Most homeowners use the equity in their current home as the down payment for their next home. Properties in Baltimore, Owings Mills, and other hot communities in Maryland go fast, and the competition is fierce. One way to make your offer more competitive is to waive the home sale contingency. A bridge loan can …
What you need to know about 2-1 buydown loans
In the current interest rate environment, many lenders in the DC, Maryland, and Virginia areas are looking for ways to help make homeownership more affordable. A 2-1 buydown may just be the thing! It is a mortgage lending approach that provides for a lower mortgage payment during the first two years of the loan. In the …
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Learn the secrets of successful first-time homebuyers
It is a seller’s market, and first-time homebuyers are looking for tips and strategies to compete in the real estate market. Finding a home and presenting the winning offer is a full-time job. Home prices have hit record highs in Maryland, Virginia, and the DC area, just like many other parts of the country. In some …
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Mortgage rates are on the rise
First-time homebuyers have become increasingly frustrated as they try to enter the housing market. However, if first-time homebuyers compare home prices and rates to what previous generations paid, they may be shocked by what they learn. For example, decades ago, the average home price was a fraction of what it is …
Tips for managing holiday credit use
It's very easy to go over your budget during the holiday season. The money adds up between buying gifts and overspending on fun holiday events. Often, this can put you in a challenging financial situation. When you are drowning in credit card payments, the only thing you want to do is pay it all off. If you are up to …
Are you looking to buy a house? Tips on how to win a real estate bidding war
Demand for housing in Maryland is at an all-time high, but the number of homes available to purchase is still very low. This creates an incredibly competitive market and can often start bidding wars among homebuyers. According to realtor.com, some homes can get 20 to 30 offers. This can drive up the sales price $50,000 …
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