Sullivan & Company Real Estate, LLC | Brimfield Real Estate, Sturbridge Real Estate



6 Michael Drive, Palmer, MA 01079

Condo

$239,900
Price

7
Rooms
2
Beds
2/1
Full/Half Baths
Maintained to perfection! This condo is an end unit with beautiful custom garden patio in rear. First floor offers master suite, kitchen, living room, dining room, one and a half baths and laundry. Second floor has 2nd bedroom, full bath and large loft den area. Nicely finished lower level for additional living space. Plenty of storage throughout, all with easy access to major routes in a well maintained 55+ community.
Open House
Thursday
April 25 at 4:00 PM to 5:30 PM
Cannot make the Open Houses?
Location: 6 Michael Drive, Palmer, MA 01079    Get Directions

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9 Lake Shore Dr, Wales, MA 01081

Single-Family

$37,500
Price

5
Rooms
2
Beds
1/1
Full/Half Baths
Handy man special. This charming cottage is walking distance to Lake George. Home needs work but has a great yard and great potential. Don't miss this opportunity to own a year round or seasonal/vacation cottage with lake views of beautiful Lake George. Sold AS IS.
Open House
No scheduled Open Houses

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This Land in Spencer, MA recently sold for $22,000. This style home was sold by Office Sullivan - Sullivan & Company Real Estate, INC.


Lots 3 I Capen Rd., Spencer, MA 01562

Land

$28,000
Price
$22,000
Sale Price

10.48
Acres
Residential
Land Type
10+ acres of woodlands, serene marshland and a beautiful knoll towards the rear overlooking the protected area. Just $28,000 to find the best of both worlds over 600' of road frontage and 10+ acres of privacy.. your own nature sanctuary for wildlife viewing from your new home.




While buying a home is a huge decision that should entail a lot of planning and preparation, applying for a mortgage can be surprisingly easy. Just like with other lenders and creditors, a mortgage lender will want to know that letting you borrow money will be a safe investment. Applying for a mortgage is all about ensuring just that.

In today’s post, we’re going to breakdown the home loan application process to help you have the best chances at a smooth and successful mortgage approval. We’ll also define some of the common terms used in mortgages that might leave you scratching your head so you have a better idea of what your options are.

Prequalification and Preapproval

Getting prequalified and preapproved for a mortgaged can both be helpful steps toward securing your home loan. The two terms mean two entirely different things, however.

In order to be prequalified for a mortgage, you typically need to only fill out a simple form (sometimes directly through a lender’s website). On this form, you won’t need to provide specifics or official documents.

Why is this process so simple? Well, that’s because getting prequalified for a loan doesn’t ensure that you’ll actually receive one. Rather, it is simply the first step toward finding out what type of mortgage and interest rates you could receive.

The next step after prequalification is preapproval. To get preapproved, you’ll have to fill out an official mortgage application. Your lender of choice will request a few pieces of information from you, including tax returns, proof of employment for the last two years, and a list of your debts. The lender will also perform a credit check to determine your loan eligibility.

Credit report

At this phase, lenders will also run your credit report. This is a type of “hard credit inquiry” that details your payment history, the number of accounts you have open, and other factors that help make up your credit score.

To secure the lowest interest rate possible, it helps to have a high credit score. So, in the years and months leading up to your mortgage application, focusing on building credit will pay off.

To increase your credit score, you’ll need to focus on paying your bills on time each month. You should also avoid opening new accounts within a few months of applying for a mortgage because this will count as a new credit inquiry. New credit inquiries--including applying for a mortgage--lower your score temporarily, so it’s best to avoid them when possible.

Additional paperwork required for mortgage applications

Not every mortgage application will be the same. Depending on the type of income you receive, you may need to provide different forms of income verification.

Each person will also have to claim different debts and assets. When buying a home with a spouse or partner, it’s important to consider your debts, assets, and credit scores to determine if it’s better to apply jointly or separately.


This Single-Family in Wales, MA recently sold for $264,000. This Cottage style home was sold by Office Sullivan - Sullivan & Company Real Estate, INC.


55 Fountain Rd, Wales, MA 01081

Single-Family

$289,000
Price
$264,000
Sale Price

5
Rooms
2
Beds
1
Baths
Enjoy the serenity at the end of the lake, off the beaten path. This is one of the original Fountain family's personal summer homes sitting at the end of the peninsula. Looking for more space? This home is on 1.43 acres and may be possible to expand. Lake George is a 95 acre "windy lake" that was known for sailing regattas in the 1940's Today it has become a popular location for vacation homes. Full recreational lake and nice yard for entertaining. The lower level walkout has a finished room for entertaining and lakeside changing room. Good weekly rental history makes this an excellent investment. Use is when you have time and rent out for alternate weeks.






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