Is Your Mortgage a Mole or Melanoma?

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Millennials (and now GenZ) homebuyers often make decisions about their finances through online research, even when it comes to buying a home. But relying solely on online research to educate yourself about mortgages can be risky. It’s like using WebMD to diagnose yourself without seeing your doctor.

Online research can be overwhelming and often confusing. There is a lot of conflicting information available, and it can be difficult to separate the credible sources from the unreliable ones. You may think you’re qualified by your own research and calculations, but you still may have your application rejected due to some detail you overlooked. Also, it’s very easy to overestimate your income and not properly factor in your debt-to-income ratio, even when using a mortgage calculator. So many things can go wrong in this process, especially if you’ve never been through it before. Think about it: this is going to be the biggest purchase you’ve ever made in your life, along with the longest financial commitment. Does that sound like something you can easily accomplish on your phone?

Here are a few more things to keep in mind:

Online calculators and mortgage rate comparisons can only provide an estimate and do not take into account the unique financial situation of each individual. This can lead to a situation where you might think you have found the perfect mortgage option, only to find out later that it’s not the best fit for you. Sometimes it can be so stressful and overwhelming — especially for first-time homebuyers — that they just go with whatever their bank has to offer. Don’t fall into that trap!

Additionally, online research cannot replace the expertise and experience of a mortgage professional —someone with the knowledge and experience to guide you through the process and can answer specific questions, advise on the best options, and help you find the best mortgage rates.

Going back to our WebMD analogy, a rash on the skin might not be the deadly illness you thought it was, but your doctor will be able to tell the difference between a simple rash and a serious disease (you know we always assume the worst with WebMD). Similarly, a mortgage professional will be able to tell the difference between a good deal and a mistake. I help clients avoid the pitfalls of predatory lending and steer you clear of options that might seem too good to be true.

Some big banks may push you towards products and options that are more profitable for them, rather than what’s best for you. As an independent mortgage broker I always put your needs and interests first. I am never beholden to any one lender and can provide you with a range of options that are in line with your specific needs.

Don’t take the risk of self-diagnosing your mortgage needs. It’ll make you sick. Let’s set up a meeting to get you the mortgage that works best for you.

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If you’d like to chat about mortgage options, please call me at 617-965-1236. If you’re planning to buy this year, let’s talk soon. I look forward to speaking with you.

Ready to buy a new home or refinance the one you own? Please get in touch and I’ll be happy to answer your questions and help guide you through the process. I look forward to speaking with you.

February Facts

February is a month known for its icy weather, Valentine’s Day and Presidents Day. But did you know these fantastic February facts?

  1. The name “February” comes from the Latin word “februarius” which means “to purify.”
  2. February is the only month in the year that can pass without a full moon.
  3. The birthstone for February is amethyst, a violet variety of quartz often used in jewelry.
  4. February is Black History Month, celebrating the contributions of Black Americans to our nation’s history.
  5. February is also National Heart Month, a time to raise awareness about heart disease and promote healthy habits.
  6. The first Groundhog Day was celebrated on February 2nd, 1887 in Punxsutawney, Pennsylvania.
  7. The first National Flag Day was celebrated on February 15th, 1894.
  8. Super Bowl LVII takes place on Sunday, February 12 this year at State Farm Stadium, home of the Arizona Cardinals.

Home Improver: Benefits of a Heated Driveway

Heated driveways may seem like a luxury item, but more and more families have these helpful snow and ice melters installed as a safety measure — not just for slip-and-falls but for the stress on the cardio-vascular system from shoveling heavy snow. Here are more benefits of this time-saving system.

  1. Convenience: during colder months: No more shoveling or snow blowing to clear a path to your garage or front door. The heat from the driveway melts snow and ice as soon as it falls, keeping your driveway clear and safe to walk on.
  2. Increased property value: A heated driveway is a luxury feature that can set your home apart from others on the market, making it more attractive to potential buyers. It also increases the overall curb appeal of your home.
  3. Energy efficiency: Electric heated driveways are typically more energy-efficient than gas-powered systems and can be controlled by a thermostat, allowing you to set the temperature to your desired level.
  4. Low maintenance: The heating elements are buried beneath the surface and do not require any regular maintenance. Additionally, the heating elements are protected from the elements and are not affected by snow and ice, ensuring a long lifespan.
  5. Environmentally friendly: By reducing the need for snow removal, a heated driveway can help to reduce the amount of pollutants and emissions caused by gas-powered snow removal equipment.

Learn more about heated driveways here.