Mortgage insurance ( Assurance hypothecaire) Lorsque nous prenons une hypothèque et que le downpayment est inférieur à 20%, la banque nous demandera de souscrire une assurance hypothécaire ( mortgage insurance). L’assurance hypothécaire permet de couvrir les premiers 20% du crédit. Le payment de l’assurance hypothécaire varie en fonction du credit score, du downpayment et du… Continue Reading
As a first time home buyer, it can be a little frightening to engage into the buying process. Especially given the costs being presented ( Downpayment , closing costs…). Once might wonder how to find ressources to afford purchasing. MMP offers programs providing help to first time buyers as well as repeat buyers. However, this… Continue Reading
Souvent pour acheter une maison, on se pose beaucoup de questions. Les 2 programmes sujet de notre discussions, donnerons un peu plus de clarité. FHA Le FHA est pour les first time homebuyer ( les personnes qui achètent leur maison pour la premiere fois). Pour acheter une maison avec FHA, en theory, on peut acheter… Continue Reading
Homeready is designed to facilate the home buying process. It allows homebuyers to put as low as 3% down to obtain a mortgage compared to 3.5% for FHA. Unlike FHA, Homeready requires a credit score of 620 to be eligible. However, with a score of 680 or above, one might be able to benefit from… Continue Reading
Quand on fait une offre pour acheter une maison, l offre consiste des elements suivant: Prix D’achat, EMD, Contingencies ( conditions), Durée de la transaction, concession du vendeur et autre demandes de l ‘acheteur. Nous allons nous concentrer sur le EMD. LE EMD ( Earnest money deposit) peut etre vue comme la caution de l… Continue Reading
The definition of a first time home buyer can vary from state to state. In the state of Maryland and the district of Columbia, a first time home buyer is a person who hasn’t own a property for the past 3 years prior to purchasing another property. Purchasing a property in a targeted area qualifies… Continue Reading
Il est important de connaitre les critères pour louer un appartement a Washington DC, au Maryland ainsi qu’ en Virginie. Pour éviter toutes confusions, nous allons utiliser les critères accepter en general par la plus part des propriétaires ainsi que des agences immobilière. Pour le revenue annuel, il va falloir qu’il soit a peu près… Continue Reading
DOPA: the District Opportunity to Purchase Act. It has been designed to promote Rental housing affordability in DC. DOPA helps with affordability by helping maintain the current number of affordable rental housing in DC as well as increase it. DOPA applies to properties of 5 rental units and more with at least 25% of the… Continue Reading
A credit score plays a big and important role in purchasing a house. in Fact, the credit score will dictate the amount that one qualifies for as well as the interest rate and payments. A Good score will provide for a lower rate which could translate in lower payment and possibly higher approval amount. It… Continue Reading
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