Hi Ensy, An FHA loan is a mortgage insured against default by the federal government. It allow for downpayments as low as 3 1/2 % of the loan amount. A mortgage insurance premium (MIP) is charged to the borrower if they are putting less than 20% down. Currently this MIP drops off of your monthly payment in about 11 years, but starting in June, the MIP will continue for the life of the loan.... more
Sorry - not unless you negotiated the ability to end the lease ahead of time without penalty. If you signed a 12 month lease, you're committed to 12 month's rent. Many landlords will work with you if you are cooperative when finding a new tenant, but it will likely cost you some money. Good luck.... more
All lenders can do this. You get a higher rate in exhchange for funds to be used to closing costs. The devil is in the details though so they need to clearly say what is considered a closing cost and what's not. Hope this was helpful.
Senior Loan Officer
1ST Mariner Mortgage
Lending in all 50 states
Call a couple local lenders and speak to a loan officer. You should have done this already, it is step #1 to buying a home. Ask the loan officer if the condo is approved or not, if they do VA loans they will know. You should also contact USAA since they do more VA loans than anyone else and ask them too.... more
Found a few single family homes in Bethesda, Chevy Chase, and Wheaton in that price range, don't know if the locations will suit your requirements or not. You can click on the map feature of the search to view location http://matrix.mris.com/Matrix/Public/Portal.aspx?ID=50617837647 . Let me know what you think and if you find them suitable, we can arrange to see them.
Burning Tree Elementary is located in a very residential part of Bethesda, with no commercial areas within walking distance. By car, downtown Bethesda is quite close by, one of the advantages of this neighborhood, with probably the closest located about 1-2 miles down River Rd. Hope this helps!
Long & Foster