Helping Military Veterans and Active Duty Military buy a home has gotten a bit easier. Now, CDA offers the Maryland Home front program which provides military veterans and active duty military with a special interest rate discount of 0.25% for a 30-year, fixed rate mortgage. This program can also be used in combination with the $5,000 plus or more down payment and closing cost monies that are offered through the program. A refresher course on CDA loans...if you have not owned a home in the past three years in the State of Maryland - there is an EXCELLENT chance that you will be eligible for down payment monies and/or closing cost help of $5,000 at a MINIMUM. And even if you have owned a home in the past three years there are targeted areas where you can buy again without the 3 year wait. For example - the entire City of Baltimore is classified as targeted so anyone can get $5,000 CDA down payment monies and or closing cost help as long as they don't own any other … [Read more...]
Home Buyers Assistance – State of Maryland
Home Buyers Assistance - State of Maryland have a great program to help home buyers obtain home ownership. And now, first time home buyers can get a tax credit too! If you have not owned a home in the past three years in the State of Maryland, there is an EXCELLENT chance you will be eligible for assistance of $5,000 at a MINIMUM. And, even if you have owned a home in the past three years, there are targeted areas where you can buy again without the 3 year wait. For example, the entire City of Baltimore is classified as targeted so any buyer can get $5,000 in assistance as long as they don't own any other property when they go to settlement. The Maryland Mortgage Program offers $5,000 in assistance or potentially more depending on the buyer's employer for down payment or closing cost assistance. So, if a buyer is purchasing a $200,000 home and they need 3.5% of the purchase price ($7,000) as a downpayment, this program will give them $5,000. If they then receive a full seller … [Read more...]
Veteran Buyers
Veteran buyers and active-duty service members are in the driver’s seat when it comes to purchasing a home. Besides, what seller would not enjoy the experience of helping a veteran buyer purchase a home? Veteran buyers have everything working on their behalf when it comes times to purchase a home. Check out these following points: • VA loans requires no money down • The seller can pay any or all of the buyer’s closing costs • Most lenders can help pay some of the veteran’s closing costs with just a small increase in the interest rate • A veteran can get all of their needed cash as a gift • A veteran can even borrow the money that they need for closing, as long as they qualify carrying that loan payment. • A veteran does not need a first-time home buyer program…so a VA loan can be approved and closed in 30 days • A veteran does not pay any monthly mortgage insurance Veteran buyers are the sought after buyer out there because a VA mortgage is the easiest type of mortgage to process…and … [Read more...]