Either what Wetdawgs says or your loan was picked for a random post closing audit. If a lender does enough business, as a matter of good practice, they will have a certian number of closed files audited. It's so that they may check the work performed by the underwriters and processors on your file.
Agree with all. An exerianced Land/Real Estate attorney in your area would be best to consult with.
If you are able to put down 10%, then a piggy back might be the way to go. Please contact me through my profile to discuss what rates and payments might look like.
That is not an issue. We deal with this scenario often. I am local to Worchester as well.
Its possible but with no visible income it may be difficult to find. You should check with some local banks and credit unions. Sometimes a smaller HELOC amount will be approved on your credit score only.
I would go attached. No one wants to park in a basement garage with 10 bags of groceries.
Which is why when you are looking for a property, you will want to know that owner occupancy ratio. Low owner occ can (not always) mean the place will look run down, tennants may not care about trash and upkeep, and tennants may not be as respectful of neighbors.Good luck in your search and get preapproved!!
I am not aware of a 5% down payment with a Piggyback. Typical Piggybacks need 10% down and are typically 80-10-10 or 75-15-10.
You cant go wrong with either town. I would focus more on what each town has to offer.
I dont think you could go wrong with either town. I think it comes down to what each town has to offer in services and schools.