Checklist To Buying A Home

In honor of the Southern Maine Spring Market and all the new buyers, I thought it would be helpful to review a standard checklist on what to expect when purchasing a home in Maine. Depending on the location and type of property will determine the finer details of purchase.  For this article, I will presentContinue reading “Checklist To Buying A Home”

3 Terms Every Mortgage Holder Should Know

Getting a mortgage can be a very confusing process. There is a lot of paperwork to sign, documents to read and procedures to be followed. You’d think you were applying to go to Harvard or Yale, except they don’t require that much paperwork for you to be admitted! Going into a mortgage knowing just aContinue reading “3 Terms Every Mortgage Holder Should Know”

Bond Market Continues To Remain Volatile

Bond markets fell today but were able to close near unchanged after a slightly better than expected report on GDP and after a 5.6% rise in Existing Home Sales for November. Our benchmark 4% coupon fell 3bp to end at 99.0. Stocks posted modest gains on the data with the Dow up 26.33 to 11,559.48,Continue reading “Bond Market Continues To Remain Volatile”

Maine Home Equity Line – Good or Bad?

What is a home equity loan? A home equity loan is a form of credit for which your home is pledged as collateral. Generally, home equity loans offer a fixed interest rate and a fixed monthly payment. A standard home equity loan (also called a second mortgage) is paid off over an extended period ofContinue reading “Maine Home Equity Line – Good or Bad?”

FHA LOAN LIMITS IN MAINE

Here is a simple chart outlining Maine’s FHA Loan Limits. Name County Name One-Family Two-Family Three-Family LEWISTON-AUBURN, ME (MSA) ANDROSCOGGIN $271,050 $347,000 $419,425 NON-METRO AROOSTOOK $271,050 $347,000 $419,425 PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME (MSA) CUMBERLAND $337,500 $432,050 $522,250 NON-METRO FRANKLIN $271,050 $347,000 $419,425 NON-METRO HANCOCK $272,500 $348,850 $421,650 AUGUSTA-WATERVILLE, ME (MICRO) KENNEBEC $271,050 $347,000 $419,425 ROCKLAND, MEContinue reading “FHA LOAN LIMITS IN MAINE”

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