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...]
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
$1,300,000
6619, 6703 & 6709 Brooklyn Bridge Rd Laurel, Maryland
11 Beds 9 Baths 3,250 SqFt 1.950 Acres
Listing courtesy of Real Estate Teams, LLC
$1,049,900
9141 Old Scaggsville Road Laurel, Maryland
5 Beds 3 Baths 6,564 SqFt 0.530 Acres
Listing courtesy of Samson Properties
$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.
$899,900
8485 Leishear Road Laurel, Maryland
7 Beds 5 Baths 6,604 SqFt 0.580 Acres
Listing courtesy of Monument Sotheby's International Realty
$875,000
8604 Saddleback Place Laurel, Maryland
4 Beds 5 Baths 5,343 SqFt 0.190 Acres
Listing courtesy of Smart Realty, LLC
$849,999
7803 Kilcroney Court Laurel, Maryland
4 Beds 5 Baths 5,944 SqFt 0.210 Acres
Listing courtesy of Long & Foster Real Estate, Inc.
$799,024
11409 Edmonston Road Beltsville, Maryland
5 Beds 4 Baths 3,180 SqFt 0.650 Acres
Listing courtesy of Coldwell Banker Realty
$795,000
12215 Castle Pines Drive Beltsville, Maryland
4 Beds 4 Baths 4,964 SqFt 0.180 Acres
Listing courtesy of Excel Realty Corp.
$795,000
7403 Olive Branch Way Laurel, Maryland
4 Beds 4 Baths 3,416 SqFt 0.310 Acres
Listing courtesy of Samson Properties
$784,900
10304 Pimlico Place Laurel, Maryland
4 Beds 3 Baths 3,105 SqFt 0.420 Acres
Listing courtesy of Houwzer, LLC
$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
$735,000
14505 Highbury Lane Laurel, Maryland
4 Beds 4 Baths 3,662 SqFt 0.150 Acres
Listing courtesy of Weichert, REALTORS
$699,000
9928 Cypress Way Laurel, Maryland
4 Beds 4 Baths 3,160 SqFt 0.060 Acres
Listing courtesy of Cummings & Co. Realtors
$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.
$669,990
1001 Highpoint Trail Laurel, Maryland
3 Beds 3 Baths 2,414 SqFt 0.100 Acres
Listing courtesy of Dan Ryan Builders Realty, LLC
$669,900
13916 Chadsworth Terrace Laurel, Maryland
4 Beds 3 Baths 2,966 SqFt 0.200 Acres
Listing courtesy of Keller Williams Realty Centre
$630,000
4715 Powder Mill Road Beltsville, Maryland
3 Beds 2 Baths 1,287 SqFt 0.560 Acres
Listing courtesy of Blufin Realty, LLC.
$619,000
8549 Pineway Drive Laurel, Maryland
5 Beds 4 Baths 2,991 SqFt 0.830 Acres
Listing courtesy of Maryland Pro Realty
$614,900
14713 Exbury Lane Laurel, Maryland
4 Beds 4 Baths 2,288 SqFt 0.250 Acres
Listing courtesy of Evergreen Properties
$600,000
14703 Exbury Lane Laurel, Maryland
4 Beds 4 Baths 3,344 SqFt 0.240 Acres
Listing courtesy of RE/MAX Advantage Realty
$599,990
1052 Overlook Way Laurel, Maryland
3 Beds 4 Baths 2,550 SqFt 0.080 Acres
Listing courtesy of Dan Ryan Builders Realty, LLC
$599,900
8749 Cardinal Forest Circle Laurel, Maryland
4 Beds 3 Baths 2,316 SqFt 0.330 Acres
Listing courtesy of Cummings & Co. Realtors
$595,000
11036 Harding Road Laurel, Maryland
5 Beds 3 Baths 2,212 SqFt 0.720 Acres
Listing courtesy of Long & Foster Real Estate, Inc.
$577,460
1035 Flester Lane Laurel, Maryland
3 Beds 4 Baths 2,203 SqFt 0.050 Acres
Listing courtesy of Dan Ryan Builders Realty, LLC
$571,925
1727 Mill Branch Drive Laurel, Maryland
3 Beds 4 Baths 0.040 Acres
Listing courtesy of RLAH @properties
$569,900
13409 Birkhall Drive Laurel, Maryland
5 Beds 4 Baths 1,977 SqFt 0.450 Acres
Listing courtesy of EXP Realty, LLC
$564,900
14226 Westside Ridge Drive Laurel, Maryland
3 Beds 4 Baths 1,848 SqFt 0.050 Acres
Listing courtesy of Long & Foster Real Estate, Inc.
$549,990
1031 Overlook Way Laurel, Maryland
4 Beds 4 Baths 1,943 SqFt 0.050 Acres
Listing courtesy of Dan Ryan Builders Realty, LLC
$549,900
9354 Northgate Road Laurel, Maryland
5 Beds 4 Baths 1,744 SqFt 0.140 Acres
Listing courtesy of Smart Realty, LLC
$549,500
11714 Balsamwood Terrace Laurel, Maryland
4 Beds 3 Baths 1,675 SqFt 0.230 Acres
Listing courtesy of Keller Williams Flagship of Maryland
$544,665
1021 Flester Lane Laurel, Maryland
4 Beds 4 Baths 2,203 SqFt 0.050 Acres
Listing courtesy of Dan Ryan Builders Realty, LLC
$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
6619 Brooklyn Bridge Road Laurel, Maryland
4 Beds 3 Baths 2,700 SqFt 1 Acres
Listing courtesy of Real Estate Teams, LLC
$525,000
9523 Kings Grant Road Laurel, Maryland
3 Beds 3 Baths 1,775 SqFt 0.140 Acres
Listing courtesy of Long & Foster Real Estate, Inc.
$510,195
124 Green Branch Road Laurel, Maryland
3 Beds 3 Baths 2,030 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
$499,000
201 Main Street Laurel, Maryland
4 Beds 3 Baths 2,400 SqFt 0.150 Acres
Listing courtesy of Long & Foster Real Estate, Inc.
$498,000
10107 Madronawood Drive Laurel, Maryland
4 Beds 3 Baths 2,016 SqFt 0.240 Acres
Listing courtesy of SaGar Real Estate Group, Inc.
$495,000
6902 Fitzpatrick Drive Laurel, Maryland
5 Beds 3 Baths 1,974 SqFt 0.270 Acres
Listing courtesy of Keller Williams Realty Centre
$489,000
1015 Turney Avenue Laurel, Maryland
6 Beds 3 Baths 1,404 SqFt 0.140 Acres
Listing courtesy of Smart Realty, LLC
$489,000
12710 Rustic Rock Lane Beltsville, Maryland
4 Beds 5 Baths 1,660 SqFt 0.020 Acres
Listing courtesy of XRealty.NET LLC
$487,500
12228 Valerie Lane Laurel, Maryland
4 Beds 3 Baths 2,228 SqFt 0.310 Acres
Listing courtesy of CENTURY 21 Envision
$485,900
13107 Wellford Drive Beltsville, Maryland
5 Beds 3 Baths 1,232 SqFt 0.190 Acres
Listing courtesy of Cummings & Co. Realtors
$485,000
8717 Granite Lane Laurel, Maryland
4 Beds 3 Baths 2,228 SqFt 0.290 Acres
Listing courtesy of CENTURY 21 Envision
$480,000
9081 Dumhart Road Laurel, Maryland
3 Beds 2 Baths 936 SqFt 0.260 Acres
Listing courtesy of Spring Hill Real Estate, LLC.
$475,000
4602 Barbara Drive Beltsville, Maryland
4 Beds 3 Baths 2,078 SqFt 0.230 Acres
Listing courtesy of RE/MAX Specialists
$474,900
8705 Crestmont Lane Laurel, Maryland
6 Beds 3 Baths 2,414 SqFt 0.460 Acres
Listing courtesy of Taylor Properties
$469,000
12707 Brickyard Boulevard Beltsville, Maryland
3 Beds 5 Baths 1,728 SqFt 0.020 Acres
Listing courtesy of Douglas Realty, LLC
$450,000
9212 Ispahan Loop Laurel, Maryland
3 Beds 3 Baths 1,978 SqFt 0.080 Acres
Listing courtesy of Keller Williams Chantilly Ventures, LLC
$444,900
5309 Brewer Road Beltsville, Maryland
5 Beds 2 Baths 2,082 SqFt 0.300 Acres
Listing courtesy of Fairfax Realty of Tysons
$439,990
10028 American Pharoh Way A Laurel, Maryland
3 Beds 3 Baths 1,628 SqFt
Listing courtesy of NVR Services, Inc.
$438,000
8704 Chestnut Ridge Drive Laurel, Maryland
3 Beds 2 Baths 1,022 SqFt 0.170 Acres
Listing courtesy of Bennett Realty Solutions
$425,000
14026 Briarwood Drive Laurel, Maryland
4 Beds 3 Baths 1,752 SqFt 0.260 Acres
Listing courtesy of Realty Executives Premier
$425,000
9205 Burley Lane Laurel, Maryland
3 Beds 4 Baths 2,024 SqFt 0.060 Acres
Listing courtesy of Northrop Realty, A Long & Foster Company
$399,990
10010 Ruffian K Laurel, Maryland
2 Beds 2 Baths 1,489 SqFt
Listing courtesy of NVR Services, Inc.
$389,995
8729 Cresthill Court Laurel, Maryland
3 Beds 3 Baths 1,560 SqFt 0.020 Acres
Listing courtesy of Samson Properties
$380,000
14319 Oxford Drive Laurel, Maryland
3 Beds 3 Baths 1,224 SqFt 0.030 Acres
Listing courtesy of Cummings & Co. Realtors
$375,000
14222 Oxford Drive Laurel, Maryland
2 Beds 3 Baths 1,400 SqFt 0.040 Acres
Listing courtesy of RE/MAX Realty Group
$375,000
3443 Cherry Hill Court Beltsville, Maryland
3 Beds 4 Baths 1,280 SqFt 0.030 Acres
Listing courtesy of Exit Flagship Realty
$369,000
9107 Tymat Court Laurel, Maryland
3 Beds 2 Baths 1,360 SqFt 0.060 Acres
Listing courtesy of Redfin Corp
$340,000
14314 Bonnett Lane Laurel, Maryland
3 Beds 3 Baths 1,280 SqFt 0.040 Acres
Listing courtesy of Samson Properties
$326,000
13501 Belle Chasse Boulevard 112 Laurel, Maryland
2 Beds 2 Baths 1,553 SqFt
Listing courtesy of Berkshire Hathaway HomeServices PenFed Realty
$325,000
14236 Oxford Drive Laurel, Maryland
2 Beds 2 Baths 1,088 SqFt 0.050 Acres
Listing courtesy of EXP Realty, LLC
$325,000
6709 Brooklyn Bridge Road Laurel, Maryland
2 Beds 1 Baths 980 SqFt 0.480 Acres
Listing courtesy of Real Estate Teams, LLC
$299,000
12004 Beltsville Drive Beltsville, Maryland
2 Beds 2 Baths 1,120 SqFt 0.040 Acres
Listing courtesy of Fairfax Realty Premier
$291,000
7904 Bayshore Drive 4332 Laurel, Maryland
2 Beds 2 Baths 1,090 SqFt
Listing courtesy of Redfin Corp
$199,999
14022 Vista Drive 72 Laurel, Maryland
1 Beds 1 Baths 662 SqFt
Listing courtesy of RE/MAX Solutions
$199,500
14111 Yardarm Way 1209 Laurel, Maryland
1 Beds 1 Baths 616 SqFt
Listing courtesy of Cook Real Estate Brokerage
$185,000
4409 Romlon Street 202 Beltsville, Maryland
3 Beds 2 Baths 1,172 SqFt
Listing courtesy of Long & Foster Real Estate, Inc.
$165,000
11408 Cherry Hill Road 304 Beltsville, Maryland
2 Beds 2 Baths 989 SqFt
Listing courtesy of JDS Real Estate Services, Inc
$159,900
4417 Romlon Street 204 Beltsville, Maryland
2 Beds 2 Baths 888 SqFt
Listing courtesy of V.I.P. Realtors, LLC
$159,900
11350 Cherry Hill Road 201 Beltsville, Maryland
2 Beds 2 Baths 989 SqFt
Listing courtesy of Smart Realty, LLC
$153,000
4427 Romlon Street 202 Beltsville, Maryland
2 Beds 2 Baths
Listing courtesy of Smart Realty, LLC
$150,000
11238 Cherry Hill Road 102 Beltsville, Maryland
1 Beds 1 Baths 1,052 SqFt
Listing courtesy of Long & Foster Real Estate, Inc.
$142,000
11408 Cherry Hill MC-301 Beltsville, Maryland
1 Beds 1 Baths 759 SqFt
Listing courtesy of Weichert, REALTORS
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
$980,000
1386 Nicholson Street NW Washington, District Of Columbia
4 Beds 4 Baths 1,704 SqFt 0.090 Acres
Listing courtesy of Smart Realty, LLC
$950,000
2530 Elvans Road SE Washington, District Of Columbia
3 Beds 2 Baths 872 SqFt 0.190 Acres
Listing courtesy of Keller Williams Realty
$950,000
1027 Hamlin Street NE Washington, District Of Columbia
3 Beds 4 Baths 1,528 SqFt 0.030 Acres
Listing courtesy of Compass
$950,000
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.
$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.
$939,999
4449 South Dakota Avenue NE Washington, District Of Columbia
3 Beds 3 Baths 2,131 SqFt 0.100 Acres
Listing courtesy of Cottage Street Realty LLC
$925,000
2651 Rhode Island Avenue NE Washington, District Of Columbia
5 Beds 5 Baths 1,361 SqFt 0.080 Acres
Listing courtesy of Keller Williams Capital Properties
$899,999
3016 Thayer Street NE Washington, District Of Columbia
4 Beds 5 Baths 2,716 SqFt 0.130 Acres
Listing courtesy of RLAH @properties
$899,000
2904 16Th Street NE Washington, District Of Columbia
4 Beds 2 Baths 2,150 SqFt 0.170 Acres
Listing courtesy of Smart Realty, LLC
$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
1922 Capitol Avenue NE Washington, District Of Columbia
3 Beds 2 Baths 1,120 SqFt 0.080 Acres
Listing courtesy of Samson Properties
$874,900
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
$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
$849,990
4100 18Th Place NE Washington, District Of Columbia
4 Beds 4 Baths 2,065 SqFt 0.110 Acres
Listing courtesy of TTR Sotheby's International Realty
$825,000
6005 New Hampshire Avenue NE Washington, District Of Columbia
4 Beds 4 Baths 1,983 SqFt 0.060 Acres
Listing courtesy of Samson Properties
$825,000
35 Milmarson Place NW Washington, District Of Columbia
4 Beds 3 Baths 2,205 SqFt 0.090 Acres
Listing courtesy of Fairfax Realty Elite
$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
$815,000
1938 NE Bunker Hill Road NE Washington, District Of Columbia
3 Beds 3 Baths 1,639 SqFt 0.170 Acres
Listing courtesy of EXP Realty, LLC
$799,500
2329 Park Place SE Washington, District Of Columbia
3 Beds 4 Baths 1,584 SqFt 0.080 Acres
Listing courtesy of Matthew Spicer Real Estate, LLC
$799,000
2906 25Th Street NE Washington, District Of Columbia
5 Beds 3 Baths 2,200 SqFt 0.140 Acres
Listing courtesy of Highpoint Real Estate
$795,000
2910 Clinton Street NE Washington, District Of Columbia
5 Beds 3 Baths 2,298 SqFt 0.140 Acres
Listing courtesy of Redfin Corp
$785,000
5415 8Th Street NE Washington, District Of Columbia
4 Beds 3 Baths 2,190 SqFt 0.140 Acres
Listing courtesy of Keller Williams Preferred Properties
$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
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...]
Apply for a Mortgage after a Bankruptcy, Foreclosure or Short sale
How long does a buyer have to wait before they can Apply for a Mortgage after a Bankruptcy, Foreclosure or Short Sale? FHA Guidelines Foreclosure or Deed in Lieu of Foreclosure * 3 years from date foreclosure completed and transferred back to the bank. The date the Deed is transferred out of the borrower's name is the date that will be used for seasoning. * Less than 3 years but not less than 12 months from date of foreclosure completion and transferred back to bank with acceptable extenuating circumstances. Extenuating circumstances are defined as death in family, medical illness and not divorce or loss of job. Short Sale * 3 years from date sale closed and transferred to the new owner. * No waiting period if borrower had no late payments on any mortgages. And consumer debts within the 12 month period preceding the short sale . AND the buyers are not taking advantage of declining market conditions. How long does a buyer have to wait before they can apply … [Read more...]
Maryland Smart Buy Program
Maryland Smart Buy Program Expansion to $$ 3 Million $$ - Program Will Offer More Opportunities for Homebuyers With Student Debt! On July 16, the Hogan administration announced that Maryland Smart Buy Program, a nationally-recognized program that assists first-time homebuyers burdened with student debt. Relaunched as Maryland Smart Buy on August 6. Maryland Smart Buy 2.0 will allow participants to purchase any eligible home in the state, while eliminating up to $30,000 in student debt. Currently, Smart Buy requires buyers to purchase select homes designated by the Maryland Department of Housing and Community Development (DHCD). "We are proud that Maryland continues to be home to one of the most highly educated populations in America, but the harsh reality many face today is that earning a college education often goes hand-in-hand with crippling college debt," said Governor Larry Hogan. "This new $3 million expansion of Smart Buy will help young people buy a home, removing … [Read more...]
Purchase Assistance Programs in Prince George’s County
Purchase Assistance Programs in Prince George's County (PGCPAP) strategy is to provide home purchase assistance to eligible, first-time home buyers to purchase residential properties in Prince George's County. Home purchase assistance includes down payment, mortgage principal reduction and/or closing costs. Prince George's County Purchase Assistance Program is funded by the Housing Investment Trust Fund. The Redevelopment Authority of Prince George's County administered the program in partnership with participating lenders, realtors and housing counseling agencies that are approved by the U.S. Department of Housing and Urban Development (HUD). Loan Terms Maximum loan: $15,000.00 Purchase price limit: $462,000 (resale or new construction) Loan terms: 0% interest, deferred payment If the buyer is one of the following, they may be eligible for an additional $5,000 based on their need. This would bring the total loan amount to $20,000. Police Officer Deputy Sheriff … [Read more...]
Grant Assist Program Super Sized
Grant Assist Program supersized by the State of Maryland (mmp.maryland.gov). This change will help many, many buyers throughout the State of Maryland. Initially the program was rolled out to help with ONLY the closing costs but they have just changed it so that the 4% can be used towards down payment and/or closing costs. This is HUGE News, if you have a minimum 640 credit score you could have your entire down payment covered by using this program instead of the flat $5,000 the State offers through the CDA program. Example: A buyer wants to purchase a home for $300,000. The minimum the buyer has to contribute is 3% for the down payment. The Grant Assist will cover that ENTIRE down payment. The seller has agreed to give 3% for closing costs and the program will also cover another 1% towards closing costs for a total contribution of $12,000. And viola, the buyer is in with no money out of their pocket! Grant Assist * Grant Assist program is a grant of 4% of … [Read more...]
Maryland Mortgage Advantage Program
Maryland Mortgage Advantage Program - Good news coming from the State of Maryland - This new interest rate program just rolled out! The program provides buyers with a very low interest rate compared to traditional market rates. Buyers can use the program with FHA, VA, USDA and Conventional loans. Today's rate for VA, FHA and USDA loans is 4.125% with NO POINTS. The conventional rate is 4.625% with NO POINTS. Those rates are highly competitive and much lower than any rate a buyer will find in this market. The program can be used for every County in the entire State of Maryland. However, the program does not offer any type of down payment assistance with it. This program is great for buyers that have their own money for the down payment, but want a lower interest rate so their mortgage is more affordable. The program follows the MMP guidelines with credit scores of 640, a debt ratio of 45% and the buyer must be a first time home buyer unless they are buying in a targeted area … [Read more...]
State of Maryland Grant Assist Program
The State of Maryland Grant Assist Program is opening up to buyers that own homes now or have owned a home previously in the past 3 years. The program follows the Grant Assist guidelines exactly and the only requirement is that the sellers cannot own any real estate at closing. Yes, you are reading this right! Assistance for down payment and closing costs for people that own homes - NOW! The State of Maryland Grant Assist Program broadened the Grant Assist program two weeks ago. The program is available to FHA buyers with credit scores of 640 or more. Initially the program was rolled out to help with ONLY the closing costs. The state changed the program so that the 4% can be used towards down payment and/or closing costs. This is HUGE NEWS, if you have a minimum 640 credit score you could have your entire down payment covered by using this program instead of the flat $5,000 the State offers through the Community Development Act (CDA program). Example: A buyer wants … [Read more...]
Maryland Mortgage Prorgrams
Maryland Mortgage Program offers buyers down payment assistance throughout Maryland, Virginia and the District of Columbia. There is some confusion about this program though because there are different monies available underneath the umbrella of the Maryland Mortgage Program. One of our preferred lenders is providing details about the different programs so you can have a better understanding of what programs are available for buyers as it relates to the MMP program only. * SELP (Settlement Expense Loan Program) - This is the staple of the Maryland Mortgage Program and offers $5,000 to first time home buyers unless they are buying in a targeted area and then they can be second time home buyers. If a buyer is working for an employer on their House 4 Keys list they will be eligible for more down payment assistance. And, if they live within 10 miles of the house they are buying they are eligible for even more money through the Smart Keys program. All money received through this … [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...]
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8101 Sandy Spring Rd., Ste.#250-P