The Papineau Team | Andover Real Estate, North Andover Real Estate, Boxford Real Estate



85 Carlton Ln, North Andover, MA 01845

Single-Family

$799,500
Price

9
Rooms
4
Beds
3
Baths
Looking for a popular neighborhood with a private home setting nestled on the acre plus lot? You'll appreciate all 85 Carlton Lane has to offer. This exciting contemporary design is filled with open and soaring spaces, lots of natural light, a flexible floor plan and a long list of quality updates. You can feel the pride of ownership and thought that went into selecting the upgrade materials and look of the renovations. The gourmet kitchen features Miele & Viking appliances, a leathered granite counter, oversized island and functionality. Who doesn't love a walk in pantry? The open flow between the first floor rooms gives the house such positive energy. The private office makes working from home a delight because you have walls of glass to the outside and built ins to stay organized.The Master Suite features an upgraded Spa Bath, cathedral ceilings and an exterior deck. Perfect place for your morning coffee! The separate suite potential has it's own interior entrance. Gorgeous grounds
Open House
No scheduled Open Houses

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If you’re a first-time homebuyer, odds are you’ve thrown the words “prequalified” and “preapproved” interchangeably. However, when it comes to home loans, there are some very important differences between the two.

For buyers hoping to purchase a home with a few missteps and misunderstandings as possible, it’s vital to understand the procedures involved in acquiring financing for a home.

Today, we’ll break down these two real estate jargon terms so that you can go into the mortgage approval process armed with the knowledge to help you succeed in securing a home loan.

Mortgage prequalification

Let’s start with the easy part--mortgage prequalification. Getting prequalified helps borrowers find out what kind and what size mortgage they can likely secure financing for. It also helps lenders establish a relationship with potential customers, which is why you will often see so many ads for mortgage prequalification around the web.

Prequalification is a relatively simple process. You’ll be asked to provide an overview of your finances, which your lender will plug into a formula and then report back to you whether or not you’re likely to get approved based on your current circumstances.

The lender will ask you for general information about your income, assets, debt, and credit. You won’t need to provide exact documents for these things at this phase in the process, since you have not yet technically applied for a mortgage.

Prequalification exists to give you a broad picture of what you can expect. You can use this information to plan for the future, or you can seek out other lenders for a second opinion. But, before you start shopping for homes, you’ll want to make sure you’re preapproved, not prequalified.

Mortgage preapproval

After you’ve prequalified, you can start thinking about preapproval. If you’re serious about buying a home in the near future, getting preapproved will simplify your buying process. It will also make sellers more likely to take you seriously, since you already have your financing partially secured.

Mortgage preapproval requires you to provide the lender with income documentation. They will also perform a credit inquiry to receive your FICO score.

Mortgage applications and credit scores

Before we talk about the rest of the preapproval process, we need to address one common issue that buyers face when applying for a mortgage. There are two types of credit inquiries that lenders can perform to view your credit history--hard inquiries and soft inquiries.

A soft inquiry won’t affect your credit score. But a hard inquiry can lower your score by a few points for a period of 1 to 2 months. So, when getting preapproved, you should expect your credit score to drop temporarily.

After preapproval

Once you’re preapproved for a mortgage, you can safely begin looking at homes. If you decide to make an offer on a home and your offer is accepted, your preapproval will make it easier to move forward in closing on the home.

Once the lender checks off on the house you’re making an offer on, they will send you a loan commitment letter, enabling you to move forward with closing on the home.


This Single-Family in Haverhill, MA recently sold for $690,000. This Colonial style home was sold by The Papineau Team - Coldwell Banker Residential Brokerage.


282 S Main St, Haverhill, MA 01835

Single-Family

$699,900
Price
$690,000
Sale Price

9
Rooms
4
Beds
2/2
Full/Half Baths
Elegant and charming best describes this stately Queen Anne Victorian home with great curb appeal. A beautiful wrap-around porch adorns this property, with a classic portico and balcony to complete its beautiful entrance. Its interior has stunning detail, grace and elegance. Pocket doors accentuate the stylish interior, along with an elegant foyer that leads to an inviting center staircase. Situated in Bradford, this home has been lovingly cared for. Ample off street parking with a two car garage,newer roof and electrical, updated kitchen including radiant heating, central air conditioning , 2 full baths, and two 2 half baths. Not included in the sq footage~3rd floor with 3 large rooms and a full bath! Potential In Law or extended family. Stylish, elegant and distinctive, this Queen Anne Victorian is an absolute must-see for anyone looking for a one of a kind home. Showings by Appointment Only. "Open house" 12-2 4/19 Sunday by appointment only.

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Architecturally speaking, many home buyers have very definite ideas about their preferred house style.

Whether it stems from a sense of practicality or positive childhood memories, few house hunters are "on the fence" when it comes to the number of stories their ideal house should have.

Perhaps you're one of those people who grew up in a two-story house and wouldn't feel right sleeping down the hall from the kitchen and family room. Some people just prefer their sleeping quarters to be on the second floor!

Although it's a matter of personal preference, there are certain practical aspects to buying a ranch-style or traditional rambler house.

Less stair climbing: While this is an advantage that seniors typically value the most, stairs can be a burden anyone -- especially when you're lugging suitcases, boxes of books, or that heavy new futon you wanted to put in the guest room.

You can probably also recall countless evenings when exhaustion set it, and the last thing you felt like doing was climbing a long, winding staircase to get to your bedroom. (Okay, well maybe it's not "winding," but you get the idea!)

Then, of course, there are those times when you haven't been to the gym in a few months -- make that years -- and your home treadmill has turned into more of a clothes rack than an exercise machine! Although going up and down stairs a few times a day can help counteract the effects of a sedentary lifestyle, sometimes stairs can feel like they're more trouble than they're worth! That would definitely be the case if you have any physical conditions or health problems which make climbing stairs painful or medically unsafe. (Your physician can provide helpful advice on the latter.)

Home maintenance: If you hate getting up on tall ladders to paint your house or clean your rain gutters, owning a one-story home is a solution. Since home maintenance and repairs can often end up costing a bundle, it may make sense to consider doing your own exterior house painting. Although it's time consuming, messy, and sometimes a bit strenuous, painting your own house can potentially save you thousands of dollars in labor costs. Naturally, you'll still need to buy your own paint, brushes, rollers, and other supplies, but the amount of money you can save on labor is substantial.

Personal safety: If there's a fire or other emergency and you need to quickly evacuate your home in the middle of the night, a first-floor window can be safer and less scary than having to exit your house though a second-story window. While this type of dire situation is unlikely and will hopefully never happen to you, it's one of many factors to consider when comparing and contrasting ranch-style homes with other architectural styles.

If you do opt for a two-story (or three-story) architectural style, such as a colonial, craftsman, Tudor, Victorian, or farm house, it's especially important to have a fire escape ladder on hand, as well as a working knowledge of its proper use.



292 Rea St, North Andover, MA 01845

Marble Ridge Station

Single-Family

$587,000
Price

8
Rooms
4
Beds
2/1
Full/Half Baths
Attention Buyers: Fabulous opportunity to live in a highly sought-after Annie Sargent Elementary School neighborhood, near the Old Center and Rea Street Playgrounds. Enjoy a private back yard and deck in this Garrison Colonial featuring an open-flow floor plan with great connection between the Kitchen and fire-placed Family Room. The functional kitchen layout, with fresh white cabinetry, offers great cabinet and counter space as well as an indoor grill area. The second floor has 4 generously-sized bedrooms, two full baths and a walk up attic with future potential for a large office, gym, media room, or HVAC. Over-sized two-car garage and workbench and laundry in basement. Inside, there is fresh interior paint and updated lighting fixtures. Bring your ideas to continue the progress and make this home your own. Showings begin Wednesday, June 24, 2020
Open House
No scheduled Open Houses

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