Mortgage Information for Home Buyers in MD and Northern VA.
December 13th, 2008 by admin
FOR REAL ESTATE INFORMATION, ASK A REAL ESTATE AGENT OR BROKER.
FOR MORTGAGE LOAN INFORMATION, WE ASK LOAN OFFICERS.
Answering questions about mortgage loans is best done by loan officers, the experts.
We answer questions about real estate in my market area, Maryland and Northern Virginia. That’s our business as a real estate broker.
For questions about mortgage loans, we ask the experts, loan officers.
Below is the most recent Q&A in our continuing series: ”Ask the Lender” page of Homefinders.com. 
QUESTION: I’ve been advised that an FHA loan is a good option for us now. We have reasonable credit but not very high credit scores. Also, can we get closing help with an FHA loan?
ANSWER: FHA is just hard to beat right now.
Rates are going down down down. Really if you look at it, for the last few years rates have been good, but with the recent 1/2 % or more drop it is helping clients buy more house for the same payment.
Remember buyers can receive up to 6% of their purchase price from the seller to go towards closing costs, escrows, and rate buy downs. You, with the help of your buyer’s agent may be able to negotiate a 5 or 6% seller contribution this not only pays for the customers closing costs but helps give them a lower interest rate and payment for the 30 years they live in that house.
Using the services of an experienced Realtor is key to this savings the client has for years after the purchase is over.
For more information, visit the Lender Q&A page on Homefinders.com
KNOW YOUR PRICE RANGE BEFORE YOU TOUR HOMES FOR SALE
Before touring homes for sale, it’s a good idea to know your price range. The Internet offers wonderful information for home buyers showing ACTIVE LISTINGS of homes for sale, photos, features, and more. However, we have found that many prospective home buyers do not know what their qualifying home price would be. The agents with Homefinders.com will help you determine a safe price range. Prior to making an offer on a home you wish to buy, you will need to have a credit review done by a qualified loan officer. The loan offers on the “Ask the Lender” page of Homefinders.com can help. Give them a call.
JUST GETTING STARTED? First time home buyers and home buyers in moderate price ranges may need help with down payment and/or closing costs. We can help you find homes that qualify for DOWN PAYMENT OR CLOSING COST HELP.
Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.
This entry was posted on Saturday, December 13th, 2008 at 8:13 am and is filed under First Time Home Buyers. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.
