Home Buying in Essex>Question Details

knykiel, Home Buyer in Essex, MD

I am a first time home buyer, single, have only 3% down, looking to purchase a home in MD. What options for loans, incentives, grants, do I have?

Asked by knykiel, Essex, MD Fri Aug 24, 2012

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Hi Knykiel,

Many counties offer special programs so you'll want to speak with a good local lender. With just a tad more downpayment you will be all set for an FHA loan. But your income range, credit, area of purchase etc will all affect your options. I'd recommend Pete O'Donnell at (410) 299-2043 as a reliable local lender who can give you good guidance.
1 vote Thank Flag Link Fri Aug 24, 2012
Your pre-qualification is dependent upon your income, credit scores, and debt to income ratios. Since you are a First Time Buyer you may qualify for a $5,000 grant that can assist with your down payment and closing costs. I have had many buyers utilize these grant funds to their advantage and get into their first home with next to no money down. For more information and expert advice, shoot me an email or give me a call.
1 vote Thank Flag Link Fri Aug 24, 2012
Good afternoon knykiel,

Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.

Local Mortgage Bankers are your best resource for mortgage financing. The Loan Officers are Licensed. the Mortgage Bankers are Direct Lenders and, since this is their only business, will provide a higher level of quality service and pricing than any Big Bank could ever hope to provide.

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528
0 votes Thank Flag Link Sat Aug 25, 2012
Hi Knykeil,

Programs vary by city and county and there are some Maryland programs that may assist you but it will depend on your income, the area you are purchasing and other factors. I'd recommend contacting a lender that is familiar with your area for a full list of recommendations.
0 votes Thank Flag Link Sat Aug 25, 2012
There are many programs available for qualified buyers in the state of Maryland.

CDA offer up to $5,000 towards down payment and closing costs. I would be happy to assist you as your agent with all the available loan programs and locate a property suitable. Give me a call at (703) 474-1754 or email me at reshawnaleaven@gmail.com
0 votes Thank Flag Link Sat Aug 25, 2012
Hi! There are many options available to you. Deciding which one/ones will work uniquely for you will depend on your income, credit history, the area you want to live, the prurchase price of your home. I love working with first time homebuyers and would be happy to assist you. I have good working relationships with with a few lenders who specialize in finding the best programs for first time buyers. Give me a call (443-384-4000) or email (jodyseibertrealtor@gmail.com) and we can get started!
0 votes Thank Flag Link Fri Aug 24, 2012
Are you looking in the Essex area? If you are not currently working with a REALTOR, I can help you get Pre-Approved with one of our selected Lenders as we have several listings in your area to choose from.
0 votes Thank Flag Link Fri Aug 24, 2012
Feel free to give me a call @ 443-417-6493. I have many good lenders that I work closely with who can help you with the process. You also need a good agent to help you through the process and I can help you with that too!
0 votes Thank Flag Link Fri Aug 24, 2012
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