SUCCESS STORY IN MONTGOMERY COUNTY, MARYLAND
Earlier today, we received a call from a first time buyer asking about a foreclosure property near the home of his sister. He thought it would be nice to be in that area near family. We suggested that he should try to purchase and have a settlement before the end of November to take advantage of the currently available federal tax credit in the amount of $8,000.
He confided that he did not think he would be able to save the 3.5% FHA minimum cash requirement in time to take advantage of the tax credit. Further conversation revealed that he could qualify for cash area cash assistance from the Montgomery County Housing Opportunities Commission. We referred him to a loan officer that can make it happen for him. He is engaged to be married and really wants to have a home of their own. Buyers should always check on local programs that are available to assist with mortgage financing.
Prospective home buyers should seek out professional real estate advisors that have the ability to assist them with a home purchase. The $8,000 tax credit is a BIG deal for many young home buyers.
Buyers love the information provided in Localisms. Every residential real estate transaction is a local event and is impacted by what is going on in the community.
We represent buyer clients as their exclusive agents. Many home buyers are finding bargain opportunities in the inventory of lender owned foreclosures. The homes that need some work can be financed with FHA Streamlined 203(k) mortgages that can include up to $35,000 in home improvements in the loan amount. All buyers need to be pre-approved for financing before submitting an offer. firstname.lastname@example.org