American Mortgage Resource, Inc.

Providing the Best Financial Resources for Boston and Massachusetts

Tag: Real Estate

How to Buy a House in 2022

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Buying your first home can be a roller coaster of emotions. This is especially true in these times of a competitive market, making 2022 a rough year to buy a home. It is imperative to understand the basics of the entire process thoroughly. This will help you and your family make an informed decision in the right direction. It is better to have the knowledge for the sake of your family and your financial situation. We have made a step-by-step guide for how to buy a house in 2022.

Step 1: Figure out your financial situation.

Before you start looking for a house, make a detailed and thorough analysis of your financial situation. It will help you make certain decisions easily. For example, you must ask yourself what your price range is, how much you are willing to pay as a down payment, what installments plan you will take, and so on. With all the basic questions answered you will have a clear vision of what you can afford.

Step 2: Obtain a pre-approval for a home loan.

For the first time home buyers, there is an excellent initiative that you can take advantage of including special mortgage plans like FHA Loans. They come with lower interest rates and down payments. With a credit score of 580, you can qualify for a down payment to be as low as 3.5%.

For example, through FHA Loans, you can get a $200,000 house with the installment as low as $7,000. That is better than the traditional 20% down payment rule.

Step 3: Get yourself a real estate agent.

An excellent real estate agent will get you through the technicalities and legalities of the home buying process. They will also show you around other properties in their listings that fits your requirements and agreed upon rates. A once arduous task will now be easy with the help of an experienced professional. The agent will also be taking care of all the paperwork for you, so you can just relax and look for your dream home.

Step 4: Make in-person visits to potential properties.

You can easily look up all the available properties on the internet, but we recommend attending open houses and checking out your potential home in-person. This will broaden your understanding of the market and you might discover some new things along the way. Going in-person to houses might help you get a great deal.

Step 5: Make an offer they can’t refuse.

At this step, we assume you have already landed on your favorite property. It is just a few steps away from being your dream home. This is where your agent comes in to assist. They can help with negotiating the price down. To be concise, make the homeowner an offer that they can’t refuse while still keeping your budget in mind.

Step 6: Close the deal.

It is time to close the deal. You have finally decided on the mortgage plan that you will opt for and have had the house appraised. Schedule a closing date with the home seller. Keep in mind that closing costs are approximately between 2% to 5% of the price of the house. Once it is all said and done, you will be handed over the keys to your new house and that’s how you become a homeowner.

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Buying your first home can be a tedious and nerve-wracking experience. All the technicalities and paperwork involved in the process are time consuming. It is better to have a professional take care of this entire procedure. American Mortgage Resource, Inc. is a licensed home mortgage broker with the best loan options and deals in the market. We will take care of everything in your home buying journey. The only thing that you will do is choose your favorite home. Check out our website or give us a call at (617) 972-8588 to avail our services.     

Open House Red Flags to Watch Out For

Touring open houses can be exciting as you consider the prospect of finally becoming a homeowner. However, you should be prepared to look into many different properties and spend some time inspecting the fine details. While homes on the market will look great presentation-wise, lazy sellers may be hiding disastrous and costly flaws. Here are some red flags you should always look out for when inspecting a home for sale.

Cracks in the Floors and Walls

Any cracks in the floors or walls indicates that there might be structural problems at hand. Additional things to look for are sticking doors or windows, cracks along window frames, and uneven floors or tiling. Any major gaps will lead to costly and extensive repairs.

Any Unusual Paint Cover-ups

It’s expected that when it comes to preparing a house to sell, applying a fresh layer of paint to the interior and exterior walls is a common practice. As a potential buyer, you definitely want a home that has been properly refreshed. However, some sellers may use paint to cover up problems rather fix it. This can include hiding any mold and mildew spots, water damage from leaking pipes, termite damage, etc.

If you notice unusual fresh paint spots, it may mean they’re trying to hide something – especially if it looks like it’s an older home that hasn’t been renovated. You should ask the seller why the job was done.

Electrical and Plumbing Issues

When doing your walkthrough of the open house, always remember to check the condition of the electrical panel, any exposed wires, the number of outlets in each room, and any other potential hazards. You’ll also want to eyeball the plumbing such as the pipes under the sink. This is a common place for leaks and water damage.

Hire a Professional Home Inspector

You may think you have a good eye, but home inspectors are trained to have an even keener perception. Appearances can be very deceiving, and an expert will be able to identify any major flaws that the seller or landlord is trying to cover up. This will save you a lot of money down the line and give more leverage in potentially renegotiating the offer on the house. If the home inspector identifies any drastic problems that will be more than you can handle, it’s better to just walk away and consider a different house.


We hope these tips will assist you in finding your dream home within your budget. If you’ve finally settled on that perfect property and are now looking for financing and loan options, our professionals can help. American Mortgage Resource, Inc. is the number one source for reasonable home loans and expert support. Get in touch with our team today!

Beautiful Bostonian Buildings

Founded in 1630 by Puritans seeking religious asylum, Boston is one of the oldest cities in the United States. Its long and storied history includes a pivotal role in the American Revolution, and one of the most iconic events leading up to that conflict: the Boston Tea Party. As America grew and expanded as a country, so did the city of Boston. Today, Boston is a cosmopolitan center of commerce, technology, and medicine. Over 4 million people live in the greater Boston area.

You’re passively taking in centuries upon centuries of history, simply by taking a walk along the streets of Boston! If you’re a Bostonian, or looking to settle down in the city known as Beantown, the beautiful, historic architecture is one of the more prevalent appeals of this iconic city. This blog will take a look at a couple of Boston’s most storied, beautiful buildings.

Custom House Tower

Boston’s original skyscraper, the Custom House Tower, was originally not intended to be a skyscraper at all! Initially dubbed the U.S. Custom House, the building (sans tower) was completed in 1847, sporting Roman columns around the exterior and composed mostly of granite. The original building’s most striking aspects lay on the inside, as opposed to the outside. A rotunda, or circular ground room, greeted visitors inside, finished with white marble. Looking up revealed a skylit dome, likely to the delight of many historic visitors.

Unfortunately, the building was rendered obsolete by the 20th century. The Custom House needed a face lift to regain traction, and it received much more due to a number of fortuitous circumstances. The famous architects at Peabody & Sterns proposed constructing a new clock tower, on top of the existing building. This would not have been possible due to zoning laws at the time, but the House was owned by the federal government, which meant that it could bypass zoning laws that restricted buildings from rising above 125 feet.

The new tower ended up bypassing this restriction by an egregious amount; by the time Peabody & Sterns finished construction in 1915, the Custom House Tower – as it was now called – it stood an impressive 495 feet tall! The tower was by far the tallest building among the Boston skyline for almost 50 years, when the Prudential Tower was finished.

With this beautiful new addition, complete with an intricate clockwork system at the top, the building enjoyed usage from various federal groups. From 1986 until 1997, the tower was unused, standing alone as a beautiful, albeit seemingly obsolete, part of the Boston skyline. In 1997, it gained a new usage as a Marriott hotel and has remained there since.

City Hall

One of Boston’s most iconic buildings, Boston’s own City Hall doesn’t quite owe its popularity to aesthetically pleasing design and impressive use of color. In fact, City Hall is the subject of constant debate over its appearance, and whether its blocky, austere nature is a welcome addition to the city’s landscape, or a blemish on it.

City Hall is an example of Brutalist architecture, a style which originated in the 1950s. This style makes extensive use of poured concrete, which is visible in City Hall’s exterior as well as its interior. Completed in 1968, the building’s small windows and lack of curvature further contribute to its stiff, austere look. Compared to the classic beauty of Old City Hall, a building that still stands in Boston, the transition from the old building to the new one was met with shock and disdain from citizens and architects alike.

Coincidentally, “brutal” may be a term that comes to mind when you take in City Hall’s blocky shape, heavy use of straight lines, and overall rigid design, which extends all the way to the thin windows and columns. However, the term “brutalism” does not come from the word “brutal,” but rather from the French term “Béton brut,” which means “raw concrete.” This refers to the unfinished concrete that makes it onto the final design of a building. This is an essential part of City Hall’s design. Whether you think City Hall is beautiful or not, it’s undeniable that it stands as an important architectural monument, as well as serving a vital purpose to the city.


The city of Boston houses countless historical buildings, many of which are as beautiful to observe as they are to learn about and explore. This feeling of storied beauty extends to Boston’s housing market, which contains a bevy of old-fashioned and cutting-edge homes alike. If you’re on the market for a home in Boston, you’ll want an agent that can help you secure a property at a great price. Visit our website at to see how you can settle down in one of America’s most iconic cities!

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!


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!

The Benefits of Refinancing your Current Mortgage

You absolutely love your home, but would be happy to see your mortgage rates drop. There are so many things that are on your list of things to pay for, including paying off expensive debts and saving for important events coming up in your life. If you are dissatisfied with your current mortgage terms and fees, it might be worth your while to consider refinancing your mortgage in favor of more desirable rates. In this blog post, we will further define refinancing and the ways it could help you save money on your home.

What is Refinancing?

Homeowners utilize this strategy to achieve their respective financial goals. Typically, people refinance their loans in order to acquire lower interest rates or to alter the terms of the mortgage itself. Refinancing your mortgage can also help you change your variable loan rate to a fixed one, which will provide you with more peace of mind. The initial loan gets paid off by the bank, then another loan can be created with new guidelines. It is recommended that you have a great credit score when attempting to refinance your home because this will ensure you get reduced interest rates. Those with a low credit score might end up with higher rates if they attempt to refinance, so it is important that you are aware of your own score. With time, people’s earnings tend to increase, which allows them to pay their bills more quickly and expand their credit score; this is the time to consider refinancing.

Advantages to Refinancing

The biggest benefit of refinancing your mortgage is achieving lower interest rates on your monthly mortgage payments, which will allow you to put your money toward your other priorities. You will be astounded by the hundreds of dollars you save annually with a refinance. Another reason people decide to use this strategy is because they are looking to secure enough money for a substantial purchase in their life, be it a car or paying off credit card debt. To do this, they refinance with the aim to get equity out of their home. First, an accurate appraisal is required, then the lender determines the percentage of the appraisal that they will loan out. Finally, the amount that was owed on the original mortgage is subtracted so it can be paid off. The homeowner is then left with the remaining balance to pay off their newly refinanced loans.

Are There Risks to Refinancing?

It is important to do thorough research to determine your potential savings prior to making this big decision. If you do choose to refinance your mortgage, there is the possibility that you will need to pay new closing costs. In addition, it is recommended that you hire a lawyer to help make sure you get the best deal possible. Along with inspection fees and application fees, refinancing your home might end up costing more than staying with your current mortgage costs.


Finding a way to lower the interest rates on your mortgage can seem overwhelming, but it can save you a significant amount of money in the long run. A qualified mortgage broker will make the entire process much simpler for you, so you can focus on more pressing things in your life. If you are looking for a home mortgage broker to help you make the best financial decisions for you and your family, you can count on us at American Mortgage Resource. We look forward to serving your financial service needs.