Loan Program Guidelines Are Subject To Change!! Return Home
On Maryland purchases the seller will usually pay a point or two to permanently buy down the rate (this can save thousands at closing and over the life of the loan); or may be agreeable to paying a percentage of the sales price in closing help. Please keep in mind that the discount points paid by the seller are tax deductable by the buyer, another reason to try to get the seller to pay points...
General guidelines allow 3% Seller help with 5% down, 6% Seller help with 10% or more down. Something to keep in mind when you are ready to submit an offer. UPDATE: Some Loan Programs allow 6% Seller help with No Money Down and Less Than 5% Down. Call For Details.
In Maryland, we offer no point purchases for cash strapped borrowers. Some borrowers get the seller closing help AND zero point loans to really save money at closing...
It is important to call us and discuss your cash position and the details of the proposed transaction before entering into a sales contract. We offer free phone consultation, 410-310-8893; or click for or On Line Purchase Pre-Qualification.
We recommend the services of a Real Estate Attorney or a Realtor, there is too much at stake and there are too many potential pitfalls when buying real estate. Please don't buy without the advise and guidance of a trained professional.
Did you know that ALL Mortgage Companies are required by law within 72 hours after application to provide a Good Faith Estimate of closing costs and a Truth In Lending disclosure showing the Annual Percentage Rate (A.P.R.) along with other required state and federal disclosures? Be sure to get the required disclosures, it is the only way to truly know if you are really getting what the company is verbally offering. Get the disclosures, and call us and compare in Maryland!
If you are outside of Maryland,
please click here, select your state and
check with the lenders licensed in your state.