Nov 22

Mortgage Misconception

The availability of mortgage credit is not at the same level that it was during the boom in housing (2005), and that’s good news. However, the constant headlines which talk about “tight credit” are causing some potential home buyers to doubt their ability to purchase. We want to rectify the misconception of what is required for a down payment in order to purchase a home in today’s market.
Freddie Mac recently discussed the confusion many first-time homebuyers have about the down payment they need in order to buy:

“Did you know that the average down payment among first–time homebuyers is 6% and it’s 13–14% for repeat buyers…It’s possible to put down even less.
Many potential homebuyers think that only the FHA helps make mortgage loans with low down payments. Not true.
Freddie Mac’s Home Possible mortgage products let qualified homebuyers put down as little as 3%.”

Nov 2
Phase IV at Academy Hill
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Academy Hill is excited to announce the release of two new condominium floorplans as well as the next 8 single family home lots in Phase IV.

Single Family Lots: There have recently been 8 new lots released on Cherry Tree Lane where you can build one of our single family home styles in this comfortable West Groton neighborhood. Pricing will start in the mid $500,000’s. Each home will feature 4 bedrooms and 2.5 bathrooms, tiled master bath showers with granite vanity tops, stainless steel applianced kitchens with granite counters and hardwood flooring in the foyer, dining rooms and kitchens. Our home plans will range from 2,500-3,600 square feet with open concept layouts.

Condominiums: We have 12 opportunities remaining to enjoy maintenance -free living. Our two new floor plans both feature a first floor master suite and bath with a 2nd bedroom, full bath and a loft on the second level. There is room to enhance the floor plan by finishing an additional bedroom on the second floor or creating a finished walk out lower level. The Scarlet plan is featured as a duplex and the Chestnut home-style is a free standing option. These homes will feature 1,943-2,100+ square feet of living space.

Plan Your Visit TODAY
To find out more detail about all of our available homes, call today for your private preview at 888-471-0470 or visit our website www.AcademyHillHomes.com.