. The lower level front to back family room is terrific for entertaining or just relaxing. Other features include, C/A, newer hw. heater, new side garage door being installed & extra storage area in the furnace room. Outside offers a large deck off of kitchen, sprinkler system & large storage shed. Must see to appreciate !






Categories: Sold Homes  


Posted by Wilson Wolfe Real Estate on 5/18/2018

This Single-Family in Billerica, MA recently sold for $530,000. This Split Entry style home was sold by - Wilson Wolfe Real Estate.


1 Courtland Lane, Billerica, MA 01821

Single-Family

$499,900
Price
$530,000
Sale Price

7
Rooms
4
Beds
2
Baths
Completely remodeled home featuring gleaming hardwood flooring, new kitchen with granite counter tops, tile backsplash and eat in area which opens to a bright living room, a newly updated full bath with a tile surround tub/shower and three bedrooms on the first floor with hardwood flooring. Basement includes a large family room with a fireplace, 2nd full bath and a fourth bedroom. Everything has been done including new roof, windows, deck, tankless hot water heater, flooring, bathrooms, kitchen, lights, doors, fixtures, landscaping, paint, central a/c,electrical service, etc. This home is ready to move right in. Located on a beautiful level lot, convenient to major routes, shopping, schools and restaurants. Will review any offers Monday, 4/9 at 4:00 pm.






Categories: Sold Homes  


Posted by Wilson Wolfe Real Estate on 5/18/2018

This Single-Family in Wilmington, MA recently sold for $557,500. This Split Entry style home was sold by - Wilson Wolfe Real Estate.


1 Charlotte Rd, Wilmington, MA 01887

North Wilmington

Single-Family

$514,900
Price
$557,500
Sale Price

8
Rooms
3
Beds
1/1
Full/Half Baths
The search is over! Settle into this immaculate, completely renovated 8 room home in established commuter friendly neighborhood & relax in the vaulted screened-in porch overlooking the tree filled backyard.Everything has been tastefully & carefully done for you! The open concept floor plan allows you to enjoy the recently renovated but timeless cherry cabinet filled kitchen w/ gorgeous granite countertops, glass backsplash,stainless appliances & moveable island while easily accessing the dining & living rooms. Additional outstanding features include: 2 brick wood burning fireplaces,abundant recessed lighting & dimmers,gleaming oak staircases & floors,fresh paint & all new lighting fixtures.The gorgeous new full bath boasts ceramic tile, cherry vanity & quartz counter top, the tiled 1/2 bath features laundry hookups and storage closet.Newer vinyl siding,windows,exterior doors,carriage house garage door & shed.Title V done!HURRY! **OFFERS DUE 4/11 WED by NOON**






Categories: Sold Homes  


Posted by Wilson Wolfe Real Estate on 5/18/2018


2 Wilson Street, Wilmington, MA 01887

North Wilmington

Single-Family

$429,900
Price

7
Rooms
4
Beds
1
Baths
Love at first sight - it's a beautiful home! Step right in and you'll see!. Enter the large living room with hardwood flooring, handsome fireplace, and a beautiful picture window. Then on into the dining room with hardwood flooring and another picture window that overlooks the gorgeous yard. The kitchen with all new and beautiful appliances will please even a gourmet. Two good-sized bedrooms and a full bath round out the first floor. The second floor has two more large bedrooms. There is a full basement with one half side partially finished with a bar area, and the other side holds the space for the washer and dryer, and other family needs. Another plus is the fact that the home is located on a dead-end street that is not far from the highway, train station, and market.
Open House
Saturday
May 19 at 12:00 PM to 1:30 PM
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Location: 2 Wilson Street, Wilmington, MA 01887    Get Directions






Categories: New Homes  




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