Hoc robert qawar
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Hoc robert qawar Hoc robert qawar Presentation Transcript

  • Maryland First Time HomeBuyers
    Down Payment Assistance
    MONTGOMERY COUNTY
  • HOC
    Are you a 1st Time Home-buyer?
  • HOC
    Do you need money for Down Payment?
  • HOC
    HOC may be the answer you have been looking for
  • HOC
    For 1st Time Home-Buyers
  • HOC
    For 1st Time Home-Buyers
    Working in Montgomery County
  • HOC
    For 1st Time Home-Buyers
    Working in Montgomery County
    Buying in Montgomery County
  • HOC
    For 1st Time Home-Buyers
    Working in Montgomery County
    Buying in Montgomery County
    Meets Income Limits
  • HOC
    For 1st Time Home-Buyers
    Working in Montgomery County
    Buying in Montgomery County
    Meets Income Limits
    Meets Loan Amount Limits
  • HOC
    This Financing is called:
  • HOC
    This Financing is called:
    Revolving Closing Costs Assistance Program
  • HOC
    It’s a loan up to
    5%
    of the Purchase Price
    or $10,000
  • HOC
    Can be used for
  • HOC
    Can be used for
    Down Payment
  • HOC
    Can be used for
    Down Payment
    And
    Closing Costs
  • HOC
    Must be used with an
    FHA LOAN
  • HOC
    How it Works:
  • HOC
    How it Works:
    FHA Financing is used for the purchase
  • HOC
    How it Works:
    FHA Financing is used for the purchase
    FHA Requires 3.5% for the Down Payment
    Reference FHA Down Payment at a glance click here
  • HOC
    How it Works:
    FHA Financing is used for the purchase
    FHA Requires 3.5% for the Down Payment
    HOC’s program finances the Down Payment
  • HOC
    Example:
  • HOC
    Example:
    Purchase Price:
  • HOC
    Example:
    Purchase Price:
    $200,000
  • HOC
    Example:
    Purchase Price:
    $200,000
    Down Payment
  • HOC
    Example:
    Purchase Price:
    $200,000
    Down Payment
    Reference FHA Down Payment at a glance click here
    $7,000
  • HOC
    Example:
    Purchase Price:
    $200,000
    Down Payment
    Reference FHA Down Payment at a glance click here
    $7,000
    HOC’s program
    $10,000
  • HOC
    Example:
    Purchase Price:
    $200,000
    Down Payment
    $7,000
    HOC’s program
    $10,000
    $7,000 for Down Payment
  • HOC
    Example:
    Purchase Price:
    $200,000
    Down Payment
    $7,000
    HOC’s program
    $10,000
    $7,000 for Down Payment
    $3,000
    For Closing Costs
  • HOC
    Example:
    HOC’s program
    $10,000
    $7,000 for Down Payment
    $3,000
    For Closing Costs
  • HOC
    Example:
    Do you mean that I can split the money between closing costs and down payment?
    HOC’s program
    $10,000
    $7,000 for Down Payment
    $3,000
    For Closing Costs
  • HOC
    Example:
    Do you mean that I can split the money between closing costs and down payment? YES
    What if I only want to borrow enough for down payment. Can I do that?
    HOC’s program
    $10,000
    $7,000 for Down Payment
    $3,000
    For Closing Costs
  • HOC
    Example:
    Do you mean that I can split the money between closing costs and down payment? YES
    What if I only want to borrow enough for down payment. Can I do that? YES
    HOC’s program
    $10,000
    $7,000 for Down Payment
    $3,000
    For Closing Costs
  • HOC
    The Terms of the Loan
  • HOC
    The Terms of the Loan
    *Interest Rate is 5%
    5.0 APR
    * As posted on HOC’s website 6/25/09. subject to change without notice. Call Mario for current details cell 240 353 - 5102
  • HOC
    The Terms of the Loan
    *Interest Rate is 5%
    5.0 APR
    It’s a 10 year loan
    * As posted on HOC’s website 6/25/09. subject to change without notice. Call Mario for current details cell 240 353 - 5102
  • HOC
    The Terms of the Loan
    *Interest Rate is 5%
    5.0 APR
    It’s a 10 year loan
    $10,000 loan amount = $106.07 payment
    * As posted on HOC’s website 6/25/09. subject to change without notice. Call Mario for current details cell 240 353 - 5102
  • HOC
    The Terms of the Loan
    Interest Rates on
    FHA’s program
    Are posted on HOC’S website
    (must Use Hoc’s rates and they also underwrite the FHA loan as well)
    www.Maryland-fha-loans.com
  • HOC
    INCOME LIMITS
    HOUSE HOLD SIZE
    One person: $86,268
    www.Maryland-fha-loans.com
  • HOC
    INCOME LIMITS
    HOUSE HOLD SIZE
    One person: $86,268
    Two Persons: $123,240
    www.Maryland-fha-loans.com
  • HOC
    INCOME LIMITS
    HOUSE HOLD SIZE
    One person: $86,268
    Two Persons: $123,240
    Three or more: $143,780
    www.Maryland-fha-loans.com
  • HOC
    Maximum Sales Price
    $429,619
    www.Maryland-fha-loans.com
  • HOC
    Important To Know
    www.Maryland-fha-loans.com
  • HOC
    Important To Know
    Your lender must be on HOC’S approved List
    www.Maryland-fha-loans.com
  • HOC
    Important To Know
    Your lender must be on HOC’S approved List
    You must receive a First Time home buyers certificate
    www.Maryland-fha-loans.com
  • HOC
    Important To Know
    Your lender must be on HOC’S approved List
    Like Mario
    You must receive a First Time home buyers certificate
    The flow….time frame to close an HOC loan is different, will need to write the contract to allow enough time.
    www.Maryland-fha-loans.com
  • HOC
    Important To Know
    Like Mario
    MONIES do RUN out From time to time you will need to be kept abreast
    www.Maryland-fha-loans.com
  • HOC
    Important To Know
    Like Mario
    MONIES do RUN out From time to time you will need to be kept abreast….follow Mario for up to date information on www.maryland-fha-loans.com
    www.Maryland-fha-loans.com
  • Your First Time Home Buyer Realtor
    HOC’S LINKS
    5 FOR 5 PROGRAM
    HOC’S Daily Rates
    Robert Qawar
    Realtor
    Cell 301 538 – 6302
    robq8119@hotmail.com
    Last updated 04/28/09 information subject to change , call for current details
  • Your First Time Home Buyer Realtor
    HOC’S LINKS
    5 FOR 5 PROGRAM
    HOC’S Daily Rates
    Robert Qawar
    Realtor
    Cell 301 538 – 6302
    robq8119@hotmail.com
    Last updated 04/28/09 information subject to change , call for current details