Even Banks Are Hating FHA Mortgages

In my previous post about why home sellers need to shy away from buyers who have an "approval' for an FHA mortgage, I was concerned that home owners would be saddled with tons of unanticipated expenses that could seriously reduce their net proceeds. You see, when an FHA … [Read more...]

Beware The FHA Mortgage

  Back in the olden days, you needed to save a lot of money in order to buy a house. 20% was the normal number plus closing costs. Depending on the sales price of the house, it could really add up. Of course, the buyer moved into the house with a ton of equity not only in … [Read more...]

The FHA Appraisal

They're baaaaaaack! FHA mortgages are seen to be a boon to the moderate-to-low income home buyer. The credit score requirements are lower than conventional mortgages and other factors such as the debt-to-income ratio are more flexible.  It also has a very low down payment … [Read more...]

A Fixed “Rate” Does Not Mean Fixed “Payment”

Several years ago, I had a buyer client who eventually bought a house in Laurel, MD. They were nice people and this home was going to be the first one they bought. In the real estate business we call these types of clients...are you ready? ... first-time home buyers.  Catchy, … [Read more...]

College Park, MD Housing Market Still Suffering

It's kind of amazing, in a way.  No matter how much time goes by, "the market" never seems to pick up much speed.  Home prices are down, mortgage interest rates are waaaaaay down.  You would think that this would be the time to buy, buy, buy and, conversely, time to sell, sell, … [Read more...]