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Home Buying in Hagerstown : Real Estate Advice

  • All73
  • Local Info7
  • Home Buying20
  • Home Selling5
  • Market Conditions5

Activity 32
Thu Mar 16, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage professional.

Yes, there are programs that require as little 3% down payment, you can even roll some closing costs into the loan.

If you would like help with this or have any questions you are welcome to get in touch with me. ... more
0 votes 1 answer Share Flag
Tue Dec 1, 2015
George Makrides answered:
Mortgages are based on the lower of the sale price or appraised value. The asking price has nothing to do with the mortgage.
You can offer more than the asking price, as long as the property will appraise. Build in Seller Contribution to be applied to your closing cost. On FHA and USDA loans you can get up to 6% of the sales price applied towards your closing cost. In most instances, you can get in for little or no money. These are legitimate mortgage programs , designed for low to moderate income families.
Add 4% to the Asking price and ask for 6% Seller Contribution. Be careful not to ask for too much, because you can only apply real cost , don't leave money on the table. A good Lender can calculate how much money you will need to get from the Seller. gmakrides@ihmcloans.com
... more
0 votes 8 answers Share Flag
Wed Aug 5, 2015
USMortgageRanger answered:
Hi Crystal,

This will not stop you from obtaining a mortgage. Is this loss in both years and is it a one time loss? We will average the income over 2 years. I would be delighted to provide you with some mortgage options, (this does not require us pulling your credit) that will allow you to make the best decision for your family. I can be contacted via my profile information for a no obligation consultation. My Office hours are 08:00 AM-08:00 PM Mon-Fri and Fri and Sat 08:00 AM-06:00 PM CST.

Lowell Sterling
Mortgage Banker
NMLS 968898
Capital One Bank
Phone (469) 315-1709
... more
1 vote 1 answer Share Flag
Mon Mar 2, 2015
Madelyn Periard answered:
How much is lot rent? Could this be a no money down? I have fallen in love, but have no money. How much is closing cost?
0 votes 2 answers Share Flag
Tue Feb 10, 2015
Barbara Stellway answered:
Lenders usually ask for the well test results based on the tests the buyer asked for in the contract. In my experience, once the well test results are produced and are within the potability ranges for that specific test, I do not see how or why a lender would decline a loan on the basis of the water test. If you send the lender a bad test, that is a mistake. The seller has to correct a bad water test with appropriate treatment, depending on what the problem is, and produce a clear re-test. Once problems with the well have been corrected, the tests should then be sent to the lender. ... more
0 votes 2 answers Share Flag
Thu Sep 4, 2014
Lizdmed asked:
Both we and our tenant are cash-poor, so we would like to do this without much financial outlay in advance. Our tenant will need a mortgage, but has decent credit and a steady job, but a…
0 votes 0 Answers Share Flag
Wed Dec 18, 2013
Jeanine McVicker answered:
One of the GREAT things about living in the Hagerstown City Limits right now are the programs available to home buyers through the Hagerstown Home Store. Not only do they offer you education, but they also offer grants, sometimes up to $11,000 to put toward down payment or closing costs. These programs are very helpful for first time homebuyers! ... more
1 vote 7 answers Share Flag
Tue Sep 24, 2013
Annette Lawrence answered:
Cynthia,

Be aware, real estate professionals are in NO WAY responsible for data that appears on Trulia, Zillow or the hundreds of other aggregate real estate websites.
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Truila states the real estate information they display comes from Listhub, NOT the MLS as some agents believe. Listhub and Trulia reserve the right to delete, replace, subsituate, supress, change or misrepresent informatin as it suits their purposes. THE AGENT IS NOT RESPONSIBLE!
-
The following link is to a report from the WavGroup. Note the accuracy data reported for Trulia.

http://waves.wavgroup.com/2012/10/03/real-estate-website-accuracy/

If you are serious about buying a home, you need to promote yourself to serious tools. Reliable, accurate, timely, compehensive, responsible data resides on the Multiple Listing Service. Every REALTOR (r) in Hagerstown, MD wouild be happy to provide you FREE access.

Annette Lawrence
Remax Realtec Group
4175 Woodlands Pkwy
Palm Harbor, FL 34685

RealEstateMadeEZ.us
... more
0 votes 7 answers Share Flag
Fri Sep 13, 2013
Greg Myers answered:
Jeff,

This question is a little dated so I am not sure if you proceeded forward with your purchase. Your sales contract would have to contain the language " purchase subject to the existing lease"".

Some lenders may have a underwriting issue with a existing lease or tenant occupancy beyond 90 days. Here's WHY. Your home purchase is an "Öwner Occupant" using lending guidelines as an owner occupant. What if you renewed the tenant's lease and never moved in..now your an investor.

Check with your lender for specifics or delay the settlement date to with-in 90 days of the end term of the lease.

Greg Myers
RE/MAX Realty Grouup
... more
0 votes 4 answers Share Flag
Fri Sep 13, 2013
Greg Myers answered:
Leeann,

Do you want to be west of Frederick or east of Frederick accessing Frederick from the route 70?? There are many choices for you depending on your wants and needs. Could you be more specific.

Greg Myers
RE/MAX Realty Group
... more
1 vote 4 answers Share Flag
Sat Mar 23, 2013
James Deskins answered:
>>>>1. If a seller / listing agent pays the commission, why would a buyer representation agreement state the buyer is paying the buyer agent? Seems odd to me.

Because what happens if you work tirelessly for a buyer and find a home that the seller/listing agent refuse to pay the commission (for whatever reason....discounted, FISBO, etc.). Then the agent still gets paid. It is an indirect way of saying that the buyer is ultimately responsible for the buyer's agents fee. It's a protection for the buyer agent. ... more
0 votes 10 answers Share Flag
Sat Dec 8, 2012
Shannon French answered:
Hi Latrdaz1,

We specialize in rent-to-own/lease with an option to buy transactions in Maryland, and have been doing them for almost 9 years with much success.

Please visit our website at www.BuyBaltimoreProperties.com/faq to see many frequently asked questions or email us at info@BuyBaltimoreProperties.com with any questions that you may have. ... more
0 votes 4 answers Share Flag
Fri Sep 21, 2012
Kari Shank answered:
Hi Paul-If you would like to keep you current home I would suggest looking into any modification options that may be available through your mortgage company. If you don't plan on keeping home or if the modification options do not work out for you I think that a short sale may be best for your situation. You want to make sure that you find an agent that is very experienced in short sales and one that will guide you through the entire process-this will be very important to make this process as easy as possible and also give you the best chance for a successful short sale. If you have any further questions on your options please let me know! Best of luck to you! ... more
0 votes 7 answers Share Flag
Tue Jul 24, 2012
The Roskelly Team answered:
Based on the small amount of information provided I would say yes. An entire additional level of living for only $8,000 seems very reasonable.
0 votes 5 answers Share Flag
Mon Jan 30, 2012
Jimmy Alignay answered:
It depends what you are looking to cover... Different warranty's have different degrees for coverage. For example, one company will only cover one appliance for one kitchen. You maynot have coverage if you have a basement with an in-law/renter's kitchen or dual ovens, dishwasher, etc. Take a look at the following link see the different companies, compare your needs. ... more
1 vote 1 answer Share Flag
Tue Nov 29, 2011
John Potter & Sharon Bremer-Potter answered:
Sounds like you could use an agent to help you with this!! I am licensed in Md and Pa and could help you with the sale and purchase of a new home. Please give me a call, I would love to work with you!
Sharon Bremer 301-676-4031
... more
0 votes 5 answers Share Flag
Wed Jan 26, 2011
John Potter answered:
I hope your contract is expired ! Our Team policy is to never tie up our BUYERS for more than 60
days in a Short Sale purchase. And for this exact reason. Your Agent should have interviewed the listing agent and re-viewed documents and received the warm and fuzzy as to the complete details
surrounding this Short Sale, BEFORE having you sign.

Best move for you is to move on, sign the release and keep looking. No sense wasting anymore of your time "Forcing" the issue of whatever happened. You may miss the home meant for you.

Get a better plan of action from your agent, and If you don't think your agent has a plan, move on
from the agent to a more experienced agent in BUYING Short Sales.

Good luck !!
... more
0 votes 31 answers Share Flag
Wed Nov 17, 2010
Dean L. Martin answered:
May want to get seller financing or lease to purchase.
0 votes 6 answers Share Flag
Mon Aug 23, 2010
Mary Matthews answered:
Contact a Realtor who will work for you as a buyer's agent. The Realtor can do a market analysis on the property for you . That particular property is unique. At one time that was a wonderful home with lots of interesting features. Over the years a lot of those features have been destroyed. ... more
0 votes 4 answers Share Flag
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