The best routes for retirement Baby boomers own the most significant portion of housing value nationwide. Data from the Federal Reserve shows that total real estate wealth in the fourth quarter of 2023 was $44.84 trillion, and boomers claimed an impressive $18.65 trillion (42%) share of that value. A baby boomer is …
Can I get a mortgage without a 2 year job history in Maryland?
How important is stable employment when applying for a loan? Stable employment is a crucial factor in the mortgage approval process. Lenders value Maryland borrowers with consistent job histories since they demonstrate financial reliability. A steady job ensures a reliable income, reducing the risk of borrowers …
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MEP’s Advantage Down Payment Assistance Program
What is the benefit of down payment assistance? DPA is one of the best tools homeowners have in today's market to make homeownership more affordable for Maryland Residents. These programs provide a possible solution to help homebuyers who need financial support. With a shortage of affordable housing across the …
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How can I get a fast home loan or mortgage?
How can I get a fast home loan or mortgage? To increase your likelihood of getting a fast home loan or mortgage approval in Maryland, you should prepare to show yourself as creditworthy and financially stable in advance. Getting a mortgage is a major decision, and in today's market, you may need to be ready to make an …
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The 8 steps of the homebuying process
The 8 steps of the homebuying process If you are one of many first-time homebuyers in Maryland taking the leap this spring, you need to know the essentials before beginning the homebuying process. The homebuying process 1. Are you financially prepared to buy a home? The most important thing to know is if you are …
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Key differences between fixed-rate and adjustable-rate mortgages
Understanding the differences The best way to understand the differences is first to understand what each loan is all about. Let's start by defining both options: A fixed-rate mortgage is a home loan with an unchanging interest rate for the entire loan duration. An adjustable-rate mortgage is also called an ARM. This …
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