MoneyWisdom Blog

Introducing Hanscom FCU's No-Money-Down Mortgage

Posted by Diana Burrell on May 3, 2018 2:14:17 PM

Maybe you’re tired of writing rent checks each month, knowing that your hard-earned salary funds your landlord’s real estate investment. Or that living below a bunch of hard-partying college kids has worn thin, along with your apartment walls, which are more like Egyptian papyrus — and as old, too!

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Topics: Money Management, mortgage, Home Ownership

First Steps for Seniors in Debt

Posted by Hanscom Federal Credit Union on Dec 24, 2017 11:22:56 AM

Many seniors avoid seeking help for their money problems, citing reasons such as not wanting to bother people, not knowing who to trust, and feeling ashamed. Yet trying to deal with debt issues alone is often not the best approach. While money problems may be uncomfortable to talk about, there are resources where you can find valuable assistance.

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Topics: mortgage

Costs to consider before buying an investment property

Posted by Phil Purcell on Nov 9, 2017 5:00:00 PM

In order for this to be an enjoyable, rewarding and lucrative experience, it’s vital that you’re fully aware of what’s involved and required to be successful. While this article not meant to deter you, it is meant to honestly depict all the responsibilities of property ownership.

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Topics: mortgage, Investment Property, Investment

How do I secure financing for an investment property?

Posted by Phil Purcell on Nov 9, 2017 4:00:00 PM

Now that you’ve found a property, it’s time to start looking for financing. Talk to several lenders, compare terms and rates and decide if this is someone you can comfortably work with. Yes you need to like them, but you also need to make sure they are someone who can help you understand all the issues associated with purchasing investment property. Pick someone you trust and find easy to work with.

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Topics: Money Management, mortgage, Investment Property

How to Prepare for Home Ownership

Posted by Hanscom Federal Credit Union on Oct 27, 2017 8:46:00 AM

Buying a home is a major commitment. It’s a bit like, well, getting married: you’ve got to be ready and you have to find the right “one.” And, like a marriage, homeownership is a dynamic experience that requires a tremendous amount of care and attention.

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Topics: mortgage, Home Ownership

Common Real Estate Scam Hits My Family

Posted by MaryJo Kurtz on Jul 12, 2017 9:29:27 AM

My son is not renting his Boston condo, though you may see it listed for rent on Craigslist. Yesterday, an astute woman searching for an apartment in the city spotted the scam ad and contacted my son. It turns out his is one of many properties featured in a common real estate scam. 

“When the woman was asked to wire money to a routing number, she became suspicious,” he told me. “She found my name as the owner of public record and reached out to me on Facebook to find out if the ad was legit, and that’s how we discovered the scam. It’s a little unnerving.”

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Topics: mortgage, scams

Can regular home maintenance increase your home's value?

Posted by Bill Burpeau on Apr 10, 2017 3:08:00 PM


My wife and I try to keep our home maintained and major equipment in good working order.  We do this for two reasons. First, we like having things in good repair so we can enjoy them more.  Second, we expect it to help when the time comes to sell our home. But, does regular home maintenance really improve my home’s value?

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Topics: Home Equity, mortgage, Home Ownership

4 Questions to Ask Before Buying a Timeshare

Posted by Hanscom Federal Credit Union on Mar 31, 2017 7:00:00 AM

When you visit a beautiful vacation destination, have a wonderful time, and plan to return again and again, you may dream of owning a home there. However, for many, a vacation home – with the big down payment, monthly mortgage, and ongoing maintenance costs — just isn’t in the budget. An alternative many people consider is a timeshare, which can seem like a cost-effective alternative to hotel stays. However, as with any major purchase, a lot of careful research should go into deciding whether or not a timeshare is the right choice for you. Here are four questions to consider before buying a timeshare.

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Topics: mortgage, Home Ownership, Travel

How does my credit score affect my mortgage application?

Posted by Bill Burpeau on Oct 6, 2016 1:00:00 PM

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A credit score is one of the pieces of information that we'll use to evaluate your application. Financial institutions have been using credit scores to evaluate credit card and auto applications for many years, but only recently have mortgage lenders begun to use credit scoring to assist with their loan decisions.

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Topics: Credit Score, mortgage

The 3 Important Numbers Needed to Buy a Home

Posted by Maria Porto on Jun 1, 2016 7:00:00 AM

One of our most popular Lunch and Learn public seminars is our introduction to buying a home, and there’s a very good reason for that: the logistics of buying a home can be confusing. The good news is that you will find the logistics fall into place fairly easily if you understand three important numbers: your credit score, your down payment, and your debt-to-income ratio. These three numbers are your key to unlocking a mortgage approval.

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Topics: mortgage

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