Frightened and confused by the latest mortgage news? Looking to be part of
the American Dream to own your own home?
The Gables, located off North Quincy Street on 200 Hampton Way in Abington,
is sponsoring a free FHA workshop which outlines how first time buyers and
others can obtain an affordable mortgage. The workshop will be held
Wednesday, November 19, 6:30 - 8 p.m.
The FHA workshop will feature Mark Saraf, an experienced home mortgage
consultant with Wells Fargo Home Mortgage.
“This is a great first hand opportunity to ask questions and get answers
about how you can obtain an affordable mortgage,” commented Bisher Hashem,
president of the Gables Development Corp. He added, “FHA loans are an
exciting opportunity for many first time buyers and others who have the
income to afford a reasonable monthly mortgage payment, but may not have the
savings to advance a conventional 10 to 20 percent down payment typically
required by traditional lenders.”
The Federal Housing Administration (FHA) recently approved The Gables, a 220
condominiums community located next to Ames Nowell State Park, which
contains 430 acres of park woodlands.
Bisher added, “Now more hard working people can afford to buy a condominium
or home, have a comfortable place to live, create some equity and enjoy the
tax advantages of home ownership. We are delighted to assist people by
arranging this seminar that will provide objective, useful information about
FHA discounted programs.”
The Federal Housing Administration, generally known as "FHA", provides
mortgage insurance on loans made by FHA-approved lenders throughout the
United States and its territories. It is the largest insurer of mortgages in
the world, insuring over 34 million properties since its inception in 1934.
Unlike conventional loans that adhere to strict underwriting guidelines,
FHA-insured loans require very little cash investment to close a loan. There
is more flexibility in calculating household income and payment ratios. The
cost of the mortgage insurance is passed along to the homeowner and
typically is included in the monthly payment. In most cases, the insurance
cost to the homeowner will drop off after five years or when the remaining
balance on the loan is 78 percent of the value of the property - whichever
is longer.
The FHA and HUD have insured over 34 million home mortgages and 47,205
multifamily project mortgages since 1934. FHA currently has 4.8 million
insured single family mortgages and 13,000 insured multifamily projects in
its portfolio.
About the Gables
Residents of these luxury condominiums also enjoy a unique opportunity to
live in harmony with nature. The Gables abuts Ames Nowell State Park, which
contains 430 acres of park woodlands. This green buffer offers a wide
variety of activities to appeal to all ages for fun, relaxation, stress
relief, experiencing nature and exercise. The Gables is close in proximity
to all amenities such as public transportation yet nestled away to allow its
residents to enjoy the tranquility this neighborhood has to offer.
The Gables offers gracious living at affordable pricing – units start at
$269,900. Each unit offers generous design and floor plan options, quality
name brand products and materials. Each unit abounds with luxurious features
including: whirlpool tub, fireplace, tile flooring in bathrooms and kitchen,
central air conditioning and much more. Several upgrades are offered which
allow even more opportunity to customize units to satisfy individual tastes.
The Gables offers a variety of floor plans and unit types ranging from town
homes to garden units, and many properties include basements and garages.
The Gables offers more than just condominium living, it provides a quiet,
safe and comfortable lifestyle for years to come.
Residents at The Gables include an eclectic mix of empty nesters, young
families, singles and seniors.
This community is entirely aligned with growing requests for a greener daily
life. The designers of The Gables, wanting to reduce the overall impact to
the environment, considered many features and benefits for energy
efficiency. Every one of the windows and doors are energy efficient
products. The properly-sized 90% efficient systems will often cut energy
bills and reduce its lifecycle costs because of its greatly reduced
operating costs such as repairs.
The use of well-water to maintain the lush landscaping and other natural
features instead of municipal resources is another important
characteristic. The designer also minimizes wastewater by using ultra
low-flush toilets and lastly installed high-efficiency lighting systems and
task lighting reduces general energy use of the entire site. Some benefits,
such as improving comfort, reducing pollution and waste are not easily
quantified but will change the way residents live for years to come.
Many people today are looking for a greener lifestyle in their next home, to
live somewhere that promotes the economic health and well being of family,
the community and the environment. From energy efficient lighting to water
conservation, The Gables is a spectacular model for greener living on the
South Shore.
Set on 41 naturally-wooded acres off North Quincy Street in Abington, on 200
Hampton Way, directions from the North and South can be found at
www.thegables.net/
About Stonebridge Homebuilders
For more than 20 years, developers of The Gables, Stonebridge Homes and its
team, now based in South Easton, Massachusetts, have built many residential
communities throughout the northeastern United States. More recently,
Stonebridge has been focusing on building in towns of southeastern
Massachusetts, including Abington, Easton, Raynham, Rockland, Taunton,
Franklin, West Bridgewater, Pembroke, Whitman and Norwell. The styles of
these communities have varied from imaginative condominiums to custom
single-family homes designed by its award-winning in-house architect, whose
specialty is customizing dream homes for individuals, couples and families.
Each development is built with the same commitment to greener living quality
and satisfaction.
For more information visit www.TheGables.net, or call 508.230.2300.
