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In the state of Maryland, as a first time property owner, you are eligible to avoid the state transfer tax which is .25% of the sales price. Other than that, there are down payment assistance programs both with the state and with Montgomery County. For a one to two person household buying anywhere in the…

You may be eligible for a first time buyer credit of $5000. Here is the IRS tax form: http://www.irs.gov/pub/irs-pdf/f8859.pdf DC’s page on the subject: http://otr.cfo.dc.gov/otr/cwp/view,a,1330,q,594156.asp The issue is that they haven’t yet extended the credit for 2012 yet. See the IRS form for income restrictions, if you are buying as an individual, the income max…

Thanks to Trent Watts at Watts Media Productions, I now have fifteen different videos uploaded answering frequently asked questions about mortgages.  I’m excited to share this new form of information with you all.

Per President Obama’s press conference today 3/6/12, it looks like he’ll be cutting in half the mortgage insurance on FHA streamline refinances.  We await additional information but this is great news thus far!

Annual Percentage Rate, or APR, is the most commonly misunderstood term in borrowing. The use of APR was required as of the Truth In Lending Act, the purpose being to help prospective borrowers understand the cost difference between rate offers. APR, unlike the interest rate, offers a look at the true cost of financing by combining both…