Cory Gracie | Ashburnham Real Estate, Westminster Real Estate, Gardner Real Estate


This Mobile Home in Gardner, MA recently sold for $71,000. This style home was sold by Cory Gracie - Dimacale & Gracie Real Estate.


124 Rosewood Drive, Gardner, MA 01440

Mobile Home

$75,000
Price
$71,000
Sale Price

4
Rooms
2
Beds
1
Baths
This two bedroom manufactured home is exceptionally clean and move in ready. Open floor plan for the the kitchen and living room. Fully applianced kitchen with dining area and separate breakfast bar. Full bathroom and laundry area. Master bedroom has two walk in closets. Carport and shed. Over 55 community. The park fee is $463 per month and includes taxes, trash disposal, taxes, water, sewer, plowing of the streets and maintenance of common areas. Pet friendly.




Buying a home is one of the biggest financial milestones you’ll reach in your life. If you’re a first-time homebuyer, it can be scary to take the plunge and make a down payment on your first home.

Down payments are one element that makes up the factors which determine your monthly mortgage payments, and in turn, how much you’ll be paying toward your home in total. So, it’s important to understand just how much to save for a down payment.

In this article, we’ll talk about down payments, why they matter, and your options for saving up for a down payment.

Why down payments matter

A down payment is simply the amount of money a buyer pays at the time of closing on the house. Down payments help assure lenders that you will make your monthly mortgage payments because you have invested a substantial amount of money into the house and therefore risk losing your down payment if you fail to pay the mortgage and your house is foreclosed on.

If you’re eager to buy your first home, you may want to make the smallest down payment possible so you can move in sooner. However, a smaller down payment typically means a larger monthly mortgage payment. That’s because your mortgage payment depends on several factors.

When a lender determines how much they will lend you towards your home and how much your monthly mortgage payments will be, their formula takes into account your down payment, your credit score, and the value of the property. The higher your credit score and the higher your down payment is, the less your monthly payments will be.

Mortgage types and down payments

Many first time home buyers cannot afford large down payments on their first home (20% or more). As a result, there are loan types insured by the Federal Housing Administration that are offered for as low as 3.5% of the mortgage amount.

If you aren’t approved for an FHA loan but plan on making a down payment of less than 20%, you can still buy a home with private mortgage insurance (PMI). With PMI you pay a monthly premium for your insurance in addition to your monthly mortgage payments.

How long and how much to save

So, how much should you save? The short answer is as much as possible. However, if you need to move soon because of life circumstances, it isn’t always an option to hold off on moving for long periods of time.

If you’re currently renting each month at high prices, it might make more sense to put that money towards your first home, an asset which will likely increase in value, rather than spend it on rent which you get no return on.  

One of the best ways to save for a down payment is to set up a new cash savings account that will automatically deposit a portion of your paycheck each week. Having an off-limits account is a great way to save without the temptation of spending it on luxuries if the money would normally be sitting in your checking account.

Another option is to start investing. If you’re in no rush to buy a home and have the financial resources, investing pays off much more than a savings account does when it comes to increasing assets.

Regardless of how you choose to save, the most important takeaway is that you take action now to start saving and you don’t deviate from your savings plan for any reason.



364 Shea St, Fitchburg, MA 01420

Single-Family

$209,900
Price

5
Rooms
3
Beds
1
Baths
Front-To-Back Ranch with an inviting and open floor plan. Very large kitchen with breakfast bar, granite counter tops and plenty of room for a separate dining area. Sun-filled living room has cathedral ceilings and overlooks the fenced, level and private backyard. Plenty of space for gardens and entertaining. Updated bathroom. Finished lower level. Separate laundry room and great storage space. New furnace (2017), Roof (2015).
Open House
Saturday
May 19 at 12:00 PM to 2:00 PM
Cannot make the Open Houses?
Location: 364 Shea St, Fitchburg, MA 01420    Get Directions

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31 Howes Ct, Ashburnham, MA 01430

North Ashburnham

Condo

$289,000
Price

5
Rooms
2
Beds
2
Baths
Expect to be impressed by this completely upgraded condo both inside and outside. The custom designed kitchen features "Champagne" cabinets, pantry, granite countertops and a professional line of SS appliances including a vented range hood. The open concept dining area offers a slider to the bluestone patio and hand selected landscaping. First floor master bedroom, bathroom with walk-in shower and laundry. Second floor office area, full bathroom and bedroom. In addition, there are two enormous walk-in storage areas; both with hardwood flooring. Interior has been professionally painted, custom window treatments, central A/C. Enjoy the three season porch off the kitchen. The professionally designed landscaping extends to the front yard. Howe's Court residents are able to use a private beach area on Lower Naukeag Lake. This condo is turn-key. This is a 55+ community.
Open House
No scheduled Open Houses

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This Single-Family in Nashua, NH recently sold for $326,000. This Raised Ranch style home was sold by Cory Gracie - Dimacale & Gracie Real Estate.


301 Main Dunstable Rd, Nashua, NH 03062

Single-Family

$319,000
Price
$326,000
Sale Price

9
Rooms
4
Beds
2
Baths
Move - In ready Raised Ranch with three levels of finished living area! Everything to love about this completely updated 4 bedroom, 2 bath house including the hardwood floors, central A/C, new natural gas heating system (2018), on-demand water heater (2016), Pella replacement windows, freshly painted & central vacuum. Newer kitchen has an island, granite & SS appliances. Open concept living room with access to large deck and private fenced back yard. A seperate sitting area/office and master bedroom over the heated garage. The lower level has a large bedroom, custom designed bathroom and laundry. In addition, there is a recreation room offering a kitchette / in-law possibility with access to the walk out basement and patio area. Perfect for summer entertaining. Large level yard, paved circular driveway, shed, gutters, two decks plus a corner lot. A must see!

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