Your Boston Home – Holiday Stress-Busters

The holiday season is officially upon us and unfortunately with the holidays can come added stress. More than 20 percent of Americans report “high levels of stress” during the holiday season. It's no wonder we feel this way with family members everywhere in your Boston home, over-night guests, and an ever-growing to-do list to manage. Keep your stress in check with some simple five minute activities.

Brew a cup of tea. A few sips of a calming blend of tea can be the key to unwinding during the midst of craziness while preparing your 5 course Thanksgiving meal. Black tea or even green tea can help lower cortisol levels (the stress hormone) and also can reduce heart rate and overall stress.

Count your breaths. The most effective stress reliever is a nice deep cleansing breath. When the children are running all over your Boston home and you are juggling 5 courses with your one oven its time to take some deep cleansing breaths to help recenter.

Find your center. Take your cleansing breaths a step further with some zen time. A few minutes of mindful meditation will help reduce cortisol levels and give you a new perspective during a stressful situation. Need help with your meditation? Step off to a quiet space and use a guided meditation app – Headspace comes highly recommended.

Step outside. If all else fails step out into the brisk Boston air to grab a bit of sunshine or to take a breather. You'll feel much better when you return to the hectic holiday schedule.

I hope you have a wonderful Thanksgiving with your friends and families and that it is relatively stress-free thanks to these tips. Most of all I am thankful for my clients and future clients - please know, a Boston Real Estate agent is only a click away if you have any Boston, MA real estate needs. I look forward to hearing from you soon!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Boston, MA – Do you Qualify for a Jumbo Loan?

Have you been shopping around for a mortgage loan for your Boston, MA home? You may have come across the term jumbo loan and wondered what exactly that is. Jumbo loans come into play when the property cost exceeds the mortgage conforming limit. Basically, loans starting from $417,000 - $625,501, depending on what part of the country the property is in. If you are planning on buying a higher priced property, a jumbo loan is a viable option, but, qualifying for it is tougher than with a traditional mortgage. Here are key factors in qualifying for a jumbo loan.

Income. Because jumbo loans have more scrutiny than conventional loans you will need to be able to prove you have the income and liquid reserves to cover the payments on your new Boston, MA home. Traditional borrowers will need paystubs dating back 30 days and W2 forms from two years back. If you are self-employed you will need to show further verification such as tax returns and bank statements as well as 6 months reserve of the new mortgage payments.

Debt-to-Income Limits. Since many jumbo loans are qualified mortgages your debt-to-income ratio cannot exceed 43%. If your debts put you over that limit you can still apply for a non-qualified mortgage.

Credit Scores. Because of the higher dollar value of jumbo loans, credit score requirements are higher. You will need at least a 680 credit score to qualify for most jumbo loans. Since all lenders set their own credit score requirements some lenders may require a higher score for approval.

Documentation. With qualified mortgages come increased need for documentation. When you apply you will need to provide documentation to back up any claims you made, including, but not limited to, the following: proof of income, proof of liquid assets, documentation on other loans you hold, and proof of ownership of non-liquid assets such as other owned properties.

Down Payment. While it may be tougher to apply for a jumbo loan, many have one thing to look forward to: lower down payments. In today's mortgage climate 10% is usually sufficient with good credit.

When you are ready to purchase a home in Boston, MA look to an experienced Boston Real Estate Agent. I'm committed to providing you with the highest quality buyer service. When making the type of investment that buying a home requires, you deserve to have all the latest market information and the very best advice, both of which I can provide you with. I am always here should you have a question on a Boston, MA neighborhood such as South End, Fenway, Beacon Hill, or any other. I hope to speak with you soon!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Boston, MA – Buying with a VA Loan

There are several myths and misconceptions surrounding VA home loans. Many Boston, MA home-buyers are not aware of eligibility, multiple purchase rules, and safety of these 0% down loans. As a military veteran, don't let outdated or bad information keep you from exploring your hard-earned home loan benefits. In honor of yesterday's Veteran's day here are a list of four VA Loan myths. Don't let them hold you back!

Myth #1: VA loans cost more.

In reality, the interest rates, upfront expenses and closing costs aren't inherently more with VA loans. Rates tend to be competitive with conventional loans, if not below. When you also consider the no down payment requirement and no need for mortgage insurance a VA loan is very comparable to conventional loans and quite “cheaper” than FHA loans, both which require minimum down payments and mortgage insurance.

Myth #2: You can only use the benefit once.

In reality, qualified borrowers can use the VA loan program over and over again. It is also not a benefit exclusively for veterans, a small percentage of VA loans went to active-duty military in the last year.

Myth #3: Your purchasing power is limited.

Qualified borrowers in most of the country can purchase up to $417,000 without a down payment. In Boston, MA the VA loan limit is a bit higher at $500,000. Please note, this doesn't restrict how much home you can buy in Boston, MA, but, limits how much you can borrow before having to figure in a down-payment.

Myth #4: VA loans are risky loans.

VA loans actually have the lowest foreclosure rate of any loan on the market, for nearly all of the last six years. Whether this stability is due to common-sense underwriting or the VA's commitment to keeping veterans in their homes, you can feel secure taking out that VA loan.

When you are ready to purchase your dream home contact an experienced Boston Real Estate agent. I'm committed to providing you with the highest quality buyer service. I am always here should you have a question on a Boston, MA neighborhood such as South End, Fenway, Beacon Hill, or any other. I hope to speak with you soon!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Boston, MA – Thanksgiving 2014

Thanksgiving 2014 is Thursday, November 27^th and is just right around the corner. Boston, MA is not short on restaurants with menus ranging from traditional to innovative. Seeing as many families have a long standing tradition of eating out on this holiday, be sure you make your Thanksgiving reservations early, should you plan to dine out. Typically most Thanksgiving menus are prix-fixe, but, some do offer lavish Thanksgiving buffets. Here is a round up of some of the Boston, MA hotels offering dinner on Thanksgiving.

Millennium Bostonian Hotel. At North 26, in the Millennium Bostonian Hotel, Chef Julia Brant will offer a 3-course prix-fixe dinner featuring the bounty of the season. From noon – 6 pm, 26 North Street, Boston.

Ritz-Carlton. At the Artisan Bistro in the Ritz-Carlton, Thanksgiving brunch takes a family-friendly approach with kid-friendly favorites, plus fun dessert decorating stations. The whole family will enjoy the live music. From noon – 2:30 pm, 10 Avery Street, Boston.

Beacon Hill Hotel. At the Beacon Hill Bistro, in the Beacon Hill hotel, the food has received national fame but still remains a neighborhood favorite! A 3-course prix-fixe menu featuring several delicious selections also offers wine pairings. Located at 25 Charles Street, in to the Boston, MA Beacon Hill neighborhood, 1 pm – 10 pm.

If you're visiting us in hopes of buying a home in Boston, please contact a Boston, MA Real Estate Agent after your holiday. Without the guidance of a local expert, it can be tricky to cover all of the city's vibrant neighborhoods! My services extend beyond helping buyers and sellers through their transactions. I thoroughly enjoy getting prospective residents familiar with their surroundings and exposing them to the best of everything Boston, MA has to offer. I hope to speak with you soon!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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