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8 Ideas for Down Payment and Closing Costs

CROFTON MD REAL ESTATE Q & A

Q.  How can I take advantage of today’s great interest rates and home prices to buy a home in the Crofton area, when I can’t sell my current home in Northern Virginia?

A.  If your housing needs have changed, welcome to the club. That’s a perfectly normal situation that has motivated home sellers and buyers for decades.

P8060074In today’s market, it’s not always easy (or even possible) to sell one residence and use the equity to purchase another. That doesn’t necessarily mean you’re trapped forever in a home that no longer fits your shrinking or growing household… not if you can rent that home for enough to cover your monthly mortgage payment. 

Have you considered these other options for your down payment and closing costs?

Don’t assume you can’t get a Conventional loan with minimal down payment.  95% loans are making a comeback in the marketplace, and some well-qualified buyers are taking advantage of them to avoid the high FHA insurance.

If your housing needs have changed, you aren’t necessarily trapped in your current home by today’s struggling real estate market.  This may be perfect timing for you to make a move.

Not certain this is the right time to buy or sell a home? I’ve helped thousands of Maryland home buyers and sellers, and I’d be glad to share my experience with you.  Contact me today or click on the computer icon to search for homes at your own pace and convenience.  No cost or obligation to you.

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