Medway & Millis July 2020

Page 18 Medway & Millis Local Town Pages www.localtownpages.com July 2020
28th Annual Against the Tide
Hopkinton & Cape Cod Events Rescheduled
With the health and well-being of our
participants, volunteers, and sponsors in
mind, Massachusetts Breast Cancer Coalition
(MBCC) has decided to reschedule the
Against the Tide event in Hopkinton from
June 20th to September 19th, and to reschedule
the Against the Tide event in Brewster
from August 15th to September 26th. Both
in-person events will also include virtual options,
providing our participants with four opportunities
to participate virtually, as well as
two in-person events if it is safe to do so.
Damon Financial, LLC**
Michael T. Damon
Financial Adviser*
45 Milford Street, Suite 3
Medway, MA 02053
(508) 321-2101
Mike@DamonFinancial.com
DamonFinancial.com
All virtual participants will receive a Participant
Fun Pack, including an event t-shirt,
bib or swim cap, participant medal, and sponsor
items.
Now more than ever, MBCC needs your
support towards the mission of cancer prevention
for our children, grandchildren, and
future generations. Please visit http://mbcc.
org/breast-cancer-prevention/against-thetide/
for event details and to register for the
Against the Tide in-person and virtual events
today!
We’ll help show
you the way
to financial
security. No
map necessary.
Contact me for a
complimentary
portfolio review.
Buying Your First Home
You’ve decided that’s it’s time
to buy your first home. Congratulations,
you are on your way to
fulfilling your dreams! Before you
start house hunting, though, you
should have a number of things
in place. You should be saving
for the down payment (a down
payment can be about 20% of
the price of the house)1 and the
closing costs. Simultaneously,
you should be getting your credit
rating2 as high as possible so you
can get a favorable interest rate
on your mortgage.
You’ll also need to decide
where you want to live. Do you
have specific neighborhoods in
mind? Are school districts a factor
in your decision? How large a
house do you need for your family?
Do you expect to have more
children? These are all questions
that will affect the kind of home
you will purchase. Do you want
a single-family dwelling, or will a
condo be fine? Talk to local real
estate agents to get ideas on how
much homes go for in your area.
Find out what they think you
can afford. Ask lots of questions
and become well-versed in house
buying by the time you are actually
ready to buy. Talk to your
banker, and shop around for
mortgage rates. Getting preapproved
for a mortgage can make
the buying process quicker and
smoother.
Calculating how much you
can afford to spend involves estimating
your income. Are you
counting on two salaries or only
one? Your calculations should
take into consideration your current
debt level, real estate taxes
in your area, and the costs of a
mortgage. Many banks require
that your monthly mortgage
payment not be higher than a
specified percentage of your income3
and that you have three
to five months of mortgage payments
set aside in savings. Use
a mortgage calculator.1 Several
are readily available online, and
a mortgage calculator will help
you create a realistic budget. An
important part of the equation
will be life insurance to protect
your family and enable them to
handle the mortgage payments
should something happen to you.
The bank will have mortgage insurance
built into your monthly
payments, but that insurance
covers the bank’s liability only.
Your family will not be able to
replace your income unless you
protect them with life insurance.
You don’t want your dreams
to evaporate or your family’s
dreams to disappear and not be
fulfilled.
This educational, third-party
article is provided as a courtesy
by Michael Damon, Financial
Adviser, New York Life Insurance
Company. To learn more
about the information or topics
discussed, please contact Michael
Damon at (508) 321-2101.
1
“How Much House Can I Afford?,”
Bankrate, accessed
September 24, 2018.
https://www.bankrate.com/
calculators/mortgages/newhouse-calculator.aspx
2
Dana Dratch, “6 Things You
Must Do Before Buying a
Home,” Bankrate, June 8,
2018.
https://www.bankrate.com/
finance/mortgages/6-mustdos-before-buying-a-home-1.
aspx#Step%203
3
William Slusser, “5 Tips for
Home Buyers—Avoid Paying
Too Much for a Mortgage,”
Consumers Advocate, March
1, 2018.
Insure. Prepare. Retire.
DAMON
FINANCIAL, LLC
Proud to Offer
https://www.consumersadvocate.org/mortgage-rates/a/
tips-for-home-buyers?pd=true&keyword=buying%20
first%20house&bca_campaignid=112488171&bca_
adgroupid=1212761505038245&bca_matchtype=e&bca_
network=o&bca_device=c&msclkid=557dcf0810811d52c7b6
94a0fa8f004c&utm_source=bing&utm_medium=cpc&utm_
campaign=l%20Mortgages&utm_term=buying%20first%20
house&utm_content=Buy%20a%20House
Registered Representative offering investments through NYLIFE Securities LLC (member FINRA/SIPC), A licensed Insurance
Agency and wholly owned subsidiary of New York Life Insurance and an agent licensed to sell insurance through New York
Life Insurance Company and may be licensed to sell insurance through various other independent unaffiliated companies.
*Financial Adviser offering investment advisory Services through Eagle Strategies LLC, a Registered Investment Adviser.
Eagle Strategies LLC is a New York Life Company
** Damon Financial, LLC is not owned or operated by New York Life Insurance Company/Eagle Strategies LLC/NYLIFE
Securities LLC, or its affiliates.
Our Ad & Editorial Deadline is the
15th of each month,
for the following month’s issue.