In Real Estate everyone talks about the Spring being the best time to put your home on the market. In Maryland, many agents have been saying that the Spring Market started in January! Things have been BUSY!! Now that we are closer to the actual Springtime, new listing signs are popping up along with the flowers! There are lots of reasons for spring being a great time to buy or sell. Here's just a few reasons:
1. Warm weather and longer daylight-better for touring homes.
2. Families with kids in school would be looking to buy and/or sell with the thought that … (1 comments)
buying a home in maryland: Not All Lenders Are Alike
- 05/07/16 06:42 AM
I have been in the mortgage business for over 15 years. My favorite part of this business is the connections that I get to make with my awesome clients and realtor partners. Like you, I have heard HORROR stories of inefficiency, lack of communication and outright lies from folks in the business and consumers. Much of that has gone away over the years with licensing and regulations, but still, not all lenders are alike. Some lenders will "take your order"- "OH, you want a 10 year loan, here is your rate, would you like fries with that." These types of lenders … (3 comments)
It may make sense to use an FHA loan when you buy a home, it really depends on your situation and your goals. What is FHA? Federal Housing Administration (FHA) Administered by the U.S. Department of Housing and Urban Development (HUD), the Federal Housing Administration was formed in 1934 to help consumers with homeownership. The FHA is not a mortgage lender. It's a mortgage insurer. And, like other insurers, the FHA collects regular payments known as mortgage insurance premiums which fund the claims it pays to lenders. (NEW Guidelines 4000.1 Effective 9/14/2015) There were 66 changes … (2 comments)
"I want to buy a home, what do I do first?" When you are first considering a purchase it will be helpful to begin preparing a budget and know your area of interest. Then contact a lender. Most of us don't bite. We aren't going to judge you, we really are hear to help! The sooner you get started on the preapproval process, the sooner you will know what steps to take before you "must" be mortgage ready. Some folks are surprised to find … (6 comments)
Every day I talk to folks interested in getting information about purchasing a home or refinancing homes in Maryland. Many of them are frustrated because they are not getting called back, they have been given misinformation, or they have been treated poorly. Most of them have questions, some have more than others. They want to know about the process, the rules, what paperwork is needed, how much they can qualify for, how much they can save each month.
Many lenders only want to know three things... Do you have a … (23 comments)
There are times when someone contacts me regarding buying a home in Maryland, we find that they are not quite ready to move forward. Sometimes it's credit issues, sometimes they haven't saved enough for a down payment. I do my best to educate folks on their options and give them the steps they must take to be mortgage ready. Sometimes when I check in, the folks are in the same place they were when we spoke originally. We remind them of the goals we set and promises are made, too many empty promises. Those … (1 comments)
buying a home in maryland: Don't Assume, It makes A You Know What Out of U and Me
- 10/18/11 01:48 AM
Don't Assume, It makes A You Know What Out of U and Me Do you think that when someone engages you in conversation that they know all of their options and have made up their mind? My father always said, "Don't assume, it makes an ass out of you and me." I have found this to be so true in recent conversations with two clients, one a buyer, the other looking to refinance. THE BUYER The first was sure that she wanted to buy a home in Prince Georges County, and she wanted to buy it RIGHT NOW! She was READY, … (0 comments)
When looking at a mortgage applicant, lenders look for two things:
1. The ability to repay 2. The willingness to repay You have the ability to repay. You have a good income, you have even saved money for the down payment and closing costs. Unfortunately, your recent history is still not showing the willingness to repay. I realize that you have recently paid many of these items in full. Unfortunately, even paid in full collections affect your credit scores.
… (32 comments)
buying a home in maryland: How are Credit Scores Determined?
- 05/01/11 06:49 AM
How are credit scores determined? Credit scores have a huge impact on your ability to finance a home for purchase or refinance. Many consumers don't understand even the most basic rules of determination of their credit score. Understanding credit, in my opinion, should be required of high school and college graduation. What is credit? According to Merriam-Webster.com credit is: the provision of money, goods, or services with the expectation of future payment <long-term credit>; also : money, goods, or services so provided <exhausted their credit> There are three credit bureaus: Transunion, Equifax and Experian. The credit bureaus are not government agencies as some think, they are in business … (2 comments)
SPRING HAS SPRUNG! 
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