ShareThisArchive for General
Spring Has Sprung Early!
The Real Estate market in Baltimore feels like a spring market even though we are still in February. January was just as competitive. 80% of my clients have gone up against multiple offers. I have a client that want to submit an offer on a property in Baltimore County today, and the listing agent has informed […]
Federal Home Loan Bank (FHLB) is Back! $5,000 Forgivable Grant!
Federal Home Loan Bank of Atlanta first-time home buyer grant program is back! All buyers must contribute a minimum of $1,250 into buying their home, and those funds can actually be gifted as well. This grant is forgivable after 5 years. If a buyer sells the property prior to 5 years then the grant is […]
Maryland Grand Slam Program for Baltimore City!
Effective September 2, 2015, Maryland is offering four special incentives (hence the name Grand Slam) for borrowers who are purchasing a home in Baltimore City. The Maryland Grand Slam Program in Baltimore City is open for reservations until the allocated funds for the grants are expended. The remaining balance of these funds will be posted […]
New FHA Guidelines Starting September 14, 2015
Deferred Student Loans: The old guidelines said we did not have to count student loan debt if we could show the student loans deferred for 12 months. The new guidelines states they must be counted regardless of the deferment period. Lenders will be required to use the actual payment for qualification or if the payment […]
Governor Larry Hogan Announces Maryland Grand Slam
$3 Million Allocated to Encourage Home Buyers in Baltimore City ANNAPOLIS, MD – Governor Larry Hogan today announced Maryland Grand Slam, a $2 million program to build stronger communities in Baltimore through homeownership. These funds will be maximized with an additional $1 million from the City of Baltimore following today’s approval by the city’s […]
Spring Has Sprung!
Prepare Your Home Now for Warmer Days Ahead. Take these tips into account during the spring months Have your air conditioning cleaned and serviced by a qualified HVAC technician. Clean or replace your furnace filter. Check for damage to your roof, clean gutters and downspouts to keep debris from accumulating. This is especially important during the spring […]
FHA Lower Annual Mortgage Insurance Premiums Rates!
Great news for FHA buyers. Effective January 26, 2015 FHA is lowering the annual Mortgage Insurance Premiums rate from 1.35 percent to 0.85 percent. For the typical first-time homebuyer, this reduction will translate into a $900-$1,000 reduction in their annual mortgage payment. Existing homeowners who refinance into an FHA mortgage will see similar reductions to their […]
House Hunting Tips!
Knowing how much house you can afford is just a starting place for your search. You also need to answer the following questions to narrow down your options to those that are most relevant to you. 1. How many bedrooms and bathrooms do you need? 2. Do you want a new home or would you prefer […]
How Much Down Payment Do You Need?
Different loans have different down payment requirements. Mortgages insured by the Federal Housing Administration (FHA) need a 3.5% down payment. Conventional loans need a least a 5% down payment. If you are buying a $200,000 house, a 3.5% down payment would be $7,000. And a 5% down payment would be $10,000. Sure, you can put […]
Things to Avoid Before Buying a Home!
Don’t Make an Expensive Purchase- It’s best to avoid making major purchases like furniture, cars, appliances, electronic equipment, jewelry, or vacations until after the closing. Financing furniture with a credit card could jeopardize your credit worthiness during the time it means the most. Using cash to purchase big items can also create a problem because […]
