Howard County, Maryland
In December, 2009, Howard County Maryland bucked the trend in the area for loan financing types. Most other jurisdictions surrounding Howard County had more FHA loans used to purchase property than conventional loans. Howard County MD home purchasers used conventional loans 100 times compared to FHA loans 60 in December, 2009. Investors are still in the Howard County real estate market since 23 properties were paid for in cash.
The FHA has recently increased the upfront MIP required to 2.25%. This amount is built into the loan amount and paid off over the life of the loan.
Interest rates are still excellent for most borrowers with decent credit. Speak to your loan officer regarding rates, and the best type of loan for your individual circumstances.
Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com
Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist
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Rich Iarossi is a full time licensed REALTOR®, working in Crofton, MD. My coverage areas are: Anne Arundel, Prince George’s, Howard, Calvert, Queen Anne, and Baltimore City and County. I specialize in residential real estate, working with both buyers and sellers. Use the registration free search on my website at www.RichSellsHomes.com. If you’re not already working with a REALTOR®...I can help. Call me at 443-995-9595 (Cell) or 410-451-6255 (Office).
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That is bucking the trend as FHA is the strong contender in Prince Wiliam County. Let see if the future changes to the FHA lending guidelines change the landscape a bit.