Buying Your First Home in Baltimore
By June Piper-Brandon, Creating Generational Wealth Through Homeownership
(Coldwell Banker Realty)
Buying Your First Home in BaltimoreI have a conversation with my son's girlfriend the other evening. They have been talking about moving in together. She currently pays about $1600 per month in rent. Both have good credit but they are cash poor and live paycheck to paycheck. I have been talking to my son about buying a home rather than paying rent. She expressed concern about where they would come up with their down payment. First off you don't need to have 20% of the purchase price as a down payment.We currently live in Catonsville right on the border of Baltimore County and Baltimore City. If they were to look at homes 2 blocks down the street from us they would be in Baltimore City.I recently wrote an offer on a really nice townhome priced at $178,500. The down payment on tha...
Comments
2