Just got this from one of my mortgage lender partners. Huge updates to the Maryland Mortgage Program. The lender can have the deal house of your choosing closed in 30 days.
The State of Maryland has announced they are removing the requirements for counseling pre-contract in Baltimore City and County. Counseling is now standardized for the entire State and can be done on-line (or in-person if the client prefers that).
Here are a few highlights of the State’s program if you are not familiar with it –
3% down payment/closing costs available (only for first time home buyers)
4% grant available for down payment/closing costs – Clients DO NOT have to be a first time home buyer and grant is forgivable immediately after settlement
$5,000 down payment/closing costs available (only for first time home buyers)
15% available to be applied toward max $40,000 of student loan debt – 5-yr forgivable loan *680 credit score required
Minimum 640 credit score, income limits apply and no additional home inspection required.
For more information please contact us at www.MarylandHomesByLynn.com