Baltimore First Time Home Buyers: December 2014

Saturday, December 27, 2014

How Much Home Can I Afford? | Baltimore Real Estate

by Helene Kelbaugh of Keller Williams Legacy Metropolitan in Baltimore

Let's Chat! Buyers & Sellers: (443) 465-8443

How Much Home Can I Afford?

First, let me applaud you for thinking about this first! More often than not home buyers, especially first time home buyers, start off with looking at a million homes prior to talking to a REALTOR® to get preapproved by a trusted lender. Preapproval is when a Preferred Lender pulls your credit score, and collects income, savings and additional information to determine how much home you can afford. When you have this information up front, it is gives comfort to the home buying process. You know what you have to spend and what price range you should be shopping in.

For a quick FREE cheat sheet download on How Much Home You Can Afford click here for it!

What Do I Need For Financing?
Financing may seem overwhelming and confusing. If you are working with a REALTOR® and lender who have a great working relationship both will educate you as the buyer on the process from beginning to end. This process will change from clear as mud to clear as a bell! Depending upon the type of financing you will use for the home purchase and state, the basic documents a lender will require are:

W2's
Pay Stubs (several months per lender)
1099's (if applicable)
Tax Returns
Bank Account Statements

There may be additional forms needed for financing depending upon the type of financing and contract contingencies, for example a gift letter (for proof of funds from a relative) or VA documentation etc. Your lender will go over any additional forms that may be required for financing. These documents will help determine what dollar amount you will be preapproved for home purchase. These documents should back up the verbal income information that was given to the lender initially.

FREE Home Affordability Cheat Sheet

It is always a great idea to talk with a lender to drill down numbers that are specific to your and financing.

Should I Consider Anything Else?

Depending on the area you are buying your home, it is critical that you talk to your REALTOR® about additional fees or expenses that could go along with the house. For example:

Home Owner Associations
Condo Fees
Home Owners Insurance
*Flood Insurance
Taxes
Special Assessments

Most people are familiar with HOA's and Condo Fees. Did you know that 2 neighboring homes could have two different home owner insurance rates, even if it's the same carrier and comparable home. This can be based on so many different factors! Considering a waterfront home in Baltimore? Do your homework! Flood Insurance is a separate insurance required if the home is deemed waterfront. Review the FEMA website as well for additional information about flood insurance.

What's Next

Sunday, December 21, 2014

First Time Home Buyer Programs in Maryland | Baltimore Real Estate

by Helene Kelbaugh of Keller Williams Legacy Metropolitan in Baltimore

Let's Chat! Buyers & Sellers: (443) 465-8443

Programs? Tell me more!

There are lots of programs in Baltimore, Md and surrounding areas that are for First Time Home Buyers and move up buyers. Want to know what programs you many eligible for? Many of these programs have eligibility requirements. Requirements range anywhere from house location , income, required classes, employer driven and many other criteria. Just to name a few of the programs: DSELP, MMP, Live Near Your Work and many many more.

Am I eligible?

It's worth talking to a lender to get more information on these programs. Keep in mind that not all banks or lenders work with these grants and programs, especially smaller banks. Some of these programs only work with particular lenders to. Talk to your REALTOR about what lenders work with these programs. Chances are if your REALTOR is suggesting these programs, they most likely know of a lender who works with these programs and can help determine eligibility.

Free money or pay it back?

Another good lender question! Before taking advantage of these program, be sure you understand the 'terms and conditions' if you choose one of these programs. Some of the programs are grants that don't need to be paid back, others may need to be paid back or 'forgiven' once the home has been occupied for a certain number of years. There may be other criteria that go along with the various programs as well. Again please be sure you understand the 'terms and conditions' before taking advantage of these programs.

Next Steps

Make an appointment with me today. Let's discuss your goals for home ownership. We can also discuss if a First Time Home Buyer Program is right for you.

Access the Multiple List to find homes for sale today for FREE! Research the area you are interested in buying. Learn about the area by signing up for Market Reports for FREE!

Start Your Home Search

Call or email me anytime to discuss how this information can benefit you!

Provided courtesy of Helene Kelbaugh of

Keller Williams Legacy Metropolitan

Hire a positive and proactive REALTOR to help you!

Call or text 443-465-8443 for information on Buyer Representation (NO COST TO HOMEBUYERS)

Buy A Home * Free Home Valuation * Area Information

Download My App Now!

Follow Me Socially!!

www.HeleneSellsHomes.com

www.MobileAppHomeSearch.com

Helene Kelbaugh of

Keller Williams Legacy Metropolitan

443-465-8443 DIRECT | 410-342-4444 OFFICE

Friday, December 19, 2014

Getting Around in Baltimore | Baltimore Real Estate

by Helene Kelbaugh of Keller Williams Legacy Metropolitan in Baltimore

Let's Chat! Buyers & Sellers: (443) 465-8443

Getting around in Baltimore is easy. Whether you have a car, park and ride, bike it or your own two feet, getting around in Baltimore is pretty easy. There are lots of options for transportation. Light Rail, Marc Train, Commuter Bus, Zip Car, Charm City Circulator, Private Commuter Groups and many other options.

Here are a few tips and tricks to getting around in Baltimore.

ZipCar® is a quick and easy way to "Zip" about the city! With ZipCar® you can drive cars by the hour or by the day. Guess what, gas and insurance are included! You can take ZipCar® in neighborhoods, cities and even airports. The good news is you can save hundreds of thousands of dollars over car ownership. Don't worry, you won't be in a old disaster car. You can choose from sedans, vans even hybrids! There are are more options available as well. Think this will be a service you use all the time? You can purchase membership too!

Light Rail service is great because it's fast and a straight shot. You can park your car or you can take a bus to the light rail. The Light Rail provides daily service. The Light Rail daily service is: From 5:00 am to 12:00 am WEEKDAYS From 6:00 am to 12:00 am SATURDAYS From 11:00 am to 7:00 pm SUNDAYS.

Marc Train service is a commuter rail system. The commuter rail system includes Harford County, Baltimore City, Washington DC, Brunswick, MD, Frederick, MD and Martinsburg, West Virginia. MARC Train Service operates Monday through Friday only. Good news is weekend service is now available on the Penn Line only.

Commuter Bus is another option. For the Commuter Bus you will want to visit their site to map your route and choose the best Commuter Bus connections to get around. The site is easy to use and lets you customize your route. The MTA Commuter Bus Service connects thousands of Maryland residents in Baltimore and DC

Charm City Circulator is another great option to get around for *free in Baltimore City. Be sure to visit the Charm City Circulator site to ensure it's still free as there are talks of charging for riding, but take advantage of it now! They have about 30+- shuttles providing service in Baltimore City. Service areas include City Hall to Fells Point to Johns Hopkins (green route), Penn Station to Federal Hill (purple route), Hollins Market to Harbor East (orange route), Inner Harbor to Fort McHenry (banner route). Shuttles run about every 15 or so minutes. This is a great way to get around in Baltimore for free! Whether your are a commuter or going out for fun, it's worth riding!

*For all services, please check the website for changes and updates

Getting Around in Baltimore

Baltimore is a fun town. Plenty of work, world famous colleges & universities, tons of nightlife, great food and more. We are famous for our Crab Cakes, Beautiful Inner Harbor and quaint suburban communities as well.

Start Your Home Search

Next Steps

Call or email me anytime to discuss how this information can benefit you!

Provided courtesy of Helene Kelbaugh of

Keller Williams Legacy Metropolitan

Hire a positive and proactive REALTOR to help you!

Call or text 443-465-8443 for information on Buyer Representation (NO COST TO HOMEBUYERS)

Buy A Home * Free Home Valuation * Area Information

Download My App Now!

Follow Me Socially!!

www.HeleneSellsHomes.com

www.MobileAppHomeSearch.com

Helene Kelbaugh of

Keller Williams Legacy Metropolitan

443-465-8443 DIRECT | 410-342-4444 OFFICE

Thursday, December 11, 2014

Baltimore Local Utilities and Services | Baltimore Real Estate

by Helene Kelbaugh of Keller Williams Legacy Metropolitan in Baltimore

Welcome to Baltimore!

Whether you are just beginning your home search or have just closed on a home part of the process is getting your Baltimore Local Utilities and Service scheduled for installation and service. Today services like internet and television are a necessity versus the extra "perk" expense they used to be in years past. Stay connected and minimize your down time by scheduling your transfer or installation of services in sufficient time.

Tips for the best deal

1. Make a list of services you and your family will need. Sometimes there are different packages and promotions available. For example if you are a sports fan, you may want a package geared towards more sports channels vs movie promotions.

2. Many of the Cable providers may offer a "bundle" package that may on the surface appear to be cheaper, however keep asking about other bundles. For example if you don't have a house phone or a need for one due to having a cell phone, it may be better to get a package with fewer products bundled.

3. New customer? You may just be in luck! Whether you are switching services or brand new to all, you may be able to get a even sweeter deal for being a new customer. The deal could even trump the promotions. Keep asking questions! It's worth the wait and conversation with the Customer Service Rep.

4. If there are two in a household, you may even be able to put service in the other persons name to get even more savings.

5. Always check availability while searching for your home to be sure the provider your are going to use is in the area your are moving to. The good news is Cable providers are growing and in more areas. Also check with the Home Owners Associations and Condo Associations. They may or may not allow certain providers in the community. For example, a condo building association may not a Dish on the side of the building or they may allow a dish but not allow drilling inside. Always good to find this info out ahead of time.

And as always, especially during holiday time, watch for the commercials, and ads. In addition to the great pricing on packages these providers may be giving even more incentives to set up service. For example, I recently saw a promotional commercial where a new subscriber would receive a $400 gift card and another commercial for a brand new tablet! It pays to shop!