Susan & Brian Dicks - ERA Key Realty Services



Posted by Susan & Brian Dicks on 2/12/2020

Many first-time home buyers are worried about all of the documents and information theyíll have to gather when applying for a mortgage. If youíre anything like me, youíre probably dreading having to dig through the five places that these documents might be. Fortunately, the process is now somewhat streamlined thanks to lenders being able to collect most of your information digitally.

In todayís article, weíll talk about the documents youíll need to collect when you apply for a home loan so that you feel prepared and confident reaching out to lenders.

Documents needed to pre-qualify

Before going into applying for a mortgage, letís talk about pre-qualification. There are three types, or in some cases steps, of approval with most mortgage lenders: pre-qualification, pre-approval, and approval.

Pre-qualification is one of the earliest and simplest steps to getting pre-approved. It gives you a snapshot of the types and amount of loans you can receive. Pre-qualification typically doesnít include a detailed credit analysis, nor do you need to provide many specific details or documents.

Typically, youíll fill out a questionnaire describing your debts, income, and assets, and they will give you an estimate of the loan you might qualify for. Might is the key word here. Your pre-qualification amount is not guaranteed as you havenít yet provided official proof of your information.

Documents needed for pre-approval

Getting pre-approved for a mortgage entails significantly more work on the part of you and your lender than pre-qualification. First, the lender will run a credit analysis. You wonít need to provide them with any information for this step, as theyíll be able to automatically receive the report from the major credit reporting bureaus. However, itís a good idea to check your report before applying to make sure there arenít any errors that could damage your credit.

Now is where the legwork comes in.

Youíll need to gather the following documents to get officially pre-approved or approved for a mortgage:

  • W-2 forms from the previous two years. If you are self-employed, youíll still need to provide income verification, usually as a Form 1040, or ďIndividual income tax return.Ē

  • Two forms of identification. A driverís license, passport, and social security card are three commonly accepted forms of identification.

  • Pay stubs or detailed income information for the past two or three months. This ensures lenders that you are currently financially stable.

  • Federal and State income tax returns from the past two years. If you file your taxes online, you can often download a PDF version that includes your W-2 or 1040 forms, making the process of submitting tax and income verification much easier.

  • Personal contact information. Name, address, phone number, email address, and any former addresses which youíve lived in the past two years.

  • Bank statements from the previous two months. Also, if you have any assets, such as a 401K, stocks, or mutual fund,  youíll be asked to include those as well.

  • A complete list of your debts. Though these will likely be on your credit report, lenders want to ensure they have the full picture when it comes to how much you owe other creditors and lenders.





Categories: Uncategorized  


Posted by Susan & Brian Dicks on 2/11/2020


4 Boyden Street Ext, Webster, MA 01570

Multi-Family

$319,900
Price

2
Units
3,060
Approx. GLA
Their loss, your gain!! This young Duplex style 2 family is a great opportunity for either an investor or if someone that wants to live on one side and collect rent to help pay the mortgage from the other. Each unit offers central A/C, central Vac, a large cabinet packed eat-in kitchen with center island, slider to the deck, a half bath, and large living room with hardwood floors and a ceiling fan. The second floor features a Master Bedroom with walk-in closet, a good size family bath, and a second bedroom with large closet. The basement is wide open to do what ever you wish, and a washer dryer hookup. The decks are excellent for just sitting and enjoying the fall afternoons, or firing up the grills and entertaining your friends and family. The yard is level with lots of area for sitting or play. Live on 1 side and collect rent from the other or collect rents from both! No Showings until Open House 2/15/20.
Open House
Saturday
February 15 at 12:00 PM to 2:00 PM
Their loss, your gain!! Don't miss this open house featuring a young Duplex style 2 family with a great opportunity for either an investor or if someone that wants to live on one side and collect rent to help pay the mortgage from the other.
Cannot make the Open Houses?
Location: 4 Boyden Street Ext, Webster, MA 01570    Get Directions

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Categories: Open House  


Posted by Susan & Brian Dicks on 2/5/2020

Searching for the ideal home is an exciting adventure, but it can also be fraught with setbacks, delays, and disappointments. With a little preparation, however, you can avoid many of the potential pitfalls that could happen along the way.

One of the secrets of successful house hunters is to adopt a positive attitude, but temper it with a dose of realism.

Flexibility is also important, but it pays to be steadfast about your absolute requirements, also known as your "must have" list.

To help ensure a successful house hunting experience, here are a few of the key attitudes and qualities that are worth taking inventory of and cultivating.

Persistence: Although it does happen, it's unlikely that the house of your dreams is going to show up at the beginning of your search. As seasoned house hunters know, it's not unusual to have to look at dozens of houses for sale before finding just the right one. But even when you've reached that turning point, there still may be obstacles, hurdles, and challenges to deal with. The perfect example is a bidding war. What if you're all ready to make an offer on the ideal house, but it turns out that one or more other buyers have their sights set on that same house? That can not only be stressful, but it can stretch your housing budget to its outer limits (and beyond)! On one hand, you have to be willing to walk away from a property that would leave you "house poor", but on the other hand, you may want to consider pursuing a real estate deal that's on the high end of your budget, but financially doable. Working with a knowledgeable real estate agent who's a skilled negotiator can help give you an edge when you're confronted with a so-called "bidding war."

Optimism: If you view house hunting as a process which will eventually produce your desired outcome, then you'll be a lot more motivated to go the distance, rather than lower your standards or give up entirely. A positive attitude will help you overcome setbacks, identify workable solutions, and recognize opportunities when they present themselves.

Organization: Whether you prefer the idiom "The devil is in the details" or "God is in the details," the lesson is still the same: Small details can have a big impact. Staying goal-oriented and organized can help propel you forward and avoid frustrations. Knowing your credit score, establishing a realistic housing budget, and scheduling meetings with mortgage lenders will help you stay on course, be prepared, and steer clear of unnecessary delays. It also helps to take notes, create lists, and follow a daily or weekly action plan.

Buying a house is an important priority which can affect the quality of your life in many ways. By staying organized, focused, and positive about your search, your chances of success will be enhanced many times over.




Categories: Uncategorized  


Posted by Susan & Brian Dicks on 1/29/2020

The neighborhood you live in has just as much to do with the value of your home as the features of the house itself. The right amenities in a community can increase the value of your home significantly. Read on to find out the most desirable features of any area.


Places To Walk


Whether itís immaculate sidewalks, hiking trail, or parks, anywhere that you can be outdoors and walk easily increases the value of the nearby homes. This is because itís great for families to get out, get some exercise, and not have to go very far. This feature can bring in anywhere from a few hundred to over a thousand dollars above your homeís asking price.  


Trees


We often take trees for granted, but trees that have grown up around a property can add some value to the home. Think of it in the context of, however natural a neighborhood is, the higher the value of the homes in it. Before you think about cutting down any trees around your house, consider the fact that grown trees can increase the cost of a home by up to 5%!


History


Neighborhoods that are surrounded by historic districts, landmark homes, or other places of historical interest have the higher value. For one, these are usually walkable neighborhoods. Second, your area has a story unlike any other. Itís a fun place to get out and explore. All homes in these historic districts arenít ancient; you can find some newer construction homes in these areas, which means that thereís truly something for everyone! 


Dog Friendly


A dog-friendly neighborhood is a valuable neighborhood. People love places that they can take their dogs like dog parks. This especially holds true in the city where yard space is limited. Even better is a neighborhood where dogs can be seen in restaurants and coffee shops. If you can drive around the block and see people walking dogs everywhere, itís a good bet that itís dog-friendly! People love their pets and want them to be a part of the family, so they need to live in a place that allows them to do that. 


All The Essentials


If your neighborhood is near all of the essential things that people need on a daily basis, your homeís value may increase. Places like grocery stores, pharmacies, shopping malls, hospitals, and safety support services all play a role in improving the value of homes in a neighborhood.


A Sense Of Community


If a neighborhood has community groups, a neighborhood watch, or other organizations that help to bring about a community feel, your home may be a bit more valuable than you think it is.   






Posted by Susan & Brian Dicks on 1/24/2020

This Single-Family in Uxbridge, MA recently sold for $218,000. This Antique,Farmhouse style home was sold by Susan & Brian Dicks - ERA Key Realty Services.


371 Aldrich St, Uxbridge, MA 01569

Single-Family

$219,900
Price
$218,000
Sale Price

4
Rooms
2
Beds
1
Baths
Enjoy the summer breezes in the 3 season porch or watch the kids as they ice skate on Aldrich Pond in this picturesque 1800's Farm House style home situated on a level lot on a beautiful country road just moments from 146! This antique home features a large eat-in kitchen with lots of cabinets and counter space, a good size living room with access to the enclosed 3 season porch and access to the walk up attic which features a lot of storage space and potential. The two bedrooms are a good size and offer large closets. The home is structurally sound, has been freshly painted on the inside and there are wood floors under most of the carpets. With some updating to your taste this is a perfect home to move into and do the updating as you go.






Categories: Sold Homes