buying your first home: When Will You Know When You Are Ready to Buy A House?
- 10/19/23 03:12 PM
When Will You Know When You Are Ready
to Buy A House?
You might be asking yourself "When will I know when I'm ready to buy a house?"
You've paid off all your debt, you have a full emergency fund of 3-6 months of your typical expenses and you've saved a strong down payment of at least 5 - 10%. But we recommend 20% you can afford the house payment - less than 25% of your take-home pay on a 15-year fixed rate mortgage.
Actually, stop listening to this kind of advice. You don't need this kind of negativity in your life, or this … (7 comments)
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buying your first home: How Can You Get Your Piece of the American Dream
- 09/07/23 08:49 AM
How Can You Get Your Piece of the American Dream
Quality real estate in the United States is becoming limited. Sadly, the American Dream of owning a home for many people is dying. Housing prices in many areas are becoming out of reach for many people and combining that with rising interest rates makes it challenging. We are getting into a situation in real estate where we are going to have haves and have-nots.
So, what are you going to do about this? If you don't own any real estate now, you have to figure out how you are going to get your … (2 comments)
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buying your first home: Will it be a Dorm, a Room or Your Own Home this Fall?
- 07/04/23 09:40 PM
Will it be a Dorm, a Room, or Your Own Home this Fall?
Are you going off to college this fall? You and your parents have been saving for years for this time. You are getting grants and student loans and your tuition is paid. Do you stay in a dorm, rent a room off campus, or… do you buy a small home, townhome, or multi-unit property and rent the other rooms out?
If you have good credit and reserves and buy your first home for as little as a 3% downpayment you may be able to utilize up to 75% of the … (6 comments)
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buying your first home: If I Could Go Back in Time
- 07/03/23 08:11 PM
If I Could Go Back in Time
If I could go back in time this would be the first investment I would make. I would buy a multi-unit property of 2 to 4 units and use a FHA loan so I would only have to put 3.5% down. This would not only allow me to own my first home but also my first rental property. Then eventually (after 2 years or more) I would move out of the unit and buy another home. To me, this is a no-brainer in the history of real estate.
This is exactly what I did. In 2002 … (4 comments)
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buying your first home: How to Get Your Downpayment
- 06/18/23 03:03 PM
How to Get Your Downpayment
If you are having a tough time saving to buy your first home, there are several ways to do that. You can never be too young to start too!!
Ask a friend or family member to help. Show them this is a sound decision and that most lenders are okay with gifts from friends and family. Look into borrowing from your IRA or 401K. If you are buying a home, you can often take a one-time loan as a downpayment. Start a savings account and put aside 20% of your pay. There are a few online banks … (2 comments)
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buying your first home: Buying into Baltimore Trolley Tour - 5/13/2023
- 05/06/23 08:31 PM
Buying into Baltimore Trolley Tour - 5/13/2023
Baltimore is one of the last vestiges of affordable housing in Central Maryland and Baltimore City has many opportunities for new home buyers to purchase their first home. The more people who move back into the city the broader the tax base becomes, the more stabilized the economy and the infrastructure will also become more stabilized.
On May 13, 2023, Live Baltimore is hosting another Trolley Tour and opportunities for participants to become more familiar with how great Baltimore is and all the great amenities it has to offer. In conjunction with the Trolley Tour participants … (3 comments)
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buying your first home: First-Time Homebuyer Myths
- 04/08/23 08:08 AM
First Time Homebuyer Myths
I often get ideas for blogs from situations that present themselves or from something someone else has written or newsletters I get in my email. In this case it is two of these!!
So many first-time home buyers think they need to put 20% of the purchase as the down payment. But, in fact, depending on the type of loan they qualify that is simply not the case. FHA loans are popular and only require 3.5% downpayment, there are some conventional loans that are as low as 3%, if you are a Veteran, you may be able to qualify … (4 comments)
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buying your first home: A Journey Starts with One Step
- 01/17/23 12:29 PM
A Journey Starts with One Step
I am often inspired by things around me, quotes I see, conversations I have, and something I experienced.
I saw this quote on Facebook this afternoon and it reminded me of a young man that I helped purchase his first home. I met him in a homebuyer education class that I co-presented. No one in his family had ever owned a home before. He was a young African American man raising his son by himself and he didn't make a lot of money but he knew he wanted a better life for his 3-year-old son. He could … (13 comments)
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buying your first home: Qualify for $5000 Towards Your Home Purchase
- 09/20/22 08:34 PM
Qualify for $5000 Towards Your Home Purchase
Live Baltimore's Fall 2022 Trolley Tour is almost here!! On October 1 you will have a chance to apply for $5000 in down payment and closing cost assistance. To qualify, you will have to attend the Trolley Tour event on October 1 at The University of Maryland, Baltimore from 8:30 am to 1 pm. You'll have the opportunity to tour neighborhoods in Southwest Baltimore City (Sowebo) and learn everything there is to know about the home-buying process. Up to 20 attendees will be chosen to receive a $5000 grant. Register for the Fall 2022 Trolley … (3 comments)
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buying your first home: Just Sold - 320 Allendale St, Baltimore, MD 21229
- 08/21/22 07:13 PM
Just Sold - 320 Allendale St, Baltimore, MD 21229
My buyers got a great home, we negotiated a great price and great terms that worked with their loan type, and with the help of Chase Cusack from First Home Mortgage, we found $15,000 in grant money for the buyer's downpayment and closing costs so they were able to purchase this home with only $1000 of their own money invested. Then, #TheTitleLady helped bring it all together to closing.
This 3 bedroom 1.5 bathroom home had a beautifully updated kitchen with granite counters, LVT flooring, fenced rear yard with off-street parking for 2 cars. … (7 comments)
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buying your first home: Buying Your First Home in Baltimore
- 05/29/22 11:19 AM
Buying Your First Home in Baltimore
I have a conversation with my son's girlfriend the other evening. They have been talking about moving in together. She currently pays about $1600 per month in rent. Both have good credit but they are cash poor and live paycheck to paycheck. I have been talking to my son about buying a home rather than paying rent. She expressed concern about where they would come up with their down payment.
First off you don't need to have 20% of the purchase price as a down payment.
We currently live in Catonsville right on the border of Baltimore County … (2 comments)
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buying your first home: Open Houses - Things to Consider
- 05/06/22 07:46 AM
Open Houses - Things to Consider
So, you've decided to buy a home and you figure a good place to start is by going to a few Open Houses.
It's easy to get caught up in the shiny newness of the home, the color scheme, the new appliances, and the decor but all these things are cosmetics, as a buyer you need to look beyond these and consider other things:
1. The floor plan - how are you going to use your home, do you entertain a lot, do you like to cook for others, and do your guests congregate around the kitchen while … (3 comments)
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buying your first home: Energy Savings Days - BGE Peak Day - July 17, 2019
- 07/16/19 01:25 PM
Energy Savings Days - BGE Peak Day - July 17, 2019
Do you have a BGE Peak Rewards thermostat? Tomorrow, July 17 is one of their energy savings days. From 1pm to 7 pm they are encouraging users to conserve energy usage during this time.
Here are a few tips on how you can save even more:
turn off all the lights in your house - in mine the outside light tends to get left on and so does the light on the range hood over my stove. Unplug things not in use - for example television, dvd player, laptops, printers and such. … (3 comments)
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buying your first home: Getting Help To Buy Your First Home in Baltimore
- 06/13/19 09:07 PM
Getting Help to Buy Your First Home in Baltimore
For many families in Baltimore buying a home may seem like a pipe dream. The high cost of renting, lower incomes, family responsibilities, student loan repayments all seem to get in the way of achieving your dream.
Did you know there are many grant and down payment assistance programs available to help you with the down payment?
I got a contract accepted yesterday on a nice home in the Hampden area priced at $190,000. My buyer's monthly mortgage payment is going to be in the region of $1,000 a month. He could qualify for a number … (0 comments)
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buying your first home: Free Home Buyer Seminar
- 01/02/19 12:14 PM
Free Home Buyer Seminar
Is your lease coming up for renewal?
Are you thinking about buying a house, but don't know where to start?
Do you think you haven't got enough money saved for your down payment?
How would you know if you couldn't afford to buy a home?
Remax New Beginnings and the Maryland Real Estate Academy are proud to offer a FREE home buyer seminar on January 19, 2019 from 10 am to 2 pm.
At this seminar you'll learn:
Programs for Veterans Programs for low to moderate income families Programs for little to no money down Own for less than rent Home sellers … (0 comments)
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buying your first home: Help is Available to Get You Into a New Home
- 09/28/18 08:50 AM
Help is Available to Get You Into a New Home
There are still some great programs from the State of Maryland to help you get into a new home.
The Maryland Mortgage Program (MMP) has 3 popular scenarios to help with rate reductions, and down payment assistance or grants.
The Advantage 1 Rate Assist program does not offer any down payment assistance but does help with reduced interest rates.
Advantage 2 Loan Assist offers a 3% no interest loan that has to be repaid when the home owner refinances or sells the home. This is one of the most popular programs.
And, Advantage 3 Grant Assist is a 4% … (1 comments)
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buying your first home: First Time Home Buyer Class
- 03/01/17 08:52 AM
First Time Home Buyer Class
The Maryland Real Estate Academy and Remax New Beginnings is pleased to offer a home buyer seminar.
Be Part of the American Dream
Learn about programs for low to middle income buyers Programs for credit scores as low as 580 Programs for little or no money down Realtors and Lender available to get you preapproved Own for LE$$ than Rent March 23 - 6-8 pm
Call
The Maryland Real Estate Academy
410-501-3960
Space is limited reserve your space today
1424 Sulphur Spring Rd., Baltimore, MD 21227
… (5 comments)
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buying your first home: Just Sold - Short Sale in Windsor Mill
- 08/30/16 03:26 PM
Just Sold - Short Sale in Windsor Mill
With the help of Lewis Hibbs from Annie Mac Home Mortgage and Lakeside Title we successfully navigated a complicated short sale and my buyer successfully purchased the home of her dreams.
Are you considering purchasing a home? It's really important for you to have the right team that will guide you through the process from getting pre approved, to finding just the right home, the home inspection process and through to closing.
Purchasing a short sale can be complicated and can require you to wait and be patient while the seller's bank decides whether or not … (3 comments)
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buying your first home: Virtually No Money Down - Another Happy Homeowner
- 05/22/14 01:24 PM
Virtually No Money Down - Another Happy Homeowner
Today marked the first day of home ownership for a special young man.
Anthony attended a Home Ownership Counselling class at Belair Edison Neighborhoods one day and that sparked some interest for him. From time to time I co-host with a lender and housing cousellor.
These classes are held on the second Saturday of the month. Participants must register to ensure they get a seat. They last from 10am until 3pm and are followed by a one on one session with a housing counsellor. Other agencies offer similar classes so if … (3 comments)
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When Will You Know When You Are Ready 
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