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  WHAT FIRST-TIME HOMEBUYERS MUST KNOW ABOUT BUYING A HOUSE IN MARYLAND The first-time homebuyers of Maryland face many of the same obstacles as buyers around the nation. High prices and limited inventory can make the process seem discouraging. But you are lucky because the Old Line State gives you easy access to a ton of support. The Homebuyers can get counseling and advice as well as homebuyer education courses. And, best of all, you might be in line for cash assistance to help cover your down payment and closing costs. MARYLAND HOME BUYER OVERVIEW According to the repo r ts by Maryland Realtors, in the Old Line State, the median sales price for homes was $380,000 in July 2021. There was a 12% increase year over year that was up from $339,000 a year earlier. These sorts of rises for the homebuyers can be discouraging as they are saving for a down payment, leaving them feeling as if they’re climbing. MARYLAND FIRST-TIME HOMEBUYER PROGRAMS The Maryland Mortgage Program ( MMP ) has been

  UWM the wholesale lender has launched a new, potentially game-changing platform expected at achieving 15-minute initial approval for eligible borrowers. The Pontiac-based company hailed it as a “revolutionary tool”, ‘Bolt’ is intended to provide quick loan approvals with less touch, allowing initial approval of the file to be accomplished in minutes instead of hours. Mat Ishbia who is the firm’s president and CEO unveiled the product at the Association of Independent Mortgage Experts (AIME) live Fuse event in Las Vegas at the weekend — AIME’s first ‘in person’ get-together ever since the pandemic. The aut o matic document recognition, data extraction, and smart technology to input information from such items as driver’s licenses, income statements, and county records are handled by Bolt. The Brokers are also given the right to use the same income calculator used by UWM underwriters while notifying the user of latent discrepancies by this platform. The new attribute can be accessed in

  When a home is bought and resold within a period of a year it is called  flipping  and the profits depend on the condition housing market and on the cost to flip. Most flippers upgrade or improve the house to increase their returns. According to property database ATTOM, even with the pandemic affecting the economy, approximately 80,000 single-family homes and condominiums were flipped during the second quarter of 2021, which is almost 5% of all home sales. In the second quarter, the gross profit on a typical flip rose to $67,000 because the home values increased. Over a ll the profits were low because of the drop in return on investment, which is calculated after all the costs of the flip are considered. The return in the second quarter of 2020 was 40% and it dropped to 33.5% in the second quarter this year. Todd Teta, chief product officer at ATTOM even after renovation and holding expenses a 33% profit on short-term investment is pretty decent. He added some flippers are seeing bet

  In Connecticut, the cost of living is 27.7 % higher than the national average, so the vision of owning a home by a middle-class American is beyond the means. In June a bill was passed by Gov. Ned Lamont backed by housing and urban planning advocates from the area which put a partial solution to the rising costs of housing. According to the nonprofit Regional Plan   Association  ADUs  or accessory dwelling units, granny flats or in-law apartments can be basement apartments, attic apartments, or separate buildings, irrespective of the name these structures are secondary units to a primary residence on a property. These ADUs are like any home with a living space, kitchen, bath, and bedroom. Some ADUs share a common roof with the primary residence, but they’re separate homes. ADUs are legalized statewide on existing single-family lots. House Bill 6907, faced major revision before reaching the governor’s desk, according to the law, with new construction limits were put on the number of pa

  About Limited Cash Out Refinance If a borrower understands the loan operations, knows the terms and the primary elements of the process then they are more likely to qualify for a  purchase  or  refinance a home loan . A borrower’s ability to qualify for a loan is based on various factors that allow a lender to qualify for a maximum amount of the loan. Factors such as the value of any loan, including the  limited cash out refinance loan , are partly dependent on the cash the borrower has in hand for a down payment and closing costs, it also depends on the borrower’s loan-to-value ratio. O u t of several  types of refinance loans , the limited cash out refinance home loan is one, and it’s a useful loan for a borrower who needs access to cash. Interest Rates and Refinancing Many homeowners search for a mortgage refinance option when there is a decrease in lending interest rates which will make more cash available to them on a monthly basis or allow the homeowner some other more favorabl