Marjorie Youngren Team | Lynnfield Real Estate, Melrose Real Estate, Middleton Real Estate


If you are thinking of refinancing your mortgage, there are so many options available to you that address your needs. Whether you want to do some home improvement projects or provide a down payment for another property refinancing can be a good option for you. There are many different options when it comes to home loans and refinancing. Below, you’ll find some of the most popular choices and what they mean for your mortgage and your finances. 


Standard Refinance


A standard refinances requires that you have a certain amount of equity in your home. If you want to avoid Private Mortgage Insurance (PMI on the refinance, you need 20% equity in the home. Different lenders have different requirements for the amount of equity that you need in order to do this primary refinancing of your home loan. Keep in mind that a good credit score is also a requirement to do this type of loan.


Refinancing With Cash Out


This option is great when you need to take some of the equity out of your home. This way, you can get some of the equity out of your home without selling the house. This way, you’re able to refinance the mortgage, get a good loan term that’s affordable, and borrow a part of the equity you have built up in your home.


You can use the cash that you take out for just about anything you need including college, home renovations, business start-up costs, or to consolidate other debt you have. The only drawback is that you’re not able to borrow 100% of your equity. Usually, the highest percentage you’re eligible to borrow is 80%. The amount is based on both the equity you have built up in your home along with your income. Also, keep in mind that after you take out one of these loans, the amount of equity you have in your home decreases.  


Short Refinance


Short refinances may not be offered by all lenders. If you don’t qualify for a HARP loan or standard, refinance this could be a good option for you. If you hope to avoid foreclosure and are struggling to pay your mortgage each month, your lender may agree to the terms of this type of loan. The loan is in effect is a combination of a short sale and a refinance. The lender agrees to pay the existing mortgage off. The loan s replaced with a new mortgage. Beware that if you choose this option, your credit score may go down significantly. If you’re able to keep up with the new mortgage payments, you’ll be able to repair your credit score over time.         



This Single-Family in Bedford, MA recently sold for $1,180,000. This Colonial style home was sold by Marjorie Youngren Team - William Raveis Real Estate.


114 Davis Road, Bedford, MA 01730

West Bedford

Single-Family

$1,158,000
Price
$1,180,000
Sale Price

12
Rooms
5
Beds
2/1
Full/Half Baths
One of the prettiest homes on Davis Road is being offered for sale for the first time! We have always loved the presence of this classic New England colonial, perched above a small pond that adds to the ambiance! Impeccably maintained and updated, this home has SO much to offer. The custom, updated kitchen is the heart of the house and provides cherry cabinets, quartz counters, tile backsplash, & a great island! There is even a fireplace that adds to the warmth and character of this room. Adjacent is the front to back living room, also w/ fireplace w/ custom mantle and beamed ceiling. The mudroom space on this floor will please everyone & it connects to the awesome sunroom that leads to the patio and beautiful yard, all facing south with great light! You'll find 4 bedrooms upstairs & an updated full bath. There is also a family room, with yet another fireplace, in the LL. This home also provides a rare, legal accessory apartment w/ its own entrance, kitchen, bath, LR, bedroom & deck!

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This Condo in Boston, MA recently sold for $310,000. This Garden style home was sold by Marjorie Youngren Team - William Raveis Real Estate.


1629 Commonwealth Ave, Boston, MA 02135

Brighton

Condo

$299,900
Price
$310,000
Sale Price

2
Rooms
0
Beds
1
Baths
Gorgeous brick building located in the heart of Brighton! Located on the 2nd level this unit features hardwood flooring throughout a good sized living room with custom cabinetry.a tiled bath with a 10x06 bonus room perfect for an office . Large windows allowing for natural lighting! The perfect commuting location, WALK to public transportation and all the wonderful shops that Brighton has to offer! don't miss your opportunity . Offers if any Due Tuesday 4pm April 20,2021-

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This Condo in Danvers, MA recently sold for $414,000. This 2/3 Family style home was sold by Marjorie Youngren Team - William Raveis Real Estate.


9 Park Street, Danvers, MA 01923

Condo

$399,000
Price
$414,000
Sale Price

4
Rooms
2
Beds
1
Baths
FANTASTIC LOCATION and PET FRIENDLY - best describes this updated and impeccable condo located in the Heart of Danvers an easy walk to shops and restaurants. Filled with charm and character, this lovely property features; open concept kitchen with stainless appliances, granite countertops, plenty of cabinets, large pantry and sliders to the deck, perfect for BBQ's. The glamour continues with gleaming hardwood floors, high ceilings, spacious updated bath and rooms filled with loads of natural light. Additional features include; in unit laundry, central a/c, ample parking and basement storage. Close proximity to 128. Move in ready and easy to show!NEW ROOF AND DECK IN 2020

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405 Main Street, Lynnfield, MA 01940

Single-Family

$849,000
Price

9
Rooms
3
Beds
2/1
Full/Half Baths
IF YOU ARE LOOKING FOR SHINY AND NEW AND NOTHING TO DO, THIS IS THE HOME FOR YOU! Welcome to 405 Main Street. MOVE IN READY Craftsman Style home, has it ALL! Every inch of this home has been COMPLETELY transformed many of the incredible features include; vaulted ceiling, hardwood floors, white cabinetry, stainless appliances, central air, gas heating and cooking, master ensuite, home office, dedicated laundry room, all new electrical and plumbing throughout, new top of the line LOCHINVAR hydro boiler system, PVC siding, composite deck and porch; spray foam insulation, newer windows, 5 year old roof and two car garage! Beautiful large level lot, plenty of room to spread out and enjoy! Great location, close proximity to center of town, library, post office, Market Street and major highways.
Open House
Sunday
June 13 at 11:00 AM to 12:30 PM
Cannot make the Open Houses?
Location: 405 Main Street, Lynnfield, MA 01940    Get Directions

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