Home mortgage rates
Thanks to Mark Hines of Fidelity Bank for this episode of Tips from the Pros about mortgages.
As most of you know FHLB (Federal Home Loan Bank) grant program ran out of funds in early October. The date funds will be available again for us to use is January 14, 2019. Fidelity Bank Mortgage again has $1,000,000 to use for its borrowers/buyers. Currently Baltimore County SELP still has funds and certainly MMP or the Maryland Mortgage Program.
More buyers are electing to build a new home as the inventory of existing homes is low. Fidelity Bank offers a 1 time close construction loan as well as the HomeStyle and FHA 203k renovation loans.
We are seeing less seller help on contracts and usually multiple offers resulting in a big win for sellers.
As always feel free to u...
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