I would advise getting the financing squared away and then find a good local Realtor. I can also give you some names of key Realtors if you like.
Client references are available upon request. I hope this was helpful and I look forward to talking soon.
Senior Loan Officer
1st Mariner Mortgage
There are a few programs available to first time home buyers. I would welcome the opportunity to discuss the details. I live in Upper Marlboro and could also assist you with finding the right home as well.
Congrats on your decision to purchase a home!
Bridgette "Kyria" Chase
Exit Bennett Realty
301.974.7110 | mobile
Yes, however in most transactions, the closing costs are negotiated and paid by the seller. The remaining cost to purchase then becomes the down payment. There is a program in Maryland that provides $5,000 from the state toward a purchasers down payment. There are some restrictions such as household income limit, credit scores that apply. You also cannot have owned a home in the past 3 years. You may contact us so that we can provide you with a lender to speak with to review your situation further if you like.
All the Best,
Liz and Cecil Jackson
Jackson Premier Properties, Inc.
There are a few options for closing cost assistance. If you are purchasing with FHA financing you can ask for as much as 6% of the loan amount in concessions. These concessions can come from the lender or seller. Below is an example to give you a clear understanding.
Purchase Price is $100,000.00
FHA Down Payment (3.5%) $ 3,500.00
Loan Amount $ 96,500.00
Total amount of concessions allowed $ 5,790.00 = 6% of the loan amount.
In most cases closing costs tend to be about 6% of the loan amount. However this will differ from state to state and lender to lender.
You can also in some cases get down payment assistance. This can from a multitude of sources; community programs such as your local board of realtors may offer some assistance, a gift and other sources. These will depend upon the organization and your community you live in.
If you have any questions please feel free to call me anytime.
Chris J. Lewis, CDPE
Atlantic Winds Realty, Inc.
881 NE Prima Vista Blvd.
Port St. Lucie, FL 34952
Office: 800.732.4707 ext. 201
On the web at: http://www.AtlanticWindsRealty.com and http://www.TCBankOwned.com
Best place to start is to hire an Exclusive Buyer Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. Visit http://www.naeba.org for a referral to an Exclusive Buyer's Agent in your area.
I've had a book published on Amazon called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll be the best $6 you've ever spent. Follow the link below.
Best of luck!
You have many options regarding closing cost assistance.
Very often the HOME SELLER can provide that assistance. Reality is, most 'LENDER' assistance plans actually take the money from the seller also..
You really need to consult your real estate professional and create the pruchase strategy that will make your purchase offer solid. If you are a marginal buyer, YOUR lender WILL throw obstacles in the pathway to success. The home owner (seller) know this and will not look faborably on your offer.
Your agent willl advise you regarding the best way to structure your offer.
The agent representing the seller will protect them from the consequenses the seller will inherit IF an offer from a weak buyer is accepted. I'm serious, the seller can suffer severely because of a weak buyer, the lender they choose and the mortgage plan. That is why you MUST think about creating a solid. less risk offer.
Don't defy reality. If you are shopping above or at the 'tippy-top' of what you can afford, you need to reassess your strategy.