Silicon Valley Bank Collapse and Baltimore Real Estate

March 20th, 2023

The Silicon Valley Bank collapse has many people worried, and some wonder if more collapse may happen, like Signature Bank, and Credit Suisse, how this may affect investing, real estate, mortgages, and other financial institutions. Please note: I am not a money professional and cannot give money, legal, tax or financial advice. Below, please find [...]

How Much of a Downpayment Do You Need to Buy a Home?

January 27th, 2023

How much of a downpayment do you need to buy a home? The long and short of it is that it depends on your situation, loan qualifications and loan type. That being said, according to a NerdWallet Home Buyer Report, 62% of Americans believe you need to put 20% down on a house. In reality? [...]

Should I Refinance My Mortgage in Towson

July 29th, 2020

Should I refinance my mortgage in Towson? With rates as low as they are right now (please note, the date of this post is in July 2020, and mortgage interest rates can change daily,)  many people who have mortgages at higher interest rates are considering whether they should refinance their mortgage. But should you? The [...]

Five Credit Mistakes to Avoid When Getting Ready to Buy a House

February 20th, 2019

There are, I am sure, more than five credit mistakes to avoid when buying a house, but this list is a good place to start. Thanks to HomeKeepr for the list to share. First Credit Mistake: Not knowing what is in your credit file. I have been very surprised (as have clients) when judgements or [...]

Mortgage Applications Up As Interest Rates Rise

January 26th, 2018

Mortgage applications are up both from last week and last year at this same time. There were 4.5% more mortgage applications submitted last week than the week before, and 6.1% higher than the same time last year. This is the highest level of new purchase mortgage applications since April 2010. CNBC has a great article [...]

FHA Cuts Annual Mortgage Insurance Premium *UPDATE 1/20/17 THIS HAS BEEN SUSPENDED*

January 10th, 2017

FHA cut the annual mortgage insurance premium from .85% down to .60%, it was announced yesterday. **UPDATE 1/20/17 PRESIDENT TRUMP'S ADMINISTRATION SUSPENDED THIS CUT INDEFINITELY, SO THIS WILL NOT TAKE EFFECT ON 1/27/17 AS WAS PLANNED.** The current U.S Housing and Urban Development Secretary Julian Castro said that this could save those getting FHA-insured loans closing [...]

Five Potential Threats to the Housing Market

February 2nd, 2015

Five Potential Threats to the Housing Market comes from a CNNMoney article about the 2015 real estate market. Though I hope to see some recovery in prices, there are some potential issues that could derail a hoped recovery. Here is the list from the CNNMoney article, with my take on each one: 1) Investors Cash Out. Meaning, [...]

What is a DTI and Is It Important?

January 22nd, 2015

What is a DTI and is it important? By: Dan Murtaugh, Vice President, Sandy Spring Mortgage If you are interested in purchasing a home, your debt-to-income ratio (DTI) is an important number for you to know. Your DTI measures how much debt you have compared to your overall income, so the lower the number, the [...]

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