ShareThisArchive for First-Time Home Buyers
Federal Home Loan Bank of Atlanta (FHLB) Program Starts April 19, 2010 up to $7,500 in Grant Money for First-Time Home Buyers!
The Federal Home Loan Bank of Atlanta first-time home buyer program (FHP) will start on April 19, 2010. Through its FHP, the Bank will provide up to $7,500 in matching funds per eligible household for down payments and closing costs. The Bank has preliminarily allocated approximately $11 million dollars of funds for the 2010 FHP […]
Questions You Need To Ask When You Buy A Condo!
Before you buy a condo you should get the answers to the following questions from the Condo Association. In the process, you’ll learn how responsive-and organized- its members are. You’ll also be alerted to potential problems with the property. 1. What percentage of units is owner-occupied? What percentage is tenant-occupied? Generally, the higher the percentage […]
Take the Stress Out of Homebuying!
Buying a home should be fun but it can be a little stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible. 1. Find a real estate agent who you connect with. Home buying is not only a big financial commitment, but also an […]
8 Tips for Your Home Search
1. Research before you look– Decide what features you most want to have in a home, what neighborhoods you prefer, and how much you’d be willing to spend each month for housing. 2. Be realistic– It’s OK to be picky, but don’t be unrealistic with your expectations. There’s no such thing as a perfect home. […]
Some First-Time Home Buyers are Scrambling to Meet The Deadline for The $8,000 Tax Credit!
The $8,000 tax credit is a blessing formost first-time home buyers and could become a curse for the one’s that don’t make the deadline. Today is Oct. 26th, if a buyer doesn’t have a ratified contract in process the odds of a buyer making it to settlement by the Nov. 30th deadline is going to be very unlikely. […]
Always Know Your Numbers!
In today’s world 85% of consumers starttheir home buying search for properties on the Internet. Many potential home buyers whom are referred to me will give me a list of properties they have been looking at on the Internet and some time they have actually driven the area and viewed the properties from the outside. While […]
Community Development Block Grant Program (CDBG) $5,000 for Closing Costs and Down Payment Assistance
Baltimore City’s Community Development Block Grant Program started this month. The program provides funding that can be used as closing cost and downpayment assistance. Only first-time home buyers with family incomes of 80 percent or below the area median income qualify for the program. Community Development Block Grant Program 2009 Income Limits are: 1 person […]
What is “Rescoring!”
If you have paid your bills on time but your credit report says you haven’t, your mortgage lender might be able to fix your report fast. Typically, the three credit bureaus each require at least 30 days to investigate and make changes to your credit report. But if you are in the process of applying […]
Short Sales: When is Offer ‘Accepted’?
There has been some confusion about when a short sale offer is “accepted.” A short sale is a sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. The owner will request that the lender (third party) agree to take less and forgive the rest of what […]
Who is a First-Time Home Buyer?
“First-time home buyer” is defined by the Cranston-Gonzalez National Affordable Housing Act of 1990. The code specifies: The term “first-time home buyer” means an individual and his or her spouse who have not owned a home during the 3- year period prior to purchase of a home with assistance under subchapter II of this chapter, […]
