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If you plan to attend an open house, it usually pays to be prepared. That way, you'll know exactly which questions to ask during an open house and can ensure that you can gain the insights that you need to determine whether a residence is right for you.

Now, let's take a look at three key questions to ask a listing agent during an open house.

1. Why is this home for sale?

Although a home listing provides plenty of information about a residence, it is unlikely to explain why a homeowner is selling his or her house. Thus, you should use an open house to find out exactly why a home is for sale.

In many instances, a listing agent will be honest and forthright about why a homeowner has decided to add his or her residence to the real estate market. Once you receive an answer to your query, you can better understand whether a house matches your expectations.

On the other hand, if a listing agent hesitates or shies away from your question, you should be skeptical. At this point, you should continue to dig for more information about a residence to learn about any potential flaws.

2. Are there any home problems that I need to know about?

An open house enables you to get an up-close look at a residence. Furthermore, the event allows you to find out about a residence's pros and cons from a listing agent.

Ask a listing agent about any home problems – you'll be glad you did. The listing agent should be able to provide you with plenty of insights into a home's condition, ensuring you can make an informed decision about whether to submit an offer.

A listing agent is likely to be honest with you about any problems with a house. By doing so, this agent will reduce the risk of a homebuyer later rescinding an offer after a home inspection.

3. Have there been any offers on the house?

It is important to find out if there is any competition for a house, especially if you discover your dream residence. Thus, during an open house, you should ask a listing agent if any offers have been submitted on a residence.

If a listing agent responds "Yes" to your query, you may want to act fast to submit a competitive offer on a house. Because if you wait too long to make an offer on your dream residence, you risk losing this house to a rival homebuyer.

Lastly, if you need help getting ready for an open house, you should collaborate with a real estate agent. This housing market professional can provide deep insights into a residence before you attend an open house. Therefore, a real estate agent will help you take the guesswork out of getting the most out of any open house, at any time.

Want to optimize the value of an open house? Ask the aforementioned questions, and you can get the information that you need to fully evaluate a residence.


Photo by Evan Dvorkin on Unsplash

A conventional loan is the most common type of mortgage used to secure a home purchase. Conventional loans are backed by private lenders and typically conform to the standards established by Fannie Mae and Freddie Mac. In order to qualify for a conventional loan, you must meet several specific requirements. 

1. Debt-to-income ratios. 

In order to qualify for a conventional loan in a specific amount, you must meet the lender's established debt-to-income ratio requirements. This means that you must show that the ratio of your revolving monthly debts to your monthly income does not exceed a certain percentage. 

2. Down payment. 

To qualify for a conventional loan, you must typically make a large payment upfront known as a "down payment." Ideally, this payment should equal at least 20 percent of the cost of the home. However, if you cannot pay 20 percent down upfront, a smaller down payment may be acceptable. If your down payment is less than 20 percent, the lender may require you to pay mortgage insurance, which will increase your monthly payment amount. 

3. Credit score. 

To qualify for a conventional loan, you must have a decent credit score. The minimum credit score required is usually around 640, but exceptions can sometimes be made for a lower credit score. It is important to note that your credit score may have an impact on your mortgage interest rate. In general, borrowers with higher credit scores will qualify for better interest rates than borrowers who have lower credit scores. 

4. Income stability. 

Before your conventional loan can be approved, your lender will want to see evidence that you have a reliable source of income. Your lender may ask to see records of your employment history, as well as evidence that your job is expected to continue. 

5. Loan limits. 

Conventional loans are subject to limits with regard of the maximum amount you can borrow. Your loan must fall within these limits in order to qualify for your lender's program. The specific limit varies according to your location. 

6. Credit history. 

Before approving your loan, your lender will review your credit history. If you have negative entries, such as missed payments or accounts in collections, you may be asked to provide an explanation. 

Requirements for conventional loans may vary by lender. Some specific borrowers, such as those with a short employment history, may also need to meet additional requirements. To find out the exact requirements you must satisfy, contact a lender to discuss your desired loan. 



7 Lost Hill Dr, Medway, MA 02053

Single-Family

$669,000
Price

9
Rooms
4
Beds
2/1
Full/Half Baths
Distinctive 4 BR,2.5 BA Colonial with excellent end of cul-de-sac location has lots to offer inside and out! Open,freshly painted kitchen(2/2020) features granite counter tops and stainless appliances, large open fireplaced family room with cathedral ceilings and a welcoming dining room both with gleaming hardwoods.First floor office and bonus room with French doors. The upstairs features a stately master bedroom with master bath that has been recently painted, updated with granite,and professionally painted cabinets.The second upstairs bath was also recently painted with new granite countertops and professionally painted cabinets.The outside features lovely landscaping complete with mature perennials including hibiscus, holly, peonies, lilies, johnny-jump-ups & rhododendrons.Wonderful deck overlooking the inground pool with looplock pool cover for relaxing and entertaining! Great commuter location approximately 2 miles from 495 and close proximity to shopping and MA pike.Welcome home!
Open House
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216 Village Lane, Bellingham, MA 02019

North Bellingham

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$457,900
Price

5
Rooms
2
Beds
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THIS IS 1 OF 2 FOR SALE. Schedule showing. 1 buyer couple at a time. Immediately upon entry all must use hand sanitizer provided. Use shoe covers or remove shoes. BEAUTIFUL RANCH STYLE / TWO CAR GARAGE MIDDLE UNIT... Desirable North Bellingham Location for this 55+ Community for Hartford Village II featuring: ENERGY STAR BUILT, Beautiful Custom Built Contemporary Ranch Style, Desirable Open Floor Plan/Great Room, Upgraded Kitchen & Cabinets with Granite Counters, Hardwood Flooring in the Great Room/Main Living Area, THIS UNIT HAS HARDWOOD IN THE BEDROOMS and an added GLASS SHOWER DOOR IN THE MASTER BATH, Gas fireplace with Custom Built Mantle, Open Stairway to Lower Level with Option to finish and add up to 1000 SF Bonus Living Area with Walkout. Economical Natural Gas Heat, Two Car Garage, A/C, Master Bedroom with Trey Ceiling, Full Bath with Step-in Shower & Custom Walk-in Closet. Over sized doorways for easy access. Minutes to Shopping, Routes 495, MA Pike.
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213 Village Lane, Bellingham, MA 02019

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Request your secure showing. Entry of one couple at a time. Immediately upon entry all must use hand sanitizer provided. Use shoe covers or remove shoes. RANCH STYLE WITH TWO CAR GARAGE MIDDLE UNIT... Desirable North Bellingham Location for this 55+ Community Hartford Village II featuring: Energy Star Built and Certified, Beautiful Custom Built Contemporary Ranch Style, Desirable Open Floor Plan, Upgraded Kitchen & Cabinets with Granite Counters, Kitchen Island, Hardwood Flooring throughout the Great Room/Main Living Area, Gas fireplace with Custom Built Mantle, Open Stairway to Lower Level with Option to finish and add up to 1000 SF Bonus Living Area. Economical Natural Gas Heat, Two Car Attached Garage, Central A/C, Master Bedroom with Trey Ceiling, Over sized doorways for easy access. Minutes to all Shopping, Routes 495, MA Pike, Franklin T. Brochure Available. Economical Gas service to be connected w/propane gas being temporary. Photos are of prior construction
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