Rebecca Cole

The Maryland Housing Fund announced on Friday, October 24^th that the maximum allowable loan to value for first time home buyer loans is 97%. The Maryland Housing Fund provides the mortgage insurance for CDA loans.

What exactly does this mean for First Time Home Buyers in Maryland?

• First Time Home Buyers will need a 3% down payment
• The 3% down payment may be a gift
• Mortgage insurance is a one time financed premium (up to 100.5% LTV)
• There is no monthly mortgage insurance premium
• There are no reserve requirements
• The seller may contribute all closing costs and prepaid items
• Grant programs are available
• 30 year and 40 year terms are available
• Rates are below market and fixed for the life of the loan

Compared to other financing, CDA programs are viable mortgage options for first time home buyers in Maryland. The financed mortgage insurance premium may lower monthly payments when compared to an FHA loan. When looking to purchase a home, it is important to compare all programs available and determine which loan product will best serve your needs.

If you are a first time home buyer in Maryland, talk to an approved CDA lender to review all of your mortgage options. Make sure the person is up to date on CDA, FHA, and other guidelines.

If you would like more information about first time home buyer programs or other mortgage financing, contact Rebecca Cole. Committed to excellence!

I stopped by a little shop on York Road call Swirl Wine a couple of weeks ago. I was looking for a nice bottle of wine to compliment a birthday gift for a coworker. As soon as I walked into the wine shop I was pleasantly surprised by the tasteful décor.

Someone greeted me warmly and asked if I needed assistance. I described the type of wine I was looking for and gave my price range. I was directed to a bottle of wine fitting my description. The wine was beautifully wrapped for me and I was on my way with a lovely gift.

Swirl Wine is an unexpected surprise on York Road. They host a wine tasting every Friday from 3-7 and Saturday from 1-7. Stop by to sample some great wine and find that perfect unique gift for someone on your shopping list.

If you are looking to purchase a home or refinance, contact Rebecca Cole. Committed to excellence!

Weber's Cider Mill Farm offers a host of family fall activities including hayrides, hay mazes, hillside slides, farm animals, and a scarecrow workshop. Children of all ages will be entertained for hours at the Barnyard Activity area. According to my two year old, the hillside slides are "really fast" and she loved finding her way out of the vast hay maze.

On weekends from 11:00am-4:00pm the Providence Volunteer Fire Company is on hand serving sandwiches, fresh cut french fries, and hot dogs. The apple butter barbecue pork sandwich is delicious. Polish it off with a warm apple cider doughnut and life is good!

Weber's is a locally owned roadside family market and has been serving Maryland since 1908. The farm market is brimming with fresh vegetables, homemade fudge, and a vast variety of freshly baked splendor.

If you are looking to purchase a home or refinance, contact Rebecca Cole. Committed to excellence!

The Maryland Home and Garden Show in conjunction with the Maryland Craft Show will be held at the Timonium Fairgrounds this weekend Oct. 17 - Oct. 19.

Show times are Friday and Saturday 10:00am - 9:00pm, and Sunday 10:00am - 6:00pm.

Admission for Adults is $9.00, seniors $6.00, children 6-12 $3.00, and children under 6 are free

$2.00 coupons are available

The show will feature seminars, a long list of exhibitors, over 500 booths, and activities for children.

Jim Parks from HGTV will be hosting Home Owner Green-O-Rama and Update My Kitchen sessions.

If you are looking to purchase a home or refinance, contact Rebecca Cole. Committed to excellence!

The American Dream Down Payment Initiative has funds available for home buyers in Baltimore City, Maryland. Buyers may receive up to $10,000 in down payment and closing costs assistance in the form of a 5-year forgivable loan.

Buyers must contribute at least $1,000 of their own money. ADDI funds may be combined with other grant programs.

Income Limits are as Follows:

1 person household $43,050

2 person household $49,200

3 person household $55,350

4 person household $61,500

5 person household $66,400

6 person household $71,350

7 person household $76,250

8 person household $81,200

If you are interested in learning more about ADDI down payment assistance or other first time homebuyer programs contact Rebecca Cole. Committed to excellence!