mortgages: What You Should Know about Acreage Limitations
- 01/13/10 05:38 AM
I live in an interesting part of Maryland. I'm 15 minutes from the the Susquehanna and 15 minutes from very rural areas. For a buyer purchasing a house with substantial land, his/her loan officer will need to sift through a few restrictions. This applies mostly Nationwide, not only in MD. And here they are.... Astoria: Max 10 acres Bank of America: Conforming Loan: No restrictions other than the property must be residential and meet all eligible property requirements. Non-Conforming Loan: Value based on lesser amount of acreage than the actual lot size in not acceptable. For properties less than 10 acres not designated as … (1 comments)
mortgages: Now Is the Time To Buy! - Buyer Down Payment Assistance Ending
- 08/26/08 07:06 AM
Dear Potential Buyers, Now is the time to buy at little or no cost to you! Nehemiah (a non profit org.) provides down payment assistance using sellers' money. This program ends Oct. 1, 2008. This program gives buyers the ability to buy a house with little or no money. This program has helped many buy homes! After Nehemiah is no longer available, FHA loans will be more demanding and require ~620 credit scores. Buyers will also need 2 3/4% down payment and 3 1/2 % cash. Mortgage Insurance Premiums, designed to protect banks, will be be based on risk. If you … (1 comments)
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I live in an interesting part of Maryland. I'm 15 minutes from the the Susquehanna and 15 minutes from very rural areas. For a buyer purchasing a house with substantial land, his/her loan officer will need to sift through a few restrictions. This applies mostly Nationwide, not only in MD.
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