Carleton - Mortgage

Eddies was a life saver in that area. Looking forward to this reopening.

New owners plan to reopen Eddie’s of Mount Vernon this summer The midtown staple had been the neighborhood’s only grocer for years, garnering a special reputations in the community as an intimate family-operated business before it closed abruptly last June.

Neighborhood Program Team Leader Healthy Neighborhoods, Inc. is now hiring for the position of Neighborhood Program Team Leader in Baltimore. Apply today.

Join Us!

Live Baltimore Trolley Tour: Spring 2023 Join Live Baltimore for a comprehensive introduction to homebuying in Baltimore City!

DHCD's Housing Rehab Program Helps Homeowners Stay in Their Home

The Prince George's County Housing Rehabilitation Assistance Program (HRAP) provides zero percent (0%) home improvement loans up to $60,000 to eligible homeowners who need to make repairs on their homes. The Department of Housing and Community Development (DHCD) provides the financing, and DHCD’s community partner, Housing Initiative Partnership (HIP) administers and implements the program.

Homeowners who have housing code violations or are living in an unsafe and/or unhealthy environment, use HRAP to bring their house up to code, install weatherization, make ADA improvements, repair major home systems and more.

Homeowners are not responsible for making monthly loan payments as the payments are deferred, and the principal loan amount is repaid in full when the property is sold or transferred.
Eligible repairs include:
• Health Hazards: Lead, mold and asbestos abatement
• Safety and Code Compliance: roof, electrical systems, plumbing, flooring
• Energy Efficiency: Windows, insulation, air sealing, siding
• ADA Related Improvements: Ramps, grab bars, railings
• Other improvements are considered

Hyattsville homeowner Sherry Kilgore used HRAP and had a new kitchen installed, lead abatement, renovated the bathroom, removed a wall and opened up the dining area and kitchen, painted the living room and had a partial driveway poured. “I am very satisfied with the work completed,” says Ms. Kilgore. “The renovations took two months and the general contractor and I worked well together.”
Eligible applicants must own and occupy their home in Prince George’s County and be current on mortgage payments, property taxes and insurance. Homeowners cannot have an “underwater” mortgage and the maximum loan to value ratio cannot exceed 110%. There are income guidelines associated with utilizing this program.

DHCD An official website of the State of Maryland.

Rates are increasing, luckily so are the incentives available for eligible buyers. Live Baltimore is a great starting point for your Homebuying journey.
https://livebaltimore.com/buy/affording-a-home/down-payment-closing-costs/

BALTIMORE HOMEOWNERS! The City is offering an Emergency Mortgage & Housing Assistance Program for homeowners facing a crisis due to the pandemic. 's Administration has designated $3M to support this effort. Learn more and apply at http://ow.ly/chrV50ILQ65.

Summer is around the corner and it is the perfect time to upgrade your home. With a Rapid Rehab Loan, you can qualify for up to $20,000 for your home's next improvements. Funds are available within 30 days. ⁠
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$7500 Baltimore Regional Neighborhood Initiative Grants may be available for First Time Buyers in certain neighborhoods!
Check with GO Northwest for deets!

Go Northwest HRC - Garwyn Oaks Northwest Housing Resource Center Garwyn Oaks Northwest Housing Resource Center

Winter Trolley Tour Is Coming!
https://www.eventbrite.com/e/live-baltimore-trolley-tour-winter-2022-tickets-204546974507

Live Baltimore Trolley Tour: Winter 2022 Join Live Baltimore for a comprehensive introduction to Baltimore City living at this in-person event!

Looking to refinance? Here's a primer on what you'll need, courtesy of Eastern Title & Settlement (www.easterntitle.com)

Six Essential Documents You Need to Refinance Your Mortgage

When it comes to refinancing your mortgage, preparation is vital. Refinancing can take anywhere up to two months if you’re lucky, while untied loose ends on your part in obtaining the information required, to your lender might make that period an even lengthier one. That’s why it’s essential to have all the correct documentation ready to help the process run smoother.
Your Refinance Documents Inventory

To be eligible for refinancing, you will need to do your part in providing specific documentation to be approved beforehand, varying on the type of loan you’ll be acquiring, the kind of lender you’re working with, as well as your financial situation.

Here are the most commonly requested documents you’ll typically be asked to present.

1.Salary statements
Before doing anything, lenders want to make sure that you are earning enough income to make the mortgage payments, typically asking you (or anyone else partner, spouse etc.) to procure salary statements for the past two or three months to prove your source of income.

If you are self-employed, it is generally expected for you to present copies of your previous copy of two federal income tax returns as well as profit-and-loss statements.

Get ahead of it now. Make copies as a precaution, and you’ll be ready to go.

2. W-2s, 1099s, and Tax Returns
Verifying past employment is also a vital part of the refinancing journey. Your lender will also ask for copies of your W-2s, tax records, and 1099s, typically with up to two years’ worth of information. These measures are done to calculate or predict any variations, if any, from year to year.

3. Insurance for Homeowners
To ensure that you have current and enough coverage on your house, you’ll need a copy of your homeowners’ insurance policy.
4. Statements of Assets
You may find the process drawing similarities to when you bought your first home, as you’ll be asked to produce proof of enough finance to cover closing fees by your lender. You should also expect to produce at least two months’ worth of mortgage payments, similar to when you bought your first house.

You’ll need to provide recent statements from the following people:
• Accounts for checking and savings
• Accounts for retirement
• Accounts for investments

5. Proof of Expenses
Your lender may want proof of debts or other expenses; you may have to double-check the status of your present mortgage by asking you to present a recent mortgage statement.
When applying for a refinance, it is essential to have new statements from all of these accounts at the ready.

6. Extra Documentations
Sometimes it’s best to expect the unexpected when it comes to refinancing. Depending on your financial situation or your potential lender’s requests, you may be asked to supply extra documentation, such as:
• Letters of explanation for previous credit problems or job gaps
• Documentation for child support or alimony payment
• Proof of rental revenue from assets you hold as an investment
• Gift letter or other paperwork proving deposit source
• Documentation on a discharged bankruptcy.

Join us virtually with Live Baltimore for a presentation on the Healthy Neighborhoods Purchase/Rehab, Refinance/Rehab, and Home Improvement 2nd Mortgage product suite! Registration required, Wednesday the 8th, 6:00 pm.

Virtual Six O'Clock Sessions: The Healthy Neighborhoods Program Join us to learn about the Healthy Neighborhoods Program.

Live Baltimore offering $100 for focus group participation. Eligibility criteria below.

Letters to the seller, viewed as a possible fair housing violation in some locales...

Some realtors say homeowners should stop writing 'love letters' to sellers, say practice is unfair While buyers would like to compliment a seller on their fenced-in yard for children to grow or a spacious living room for Christmas morning, those comments could present problems, according to the President of Ohio Realtors.

Great primer on how mortgage rates are set. This part is beyond anyone's control, but you want to make sure you are in position to get the best rate/terms/benefits available to you, regardless of the overall market environment. To do so, maximize your credit score, save for down-payment, and work with a reputable and transparent lender.

How are mortgage rates determined? Mortgage rates are complex. When you investigate them, you'll find an intricate and interconnected web of factors that go into what determines mortgage rates.

HUD renter resources
https://www.hud.gov/states/maryland/renting

Rental Help: Maryland | HUD.gov / U.S. Department of Housing and Urban Development (HUD) Subsidized Apartments HUD helps apartment owners offer reduced rents to low-income tenants. To apply, visit the management office of each apartment building that interests you.