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Archive for First-Time Home Buyers
Short Sales: When is Offer ‘Accepted’?
There has been some confusion about when a short sale offer is “accepted.” A short sale is a sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. The owner will request that the lender (third party) agree to take less and forgive the rest of what [...]
Who is a First-Time Home Buyer?
“First-time home buyer” is defined by the Cranston-Gonzalez National Affordable Housing Act of 1990. The code specifies:
The term “first-time home buyer” means an individual and his or her spouse who have not owned a home during the 3- year period prior to purchase of a home with assistance under subchapter II of this chapter, except [...]
Federal Home Loan Bank of Atlanta Funds are Available up to $10,000 for First-Time Home Buyers!
The Federal Home Loan Bank of Atlanta funds are available with some participating lenders. Member Banks can access up to $1 million annually and distribute matching FHP awards up to $10,000 per household to eligible home buyers. The program is a 5 to 1 match. If a buyer puts $2,000 of their own funds in [...]
Long-Term Mortgage Rates Hit Record Low!
The Washington Business journal reported that the 30-year fixed-rate mortgage rate has dropped to its lowest level on record. The average rate is the lowest in McLean-based Freddie Mac’s weekly survey dating to 1971. Freddie Mac says its Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage averaged 4.85 percent with an average 0.7 point [...]
Now is the Time to Buy a House!
Now is a great time for first-time home buyers to buy a house! I have helped several first-time home buyers in the last 30 days become homeowners and receive fantastic deals on their properties. Unfortunately, many first-time buyers are still sitting on the fence. The opportunities that are available will not last forever. Interest rates [...]
Free Home Buyer Workshop with Harbel Housing Partnership!
I will be presenting this evening for Harbel Housing Partnership from 6-9pm at the White Marsh Library 8133 Sanpiper Cir. 21236. Harbel is a nonprofit organization that specialize in homeownership education for first-time home buyers. They conduct numerous workshops throughout the year. I have been working with Harbel for 5 years. If you would like [...]
Baltimore County Neighborhood Stabilization Program “NSP” $50,000 Loan for Home Buyers
Baltimore County is starting a program to encourage home buyers to consider homeownership in existing residential communities that have foreclosed properties in the 21207, 21220, 21221, 21234, 21244, 21133, and 21117 zip codes. Before signing a real estate contract, a buyer must complete TWO workshops (home buyer and pre-settlement) and counseling with a Baltimore County affiliated [...]
Check Out These Statistics From The National Association of REALTORS!
The National Association of REALTORS does a study every year on people who bought or sold real estate.
Characteristics of home buyers
41% of recent home buyers were first-time buyers.
The typical first-time home buyer was 30 years old, while the typical repeat buyer was 47.
The 2007 median household income of buyers was $74,900. The median income was [...]
The 7 Things You Must Know to Successfully Receive Grant Money!
I am asked all the time “how do you become eligible to receive grant money.” Applying for grant money is a process that must be followed correctly or a buyer could be made ineligible to receive grand funds. I have created a free report “The 7 Things You Must Know to Successfully Receive Grant Money” [...]
Happy New Year!!!
I believe 2009, will be a fantastic year for buyers. Interest rates will remain low, housing inventory is high, prices have fallen, and sellers will contribute towards buyers closing costs. What more can a buyer ask for? Grant programs are available for Baltimore City and Baltimore County first-time home buyers, call or email me for [...]
