Farmers' Market at North Beach

One of my favorite parts of summer is going to the Farmers' Market on Friday nights at North Beach, MD.  There's food, drinks, music, classic cars, beautiful views, and we always run into friends.  Definitely need to check it out if you haven't been there already.  They're open until October 6 from 6-9pm.

 

Helping Kids In Need in Calvert

My office, EXIT 1 Stop Realty is doing a drive to collect school supplies for students in need in our county.  I collected donations from the Apple Greene Subdivision in Dunkirk and was so proud of how many items I collected.  It was great to also have my children help me in the collection process and see the good they can do too.  I've been fortunate enough to have residents of the county all me to help them buy and sell their homes and I was happy to give back.  If you'd like to drop off donations our office is collecting supplies until August 31:  You can drop them off Monday-Friday 9am-5pm to 10130 Southern Md Blvd. Dunkirk, MD

The Pier Restaurant

The Pier Restaurant in Solomons, MD is the perfect place for lunch on the Patuxent River.  They have delicious crab cakes and a 360 degree view of the water.  Enjoy delicious food and watch the sailboats pass-by.

SMAR Awards 2016

I was so excited to win a Bronze Award for Individual Residential Sales Volume from the Southern MD Association of Realtors for 2016.  I worked with the best clients, both buyers and sellers, and look forward to continuing into a great 2017.

Potential Car Dealership in Dunkirk

There is talk about a small car dealership that may be approved to be built on Penwick Lane in Dunkirk.  Currently, it wouldn't be allowed under the present zoning but could obtain a special exemption.  The DACCA Board is looking for feedback from the community.  Make sure if you live in Dunkirk and have an opinion about, that you reach out to DACCA and voice your opinion.  In addition, there will be a public hearing at the The Calvert County Board of Appeals on Thursday January 5th.

DACCA Meeting

    Last week the Dunkirk Area Concerned Citizens Association (DACCA) met to discuss recent developments that impact the area.  First, law enforcement from the Calvert County sheriff's office came in to do some active shooter training.  The training was informative and gave good advice about what to do in various scenarios.
    Following the law enforcement presentation, County Commissioner Evan Slaughenhoupt, spoke about a variety of issues of concern.  His first talking point was in regards to the historic Flag Barn that is located along Route 4 in Owings.  The land that the barn currently sits on is in the process of being developed for commercial use, so the barn needs to go.  As the barn is an important landmark in the county, local artist Terry Quinn, has offered to raise money to have the barn moved to property that has been donated to the county so the barn can have a new home along Route 4.  If you would like to help in this endeavor to save a Calvert landmark you may go to http://www.rt4barn.com/
    Next on the agenda was an update to the Ward Road park that is in development.  The park will be located on 200 acres and will include trails, a dog park, and a variety of ball fields.  The project will be completed in phases and the first phase will include roads, bathroom facilities, and the trails.  The Commissioner said this portion of the project would be finished in a few years.
    Then there was an explanation of the communications towers that would be built in the county.  The Commissioner explained that these towers are a matter of public safety and need to be installed to assist law enforcement making calls.  He explained that there are currently areas of the county that when the police need backup assistance they simply don't have radio contact because of a lack of communications towers, which is unacceptable.  The additional benefit of these towers is they will be county owned and will generate income for the county.
    Finally, he discussed the tax increase to county residents.  He explained that the county has been struggling to make ends meet since the Great Recession occurred in 2008.  At the time of the recession the county had a surplus of funds to draw from previous years but these funds are dwindling.  In addition to the still sluggish economy, the state has taken away nearly 10 million dollars in funding during those years and the county has to make up for the cuts to the budget.  The last time taxes were raised was in 1992 and in order to continue to provide the services our citizens need the taxes had to be raised.

Down Payment Assistance Programs

Now is a great time to buy a home.  Interest rates are low and depending on your debt-to-income ratio, your credit score, and other earning and buying criteria, you can get 3-4.5% down payment help.  When you are looking to buy a home it's so important to explore your options to find the loan that best fits you.

Below are the bullet points on a Down Payment Assistance Program sent to me by Brandon Trippett at Movement Mortgage:

·         30 year FHA fixed rate loan combined with a non-repayable grant/gift for Down Payment Assistance (DPA) of either 3% or 4.5% of the first lien note amount depending on interest rate option selected.

·         Assistance can be used to cover down payment, closing costs, and/or prepaid items.  No portion of Assistance grant can be paid to borrower – however applicant can be reimbursed for their documented Earnest Money Deposit (EMD) contribution at closing.   Any excess funds should be handled as reduction to loan amount.   

·         Purchase loans only

·         All applicants have a credit score of 660 or higher based on a credit report obtained within the past 27 days

·         DTI ratio in PCL is 43% or less

·         Purchase transaction for primary residence

·         There are not any previously approved DAP programs that can be combined with an in-house Movement Mortgage first lien product available to meet the down payment and/or closing cost assistance needs of the customer. 

Preliminary Rates

NHF Sapphire rates generally are not volatile, with rates observed to remain at  the same level for extended period of times.  Following are preliminary rates as of date of publication of this Guide for Sapphire loans: Grant % Interest Rate 3% 3.50% 4.5% 4.00% Sapphire rates are subject to change.

·         Loans under this program CANNOT be locked until after Final Approval is received and loan is in “Clear To Close” status.

·         Maximum rate lock period available to projected closing date is 30 days.    Do NOT lock loan too early in process given limited opportunities for modifications to existing locks & cancellation fees.

·         Expectations for turnaround times are not to exceed 21 days from submission. 

Acceptable Property Types	New or Existing Construction homes with following property types: ·         Single Family Detached or Semi-Detached ·         Townhomes ·         Condos (projects must be acceptable to FHA and LHFS) ·         2-4 unit properties
Ineligible Property Types	·         Co-Ops ·         Manufactured Homes ·         Properties Requiring Rehab / 203k loans ·         Properties Requiring Escrow Holdback¹ ¹ Movement Mortgage overlay
Occupancy	·         Primary residences only
Purpose	·         Purchase transactions only
Home Inspection	·         Not required under program.
BORROWER REQUIREMENTS
Eligible Homebuyers		·         Both First Time Homebuyers (FTHB) and Non-First Time Homebuyers (NFTHB) are eligible
Home Buyer Education		·         At least one borrower must complete the MGIC Homebuyers Education course
Income Limits		·         Income limit evaluated based on 1003 Credit Qualifying Income ·         Income Limit of 115% of Area Median Income (AMI) ·         Income Limit varies by County.
Co-Signers & Non-Occupant Co-Mortgagors		·         Co-signers and non-occupant co-mortgagors not permitted ·         All borrowers must occupy property as primary residence.
Minimum Credit Score		660¹ ¹Movement Mortgage overlay requires minimum 660 score on bond program loans including this broker-out bond product given reps & warrant risk on EPDs
Other Credit Items		·         Borrowers in multiple year repayment plans for federal or state taxes for the immediate 3 years prior to application date are not eligible unless debt paid in full prior to closing. ·         Payment plans for IRS obligations are not acceptable. ·         Paying off debt to qualify is not allowed ·         No outstanding collections, including repayment plan.  All outstanding collections must be paid in full. ·         No outstanding judgments, including repayment plan.  All outstanding judgments must be paid in full. ·         Chapter 13 bankruptcies must be fully discharged
Maximum DTI Ratio		·         43%¹ maximum DTI with AUS approval ¹Movement Mortgage overlay requires maximum 43% DTI on bond program loans including this broker-out bond product given rep & warrant risk on EPDs
Maximum Loan Amount		·         The lesser of $417,000 (not including UFMIP) or FHA maximum for county.
Ownership of Other Property		·         Borrowers may not own other residential properties at time of closing

Contact Brandon with questions: 

Office: 240-925-3489

      Cell: 240-925-9870