American Mortgage Resource, Inc.

Providing the Best Financial Resources for Boston and Massachusetts

Tag: FHA Programs

Most Affordable Communities to Buy a Home in Waltham, MA

Just west of Boston lies Waltham, MA, a quaint and scenic small town centrally located in between 3 major highways. Through its southern end flows the Charles River and as you head north you’ll find that it’s also home to several colleges, parks, and even a music theatre.

Piety Corner Historic District

Piety Corner Historic District is a quiet area in town adorned with red brick buildings and parks. Most homes in this area are bungalow, colonial, and ranch style homes in addition to the common condo. This community is great for local hiking and outdoor recreation at parks like Prospect Hill Park. Piety Corner is also very kid-friendly, with schools for kids of all grade levels nearby.

The South Side

The South Side is a large yet quiet suburb style community filled with many single family homes and gorgeous condos. This part of town is separated from the rest of town by the Charles River, giving the South Side and its surrounding communities a private and secluded feel.

Banks Square

A popular and affordable neighborhood in Waltham is Banks Square. This community is known for its charming neighborhoods filled with condos, townhomes, and single family homes. Though this area is set back slightly further away from most schools, it is only blocks away from the town’s main street, which is a popular hub for shopping and dining.

Final Thoughts

Waltham, MA is a fantastic place for new and growing families due to its affordability and number of parks and private/ public schools. Just outside the desirable Piety Corner community lies your one stop shop for home loans, mortgages, and refinancing in Waltham. At American Mortgage Resource, Inc. you will receive personalized home buying support from highly skilled experts that are also members of the local community.

Saving While Renting: How to Save For a Home While Paying Rent

The idea of saving up for a home is an exciting one. You picture having your own yard that can host plenty of barbecues and your own space to make as much noise as you want without worrying about waking up the neighbors. But until this dream can become a reality, you have to save up for the down payment while paying the sky-high cost of rent. It might seem impossible to accomplish such a large savings goal while paying monthly rent, but it is possible with a few adjustments. Below we list a few ideas to help accelerate your savings!

Pay Debts and Set up A Savings Account

The more you pay down your debts before purchasing a home, the better you can free up extra funds for say, an emergency home repair. Being debt-free can also help raise your credit score, allowing you to get better rates for your mortgage. Setting up a savings account designated for your down payment is another great way to speed up your savings efforts. When you set up an automatic savings, the money is gone from your account without realizing it was even there!

Get a roommate

Splitting costs with a roommate is a great way to free up funds for a down payment. You can split bills such as gas, cable, water, and electricity along with the cost of rent. Want to save even more? If your apartment or home you are renting accommodates it, having multiple roommates will really crank up the savings by splitting the costs three or four ways!

Get a Second Job

It might sound daunting having a second job outside of your full-time position, but nowadays there are plenty of side gigs you can do that won’t inconvenience your personal life at all! If you have a particular skill, such as home repairs or graphic design, you can advertise your services on the many freelance websites available to earn extra money during your free time.

Prepare Your Own Meals

An average lunch out can cost you about $10.00 a day and eating out for dinner can be much higher! You can easily save a few extra dollars a month by limiting how often you eat out. Preparing meals at home costs less and batch cooking ahead of time will ensure food is prepared for even the busiest days. You can have leftovers for lunches the next day and packing a few healthy snack options will save you from visiting the vending machine throughout the day.

Cut Back on Cable

The cost of cable nowadays is sky high! With the added service fees, you end up paying a bundle for a service you no longer really use. With more affordable streaming services available, you can easily drop your monthly cable service and still watch your favorite shows when it is convenient for you. Not only will you lose any bulking equipment, you will lose that bulky bill as well!

Conclusion

Saving up for a down payment while paying rent takes time and effort, but with a few lifestyle adjustments, you will be amazed at the amount of money you can put away to buy a new home. When you are ready to purchase a home, make sure to seek out a reliable mortgage company for the best rates possible. The experts at American Mortgage Resource, Inc. are here to help you purchase the home of your dreams!