Frequently Asked
Questions

Homebuyer FAQs


Top 5 Homebuyer FAQs

  • From the homeowner inspection, to appraisal fees to closing costs, there are many costs in addition to securing and paying your mortgage when buying a home. To avoid any surprises see U.S. News' article on the 12 Hidden Costs of Homeownership

  • Interest rates change frequently and will greatly affect your monthly payment for your loan. To view the weekly averages for U.S. mortgage rates please click HERE and compare this with the rates your lender is offering. 

  • Lenders require a credit score in order to qualify for a mortgage. Go to your lender prepared with this information so there are no surprises for you in the application process. To receive a free credit report you can visit Annual Credit Report. To learn more about credit reports and how they can affect your ability to qualify for a mortgage visit the Consumer Financial Protection Bureau

  • Once you have all of your income, debt and asset information calculated you are sure to wonder what you can afford with your household income. MHP and MassHousing both offer affordability calculators that will provide you some general guidance on this topic. Please click HERE for MHP's affordability calculator for the One Mortgage. Please click HERE to use MassHousing's affordability calculator for their products. 

  • Click HERE for our list of approved pre-purchase homebuyer education courses. Course times, locations, cost and language offerings may vary depending on the agency providing the class.