Author Archive
Maryland FHA Changes As Of April 5th 2010
Maryland is changing it’s FHA guidelines on April 5th 2010. and here are 3 important changes you need to know about.
The new Maryland FHA upfront mortgage insurance premium (UFMIP) will be 2.25% for all purchase and refinance loans up from 1.75%
Maryland FHA seller contributions will be cut in ½. You will be limited to a 3% seller [...]
Maryland FHA Responds to Short Sales
Maryland FHA responds to Short Sales and here are the 5 things you need to know.
Changes are effective immediately.
Maryland borrowers ARE eligible for new FHA financing if they are 0X30 on the mortgage in the last 12 months and the proceeds from the short sale serve as payment in full.
Maryland borrowers whose mortgage was in pre-foreclosure [...]
Maryland 2010 FHA Loan Limits
The Maryland 2010 FHA loan limits by county are unchanged from 2009. With only a 3.5% down payment, FHA mortgages have been a great mortgage option for First Time Home Buyers.
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
County Name
Single Family
Duplex
Tri-plex
Four-plex
ALLEGANY
$271,050
$347,000
$419,400
$521,250
CUMBERLAND, MD-WV (MSA)
ANNE [...]
Maryland FHA Proposed Rule and 2010 Loan Limits
Maryland’s FHA proposed rule was published today in the Federal Register regarding lender eligibility and net worth requirements.
6 Things you need to know about these changes:
1. If accepted, these changes will take effect January 1st, 2010.
2. Maryland FHA proposes to no longer approve mortgage brokers for participation in Maryland FHA programs.
3. The sponsoring Lender must [...]
Maryland $8000 Home Buyer Tax Credit Extended
The U.S. Senate & House have passed legislation to extend the Maryland $8,000 home buyer tax credit to May 1, 2010, for first-time buyers AND add a $6,500 tax credit for the existing homeowner if they’ve lived in their home for five of the past eight years. Maryland First-time homebuyers will continue at $8,000 – same [...]
Alert: Maryland First Time Hombuyer $8000 tax Credit Due To Expire
If you live in Maryland and you still want to take advantage of the $8000 First Time Homebuyer Tax credit you should hurry up. The 1st Time Homebuyer credit is due to expire on November 30th. Many of the big banks are turning customers away b/c they can’t process a loan in 30 days. Academy Mortgage is [...]
Don’t wait until it’s to0 late! Take advantage of the free $8000 1st. time Baltimore Maryland Homebuyer program
FHA Mortgage, Interest Rates, Short Sale, USDA Rural Guaranteed Loan, VA Guaranteed Home Loan
Maryland 1st. Time Home buyer CDA Mortgage Program
This is a mortgage purchase program for 1st time home buyers(fed definition) Fixed rate, 30 yr loans Used with FHA, VA or USDA financing.
Borrower’s can get Down Payment & Settlement Expense Loan Program. Money the state has appropriated to lend to 1sttime home buyers at 0% deferred, for them to use toward their settlement expenses. A Loan of [...]
Maryland Differences Between 2008/2009 First Time Homebuyer credit
The chart below shows the differences between the 2008 and 2009 First Time Homebuyer tax credit for Maryland:
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
FEATURE
CREDIT AS CREATED JULY 2008
APPLIES TO ALL QUALIFIED PURCHASES ON OR AFTER APRIL 9, 2008
REVISED CREDIT –
EFFECTIVE FOR [...]
Maryland FHA 203K
Here is 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
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FHA 203K REHAB – Maryland
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This loan allows a customer to finance the purchase price, or the existing [...]
