ShareThisArchive for Buyers
Avoid These Mistakes at All Cost!
Now that you have decided to purchase a home in 2014, you must avoid these mistakes at all cost. These mistakes will prevent you from getting your home during the loan process! 1. Purchase a car or truck. 2. Change jobs or become self employed. 3. Fall behind on your payments. 4. Buy furniture for […]
Highlights of the Baltimore County “NCI”(Neighborhood Conservation Initiative Program) $20,000 Loan for Homebuyers!
On October 5, 2013, Baltimore County is starting a new homebuyer program called the Neighborhood Conservation Initative Program “NCI.” This program is an effort to encourage homebuyers to consider homeownership in existing residential communities that may or once had a high rate of foreclosed properties. The targeted zip codes within the conservation areas of Baltimore […]
Make Sure Your Lender Reviews Your Tax Returns!
The first step in the home buying process is to get pre-approved by your lender. Please make sure that your lender reviews the last two years of your tax returns before issuing you a pre-approval letter. The reason this is so important is because I’ve had at least 10 clients that have been referred to […]
Cash Deposits!
Over the last couple of months I’ve had several clients cause a delay with their settlement because they were making cash deposits into their checking or savings account without a verifiable paper trail for the source of the funds. Most banks or lenders will require that you provide them with two months of your bank […]
Buyers are Making Quicker Decisions Because of Low Housing Inventory in Some Areas!
Last month my wife and I helped 9 clients purchase properties in Baltimore City, Baltimore County, and Howard County. 5 of the 9 clients were up against multiple offers. I’ve notice this happening more and more this year. Some clients are coming to me with properties they want to see fast because they are noticing […]
Baltimore City and County Grant Programs Update!
Currently MALP has 7-8 loans still available (average loan amount $22,600) or SELP loans at $10,000 remaining. These funds must be used by June 30, 2013. That means that settlements must happen in June. These programs can be used in Baltimore County only. I’ve had clients combine MALP with DSELP or FHLB and get an […]
Cost and Price of Homeownership!
When purchasing a home you should look at the COST not just the PRICE. The cost is determined by the price and the mortgage interest rate which is available at the time. Below is a list of the interest rates over the last ten years and the impact they have on a $100,000 mortgage payment. […]
First-Time Buyers Don’t Ask Their Lender Enough Questions!
Most first-time home buyers do not ask their lender enough questions so they miss out on the best deals. Before you meet with your lender sit down and make a list of questions. Ask your real estate agent what questions you should be asking. I always provide my clients with questions for their lender. Family […]
Common First-Time Home Buyer Mistakes!
1. They don’t ask enough questions of their lender and end up missing out on the best deals. 2. They don’t act quickly enough to make a decision and someone else buys the house. 3. They don’t find the right agent who’s willing to help them through the home buying process. 4. They don’t do […]
House Shopping is Not A Job!
I’ve been ask this questions many times, “how many houses should I view consecutively.” There is no set rule, but I can give you some advise that might be helpful. If you look at 5 houses and you begin to lose focus and energy you should stop looking. This could cause you to miss some […]
