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...]
Maryland Mortgage Program
The Maryland Mortgage Program announced two very important updates that will have even more positive impact for buyers. SMARTBUY 2.0 UPDATE Effective for Smart Buy 2.0 reservations dated on or after October 1, 2018, the following will be implemented.: * The dollar cap for the second lien is being raised to $40,000 from $30,000. Buyers are eligible to receive up to 15% of the sales price capped at a $40,000 loan to pay their student loan debt. All student debt from at least one buyer must be paid ENTIRELY in full prior to closing. * The second mortgage is a 5-year forgivable loan of up to 15% of the purchase price, not to exceed $40,000. * This second loan will be used to pay off the borrower’s outstanding student debt balance at the time of home purchase. If there are two Maryland Mortgage Program (MMP) borrowers, only one borrower’s student loan balance must be paid off. The funds also may be used to pay off the other borrower’s student debt ONLY if the … [Read more...]
Montgomery County Program Announced
Montgomery County mortgage announced today by the Community Development Administration. The funds are on a first come - first serve basis. And they will go lightning fast! As a result of the very successful Phase I and II of the Montgomery Home Ownership Program. The Community Development Administration in collaboration with Montgomery County is pleased to announce Phase III is open to accept reservations. The Montgomery Home Ownership Program is designed to assist eligible home buyers who purchase a home in Montgomery County. Combining a Maryland Mortgage Program (MMP) first mortgage loan with a generous down payment assistance (DPA) second loan. Highlights of the program are as follows: * 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 * … [Read more...]
Montgomery County Home Ownership
Montgomery County Home Ownership Program II was announced by the State of Maryland. Funds will go fast - Buyers should ASAP! Here are the details of the Montgomery County Home ownership Program II: Down payment assistance will be limited to 40% of the total household income with a maximum total of $25,000 per home. These funds can be used toward down payment and/or closing costs. Example: A buyer has total household income of $85,000 so they would be eligible to receive $25,000 in assistance. Down payment assistance will be in the form of a loan at zero percent and will appear as a 2nd lien on title. Funds will have to be repaid back if the buyer ever sells their home. Available to all first time home buyers in Montgomery County. First time home buyers are defined as someone who has not owned a home in the last 3 years or more. First time home buyers requirements will be waived if property is in a targeted area - or if buyer is an honorably … [Read more...]
First Time Home Buyers
First Time Home Buyers can now take advantage of the MY HOME II and Maryland Preferred Rate Loan - effective immediately. This is a special partnership with Prince George’s County. The collaboration pairs the Maryland Preferred Rate loan which offers the lowest rate available through the Maryland Mortgage program (MMP). Now, you take advantage of a generous down payment assistance provided by the Prince George’s County MY HOME II program. The two programs require separate applications. Maryland Preferred: A Maryland Mortgage loan at a very attractive interest rate (shown on our website and effective as of time of reservation). Application is made through an approved MMP lender. For more information, please see the fact sheet available on mmp.maryland.gov/PrinceGeorges. MY HOME II: A home buyer assistance program administered by the Redevelopment Authority of Prince George’s County. Only lenders approved by both MMP and MY HOME II can offer both programs. MY HOME II … [Read more...]
Find the Best Agent to Sell Your House
Find the Best Agent to Sell Your House Ask detailed questions about their experience and negotiation skills to help you find the right agent for your home sale. Read Visit houselogic.com for more articles like this. Copyright 2016 NATIONAL ASSOCIATION OF REALTORS® … [Read more...]
6 Tips for Choosing the Best Offer for Your Home
6 Tips for Choosing the Best Offer for Your Home Have a plan for reviewing purchase offers so you don’t let the best slip through your fingers. Read Visit houselogic.com for more articles like this. Copyright 2016 NATIONAL ASSOCIATION OF REALTORS® … [Read more...]
Are you Ready to Make the Leap into Home Ownership?
Are you ready to make the leap into home ownership? Are you still living at home? Renting a home to own? While everyone moves at their own pace now is the time to take advantage of the historically low interest rates. In addition to, local and federal programs available to first time home owners. Here are some a few signs to observe to determine if it is time to own your own home. Let's take a look at some of the reasons you should consider to justify your home buying decision. Are You Sticking Around? If you plan on moving soon for a job transfer. Or, plan on moving in the future for other family reasons - it may be better to rent. However, if you are thinking about living in the same city, town or within the same county for years to come - it is time to put down roots! You will appreciate the stability that comes with home ownership. Home ownership can make you more prepared for a marriage and/or a family if that's the lifestyle you prefer. The stability of … [Read more...]
Victoria Falls Market Watch – Single Family And Villa Homes as of May, 2016
Victoria Falls Market Watch – Single Family and Villa Homes as of May, 2016 provide a quick snapshot of the real estate market activity within the Victoria Falls Community from January 2016 until today. A low inventory of available homes and increasing sales prices continue to define the residential real estate market across the country and in Victoria Falls. Currently, there is one Active Single Family home available for $524,900. One Craftsman style villa listed for $374,900. And, two Villas listed under the “Coming Soon” status in the MRIS database for $379,900 and $434,900 respectively. Victoria Falls Market Watch – Single Family and Villa Homes activity summary follows: Active -13609 Autumn End Terrace - List Price: $524,900 - Days on Market – 6. Approximate tax living area: 2,174 - $241.45 per square foot. This Thoreau model features four bedrooms, two full baths, and a half bath, fireplace and two car garage. Active -13103 Summertree Way - … [Read more...]
