Lawton Real Estate, Inc



Posted by Lawton Real Estate, Inc on 10/11/2018

Buying a home is one of the biggest financial milestones youíll reach in your life. If youíre 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 youíll be paying toward your home in total. So, itís important to understand just how much to save for a down payment.

In this article, weíll 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 youíre 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. Thatís 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 arenít 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 isnít always an option to hold off on moving for long periods of time.

If youíre 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 youíre 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 donít deviate from your savings plan for any reason.




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Posted by Lawton Real Estate, Inc on 10/5/2018

CUL DE SAC to the Left, CUL DE SAC to the right. Well maintained and updated Raised Ranch tucked away in a quiet WESTSIDE neighborhood. 5 YEAR YOUNG GAS HEATING, BRAND NEW ROOF along with a BRAND NEW TREX DECK. Updated kitchen with granite countertops, tile floor, huge food pantry and a newer gas stove. Large Mudroom off kitchen with full laundry facilities and closet space. Formal Dining Room and Living Room allow for great entertaining. Family Room tucked away for those quieter times. Master Bedroom has private half bath, hardwood flooring, two closets and remote control ceiling fan. Three more oversized bedrooms, all with lighted double closets and hardwood floors. The main bath has a jacuzzi tub and tile floor. Pull down attic for storage. Sit out on the new deck and enjoy a quiet summer dinner or rock the day away with a good book on the patio. The home sits perfectly on a stunning corner lot. Minutes to Highways, Mall, Schools and walking trails.

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Posted by Lawton Real Estate, Inc on 10/4/2018

Long before Facebook, Instagram, and Twitter changed the way we communicate and share information, there existed traditional social networks.

Although it's an old-fashioned concept, its value and importance will never go out of style.

For homeowners, growing families, and senior citizens, having a small group of people you can consistently turn to for support can make problems smaller and challenges a lot easier to glide through. Not only that, but having a solid connection with a few good friends, family members, and neighbors can help keep your spirits up, through both good times and bad.

When it comes to being a homeowner, raising a family, and growing older, here are some specific reasons why staying in touch with your social contacts can make life easier, less expensive, and safer:

  • Getting recommendations: Whether you need a new dentist, dog groomer, or plumber, your chances of finding someone who's dependable and reasonably priced are much greater when you ask a friend, relative, or trusted neighbor. When you're just left to you're own devices to sift through Internet listings, online reviews, and advertisements, it can be pretty time consuming and frustrating. All things being equal, you're more likely to have a successful experience with a service provider who's been recommended to you, as opposed to going through the vetting process completely on your own.
  • Taking care of your house while your away: When you're on vacation or away from home for a long weekend, it's nice to have someone you can rely on to water your plants, take care of your pets, and check to see if your house is secure. They can also make sure you don't have newspaper deliveries, packages, or mail piling up in front of your house.
  • Knowing a neighbor you can trust: Having someone nearby who can help you in an emergency, take care of your kids if you can't get home on time, or keep on eye on your house while you're away is a vital resource.
  • Senior citizens need a support network: As we age and become less able to get around like we used to, a helping hand can make a big difference in our lives. The psychological benefits of having a social life at an older age have also been well documented. Social contact enhances the quality of life for senior citizens and can even contribute to longevity.
If you've recently moved to a new community, it may be worth your while to join a couple organizations, take an adult education class, meet a few of your neighbors, and become active in the community. As songwriters, poets, philosophers, and spiritual leaders have reminded us for generations, everyone needs the help of other people in different stages of our lives. Seventeenth century English poet, John Donne, said it the mostly concisely when he wrote "No man is an island."





Posted by Lawton Real Estate, Inc on 9/28/2018

Here is the one you have been waiting for. A true New England Cape situated on a picturesque lot with gas all on the WESTSIDE.! Four large bedrooms with 1.5 baths. Hardwood Flooring and Tile throughout the home. Two fireplaces - one up and one down! One year young gas heating system with hot water. Newer Roof, bulkhead and bay window. Sit in the Sun porch and watch the world go by or entertain in the completely private backyard that backs up to the Battlemarch Historical Area. Walk a very short distance to the direct bus to Boston and leave your car at home. Come imagine all this property can be!

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Posted by Lawton Real Estate, Inc on 9/28/2018

Ready for more living space than you know what to do with - come view this property. Open the front door to a grand foyer with stone flooring and french doors to back yard. Master Suite with sitting room, bedroom, full master bath and walk in closet. Laundry is tucked away in a separate room from bathroom. Three bedrooms and another full bath on first floor. Large living room for those fun football games. Lower Level has a family room. Central Air/newer gas heating/water heater. Saving the best for last a three car working garage with heat/electric. It also has a fourth door in the rear for access to yard. The yard is oversized with Cherry, Apple, and Japanese Maple Trees. Present owner planted Raspberry and Blackberry patches that produce from June to September.10' x 14' storage shed in yard. Cement Driveway Everything you need and then some

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