Ok, last time I discussed the Neighborhood Stabilization Program's (NSP) Down Payment On Your Dream.  As you recall the NSP could give a buyer of a foreclosure in Prince Georges County Maryland up to $20,000 towards the purchase of a home.

In Anne Arundel Country Maryland, there is the Mortgage Assistance Program.  This program also offer's qualified Maryland home buyers up to $40,000 in a zero interest loan!

Programs like this will not be around forever.  Now is the best time to buy Maryland real estate.

Lets say you buy a home in Prince Georges County Maryland for $250,000.  If you put the minimum down, your monthly payment, all things included, is around $1800 a month.

At this price point you may qualify for about $17,500 from the NSP program.  The seller pays your closing cost so you get into the house for about $2000 total.

So now, you the buyer are up $15,500 and you just moved in to your new home.

Now at the end of the year, you get an $8000 tax credit.  Add that to your $15,500 and now you are up $23,500!

But wait, there's more.  Don't forget the tax deduction on your mortgage payment.  For arguments sake it is $3000.

So now you have made a total of $26,500 in the first year of home ownership.

Lets subtract out the $1800 a month you paid for your mortgage. That number is $21,600.

Simple math:  $26,500 - $21,600 = $4900.

Basically, the government paid your entire first years mortgage and gave you a $4900 bonus!

Now is a great time to buy Laurel Md real estate!