Sharon Simmons | Fairhaven, MA Real Estate, Dartmouth, MA Real Estate, Rochester, MA Real Estate

When dealing with mortgages, people erroneously believe that the smaller the mortgage taken out, the better for them. This article will clarify the reasons why even as daunting as it sounds, the larger and more prolonged the loan, the better.

People who apply for mortgages are those who want to own a house but don't have sufficient cash to buy one or those who need a large sum of money from a lender and use their house as collateral. These borrowers have an extended period to pay it back, and the length of time varies up to 30 years depending on the agreement between the two parties and the size of mortgage money-wise. 

If the mortgage borrower is unable to pay after the stipulated time, the property is foreclosed and most probably sold so that the lender, which is usually the bank, is paid back for the loan. For this fear of not being able to pay back, borrowers tend to get smaller mortgages, but below are reasons why getting bigger mortgages may be better in the long run;

1. It gets easier 

Over time, payment gets more manageable because the property value appreciates, and the borrower's income rises steadily while monthly mortgage payment remains the same especially if choosing a fixed-rate loan. Thus, as time goes on, the money to be paid gets less daunting and less significant in comparison to the borrower's inevitable financial growth over the years. In the beginning, it may be a struggle to make the payments. But, over time it gets easier.

2. Mortgage accords you the ability to invest more and quicker 

Many people prefer long mortgages because that means that the monthly payment will be smaller and spread out over a longer time as opposed to short-term loans. It may be better to invest a more significant amount now to reap more productive rewards in the future as one can use the proceeds from the investment to pay up. This seemingly huge risk only encourages more and faster investments too. In the long run, bigger mortgages result in bigger monthly payments, but it may also result in greater wealth.

3. Mortgage: liquidity and flexibility 

It is best not to listen to people who say that all that matters in mortgage loans is paying it off. Or, that it is a risky thing to do. Applying for a small mortgage loan with this mentality will not grant you flexibility. People who get small mortgage loans do not put into consideration all the other necessities toward which the money should go. Hence, one loses liquidity and control over access to one's money. Even though it would most likely appreciate in the long term, you are going to be handicapped in the short-term.

No matter what you decide, it is essential to understand that you must do what works the best for you both long term and short. Discuss with your personal financial consultant and real estate agent.

80 Fir St, Fairhaven, MA 02719

West Island



West Island at its BEST! Your new home is perched on almost an acre of park like grounds, with room for your boat or toys. Enjoy relaxing in your yard bird watching and observing nature. Take a walk to the beach or head on over to marina for so food and fun. Limited neighbors creating far more privacy than most West Island home sites. Single level living with an open floor plan and remodeled kitchen. If you are looking for a beach community, year round or second home, and love nature, this is the one for you. Plenty of room for gardening and expansion if desired. Another benefit is that according to map attached, no flood insurance should be needed. Call today!
Open House
No scheduled Open Houses

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0 Fir St, Fairhaven, MA 02719

West Island



Land Type
Beautiful 30,000 sq ft, corner lot on West Island waiting for you to build your dream home. Close to beach and surrounded by nature. Call for further details. Could be purchased with 80 Fir St, Fairhaven MA 02719. According to map attached, property is in X zone which usually requires no insurance.
Open House
No scheduled Open Houses

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It is always a beautiful and joyous feeling when you make an offer for a home, and the seller accepts it. However, you shouldn’t be in haste to pay the seller yet. Don’t be tempted to cut corners either by neglecting professional home inspection services all in a bid to reduce cost. Skipping home inspection should never be made because it will save you lots of headaches later on.

1. More Bargaining Power

A professional home inspection should reveal faults, or perhaps potential issues with the house. Knowledge gives you more bargaining power to ask for repairs or better yet, a reduction in the house price as compensation. But without such a professional inspection, you negotiate blindly, and when the deal is sealed, you find yourself paying additional money on things you know nothing of in the future.

2. For Safety

Here is another valid reason why you shouldn’t skip a home inspection no matter the reason. Getting an inspection on your home provides you with peace of mind. The home inspector will check the house for carbon monoxide, mold, and radon. If any of these toxic or harmful substances are present, that is enough reason to pull out of the deal.

3. Insurance

Most insurance companies require certificates like wind mitigation and four-point inspection before you can finally be insured. If home insurance is one of the things you plan to do, make sure a professional home inspection is done in other to get those necessary certificates.

4. Protecting the House

The core functions of a professional home inspector aren't only to discover faults, as many assume. They can also offer tips on how to keep the house safe. Having a report definitely will save you a lot of money in return.

5. Future Cost Forecast

Another excellent reason to not skip home inspection is the insights to the future. A good home inspector can determine how long the plumbing will last, and also, the duration of the heaters or coolers before they stop functioning. With this insight, you can plan and negotiate properly with your seller.

6. Illegal Additions or Installation

In every region, there are building codes and regulations to which homeowners must abide. Otherwise, it will have a drastically negative impact on insurance, taxes, usability and overall value of the house. Through home inspections, rooms, garages or basements completed illegally will be exposed.

The advantages of not skipping home inspection are tremendous. To save yourself from future headaches, spend on a professional home inspection today. There are lots of licensed home inspectors in your locality, hire one before closing that new house deal.

This Single-Family in Freetown, MA recently sold for $470,000. This Colonial style home was sold by Sharon Simmons - RE/MAX Vantage.

49 Point Of Pines Rd, Freetown, MA 02717

East Freetown


Sale Price

Full/Half Baths
YOU ARE READY TO FALL IN LOVE???...OPEN SAT 5/18/19 2-3:30 YOUR Home in the Country is move in ready! Pride of ownership shines. Your expansive back yard is perfect for entertaining & back yard fun. 3 levels of outdoor entertaining areas off kitchen. Patio ready for roasting marshmellows and eating smores. Your family & friends will enjoy sitting by the fireplace while dining, or sitting in living room. If you'd rather relax, step over to family room and watch a good movie. All bedrooms on the second level. Master suite with option of expansion with extra bonus room over garage. NEED MORE SPACE....YOU Have That Too! Finished basement, AND... Jaunt up to the 3rd level & create a fun game room or private office. ALL THIS AN MORE, within five minutes of Rte 140 highway access. You won't be disappointed. Visit Open House or call for your appointment today!

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