First Time Home Buyers
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First Time Home Buyers
We understand that the home buying processing can seem very complex, but we are here to help you. We can help you find a home, the best loan programs that are available for you, and help you determine how large a loan you are qualified for. There are various 1st time homebuyer programs, some of which even offer down payment assistance. The mortgage loans are provided by Local Maryland NMLS licensed mortgage originators. We offer various 1st time homebuyer programs. We offer FHA, VA, Conventional, Jumbo and USDA loans. We are licensed in MD, VA, DE, D.C., PA, NC, SC, FL, IL, and TX.
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What is an HOA? What are its Benefits?

What is an HOA? What are its Benefits? | First Time Home Buyers | Scoop.it
Learn what an HOA is. Learn what the benefits and disadvantages of an HOA are.
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Ways You Can Save When Buying a Home

Ways You Can Save When Buying a Home | First Time Home Buyers | Scoop.it
Learn some ways you can save as a first time home buyer when you buy a home. These tips can save you some money when you buy a home.
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Is Buying a Home a Good Investment

Is Buying a Home a Good Investment | First Time Home Buyers | Scoop.it
Find out if buying a home is a good investment. Buying a home has been considered a good investment for many years.
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Buying a Second Home

Buying a Second Home | First Time Home Buyers | Scoop.it
Buying a second home. What are the benefits of buying a second home? Weigh the pros and cons of buying a second home.
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How to Qualify First Time Home Buyer

How to Qualify First Time Home Buyer | First Time Home Buyers | Scoop.it
Learn how to qualify as a first time home buyer. Who can actually qualify for first time home buyer programs? First time home buyer program restrictions.
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Scholarship Program for Maryland College Students

Scholarship Program for Maryland College Students | First Time Home Buyers | Scoop.it
Buy a New Home in Maryland scholarship program for Maryland College Students.
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Home Buying Checklist

Home Buying Checklist | First Time Home Buyers | Scoop.it
Home buying checklist. Many mistakes can be avoided by using a home buying checklist. To find the right home for your family make use of a home buying checklist.
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Home Buying Tips

Home Buying Tips | First Time Home Buyers | Scoop.it
Home Buying Tips - VisME is the Swiss Knife for creating Awesome Visual Content and effective story telling.
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Home Buying Resource Page

Home Buying Resource Page | First Time Home Buyers | Scoop.it
Home buying resource page for first time home buyers. If you are thinking about buying home you will find helpful resources for first time home buyers here.
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Negotiating-Making a Counter Offer on a House

Negotiating-Making a Counter Offer on a House | First Time Home Buyers | Scoop.it
Learn how to make a counter offer on a house. The negotiation between a home seller and buyer detailed. Home buying negotiation tips.
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First Time Home Buyer Video Guide Book

First Time Home Buyer Video Guide Book | First Time Home Buyers | Scoop.it
Video guidebook for first-time home buyers. First time home buyers can learn about the home buying process through this video guide.
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The Advantages of Buying a Home

The Advantages of Buying a Home | First Time Home Buyers | Scoop.it
Learn the advantages of buying a home. There are several benefits to becoming a homeowner. Find out how you can benefit from buying a home.
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BUY A New Home In Maryland in Timonium, MD - (443) 943-6...

BUY A New Home In Maryland in Timonium, MD -  (443) 943-6... | First Time Home Buyers | Scoop.it
Services: mortgage loans, realtor services.
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Little Known Very Important Things about Buying a Home

Little Known Very Important Things about Buying a Home | First Time Home Buyers | Scoop.it
Discover little known but very important things about buying a home. These very important things are often overlooked by home buyers but should not be.
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How to Find a Quality Real Estate Agent

How to Find a Quality Real Estate Agent | First Time Home Buyers | Scoop.it
Ten tips on finding a quality real estate agent to help you buy a home. Helpful tips on finding a quality real estate agent to help you find and buy a home.
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Buying a Home With a Low Down Payment - TheRodinhoods

Buying a Home With a Low Down Payment - TheRodinhoods | First Time Home Buyers | Scoop.it
Buying a home is perpetually one of the biggest dreams in life. However, not having up to 20% or even 10% of the required down payment may be discouraging. Not to worry, the fact that you haven’t saved up enough money for a large down payment doesn’t mean your hopes of buying a house are dashed. For those ready to buy a home, read how to buy a home. Overall about 26% of home loans are made with a down payment of less than 10% of the house value. The number of buyers who bought homes with less than 10% down payment has increased over the past five years. This is primarily due to the reduction in the cost of mortgages offered by the housing administration. These policies allow underwriting loans to those interested in borrowing with lower down payments. Although critics worry that the upsurge in low money down lending may set the level for a reprise of the housing bubble. The principal reason for the change is to make home ownership a more realistic goal, especially for all first-time buyers. There has not been a significant deviation in the number of individuals who default on the low down payment as opposed to those who default on the high down payment loans. With Federal Housing Administration (FHA), purchasers have the opportunity to make down payments of only 3.5% the value of their home as long as they meet the requirements. With the Department of Veterans Affairs (VA) and United States Department of Agriculture (USDA), purchasers have the opportunity of making no down payment as all as long as they meet the minimum requirements. With Conventional Loans, purchasers can purchase a home with a down payment as low as 1% as long as they meet the minimum requirement. If you are considering opting for a small down payment loan, then there are certain things you must put in place. The first thing you should recognize is that you would have less equity in your home. You would also need to pay for private mortgage insurance, which is demanded on any loan with less than 20% down payment. If you desire to buy a home and you cannot afford the required amount as down payment, then you need to keep the following in mind: Private mortgage cost. Except for VA Loans when you put down less, you would accept to pay private mortgage insurance. You cannot avoid this piece as it is required for anyone buying a home with a down payment less than 20%. In the long run, this kind of loan may be more expensive than paying the 20% upfront. Some agencies like USDA and FHA now demand that borrowers pay this mortgage insurance for the entire term of the mortgage. What is private mortgage insurance? Ensure that you set aside no less than 1% of the total value of the home in cash. This may become necessary if there is an emergency repair or you need maintenance. You must be prepared for any unforeseen financial challenge you may face along the line. For example, if you lose your job, you need to have enough money saved up to cover your mortgage for no more than six months. The smaller amount down that you pay, the higher you’ll have to pay every month as PMI until your home has up to 20% equity. The percentage of your down payment does not affect your lender fees It doesn’t really matter how big or how little your down payment is, your lender fee remains constant. This happens because lenders are prohibited from charging fees based on the size of down payment. On the other hand, different loan types require various services, and this will affect the total loan closing costs. How to fund your down payment? You can fund your down payment through savings, proceeds from the sale of your present home and checking accounts. You can also borrow from your retirement plan. Gifted down payment funds from a relative are also allowed to assist you with buying a home. Most states have down payment assistance programs available for first time home buyers as long as you meet the minimum requirements. So you know what exactly is involved in a low down payment home loan. It’s time to put things in order so that you don’t get turned down when you make your request. Talk to an experienced Loan Officer or Mortgage Broker. Talk to an adviser that can walk you through every step of the process. An adviser would be in the best position to help decide if you are presently in a position to buy a home without a lot of savings built up. Research on all available federal mortgage programs. You can check in with your local housing authority if you need help. Consider seller financing and see if it is possible as these usually demand lower down payment. Be realistic and set responsible expectations. If you have a bad credit score, improve it. Avoid credit card pitfalls. Always have a reasonable explanation for credit troubles. Dispute every inaccurate information on your credit report. Practice fiscal responsibility to improve your score. Devote enough time for your credit to improve your score before you request for the loan. Your credit score should be at least 620 to improve your chances of a mortgage approval. Now you can start considering the sort of low down payment loan you would prefer. You can go for either of the following; VA loans. 0 Down Payment Required. USDA rural development loans. 0 Down Payment Required. State and local homebuyer programs. Contribution are made by these programs towards the down payment on a house leaving the home buyer with less to come up with. FHA loans. 3.5% Down Payment Home Ready mortgage. 3% Down Payment Required. Lower PMI Rates. Conventional 97 mortgages. 3% Down Payment Required. You can decide to go for any of the low down payment loan options as long as you are sure you can afford all the fees associated with them. If you do not make a down payment, you will lack equity until you begin to pay off your mortgage or when you home value rises. The low down payment option should only be considered when you have no other way to make the regular down payment.
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Buying a Foreclosed Home

Buying a Foreclosed Home | First Time Home Buyers | Scoop.it
Buying a foreclosed home. Advantages of buying a foreclosed home. Disadvantages of buying a foreclosed home.
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Determining How Much Mortgage You Can Afford

Determining How Much Mortgage You Can Afford | First Time Home Buyers | Scoop.it
How do i figure out how much of a home I can afford? Follow these tips to figure out how much of a mortgage you can afford. Calculate how much of a mortgage payment you can comfortably fit into your budget.
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Renting VS Buying a Home

Discover the pros and cons of renting or buying a home. Renting vs buying a home which is right for you? Should you buy or rent a home? Which is better buying or renting a home?
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10 Biggest Mistakes First Time Home Buyers Make

10 Biggest Mistakes First Time Home Buyers Make | First Time Home Buyers | Scoop.it
Read about the 10 biggest mistakes first time home buyers make. Avoiding these 10 first time home buyer mistakes can make your home buying experience smooth and successful.
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10 House Hunting Tips

10 House Hunting Tips | First Time Home Buyers | Scoop.it
Tips that can help you with your house hunt. 10 helpful house hunting tips for first time home buyers. Don't start looking for a house without viewing these 10 house hunting tips.
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10 Things to Consider Before Buying a Home

10 Things to Consider Before Buying a Home | First Time Home Buyers | Scoop.it
Things to consider before buying a home. Consider these things before buying a house. 10 things you should consider before buying a home.
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Buy a New Home in Maryland - YouTube

Buy a New Home in Maryland - YouTube | First Time Home Buyers | Scoop.it
Buy a New Home in Maryland is located at 1920 Greenspring Dr Timonium MD 21093. We can be reached at 443-943-6486. Visit our website a
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YouTube channel offering home buying tips and information on the home buying process. Presented by Buy a New Home in Maryland 1920 Greenspring Dr Timonium MD 21093 443-943-6486
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Buy a New Home in Maryland Receives 2016 Best Businesses of Timonium Award. - Free Online Library

Free Online Library: Buy a New Home in Maryland Receives 2016 Best Businesses of Timonium Award. by "PR.com (Press Releases)";
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Buy a New Home in Maryland

Buy a New Home in Maryland | First Time Home Buyers | Scoop.it
Get information, directions, products, services, phone numbers, and reviews on Buy a New Home in Maryland in Timonium, MD. Discover more Mortgage Bankers and Loan Correspondents companies in Timonium on Manta.com
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