Real Estate Report: The National Flood Insurance Program (NFIP) sends a summary of coverage document to homeowners who carry flood insurance. This document provides basic information on flood policies, their coverage and explanation on flood insurance as a whole. There are two types of flood insurance coverage: 1.Building Property, up to $250,000, and 2.Personal Property (Contents), up to $100,000 Un ..
Real Estate Report: The National Association of Realtors® has selected eight organizations for the 2018 REach® Class, a growth technology accelerator program helping launch companies into the real estate, financial services, banking, home services and insurance industries. The REach program, via Second Century Ventures (the strategic investment arm of NAR) provides early-to mid-stage companies with access to NAR’s industry ex ..
Real Estate Article: A new down payment assistance program for FHA loans is available, and it’s called the FHA Advantage program. This down payment assistance comes by way of a completely forgivable grant equaling 2% of the purchase price of a home, which makes the total downpayment needed from the FHA borrower just 1.5%. There are three ways that a borrower can be eligible for the program. 1.First time Homebuyer 2.Current, reti ..
Real Estate Article: Maryland REALTORS recently released a brief report on 2018 Maryland legislation key issues affecting the real estate industry. REALTORS throughout the state provide advocacy and participation through legislative Calls for Action during the annual sessions. A sampling of the outcomes from the 2018 legislative session is listed below, and a more complete list can be viewed online at www.mdrealtor.org (http://www.md ..
Real Estate Report: Homebuyers may be eligible to receive up to $5000.00 in closing cost assistance through Bank of America’s Home Grant program. These funds can be used to help with nonrecurring closing costs such as title insurance and recording fees. Qualifications to receive this grant funding depend on income and the location of the home. This program is offered by Bank of America to help make home buying more affordable fo ..
Real Estate Report: Realtor Education and Ethics Requirements Have you ever wondered what qualifications your REALTOR® encompasses? To be a licensed REALTOR®, there is a detailed list of requirements, not only to obtain your license initially, but also to maintain your license with ongoing continuing education. To initially obtain a license from the state of Maryland, REALTORS® are required to complete a course of instruction i ..
Real Estate Report: The majority of buyers search online when looking for homes, in fact 95% of homebuyers use online websites, and 72% use a mobile or tablet app to assist in their home search, based on data from the National Association of Realtors Real Estate in the Digital Age 2017 report. With this in mind, it’s as important as ever to have high quality, professional looking photos. The first few photos that are inc ..
Real Estate Report: With the Federal Reserve raising interest rates last week by a quarter of a percentage point and signaling that the central bank is on track to raise rates twice more in 2018—homebuyers should pay close attention to interest rates and how it will affect their purchase power. Mortgage rates are at the highest levels that we’ve seen over the past 4 years, and while some buyers will not be affected ..
Real Estate Report: CMA vs. Appraisal To clear up any confusion, there is a definite difference between a Comparative Market Analysis (CMA) and an appraisal. Basically, they are two different levels of reports in determining value for a piece of property. The first report, a CMA, is usually completed by a licensed Realtor®, and is less comprehensive than a full-fledged appraisal. This report is used by Realtors® to provide buyers ..
Real Estate Report: In addition to low money down loans, such as FHA (3.5% down loan) and the USDA (100% financing loan), buyers can look to the state of Maryland, which offers many products to help homebuyers within the state achieve their dream of homeownership. The Maryland Mortgage Program (MMP) offers a range of programs that make purchasing and owning a home more affordable. There are three types of 30-year, f ..
- LWB Real Estate Report: Flood Insurance Facts
- LWB Real Estate Report: Reach Award
- LWB Real Estate Report: FHA 1.5%
- LWB Real Estate Report: Legislation Wrap Up
- LWB Real Estate Report: Bank of America's Grant
- LWB Real Estate Report: Realtor Ethics
- LWB Real Estate Report: Photos Sell
- LWB Real Estate Report: Rate Increases
- LWB Real Estate Report: CMA vs. Appraisal
- LWB Real Estate Report: MMP 2018 Options
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