How To Get Grants For A Down Payment For

Maryland First Time Home Buyers

( Original Article Here)

Did you know that there are 2,290 down payment programs across the country waiting for home buyers to apply for funds. .and most of these remain unused just because home buyers are unaware they even exist!

This is according an analysis recently issued by RealtyTrac, a real estate data provider, and Down Payment Resource, a purveyor of home-buyer assistance programs.

Did you know that the average amount of down payment assistance per buyer is $11,565, according to this analysis?

The problem is, few first time home buyers don't know this type of help exists—ignoring all the money out there to help them become homeowners.

There’s a lot of missed opportunities here and we encourage you to take advantage of all these possibilities if you are buying a home in 2016.

5 Easy Ways To Save For a Down Payment

A Down Payment Assistance grant decreases homebuyer costs, avoids burdening the home buyer with additional debt and allows them to afford a more expensive home.

Ask Your Realtor and Your Lender

Your Realtor and lender alike need to research and understand various funding resources for your particular needs as a buyer...if they are not doing this, you need a different Realtor or Lender

Some of the major program types that you may qualify include the following:

Below-market interest rate loans or 100% financing
Mortgage credit certificates that provide annual tax credits for the life of the loan
Maryland Neighborhood Stabilization Program loans and grants designed to revitalize communities
Maryland First Time Home Buyer Tax Discounts

In case you have not hired a Realtor to help you in this process. .

Let us be your guide as a first time buyer homes in our area.

There are many unadvertised programs out there.. and we work in conjunction with qualified lenders that are 100% knowledgeable for all the these grants out there.
We can guide you specifically for Montgomery , Frederick and PG counties in Maryland
We showcase the finest homes in real estate for sale today
for MD DC and VA

Click on the picture below to get started!

Maryland MLS Homes For Sale

10 HUGE FIRST TIME HOME BUYERS MISTAKES!

http://www.reallynicehomes.com/blog/how-get-grants-down-payment-maryland-first-time-home-buyers/

When First Time Home Buyers Feel Intimidated. .

There are very few instances in ones life that is as important as buying your first home.

You don't have to do it alone, there are real estate professionals willing to help you achieve this dream.

Just be sure that you are motivated to be a homeowner and hire an agent whom you feel comfortable with.

Remember, when you are buying a home, the seller has their own agent representing them....you need a buyer's agent to represent your best interests when buying a home

A first time home buyer is defined as an individual, who has not had an ownership interest in a home prior and has little or no experience in the home buying process

The National Board of Realtors advice to these buyers is to take your time and not rush. There are lots of steps and you need professional help.

One of the first steps to being a first time home buyer is to get their financial house in order, your Real Estate Agent will help you make sure your credit scores are compliant with all the new mortgage lending guidelines. You need a mortgage loan and that is the first focus in the home buying process.

You need to be aware that the actual cost of buying home is usually much higher than the cost of the home itself, as it includes taxes, interest, and closing costs etc.

But one thing you should not pay is your own Real Estate Agent, they are paid from the commissions offered by the seller.

In general, the purchase of any real estate is contingent upon the contract price being at or below a fair market value determined by an appraisal.

This will assure you that you will not overpay a penny over what the house is worth.

Your lender send a third party appraiser to make sure the sales price in your contract is exactly what the house is worth or MORE.

What happens if the house is valued less than the purchase price previously agreed with the seller?

In this case the lender will not fund the loan to you. If the house's value is less than what your contract with the seller says..the lender will not give you a loan and subsequently there will be no sale.

The seller then will have to reconsider and they have the option to drop the price to the appraised value of dispute it by using another appraiser

This is when your real estate agent comes handy...to protect your best interests and advice you accordingly.

Dowload Your Benefit Programs for First Time Home Buyers in Maryland and see how much you can save as a First Time Home Buyer

DOWNLOAD FULL LIST HERE

Please contact us for more details

Help For First Time Home-Buyers in Maryland

301-246-0001

Originally published http://www.reallynicehomes.com/blog/when-first-time-home-buyers-feel-intimidated/

Tuesday, February 23, 2016