David Tellier - Cameron Real Estate Group



Posted by David Tellier on 8/23/2018

Credit is tied to most big financial decisions you will make in your life. From things as little as opening up a store card at the mall to buying your first home, your credit score is going to play a factor. When it comes to mortgages, lenders take your credit score, particularly your FICO score, into consideration in†determining the interest rate that you will likely be stuck with for years. How is your credit score determined and what can you do to use it to get a better rate on your mortgage? We'll cover all of that and more in this article.

Deciphering credit scores

Most major lenders assign your credit score based on the information provided by three national credit bureaus: Equifax, Experian, and TransUnion. These companies report your credit history to FICO, who give you a score from 300 to 850 (850 being the best your score can get). When applying for a mortgage (or attempting to be pre-approved for a home loan), the lender you choose will weight several aspects to determine if they will lend money to you and under what terms they will lend you the money. Among these are your employment status, current salary, your savings and assets, and your credit score. Lenders use this data to attempt to determine how likely you are to pay off your debt. To be considered a "safe" person to lend money to it will require a combination of things, including good credit. What is good credit? Credit scores are based on five components:
  • 35%: your payment history
  • 30%: your debt amount
  • 15%: length of your credit history
  • 10%: types of credit you have used
  • 10%: recent credit inquiries (such as taking out new loans or opening new credit cards)
As you can see, paying your bills and loans on time each month is the key factor in determining your credit score. Also important, however, is keeping your total amount of debt low. Most aspects of your credit score are in your control. Only 10% of your score is determined by the length of your credit history (i.e., when you opened your first card or took out your first loan). To build your credit score, you'll need to focus on lowering your balances, making on-time payments, and giving yourself time to diversify your credit.

What does this mean for taking out mortgages?

A higher credit score will get you a lower interest rate. By the time you pay off your mortgage, just a hundred points on your credit score could save you thousands on your mortgage, and that's not including the money you might save by getting lower interest rates on other loans as well. If you would like to buy a home within the next few years, take this time to focus on building your credit score:
  • If you have high balances, do your best to lower them
  • If you have a tendency to miss payments, set recurring reminders in your phone to make sure you pay on time
  • If you don't have diverse credit, it could be a good time to take out a loan or open your first credit card
When it comes time to apply for a mortgage, you'll thank yourself for focusing more on your credit score.




Tags: credit score   Mortgage   loan   home loan   credit  
Categories: Uncategorized  


Posted by David Tellier on 8/16/2018

Everyone is looking for something different when it comes to finding the ideal home. While some people prioritize architectural styles and curb appeal, other house hunters place the most value on the quality of the school district and proximity to jobs.

Neighborhood quality is also a significant factor in house-buying decisions. What exactly does "neighborhood quality" mean, though? Although definitions may vary, the characteristics that are typically considered to be desirable include a low crime rate, relatively light street traffic, a minimal amount of "noise pollution," and neighborhoods in which houses and properties are consistently well cared for and in good condition.

If peace, quiet, and tranquility are high on your list of house-buying requirements, here are a few other items you might consider adding to your "wish list."

Space between neighbors: While it's generally a good thing to get to know your neighbors on a first-name basis, you don't necessarily want to get to know them too well -- or vise versa! In other words, it's nice when you can sit out on your back porch without having to be too concerned about being overheard or needing to edit your conversations. If privacy is a top priority for you, then you might want to limit your search to properties that provide a comfortable buffer zone between houses.

Greenery and privacy hedges: A residential street with green, well-tended lawns and mature, leafy trees is not only visually appealing, but it's also a sign that people take pride in their property and care about the neighborhood. Homes for sale that offer a "park-like setting" on a nice street can be the ideal environment for creating a private, backyard refuge.

Fireplaces: Even if a fireplace is not on your "must have" list, it's a relatively inexpensive luxury to have and enjoy during the holidays and when the temperature drops. Regardless of the climate in which you live, there are going to be plenty of wet, cloudy, or snowy days during the winter months. When the weather turns chilly, there's nothing like a crackling fire in the fireplace to infuse your home with a cozy, relaxing atmosphere!

Large windows: Large bay windows, picture windows, and floor-to-ceiling windows not only let in a lot of natural light, but they also help you enjoy views of your neighborhood and backyard. That combination of sunshine, green foliage, a well-landscaped property, and the smell of freshly cut grass can set the tone for a relaxing home environment -- both indoors and out! Along those same lines, a sunroom can also be a highly desirable feature in a new home you're considering buying.

Although there are a ton of things you can do to enhance the beauty and relaxation value of your next home, the starting point is to find a peaceful neighborhood and a spacious, nicely landscaped property on which to add your own personal touches.





Posted by David Tellier on 8/9/2018

The biggest area of your life that you need to understand before you buy a house is your own finances. Before you know what kind of house you can buy, youíll need to understand your own buying power. While things like square footage, how many bedrooms you need, and finding the right neighborhood are important, you canít go very far without some type of financing. While understanding how much you can spend on a property is one of the more serious parts of buying a home, itís something that youíll want to do. Knowing what you can spend on a home is a step to helping you land a home you love. If you understand your own numbers, youíll know the chances that you have of an offer being accepted on a place you love.  


The Elements Of Your Buying Power


Your Credit Score


This little three digit number has a lot of meaning behind it. This is the most basic piece of information that lenders use to determine your loan worthiness. The factors that influence your credit score include:


  • Payment history
  • How much you owe
  • Length of your credit history
  • Mix of credit accounts
  • How much new credit you have opened


A low credit score is somewhere under 620. Having a score this low doesn't necessarily mean that youíll be denied for a loan, but the type and amount of the loan youíre offered can be impacted. Youíll also face higher interest rates because of a low credit score. This means your mortgage could be considerably more expensive than if you had a higher credit score. 


Down Payment


The 20 percent down as a rule of thumb actually offers many benefits to your buying power. This means that youíll need 20% down of the purchase price of the home in cash. If you put this amount of money (or even more) down on a home, it eliminates the need for you to have to buy PMI (Private Mortgage Insurance). Youíll even be able to negotiate a lower interest rate. A large down payment may be especially helpful in competitive markets where there is a lot of buyer competition.


How Your Financial Picture Appears


Your assets and your debt-to-income ratio are also important factors in your financial picture that you present to the lender. Basically, all of these numbers let both the lender and the seller see how committed you are to buying a home. It is one of the biggest financial undertakings of your entire life. If you canít show financial responsibility, then it may be a bit difficult for lenders to see that youíll actually pay your loan back in a timely manner.


The better all of your financial numbers are, the more buying power that youíll have. If your numbers are good, youíll be able to afford more house. While it may not be the most exciting thing to look over all of your financial numbers, itís a vital step in the process of your journey to home ownership.




Tags: Buying a Home   finances  
Categories: Uncategorized  


Posted by David Tellier on 8/2/2018

Buying a new television can be a daunting task. With technologies changing so rapidly, it can seem like you need to take a new crash course in the latest tech trends every time you buy a new product.

 However, a TV is an investment that youíll get a lot of use out of if you and your family spend a lot of time in the living room. And, since most new televisions come equipped with apps like Netflix and Hulu, itís worth taking time to learn which one is suitable for your family and that fits within your budget.

 In this article, weíll give a brief breakdown of the latest trends to help you choose the right TV for your living room.

Screen size

At one time, the size of your television was the best indicator of price. But these days youíll find TVs that are the same size but vastly different prices. Thatís because TVs now contain a number of features related to audio and video quality, and smart TV capabilities like apps and games.

However, screen size still does matter when it comes to video quality, fitting the layout of your living room and your personal preferences. If you arenít sure what size youíll need, try visiting an electronics store and standing as far back from the tv as your couch or sofa. You can also try this at a friendís house who has a similar setup to you.

Remember that having a huge TV isnít always the best option if youíre in a small room. For most living room setups, the ideal size is somewhere between 55 and 65 inches.

Video quality

Many of us have a collection of DVDs somewhere in our house that we save for a rainy weekend. It might surprise you to know that the quality of a DVD is lower than most streaming videos on the internet these days.

Video quality is based on a few factors and one of them is resolution. Screen resolution has improved exponentially in the recent years. What resolutions are available?

  • 4K or Ultra HD - The current gold standard of screen resolutions is 4K, which contains a whopping 8 million pixels.

  • 1080p or HD - Still one of the most common resolutions, 1080p can be found in many recent models and can look at sharp as 4K televisions.

  • 720p - Only the smallest and most inexpensive televisions are still using 720p resolution sizes. However, if you only use your television for watching cable channels, it should be noted that many major networks broadcast in 720p.

To effectively ďfuture-proofĒ your TV, 4K is your best option. It is slowly becoming the standard for video and will last the longest without looking antiquated.

There are other aspects of picture quality than resolution. The way the TV is lit os one consideration. Most TVs on the market today are LED-based. In LED TVs, a backlight produces the light for each pixel. One exception is OLED TVs in which each pixel is producing its own light.

The jury is still out on which is better, but OLED seems to have a leg up on LED.

Other features

The other things youíll want to consider are a curved screen, Smart TV capabilities, BlueTooth, and the number of HDMI ports. These are all dependent on your preferences, but it should be noted that as TVs evolve, you might not have access to some newer apps.




Tags: television   TV   buying a tv  
Categories: Uncategorized  


Posted by David Tellier on 8/1/2018

This Single-Family in Leominster, MA recently sold for $280,000. This Colonial style home was sold by David Tellier - Cameron Real Estate Group.


54 Walnut St, Leominster, MA 01453

Single-Family

$284,900
Price
$280,000
Sale Price

7
Rooms
3
Beds
1/1
Full/Half Baths
Best Value in Town! This Lovely Colonial home was built in 1999. It features 3 bedrooms, 1 ½ bath and approximately 1800 sf of living space (including finished basement). It has a Large eat-in kitchen, first floor laundry and Gas fireplace in the living room. The large walkout basement has been nicely finished and opens out to a patio and fenced in backyard. Solar panels generate much of the electricity needed to run the house throughout the year at an attractive price.

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Categories: Sold Homes