Purchasing real estate, whether it’s a house, condominium, or an apartment, is probably one of the most important financial transactions a person will conduct in his lifetime. This single purchase will affect the syle of life that you will live with for years to come.

Due to the long-term effect a single real estate transaction may have on the buyer and the seller, it is important that all the details pertaining to this transaction be formalized. It is not enough that the dimensions of the land, the purchase price and equipment included in the sale are listed down; the individual obligations of both the seller and the buyer should be itemized as well. All these details should be found in just one document, the Real Estate Sales Agreement. [..more..]

If you are looking for a Home Mortgage loan in Maryland we can help! For more information on how we can help you with your home mortgage, please visit our website at Maryland Home Mortgage Loans

When purchasing a new home, you become the title owner of record. Essentially, this means you are listed in public records as the legal owner. This may sound like a simple concept, but how you’re classified as an owner can impact legal and tax issues. Here are some issues to consider when taking title.

Single Owner:If you are purchasing the property on your own, there is really only one title choice. Yep, you are going to be listed as the sole owner, in your own name. If you are investing in rental or commercial properties, you should speak with a lawyer about purchasing the properties through a limited liability company to limit potential liabilities.

Two or More Owners: If you’re married, many states require you to take title in a property as community property. In such states, you and a spouse are automatically considered to be joint owners regardless of any other factors. Community property title can have tremendous but macabre tax benefits. If one spouse dies, the living spouse gets a “step up” basis for tax consequence and huge capital gains taxes. For instance, if you purchased a home for $200,000 and it is worth $400,000 when a spouse dies, the remaining spouse gets to figure any capital gains using $400,000 as the cost of the house instead of $200,000.

Joint Tenancy: In some states, spouses are not required to take community property title. Instead, they and any collection of two or more owners may take title in joint tenancy. The advantages of joint tenancy are twofold. First, you get the step up basis mentioned above. Second, title in the property automatically transfers to surviving owners upon the death of one owner. This means you get to avoid probate, an expensive and lengthy court process.

Taking Title” When buying a home, don’t just pick title willy- nilly. Take the time to explore the options in your state and pick the best one for you.

For more information on how we can help you with your Maryland  home mortgage, please visit our website at Maryland Home Mortgage Loans

Maryland Home Mortgage Loans: Effective February 1, 2010, HUD will no longer require a Seller to hold a property for a minimum of 90 days before re-selling using FHA financing.

Previously, this anti-flip rule was put in place to help stabilize large swings in property values. Investors were buying homes for cash, doing minimal repairs and re-selling for huge profits. HUD feels they can help fuel the economic recovery by not restricting the re-sale of fixer-uppers or financially distressed type properties.

HUD will however require the Seller to document the costs of improvements and reserves the right to require a 2nd appraisal. This is important because prior to this waiver, many of the bargain homes were only available to purchasers who had the financial resources to pay cash or purchase using Conventional financing (minimum 10% down). As a result of the HUD waiver, buyers with a minimal down payment (3.5%) can now compete using FHA financing with deep-pocket investors for the best bargain properties available. [...more...]

For more information on how we can help you with your home mortgage in Maryland, please visit our website at Maryland Home Mortgage Loans

Maryland Home Mortgages: It is important to understand that a pre-qualification letter is just an estimate of what you are eligible to borrow, not a commitment to lend. Getting pre-approved for a loan gives you competitive advantage when the time comes to bid on a home because you have been approved for a loan for a specified amount.

Please visit our website for more information on how we can qualify you for a new home loan!

At Maryland Home Mortgage we take the time to explain completely what the buyers can expect during this process. I commit to communicate effectively with all parties so that nothing is left to chance. I attend all closings so that everyone knows that I can be counted on to do what’s right and to make sure that it is. Since we are an FHA DE endorsed lender, our files are underwritten directly.

For more information on how we can help you with your home mortgage, please visit our website at Maryland Home Mortgage Loans

Make no mistake, there’s a lot involved in getting a mortgage loan. You wouldn’t be here on our website if you could fill out a one-page application and get the best loan for you funded the same day. What we do is most of the heavy lifting for you, so you can concentrate on what’s important — preparing to move into your new home, saving money, or making plans for your home equity line of credit.

For more information on how the home loan process works, please visit our websites at  Maryland-Home-Mortgage-Loans.com

Ever heard the old rule of thumb, you should only refinance if your new interest rate is at least two points lower? That may have been true years ago, but with refinancing dropping in cost over the last few years, it’s never the wrong time to think about a new loan! Refinancing has a number of benefits that often make it worth the up-front expenditure many times over. [..more..]

Private Mortgage Insurance, also known as PMI, is a supplemental insurance policy you may be required to obtain in order to get a mortgage loan. PMI is provided by private (non-government) companies and is usually required when your loan-to-value ratio — the amount of your mortgage loan divided by the value of your home — is greater than 80 percent. [..more..]

Refinancing your current mortgage is easier with us. We make it easier to reduce your interest rate and monthly payment. We can even help you pay down your balance more quickly for comparable monthly payment. Let us guide you to the very best refinanced loan!

Please navigate our website to learn more about us, what we do for you, and how easy it is to get started.

Maryland Home Mortgage Loans