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4 Beds / 2 Baths
WONDERFUL RENTAL OPPORTUNITY IN GREENWICH FOREST...RENOVATED & READY TO MOVE-IN. BETHESDA MAGAZINE CALLED HAMPDEN LANE "ONE OF THE PRETTIEST STREETS IN BETHESDA"...
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BETHESDA Real Estate - Loan Programs

Which loan is right for me?
 BETHESDA Real Estate - Loan Programs

Years you plan to stay in the house Recommended program
1-3 3/1 ARM, 1 year ARM or 6 month ARM
3-5 5/1 ARM
5-7 7/1 ARM
7-10 10/1 ARM, 30 year fixed or 15 year fixed
10+ 30 year fixedor 15 year fixed
Loan Programs Advantages Disadvantages
Fixed Rate Mortgages
30 year fixed
15 year fixed
  • Monthly payments are fixed over the life of the loan
  • Interest rate does not change
  • Protected if rates go up
  • Can refinance if rates go down
  • Higher interest rate
  • Higher mortgage payments
  • Rate does not drop if interest rates improve
Adjustable Rate Mortgages
10/1 ARM
7/1 ARM
5/1 Arm
3/1 ARM
1 year ARM
6 month ARM
  • Lower initial monthly payment
  • Lower payment over a shorter period of time
  • Rates and payments may go down if rates improve
  • May qualify for higher loan amounts
  • More risk
  • Payments may change over time
  • Potential for high payments if rates go up
Balloon Mortgages
7 year
5 year
  • Lower initial monthly payment
  • Lower payment over a shorter period of time
  • Many balloon mortgages offer the option to convert to a new loan after the initial term.
  • Risk of rates being higher at the end of the initial fixed period
  • Risk of foreclosure if you cannot make balloon payment or if you cannot refinance or if you cannot exercise the conversion option
First Time Buyer Programs
  • Lower down payment
  • Easier to qualify
  • Sometimes you may get lower rates
  • May be subject to income and property value limitations
  • Some programs which have government subsidies may have a recapture tax if you sell the house too early.
Stated Income Programs
  • Don't need to verify income
  • Faster approval
  • Higher rates
  • Higher down payment
No point, No fee Programs
  • No closing costs
  • Less money required to close
  • Higher rates
  • Higher payments
Imperfect Credit Programs
  • Potential for reestablishing credit if you pay your mortgage on time.
  • When used for debt consolidation, you may be able to reduce your monthly debt payment
  • Higher rates
  • Terms may not be as favorable
  • Harder to get long term fixed loans
  • Loans may have prepayment penalties
Home Equity Line of Credit
  • You only borrow what you need
  • Pay interest only on what you borrow
  • Flexible access to funds
  • Interest may be tax deductible
  • Rates can change. The maximum interest rate is normally high.
  • Payments can change
  • Harder to refinance your first mortgage
Home Equity Fixed Loan
  • Fixed payments
  • Interest may be tax deductible
  • Higher interest rates than on 1st mortgages
  • Harder to refinance your first mortgage


Besides our standard loan programs, we also have a large number of unique programs
to serve your needs:
  • Purchase a house with 0 down
  • Piggyback loans 80-10-10 or 80-15-5. No PMI payments even with 5% or 10% down.
  • Debt consolidation programs
  • Home Improvement loans
  • Qualify even if you may have been turned down before!


   

 

 

 

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BETHESDA area real estate resources

BETHESDA area real estate events & news

  


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Your Open House - Public open houses may be more beneficial for the agents themselves than for the home sellers.
Marketing Info - Your broker's marketing efforts and considerations will include advertising, showing the property, how long the house has been on the market and whether you're buying another home.
Listing BETHESDA Real Estate - A listing agreement is a binding legal contract that shouldn't be taken lightly.
Selling My Property - The age-old observation that "you never get a second chance to make a first impression" certainly applies when it comes to attracting buyers to a for-sale home.
Getting BETHESDA Real Estate Ready - A house that "sparkles" on the surface will sell faster than its shabby neighbor, even though both are structurally well-maintained.
BETHESDA Real Estate List Price - Setting the list price for your home is an important first step to selling your home!
Housing Market Info - Here are some helpful definitions to help you follow the numbers.
Pricing Your Property - Pricing decisions should be grounded in reality rather than wishful thinking.
Property Appraisal - Property appraisal is a very important part of any new home purchase!
BETHESDA Real Estate Appraisal Info - Consumers tend to have some misconceptions about the appraisal process
More Tax Advice - Selling a home can have a major impact on your federal and state tax returns.
BETHESDA Real Estate BETHESDA Agent - A real estate agent can help you understand everything you need to know about the selling process.

BETHESDA Real Estate