The new DC4ME PLUS is a loan program will be available to certain DC employees. The eligibility requirements for this new program are as follows: The new DC4ME PLUS is a first-time homebuyer mortgage program offered to current full-time District government employees. Including employees of district government-based instrumentalities, independent agencies, District of Columbia Public Charter Schools and organizations.The applicant/borrower’s employer must falls under the oversight of the Council of the District of Columbia. Applicants must be a 1st time home buyer The new DC4ME PLUS maximum household income may not exceed 120% of AMI The first trust will be a 30 year fixed rate conventional Freddie Mac HFA Advantage loan. And must follow US Bank HFA Advantage guidelines. Maximum 50% DTI; maximum loan amount of $484,350; maximum sales price of $525,000.Under the new DC4ME PLUS PROGRAM at least 1 borrower must have completed a home … [Read more...]
Featured Properties: Beltsville, Laurel, MD
$1,999,000
7708 Brooklyn Bridge Road Laurel, Maryland
2 Beds 3 Baths 2,106 SqFt 1.310 Acres
Listing courtesy of Fairfax Realty Premier
$1,699,999
7105 Brooklyn Bridge Road Laurel, Maryland
4 Beds 4 Baths 2,059 SqFt 0.860 Acres
Listing courtesy of KW Metro Center
$999,999
9922 Balsam Way Laurel, Maryland
6 Beds 6 Baths 5,240 SqFt 0.210 Acres
Listing courtesy of EXP Realty, LLC
$995,000
8414 Leishear Road Laurel, Maryland
4 Beds 3 Baths 1,604 SqFt 3.990 Acres
Listing courtesy of Long & Foster Real Estate, Inc.
$874,900
8485 Leishear Road Laurel, Maryland
7 Beds 5 Baths 6,604 SqFt 0.580 Acres
Listing courtesy of Monument Sotheby's International Realty
$800,000
7307 Brooklyn Bridge Road Laurel, Maryland
6 Beds 5 Baths 4,320 SqFt 2.650 Acres
Listing courtesy of Maryland Real Estate Network
$799,000
10644 Gross Lane Beltsville, Maryland
3 Beds 2 Baths 0.500 Acres
Listing courtesy of REMAX Platinum Realty
$789,990
1195 Patuxent Greens Drive Laurel, Maryland
4 Beds 4 Baths 3,343 SqFt 0.140 Acres
Listing courtesy of RLAH @properties
$789,900
15304 Riding Path Court Laurel, Maryland
6 Beds 5 Baths 4,353 SqFt 0.440 Acres
Listing courtesy of Realty One, Inc.
$769,990
1191 Patuxent Greens Drive Laurel, Maryland
4 Beds 4 Baths 4,039 SqFt 0.140 Acres
Listing courtesy of RLAH @properties
$750,000
4200 Somerville Court Laurel, Maryland
4 Beds 4 Baths 4,500 SqFt 0.310 Acres
Listing courtesy of Redfin Corp
$729,900
14505 Highbury Lane Laurel, Maryland
4 Beds 4 Baths 2,548 SqFt 0.150 Acres
Listing courtesy of Village Premier Collection Maryland
$699,000
15900 Sherwood Avenue Laurel, Maryland
5 Beds 4 Baths 3,050 SqFt 0.230 Acres
Listing courtesy of Best Value Realty, Inc.
$695,900
9144 Bryant Avenue Laurel, Maryland
5 Beds 4 Baths 2,975 SqFt 0.170 Acres
Listing courtesy of Maryland Real Estate Network
$695,000
4717 Greencastle Road Laurel, Maryland
2 Beds 2 Baths 1,470 SqFt 2.750 Acres
Listing courtesy of Long & Foster Real Estate, Inc.
$690,000
13613 Oaklands Manor Drive Laurel, Maryland
6 Beds 4 Baths 2,280 SqFt 0.050 Acres
Listing courtesy of Exit Flagship Realty
$649,950
1105 Montgomery Street Laurel, Maryland
4 Beds 3 Baths 2,480 SqFt 0.210 Acres
Listing courtesy of Keller Williams Realty Centre
$639,990
1001 Highpoint Trail Laurel, Maryland
3 Beds 3 Baths 2,414 SqFt 0.100 Acres
Listing courtesy of DRB Group Realty, LLC
$630,000
4715 Powder Mill Road Beltsville, Maryland
3 Beds 2 Baths 1,287 SqFt 0.560 Acres
Listing courtesy of Blufin Realty, LLC.
$615,000
9915 Harmony Lane Laurel, Maryland
5 Beds 4 Baths 2,804 SqFt 0.140 Acres
Listing courtesy of RE/MAX Professionals
$599,000
4607 Powder Mill Road Beltsville, Maryland
3 Beds 4 Baths 2,368 SqFt 0.280 Acres
Listing courtesy of Compass
$590,000
8549 Pineway Drive Laurel, Maryland
5 Beds 4 Baths 2,991 SqFt 0.830 Acres
Listing courtesy of Maryland Pro Realty
$581,985
1170 Patuxent Greens Drive Laurel, Maryland
3 Beds 4 Baths 2,465 SqFt 0.060 Acres
Listing courtesy of RLAH @properties
$580,000
7808 Aylesford Lane Laurel, Maryland
4 Beds 3 Baths 2,142 SqFt 0.280 Acres
Listing courtesy of Keller Williams Lucido Agency
$575,000
9330 Kings Post Court Laurel, Maryland
3 Beds 4 Baths 2,880 SqFt 0.180 Acres
Listing courtesy of Redfin Corp
$575,000
8455 Heatherwold Drive Laurel, Maryland
4 Beds 2 Baths 2,112 SqFt 0.810 Acres
Listing courtesy of CENTURY 21 New Millennium
$572,920
1727 Mill Branch Drive Laurel, Maryland
3 Beds 4 Baths 0.040 Acres
Listing courtesy of RLAH @properties
$565,000
8628 Jennifer Court Laurel, Maryland
4 Beds 4 Baths 3,073 SqFt 0.190 Acres
Listing courtesy of Keller Williams Realty Centre
$560,000
9413 Glen Ridge Drive Laurel, Maryland
4 Beds 4 Baths 3,148 SqFt 0.150 Acres
Listing courtesy of Faris Homes
$549,990
1172 Patuxent Greens Drive Laurel, Maryland
3 Beds 4 Baths 2,440 SqFt 0.040 Acres
Listing courtesy of RLAH @properties
$545,000
8904 Royal Ridge Lane Laurel, Maryland
4 Beds 3 Baths 2,624 SqFt 0.360 Acres
Listing courtesy of Bennett Realty Solutions
$540,000
9504 Cissell Avenue Laurel, Maryland
5 Beds 3 Baths 1,232 SqFt 0.260 Acres
Listing courtesy of Cornwell Properties
$535,000
9348 Creekview Drive Laurel, Maryland
4 Beds 3 Baths 2,294 SqFt 0.120 Acres
Listing courtesy of CENTURY 21 New Millennium
$529,900
8441 Ice Crystal Drive 78 Laurel, Maryland
4 Beds 4 Baths 2,332 SqFt 0.460 Acres
Listing courtesy of Dream Realty, Inc.
$525,000
8710 Oxwell Lane Laurel, Maryland
5 Beds 3 Baths 2,414 SqFt 0.350 Acres
Listing courtesy of CENTURY 21 New Millennium
$525,000
4701 Montgomery Place Beltsville, Maryland
4 Beds 4 Baths 2,565 SqFt 0.240 Acres
Listing courtesy of Keller Williams Preferred Properties
$515,000
12006 Montague Drive Laurel, Maryland
4 Beds 3 Baths 2,150 SqFt 0.270 Acres
Listing courtesy of Compass
$499,990
10029 Ruffian Way B Laurel, Maryland
3 Beds 3 Baths 2,501 SqFt
Listing courtesy of NVR Services, Inc.
$499,900
10041 Superior Avenue Laurel, Maryland
4 Beds 3 Baths 2,100 SqFt 0.410 Acres
Listing courtesy of Rosselle Realty Services
$490,000
10107 Madronawood Drive Laurel, Maryland
4 Beds 3 Baths 2,016 SqFt 0.240 Acres
Listing courtesy of SaGar Real Estate Group, Inc.
$479,900
12102 Aspenwood Lane Laurel, Maryland
3 Beds 3 Baths 1,728 SqFt 0.280 Acres
Listing courtesy of Long & Foster Real Estate, Inc.
$474,900
12710 Rustic Rock Lane Beltsville, Maryland
4 Beds 5 Baths 1,818 SqFt 0.020 Acres
Listing courtesy of XRealty.NET LLC
$472,990
1728 Mill Branch Drive Laurel, Maryland
3 Beds 4 Baths 2,030 SqFt
Listing courtesy of NVR Services, Inc.
$467,500
6314 Sandy Street Laurel, Maryland
5 Beds 3 Baths 1,698 SqFt 0.230 Acres
Listing courtesy of Keller Williams Integrity
$465,000
7223 Winterfield Terrace Laurel, Maryland
4 Beds 3 Baths 2,999 SqFt 0.080 Acres
Listing courtesy of Maryland REO Realty, LLC
$460,000
14223 Greenview Drive Laurel, Maryland
3 Beds 3 Baths 1,549 SqFt 0.140 Acres
Listing courtesy of Realty Advantage
$460,000
7336 Breckenridge Street Laurel, Maryland
3 Beds 4 Baths 1,560 SqFt 0.040 Acres
Listing courtesy of Coldwell Banker Realty
$460,000
4602 Barbara Drive Beltsville, Maryland
4 Beds 3 Baths 2,078 SqFt 0.230 Acres
Listing courtesy of RE/MAX Specialists
$452,500
9081 Dumhart Road Laurel, Maryland
3 Beds 2 Baths 936 SqFt 0.260 Acres
Listing courtesy of Spring Hill Real Estate, LLC.
$449,990
1710 Mill Branch Drive Laurel, Maryland
3 Beds 3 Baths 1,741 SqFt
Listing courtesy of NVR Services, Inc.
$449,900
7113 Rowlock Alley Beltsville, Maryland
3 Beds 4 Baths 1,607 SqFt 0.030 Acres
Listing courtesy of NK Real Estate Group, LLC
$449,000
4805 Howard Avenue Beltsville, Maryland
4 Beds 2 Baths 1,170 SqFt 0.240 Acres
Listing courtesy of Smart Realty, LLC
$430,000
14106 Adkins Road Laurel, Maryland
3 Beds 2 Baths 1,120 SqFt 0.180 Acres
Listing courtesy of Fairfax Realty Premier
$429,900
7171 Brick Kiln Circle Beltsville, Maryland
3 Beds 3 Baths 1,280 SqFt 0.020 Acres
Listing courtesy of Exit Flagship Realty
$425,000
9678 Horsham Drive Laurel, Maryland
3 Beds 3 Baths 1,880 SqFt 0.050 Acres
Listing courtesy of Long & Foster Real Estate, Inc.
$424,900
10110 Seattle Slew Lane P Laurel, Maryland
2 Beds 2 Baths 1,638 SqFt
Listing courtesy of Keller Williams Flagship of Maryland
$420,000
10129 Seattle Slew Lane 5 Laurel, Maryland
3 Beds 3 Baths 1,537 SqFt
Listing courtesy of Coldwell Banker Realty
$395,000
15021 Laurel Oaks Lane 62 Laurel, Maryland
4 Beds 4 Baths 3,023 SqFt
Listing courtesy of Bethesda Realty Group LLC
$395,000
10771 Glen Hannah Drive Laurel, Maryland
3 Beds 3 Baths 1,670 SqFt 0.040 Acres
Listing courtesy of Northrop Realty
$390,000
9103 Erfurt Court Laurel, Maryland
3 Beds 4 Baths 1,728 SqFt 0.040 Acres
Listing courtesy of Witz Realty, LLC
$389,900
14259 Oxford Drive Laurel, Maryland
3 Beds 3 Baths 1,296 SqFt 0.030 Acres
Listing courtesy of Smart Realty, LLC
$389,900
6954 Mayfair Terrace Laurel, Maryland
2 Beds 4 Baths 1,364 SqFt 0.030 Acres
Listing courtesy of Maryland Real Estate Network
$375,000
4721 Powder Mill Road Beltsville, Maryland
2 Beds 1 Baths 852 SqFt 0.380 Acres
Listing courtesy of RE/MAX Advantage Realty
$375,000
3443 Cherry Hill Court Beltsville, Maryland
3 Beds 4 Baths 1,280 SqFt 0.030 Acres
Listing courtesy of Exit Flagship Realty
$349,900
405 Prince George Street Laurel, Maryland
3 Beds 1 Baths 1,380 SqFt 0.140 Acres
Listing courtesy of Compass
$347,000
8276 Mary Lee Lane Laurel, Maryland
2 Beds 2 Baths 1,210 SqFt 0.030 Acres
Listing courtesy of RE/MAX 100
$340,000
3 Dell Place Laurel, Maryland
2 Beds 1 Baths 1,184 SqFt 0.200 Acres
Listing courtesy of Northrop Realty
$300,000
611 Prince George Street Laurel, Maryland
4 Beds 1 Baths 1,023 SqFt 0.110 Acres
Listing courtesy of Keller Williams Realty Centre
$299,900
315 4Th Street Laurel, Maryland
3 Beds 2 Baths 1,400 SqFt 0.120 Acres
Listing courtesy of Rosselle Realty Services
$299,000
29 A Street Laurel, Maryland
3 Beds 1 Baths 1,134 SqFt 0.060 Acres
Listing courtesy of Coldwell Banker Realty
$285,000
9909 Mallard Drive Laurel, Maryland
3 Beds 2 Baths 1,260 SqFt 0.050 Acres
Listing courtesy of Fairfax Realty Elite
$277,000
7904 Bayshore Drive 4332 Laurel, Maryland
2 Beds 2 Baths 1,090 SqFt
Listing courtesy of Redfin Corp
$255,000
14231 Jib Street 22 Laurel, Maryland
2 Beds 2 Baths 1,100 SqFt
Listing courtesy of Keller Williams Realty Centre
$250,000
7601 E Arbory Court 301 Laurel, Maryland
2 Beds 2 Baths 1,148 SqFt
Listing courtesy of Long & Foster Real Estate, Inc.
$249,900
9240 Bridle Path Lane F Laurel, Maryland
3 Beds 2 Baths 1,076 SqFt
Listing courtesy of Invision Realty Inc.
$242,000
11323 Laurelwalk Drive 166 Laurel, Maryland
3 Beds 3 Baths 1,315 SqFt
Listing courtesy of Exit Flagship Realty
$234,000
7553 Woodbine Drive Laurel, Maryland
3 Beds 2 Baths 1,248 SqFt 0.080 Acres
Listing courtesy of Valu
$230,000
14006 Korba Place 3D Laurel, Maryland
2 Beds 1 Baths 692 SqFt
Listing courtesy of HomeSmart
$230,000
9045 N Laurel Road C Laurel, Maryland
2 Beds 2 Baths 1,008 SqFt
Listing courtesy of Nitro Realty
$230,000
4505 Romlon Street 101 Beltsville, Maryland
3 Beds 2 Baths 1,101 SqFt
Listing courtesy of Redfin Corp
$220,000
9220 Bridle Path Lane M Laurel, Maryland
2 Beds 2 Baths 940 SqFt
Listing courtesy of RE/MAX Professionals
$209,900
11364 Cherry Hill Road 303 Beltsville, Maryland
4 Beds 2 Baths 1,296 SqFt
Listing courtesy of Orchard Brokerage, LLC
$200,000
14316 Bowsprit Lane 712 Laurel, Maryland
1 Beds 1 Baths 810 SqFt
Listing courtesy of Long & Foster Real Estate, Inc.
$200,000
14073 Vista Drive 132 Laurel, Maryland
1 Beds 1 Baths 655 SqFt
Listing courtesy of RE/MAX Excellence Realty
$199,900
11420 Laurelwalk Drive 67 Laurel, Maryland
3 Beds 3 Baths 1,293 SqFt
Listing courtesy of Trademark Realty, Inc
$185,000
11382 Cherry Hill Road 1J304 Beltsville, Maryland
3 Beds 2 Baths 1,161 SqFt 0.040 Acres
Listing courtesy of CENTURY 21 Envision
$179,000
11226 Cherry Hill Road 303 Beltsville, Maryland
3 Beds 2 Baths 1,297 SqFt
Listing courtesy of RE/MAX Excellence Realty
$172,000
9090 Moonshine Hollow M Laurel, Maryland
2 Beds 2 Baths 966 SqFt
Listing courtesy of Northrop Realty
$170,000
11202 Cherry Hill Road 62 Beltsville, Maryland
1 Beds 1 Baths 922 SqFt
Listing courtesy of Knot6 Real Estate Services
$165,000
11408 Cherry Hill Road 304 Beltsville, Maryland
2 Beds 2 Baths 989 SqFt
Listing courtesy of JDS Real Estate Services, Inc
$162,200
11222 Cherry Hill Road 265 Beltsville, Maryland
1 Beds 1 Baths 922 SqFt 0.050 Acres
Listing courtesy of Exit Landmark Realty
$159,900
4417 Romlon Street 204 Beltsville, Maryland
2 Beds 2 Baths 888 SqFt
Listing courtesy of V.I.P. Realtors, LLC
$149,900
11350 Cherry Hill Road 201 Beltsville, Maryland
2 Beds 2 Baths 989 SqFt
Listing courtesy of Smart Realty, LLC
$142,000
11408 Cherry Hill MC-301 Beltsville, Maryland
1 Beds 1 Baths 759 SqFt
Listing courtesy of Weichert, REALTORS
$139,995
11362 Cherry Hill Road 1T103 Beltsville, Maryland
1 Beds 1 Baths 759 SqFt
Listing courtesy of Samson Properties
$139,900
11370 Cherry Hill Road 1P202 Beltsville, Maryland
1 Beds 1 Baths 759 SqFt
Listing courtesy of Signature Home Realty LLC
$129,900
11370 Cherry Hill Road 1P304 Beltsville, Maryland
1 Beds 1 Baths 759 SqFt
Listing courtesy of Berkshire Hathaway HomeServices Homesale Realty
Featured Properties: Washington D.C., MD
$995,000
7015 5Th Street NW Washington, District Of Columbia
5 Beds 3 Baths 1,706 SqFt 0.160 Acres
Listing courtesy of Compass
$975,000
6350 31St Street NW Washington, District Of Columbia
4 Beds 3 Baths 2,481 SqFt 0.130 Acres
Listing courtesy of Long & Foster Real Estate, Inc.
$950,000
6712 4Th Street NW Washington, District Of Columbia
3 Beds 3 Baths 1,619 SqFt 0.180 Acres
Listing courtesy of Murray Real Estate Corp.
$925,000
1202 Franklin Street NE Washington, District Of Columbia
4 Beds 4 Baths 2,130 SqFt 0.050 Acres
Listing courtesy of Long & Foster Real Estate, Inc.
$925,000
2651 Rhode Island Avenue NE Washington, District Of Columbia
5 Beds 5 Baths 3,500 SqFt 0.080 Acres
Listing courtesy of Keller Williams Capital Properties
$925,000
3614 26Th Street NE Washington, District Of Columbia
4 Beds 4 Baths 2,210 SqFt 0.090 Acres
Listing courtesy of Home Source Real Estate Solutions
$919,000
2201 Taylor Street NE Washington, District Of Columbia
4 Beds 4 Baths 2,250 SqFt 0.080 Acres
Listing courtesy of Samson Properties
$915,000
3108 Westover Drive SE Washington, District Of Columbia
4 Beds 5 Baths 3,658 SqFt 0.130 Acres
Listing courtesy of Compass
$885,000
3016 Thayer Street NE Washington, District Of Columbia
4 Beds 5 Baths 2,716 SqFt 0.130 Acres
Listing courtesy of RLAH @properties
$879,000
1716 3Rd Street NE B Washington, District Of Columbia
3 Beds 2 Baths 1,733 SqFt
Listing courtesy of City Houses, LLC
$875,000
4606 Lee Street NE Washington, District Of Columbia
4 Beds 4 Baths 2,088 SqFt 0.060 Acres
Listing courtesy of Exit Flagship Realty
$875,000
1922 Capitol Avenue NE Washington, District Of Columbia
3 Beds 2 Baths 1,120 SqFt 0.080 Acres
Listing courtesy of Samson Properties
$875,000
5618 New Hampshire Avenue NE Washington, District Of Columbia
4 Beds 3 Baths 2,558 SqFt 0.080 Acres
Listing courtesy of Real Estate Row Inc.
$850,000
1620 17Th Place SE Washington, District Of Columbia
4 Beds 4 Baths 3,360 SqFt 0.060 Acres
Listing courtesy of RE/MAX United Real Estate
$850,000
3356 Minnesota Avenue SE Washington, District Of Columbia
5 Beds 6 Baths 4,759 SqFt 0.090 Acres
Listing courtesy of Keller Williams Capital Properties
$849,000
3100 Central Avenue NE Washington, District Of Columbia
5 Beds 3 Baths 2,498 SqFt 0.120 Acres
Listing courtesy of Homes By Owner
$849,000
2906 25Th Street NE Washington, District Of Columbia
5 Beds 3 Baths 2,200 SqFt 0.140 Acres
Listing courtesy of Highpoint Real Estate
$844,900
1520 Montana Avenue NE Washington, District Of Columbia
7 Beds 4 Baths 2,923 SqFt 0.100 Acres
Listing courtesy of RE/MAX Excellence Realty
$844,900
1414 Kearny Street NE Washington, District Of Columbia
4 Beds 4 Baths 1,340 SqFt 0.110 Acres
Listing courtesy of Keller Williams Capital Properties
$835,000
5007 Lee Street NE Washington, District Of Columbia
7 Beds 6 Baths 5,200 SqFt 0.110 Acres
Listing courtesy of Redfin Corp
$825,000
4015 19Th Street NE Washington, District Of Columbia
4 Beds 4 Baths 2,338 SqFt 0.160 Acres
Listing courtesy of Redfin Corp
$824,999
2423 34Th Street SE Washington, District Of Columbia
4 Beds 3 Baths 2,628 SqFt 0.180 Acres
Listing courtesy of Redfin Corp
$795,000
35 Milmarson Place NW Washington, District Of Columbia
4 Beds 3 Baths 2,205 SqFt 0.090 Acres
Listing courtesy of Fairfax Realty Elite
$789,900
308 Quackenbos Street NE Washington, District Of Columbia
4 Beds 4 Baths 1,911 SqFt 0.070 Acres
Listing courtesy of District Realty INC
$784,900
5932 3Rd Street NW Washington, District Of Columbia
3 Beds 3 Baths 1,844 SqFt 0.140 Acres
Listing courtesy of D.S.A. Properties & Investments LLC
Howard County HomeStarter Loan
Howard County HomeStarter loan is now available. This is a loan up to $40,000 that can be used for down payment and/or closing costs. Available to first time home buyers onlyLoan term must match first mortgage loan, typically 30 yearsLoan must be repaid back upon sale, refinance or defaultInterest Rate is 2% below the primary loan rateBuyer must contribute at least one monthly payment on primary loan plus $1,000Back ratio no greater than 45%Borrower assets greater than 2 months reserves must be used firstPurchase price limit is $465,758 (that will increase in 2021 once loan limits are established for program) The income limits are as follows (these should also increase in 2021: 1 person household $54,9502 person household $62,8003 person household $70,6504 person household $78,5005 person household $84,8006 person household $91,1007 person household $97,3508 person household $103,650 Call 301-483-8073 or email - [email protected] for a referral to a senior loan … [Read more...]
MORTGAGE LOAN PROGRAMS IN MARYLAND
The Maryland Mortgage Program is committed to helping buyers purchase a home in the State of Maryland. The Maryland Mortgage Program offers a range of products to help Marylanders realize their dream of homeownership. Let’s take a look at the programs that are getting rave reviews…. MD SMARTBUY – MD SmartBuy rolls up to 15% of the home purchase price into forgivable loan for the borrower to pay off their outstanding student loan debt (maximum payoff of $40,000). MMP 1st TIME ADVANTAGE 3% DPA LOAN – offers Down Payment Assistance equal to 3% of the first mortgage while still maintaining a low interest rate on the first mortgage. 1st. TIME ADVANTAGE DIRECT – No DPA (Down Payment Assistance) but offers the lowest interest rate available with an MMP loan- often under 3%. To learn more about how the programs can help you or to get pre-approved for a loan with help of one of our Senior Loan Officers - Call 301-483-8073 or Email - [email protected] for a referral Today! … [Read more...]
Montgomery County Homeownership Program
Montgomery County Homeownership Program announced that effective immediately the funding of $1M dollars appropriated to help buyers in Montgomery County with down payment and/or closing costs assistance funds. This money will go FAST! Buyers must act NOW….. There was a couple rounds of this money last year and it ran out in a month or so! Highlights of the program are as follows: Montgomery Homeownership Program second lien will be a zero percent deferred down payment loan forgiven after 10 years.Maximum down payment loan will be 40% of total household income up to a maximum of $25,000.00 for down payment monies.Monies may be used for down payment and/or closing costs.No minimum contribution by the buyer (buyer typically gets in with no money out of pocket).Can be combined with MPP’s Revolving Closing Cost Assistance Program up to $10,000 (RCCAP/”5 for 5”) but the borrower must work in Montgomery County.Can only be used with the Option 1 … [Read more...]
New Loan Program Available in the District of Columbia
New loan program available in the District of Columbia to help buyers with a 3% loan for the down payment: This new program is named DC4ME PLUS which will be available for certain DC employees. The eligibility requirements for this new program are as follows: DC4ME PLUS is a first-time homebuyer mortgage program offered to current full-time district government employees. This include employees of District government-based instrumentalities, independent agencies, District of Columbia Public Charter Schools and organizations. The applicant/borrower’s employer must fall under the oversight of the Council of the District of Columbia; Applicant must be a 1st time homebuyer; Maximum household income may not exceed 120% of Adjusted Modified Income (AMI); The first trust will be a 30 year fixed rate Conventional Freddie Mac HFA Advantage loan and must follow US Bank HFA Advantage guidelines;Maximum 50% DTI; maximum loan amount of $484,350; … [Read more...]
Buying a home – SmartBuy Program
Buying a home - SMARTBUY PROGRAM got easier with the Maryland SmartBuy Program. This is a program that the State of Maryland rolled out in 2016 to help buyers pay their student loan debt and purchase a home. The original program could only be used for DHCD properties. The inventory was very low, so it did not really help too many people. The State of Maryland expanded SMARTBUY PROGRAM last year. The program is now available for ANY property in the Maryland. The property must pass an appraisal inspection. And, the seller is willing to make repairs. How the SmartBuy Program works – if you are buyer with $39,000 in student loan debt and looking to purchase a home for $285,000. The program will help extinguish ALL of your student loan debt at settlement. The buyer will qualify for the maximum assistance through the SmartBuy Program. For example - A sales price of $267,000 will qualify a buyer for assistance up to $40,000 - $267,000 x … [Read more...]
Maryland Mortgage Program Announces – New Products!
The Maryland Mortgage Program announced some AMAZING new products. Buyers credit score should be 640 or higher. Debt to income ratio should not exceed 45%. And buyers cannot have own any real estate at the time of closing. Although they COULD have owned real estate prior to settling on their new home. The Chenoa fund has existed to help this type of buyer. However, this product offering does not have the expansiveness of the new mortgage product offered through the State of Maryland - Maryland Mortgage Program. Here are the highlights: Offers buyers a loan of 3% to be used towards the down paymentOffers buyers a GRANT of 3% or 4% of the loan amount to be used towards the down payment and/or closing costs Plus the Home Ability program started offering mortgages about a month ago. This program will help buyers who have a disability or have a household member with a disability. The program offer buyers 25% in the form of a loan to be used towards the down payment … [Read more...]
NEW MORTGAGE PROGRAM for 2019
New Mortgage program - Did you know that Montgomery County has two AMAZING down payment programs designed to help first time home buyers? These programs will help buyers get into a home with NO money at all. And, they make your offer competitive to the seller because they can cover the closing costs so you don't have to ask the seller for help! Montgomery County Home Ownership III Montgomery Home ownership Program second lien will be a zero percent deferred down payment loan;Maximum down payment loan will be 40% of total household income up to a maximum of $25,000.00;Down payment funds may be used for down payment and/or closing costs;It can be combined with a Special Assistance Grant; No minimum contribution by the buyer, reduced mortgage insurance rates and very high income limits; andMaryland Home Credit Program is available with this product; andBorrowers must meet all MMP and agency requirements, minimum 640 credit score, 45% debt to income, typically first … [Read more...]
A Quick Refresher on Loan Programs to help Buyers
LOOKING FOR A MORTGAGE LOAN? A quick refresher on loan programs to help buyers purchase a home with NO Money down! The Chenoa product is designed to open up doors to buyers with limited money, lower credit scores and higher debt to income ratios. In some circumstances, people that are buying a new primary residence can still use the program and keep their existing home!Here are some quick highlights of the program.* Offers 3.50% second for the down payment- FHA financing only;* Credit scores as low as 620. Buyer will have to take an online home buying course prior to contract if their score is between 620 and 639;* Offered in MD, DC and VA;* 50 percent debt to income on all programs offered through the Chenoa product (most down payment programs have a 45% cap for the debt to income ratio);* No income limits for their repayable 2nd product (this is huge and completely different than any … [Read more...]
Ask the Experts – How to Price a Home to Sell?
Ask the Experts – How to price a home to sell is one of the most difficult challenges facing real estate brokers and their agents. Sellers attentively listen to their Realtors’ recommendation on the market value and recent sales in the neighborhood. And subsequently hike the sales price up with the belief that they can reduce the price later. The flip side of this scenario - the agent agrees with the higher price! Most real estate agents is excited to get a new listing and will gladly accept the high price listing with a mutual agreement that the sales price be reviewed after 30 - 45 days of marketing the property. With this contingency or agreement in place you can be assured the home will not become stale on the market which results in a lack of overall activity. Price the home from the start realistically comparing similar properties with the current market conditions and recent sales in your neighborhood! As a seller you do not want to not look like a clueless homeowner. … [Read more...]
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