[The following is a paid advertorial:]
Vivian Meranda (NMLS ID# 35377) has been part of Boston’s community since day one—literally. She grew up in Jamaica Plain, went to high school in the North End, and has maintained friendships here for decades. With 20+ years in mortgage lending, Vivian knows that the largest purchase you’ll ever make requires more than just paperwork—it requires a team of experts who know the Greater Boston market.
What’s happening in the Boston Area housing market right now that buyers need to know?
The Boston market is tough—and I say that as someone who’s been doing this for over 20 years. It’s a very hard market, and that puts emphasis on having the right people working for you. You need somebody who knows what they’re doing.
Right now, there are plenty of first-time homebuyer programs available, but here’s the thing: most people don’t know if they qualify. There are eligibility requirements around income, location, how much you have in the bank, how much savings you have. Most people who are just starting to look don’t have those answers. If you’re going to start looking, you need to work that out, ideally, roughly three months before you plan to buy. Programs change all the time, and we’re up on those changes—but most buyers aren’t. That’s our job: to teach you how to wrangle all that stuff together.
Do you see any trends in how people approach home buying?
Two big trends: people are putting less down if they can qualify, and more people are considering adjustable-rate mortgages (ARMs).
We’re seeing people put less money down because houses that used to be $400,000 and needed a little work are now $700,000 and still need that work. So people are trying to keep some money in their pockets so they can paint, redo the bathroom, whatever they need to do after they close. The average sale price around here is around $800,000—you need to be strategic about how you use your cash.
Another trend we’re seeing is more people opting for an ARM. Some people mistrust ARMs because they know their rate and payment will increase after the initial period, but with proper planning, you can maximize the benefits of that initial lower rate. Choosing an ARM may help you secure a lower rate than you could get with a fixed rate option. If you’re confident that you’ll move within 5-10 years or plan to refinance to a fixed rate during that time, an ARM could help you save thousands.
What’s your advice for someone who keeps waiting for the “perfect” moment to buy?
There’s never a perfect moment. Never.
If you wait for rates to drop or wait for more houses to come on the market, you’re waiting—and so is everyone else. There’s not a lot of inventory right now, and there are a lot of people looking for that same house. You need to work with a team that’s going to help you get there. You cannot do it on your own. Are you still going to miss out on several offers? Maybe. But at least you’ll have a conversation and know why that happened. The competition is fierce.
The realtor is key. You have to have a really good realtor who knows this market. It’s about building community and building a team that you’re comfortable with.
Let’s talk about adjustable-rate mortgages. There seems to be a shift in how buyers view them. What’s changed?
Buyers have more tools available to them. They can get online and find out what adjustable-rate mortgages have done in the last 20 years. They’ll see the trends. Sometimes they’re up, sometimes they’re down. And they can see that rates haven’t always adjusted to the maximum in every adjustment period.
I talk to borrowers all the time who say, “Oh no, I’m not interested in an adjustable-rate mortgage.” And I say, “OK, that’s fine. I’m going to approve you at a 30-year fixed. But when you’re ready, I want to talk. Just please have an open mind. Let’s talk about your options.” And I would say 50/50, people decide to go with the ARM because it makes more sense after we talk about it. They go do some more homework and come back and say, “OK, yeah, we’re going to go with that.”
What drew you to Cambridge Savings Bank? What makes it different?
Teamwork. I’ve been more successful here than I was at my previous company—and I was there for almost 17 years. Coming to CSB was the best move I could have made.
It’s a great bank and a great place to work. Our mortgage department is a great group, a great team. And here’s what matters: “no” is not always the only option. We work together to get things done. We figure out creative solutions.
One thing that’s true about me is that I do not bounce around. I am loyal to where I work, and I’m really good at finding the right company to work for. It’s about building community—not just for clients, but internally too. I have teams of people I work with outside and inside the bank. My inside team is the best—we do everything right here in Waltham. My outside team includes attorneys, real estate agents, and insurance people. The key is making sure you like your team and you trust them. Again, you’ve got to build the community.
If you could tell every Boston Spirit reader one thing about homeownership, what would it be?
Buy what you love. Don’t always buy what you think you need to buy. Buy what you love and get the right team to help you get there.
I know that’s bold advice coming from a mortgage loan officer, but I mean it. If you’re going to spend close to $1 million in this market, it should be for a home you love and a life you want to build.
Want to learn more about buying a home from Vivian? Here’s how:
- online: cambridgesavings.com/vivian-meranda
- mobile: 508.735.5244
- email: vmeranda@cambridgesavings.com
About Cambridge Savings Bank
Cambridge Savings Bank is a full-service banking institution with $7 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. In February 2025, Kroll Bond Rating Agency affirmed CSB’s investment-grade rating, reinforcing the bank’s position as a reliable business lender. To learn more about how CSB can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370.
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