On February 5, 2019, Harford County Executive, Barry Glassman announced the Hometown Heroes program for individuals employed full time by: Harford County Sheriff’s Office Harford County Public Schools Harford County Government Harford County Fire & EMS Foundation Harford County Fired & EMS Association This program will provide up to $5,000 to cover down payment and/or closing costs on a home purchase in Harford County, MD. As a local lender, we reached out to the Harford County Office of Community & Economic Development for further clarification: Question: Is this considered a grant? Answer: While
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Our team has worked with many first-time homebuyers. We have found that limited down payment funds is one of the main drawbacks from making a home purchase. Is this a concern of yours? The Maryland Department of Housing and Community Development created the Maryland Mortgage Program (MMP) for potential homeowners like you! Stay with us as we explain the programs and initiatives that MMP offers to “make homeownership affordable.” MMP’s Programs: *SmartBuy 2.0: Do you have student loan debt that is bogging down your monthly budget? With this program, qualified borrowers will be provided
Whether you’re pre-approved to buy a home, considering a home purchase, or contemplating a refinance, you’ll want to prepare yourself for the various costs at closing. So, what are closing costs? Before you seal the deal, you’ll receive a Loan Estimate and Closing Disclosure – both are required to be provided by your lender. These documents were intended to be user-friendly, but they can be overwhelming and confusing. After reading this article, you’ll be well-versed on each itemized fee. The total that you’ll pay at closing will vary based on purchase price, property location,
It’s tax season! For those that that would love to buy a home this year, but haven’t been able to save a down payment, your tax refund could be your golden ticket. If you’re expecting a refund this year, let us show you how realistic homeownership this year could be! Save for down payment: One of the biggest barriers to a home purchase is the down payment. Many believe in the stigma: “a 20% down payment is required to purchase a home.” Luckily, that is not the case! Direct Mortgage Loans offers an array
You’re ready to buy your home, and you’re hearing words like pre-approval and pre-qualification; What’s the big difference between pre-approved and being pre-qualified? The difference could mean your offer is accepted instead of rejected. Pre-qualification is the first step in the mortgage process. You and your lender will discuss your financial situation (assets, debts and income). From this conversation, you’ll have an idea of what you can afford. At this stage, a credit report may not be pulled, and income is not typically verified. Because of this, your pre-qualification estimate may be inaccurate. Note:
As the New Year begins, many of us take time to set goals. We vow to lose weight, get out of debt, save money, spend time with family, reduce stress and get a better job. It’s the beginning of the year and the sky is the limit! You can achieve anything you put your mind to. Studies have found that using the acronym SMART for goal setting will assist you in achieving your New Years’ resolutions: Specific – You’ll want to ensure that your goal is detailed thoroughly so that there are