If you are saving up for a new home,
you might be closer than you think.
You have read all the information that is available on-line. Maybe you have gone so far as to speak with a lender. You have done the math. A typical FHA loan will require 3.5% down. Depending on the area and the price of the home, closing costs can run around 3% to 4%. If you are comfortable with the payments on a $200,000 home, your out of pocket costs could be $14,000.
Of course, you can use the tools available to reduce that cost. Why reduce it? Well, if you are taking home (that is net pay, after all the stuff they deduct from your check) $50,000... the out of pocket costs are more than 25% of your income. That my friend is a lot of money that you need to set aside.
So much to sort out
How ???? How do you reduce the cash you need? It seems as if there is no answer. Closing costs are pretty much fixed. They include escrow money, appraisal, termite inspection, transfer costs, deed recording and title insurance. Most of them are mandated by law and/or your lender. There is no room to cut corners on these costs.
Possible solution : Use the services of John MacArthur and Lourdes Tudela as your real estate agents. These two Realtors work in Washington, DC and the Maryland suburban counties of Anne Arundel, Baltimore, Carroll, Frederick, Howard, Montgomery, Prince Georges and Washington. If you are looking to live in any of those areas, they can help you. As a matter of fact, you can read about Washington, DC by going here and there is a terrific entry about Montgomery County here.
They know the area.
Oh, and they have successfully negotiated for seller concessions to cover most if not all of the closing costs their buyers have faced. You see, there is more to finding a home that just searching the net and driving around. YOU NEED AN AGENT THAT CAN NEGOTIATE THE BEST TERMS FOR YOU.
This is no shell game
John and Lourdes spend a great deal of time researching money sources. They found money that was available for first time buyers before the Government created the tax credit and they have continued to find money after the tax credit ended. There is money available. Right now, they have access to over $3,000,000. It is money that is available. It is money that can be used for down payment and/or closing costs. Sure, there are requirements. FREE MONEY HAS LIMITS. It is still free money.
No problem. All you have to do is call 301-509-5111 and speak with either John or Lourdes. They will be glad to go over your situation and point you in the right direction. One small caveat. They have to work for you. If you will be satisfied having two of the best agents in the DC area represent you and you are interested in receiving some of the $3,000,000 that is available, well make the call.
Act now before the money is gone and someone else enjoys a new home, while you are still saving