This Month in Real Estate July 2010 is here!

May’s sales across the United States were down 2.2% from April, but May closings were up 19.2% from May 2009. I am certain much of this is due to the extended homebuyer tax credit and buyers working to ensure they close long before the settlement deadline of June 30.

Though the tax credit is gone, interest rates are low, and housing prices are also low. Buyers can take advantage of these lows and possibly use an FHA to buy a home — and some may be eligible to have most of their closing costs paid for by the seller if they are able, or have some of their costs rolled into the loan, so those lucky buyers may only need about 3.5% (the downpayment minimum) out of pocket to get into a new home.

There are other FHA loans available as well, including some to get your home more energy efficient, FHA203K rehab loans to rebuild a fixer upper, and other FHA loan programs to assist in better homeownership.

For more information about Baltimore FHA home financing, please contact me today.