I am ready to buy a home in Brewer's Hill, Washington Village, West or Montgomery Federal Hill. Where can i go for help on starting the process?

Asked by Monica Wooden, Baltimore, MD Wed Feb 17, 2010

I am 24 years old, a Federal DoD Employee with goodcredit. I'd like to buy a home by April to take adv of the new tax credit (with the help of grants to subsidize my downpayment & closing costs) Where can i go for help on starting the process as a 1st time homebuyer?

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Patrick Thies, Agent, Anytown, IL
Wed Feb 17, 2010
Start with talking to a lender to get pre approved and to see exactly what you can afford to purchase. Once you have been approved and know how much you can afford, find a buyers agent that can provide you with homes that meet your criterial. Interview a few agents and find one that you are comfortable with.

Since you are under the gun to get under contract by April 30th, working with an agent will help you weed out options that may not be available any longer such as things that you may have found on the internet. Also, if the agent is familiar with the area and has worked with other agents in the area, the process may go a little smoother than trying to do it on your own. Good Luck
1 vote
Patti Shawgo…, , Baltimore, MD
Fri Mar 12, 2010
Hi, Monica! I am the local grant expert, I work for an area bank, not a broker and 95% of what I do is first time buyer purchases. The Federal Home Loan Bank grant, which is only offered by a few local banks in Maryland is getting funds in the beginning of April. If you income qualify you can get up to $7500 (this is in addition to the $8000 tax credit) of forgivable funds to go towards your required down payment and closing costs. In addition, there are a couple programs in the city that currently have funds. You do want to act fast though as the deadline is looming for the first time buyer federal tax credit.

I'm including a link below to some information about the Federal Home Loan Bank grant.
0 votes
Paul Swanson, , Maryland
Thu Mar 11, 2010
Hi Monica,

This response is a bit late, but I would like to offer you an estimate with regards to the mortgage aspect of your possible purchase. My office is located in Federal Hill off of Fort Avenue or up in Lutherville, so I can have a quick chat with you at either location. Or, if you prefer phone/email, we can touch base that way as well.

I'm here to provide you a solid estimate and hopefully come out on top giving you the strongest sense of trust and transparency with how I interact with clients. You can certainly call or email me using the following: 443-610-4162 or pswanson@accesscap.com.


Paul Swanson
Web Reference:  http://www.accesscap.com
0 votes
Mark Lee, Agent, Timonium, MD
Thu Mar 4, 2010
With a deadline of April 30 to be under contract, you will have to work fairly quickly to make it all happen. Do you plan on moving in two years or so? If you do, you need to think long and hard about buying. If you're going to be here for three plus years, definitely get a pre-approval to know where you stand. Be aware of your monthly budget and don't exceed it, even if you can afford a lot more home. Find a good agent who knows the city well and who will look at each property from top to bottom and inside and out with a critical eye. There are a ton of great neighborhoods in Baltimore; Brewer's Hill is one of them. http://www.livebaltimore.com is a good site to help you to become familiar with the areas and what they have to offer.

I do a ton of work in the city, am a full-time Realtor with over six years of experience and have been a resident of Baltimore for 40 plus years. I have seen lots of different areas wax and wane (Reservoir Hill, SoWeBo, to name but two) and can help guide you to make sure that your purchase works as a good investment. Feel free to call me at 410-375-6114 or email me at mark (at) gomarklee (dot) com. Have fun looking!
0 votes
Terry Reamer, Agent, Pikesville, MD
Fri Feb 19, 2010
Hi Monica,

If you need names of good local lenders I can provide them to you.
I work with a lot of first time buyers and will explain the process to you in detail.
I live in Baltimore and sell homes in all of the areas you are interested in.

If you have any questions please call me.

Terry Reamer 443-570-7672

0 votes
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