Academy Mortgage and Lowe’s are coming together to create a partnership in Maryland. This effort is called REbuild USA. This program will help many of you across Maryland bring your homeownership dream to life as well. We all know that Maryland was recently hit by a perfect storm of negative conditions that created economic challenges not [...]
While many experienced Maryland real estate agents have a general understanding of the mortgage approval process, there are a few important details that frequently get overlooked which may cause a purchase to be delayed or denied. New Maryland regulation, updated disclosures, appraisal guidelines, mortgage rate pricing premiums, credit score, secondary approval layering, rescission deadlines, property [...]
The possible changes to the Maryland 2011 FHA loan limits by county are charted below. With only a 3.5% down payment, FHA mortgages have been a great mortgage option for First Time Home Buyers. These loan limits are expected to be lowered as of October 1, 2011. If you are in the market to purchase [...]
* Disclaimer – all information in this article is accurate as of the date this article was written * The Maryland FHA Mortgage Insurance Premium is an important part of every FHA loan. There are actually two types of Mortgage Insurance Premiums associated with FHA loans in Maryland: 1. Up Front Mortgage Insurance Premium (UFMIP) [...]
Even though many lenders are still quoting quick 10 minute pre-qualifications over the phone or online, a true mortgage approval that holds any weight in Maryland is one that has been issued by an underwriter who has had an opportunity to review all of the necessary documents. With a constant stream of new lending guidelines, [...]
Maryland 203K loans offer a great vehicle for your agent’s to get rid of their excess inventory of REO and foreclosed properties. Many realtors shy away from Maryland 203Ks since it is difficult to establish up front what the exact cost will be to the prospective buyer, or simply because they don’t know how the [...]
Here are a few quick bullets that outline the guidelines for the different types Maryland 203k FHA mortgages. For more information about a Maryland FHA Mortgage, Loan Limits, or FHA guidelines, please feel free to contact me directly. Bill Sohan 410-963-2308 —————————————– FHA 203K REHAB – Maryland —————————————– This loan allows a customer to finance [...]
Come to our Maryland Home Buyer Workshop on April 5th or April 7th at 7pm. In just 60 minutes, you will receive the knowledge you need to buy in today’s market. Prospective buyers in Maryland will receive a realistic preliminary estimate of costs and required down payment and a mortgage pre-approval letter you can take to [...]
Here are a few quick bullets that outline the guidelines for the different types Maryland 203k FHA mortgages. For more information about a Maryland FHA Mortgage, Loan Limits, or FHA guidelines, please feel free to contact me directly. Bill Sohan 410-963-2308 —————————————– FHA 203K REHAB – Maryland —————————————– This loan allows a customer to finance [...]
*This is not an offer to lend. 
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