ShareThisArchive for General
Comparison of Good Faith Estimate (GFE) and HUD-1 Charges
When your lender gives you a Good Faith Estimate (GFE) there are some fees that can’t increase on you at settlement. There are some charges that can’t increase above 10%, and there are some charges that can change. Below is the list of charges that can and can’t change on you at settlement. Charges That […]
Revised Income Guidelines Effective 5/1/14
Effective May 1, 2014, the new income guidelines for some grant programs (80% of median income) are; 1 = $44,750 2 = $51,150 3 = $57,550 4 = $63,900 5 = $69,050 6 = $74,150 7 = $79,250 8 = $84,350 1-8 represents household size.
Rental Scam!
The rental market has been very hot over the past couple of years. This has created a lot of opportunity for rental scammers. Some potential renters are now more aware of scams, but because scams have gotten more sophisticated, most are not sure they know how to avoid them. The Better Business Bureau (BBB) recently […]
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 […]
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. […]
FHA Eases Restrictions On Condo Lending!
Great News! FHA is temporarily easing its lending requirements for condominiums, in a bid to help the real estate market. In Maryland their are many condo communities that can not get FHA approval because of the amount of delinquent condo dues. I’ve had many buyers who wanted to buy condos in communities that could not […]
A New Parkville Community Ryland Homes Perry Meadows!
Last week my wife and I toured a Ryland Homes community called Perry Meadows. The base price started from $349,990 – $384,990 depending upon model and elevation. The model home which had all the bells and whistles was being sold for $459,000. If you would like more information about this community just give a call we […]
The Current FHA Loan limits for Maryland Counties!
Allegany $271,050 Anne Arundel $560,000 Baltimore and Baltimore City $560,000 Calvert […]
World Population is Projected to hit 7 Billions by Monday Oct. 31st!
Sometime on Monday October 31, 2011 the world population is projected to hit 7 billion. By 2050 the world population is projected to be 10.5 billion. Very interesting! World population by the billions 1 billion – 1804 2 billion – 1927 3 billion – 1959 4 billion – 1974 5 billion – 1987 6 billion […]
Now is a Good Time to Buy!
A recent survey backed by the National Association of Home Builders (NAHB) found that Americans see beyond the immediate housing market to the enduring value of homeownership which still remains essential to the American dream. The Chairman of NAHB reported that 75 percent of those polled said owning a home is worth the market fluctuations […]
