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Cape Cod Real Estate, Properties for Sale, Rentals:
Learn the Ins and Outs of buying
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Learn the Ins and Outs of Buying and Selling a Home
Whether you are a first time home buyer or an experienced seller, Century 21 Shoreland Agents are ready to assist you. In this section you will find helpful information regarding finance, buying a home, selling a home, and owning a vacation home.
Finance
Tips on paying off your mortgage faster
- Make payments on a bi-weekly schedule rather than monthly
- Pay a lump sum amount
- Shorten the term of your loan
- Add more to your monthly payments
- Refinance to a lower interest rate loan therefore lowering your payments that are due, but continue to pay the higher payment amount
Avoiding Foreclosure
- Foreclosure occurs when the bank or lender takes the property or sells the property to satisfy a debt
- Talk to the lender, they may be able to work out a repayment plan
- You may be able to refinance to extend your loan and reduce your payments
Fixed Rate vs. Adjustable Rate Mortgages
- Fixed Rate Mortgages (FRM): the interest rate will remain the same for the term of the loan.
- Adjustable Rate Mortgages (ARM): the interest rate has the ability to fluctuate either higher or lower, therefore increasing or decreasing your payment for the term of your loan
- FRMs offer the security of your payment staying at the same interest rate throughout your entire loan. ARMs are more risky but could result in a lower payment depending on the current interest rate.
Useful Financial Calculators
Current Interest Rates
Buying a Home
Steps to Buying a Home
- Home Buyer’s Guide – {Link to Home Buyer’s Guide}
- Buy Pod Casts – {Link to Buy Pod Casts}
Buying a Second Home
- Vacation homes can be bought as an investment for the future
- Vacation homes are being bought as a second home for now with the idea that they will eventually turn into permanent retirement home
- Owners will generally incur a second mortgage, double utility bills and additional maintenance costs
- A second home may be rented either year-round or seasonally, to offset the costs of ownership
Selling a Home
Steps to Selling a Home
- Home Seller’s Guide – {Link to Home Seller’s Guide}
- Seller’s Pod Casts – {Link to Seller’s Pod Casts)
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Proudly doing business in the following Cape Cod, Massachusetts towns and villages: Barnstable, Bourne, Brewster, Buzzards Bay, Centerville,
Chatham, Cotuit, Dennis, Eastham, Falmouth, Harwich, Hyannis, Marstons Mills, Mashpee, Orleans, Osterville, Provincetown,
Sandwich, Truro, Wellfleet, Woods Hole and Yarmouth.
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Equal Housing
