REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY
JANUARY 2022
The bank will determine the down payment requirement, which is typically somewhere between 3 and 20 percent.
FHA loan A Federal Housing Administration loan is issued by an FHA-approved lender. These loans are designed for lowto-moderate-income borrowers, according to the financial guide Investopedia. FHA loans require lower minimum down payments and lower credit scores than many conventional loans. FHA loans also require mortage
insurance up front, plus annually for 11 years or the life of the loan depending on the length of the loan.
HELOC A Home Equity Line of Credit, commonly called a HELOC loan, borrows against the available equity in your home to create a line of credit, much like a credit card. These funds can be used for large expenses or to consolidate higher-interest rate debt on other loans, according to Bank of America. It may be possible to use a HELOC to secure funding to make improvements to a home for those who want to flip it as an investment property.
Private money lenders Individuals investing in real estate who do not intend to use a property as a primary residence may turn to private money lenders. These investors can tap into capital from personal connections and lend at specified interest rates and payback periods, according to Fortune Builders, a real estate investing resource. Keep in mind the interest rate will likely be higher with a private lender than through a conventional lender. The repayment term also will be shorter.
VA-backed loan
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The U.S. Department of Veterans Affairs has a program for acquiring loans through conventional lenders that will be partially guaranteed against loss through the VA. This enables a lender to give better loan terms, such as the option to pay no down payment. Interested parties need to qualify for a Certificate of Eligibility and then work with qualified lenders. People have several options to finance the purchase of a home. These loans can help make the dream of home ownership a reality. Potential buyers are urged to speak with mortgage professionals or financial planners to consider their options.
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Neighbors Serving Neighbors - One Home at a Time 410-208-9200 • 800-337-7368 • 11065 Cathell Road, Ocean Pines • 8202 Coastal Highway, Ocean City • 410-723-9450 Licensed in MD, DE
• www.hilemanrealestate.com • e-mail: hilemanre@aol.com NEW LISTING
NEW LISTING!
Lynette
Bridges-Catha CRS, PMN, GREEN, SRES Licensed in MD, DE
443-497-3128 Cell Smilin4shore@comcast.net
1 Bedroom, 1 Bath Condo with Ocean Views, Private Parking & Indoor Pool! Take the elevator right out to the Beach and Boardwalk - walk to entertainment, shopping, dining & more. Remodeling has been completed, including Bamboo flooring, Granite Counter tops, & new Stainless Steel Appliances. $329,900
Hileman OWNER/BROKER GRI & CRS ONE OF A KIND! 443-235-5982 Cell Debbie@Hileman RealEstate.com
Kevin D.
home with 3 BRs, 2.5 Baths on a quiet cul-de-sac street. Vinyl Plank flooring, crown molding, large covered rear deck overlooking the spacious backyard with private boat dock & storage shed. Granite Countertops, Stainless Steel upgraded appliances. Must see to appreciate!!
Heselbach Associate Broker GRI, RSPS
Licensed in MD & DE
301-501-2463 Cell kheselbachHRE @gmail.com
$469,000
BEAUTIFUL OCEANFRONT LIVING!
Debora E. Licensed in MD, DE
BEAUTIFULLY RENOVATED WATERFRONT
Rare opportunity to own a Riverfront Island Home on 3.6 Acres with private bridge access. Spacious 4 Bedroom, 4.5 Bath home with nearly 4000 sq.ft. Enter into an impressive 2 story Great Room with 6 skylights. Each Bedroom has its own bath. Natural Shoreline includes a private boat dock with boat lift & 2 jet $1,950,000 ski lifts.
2nd floor fully furnished 1BR/1.5BA condo. Open living/kitchen area offers great natural lighting, breakfast bar, updated stainless steel appliances, quartz countertops, and access to a private balcony w/breathtaking ocean views. Other features include LVP flooring throughout, and a stackable W/D. Hall bath comes w/shower/tub combo w/tile surround. Marigot Beach has great amenities such as an indoor pool, fitness center, and game room, as well as access to pool and fitness at the Clarion next door. W/only a short walk to the beach, and minutes from everything Ocean City has to offer! Schedule your tour today!
Terri
Bradford Associate Broker, GRI
Bethany
Drew
$395,500
Associate Broker, GRI
BREATHTAKING VIEWS
Tim
Ulrich Associate Broker 410-422-1441 Cell timrealestate9 @gmail.com
PERFECT OPPORTUNITY - DAGSBORO, DE
for an "In-Home" Business! Commercial Zoning with Direct access from Rt. 113 North. An addition offers a separate entrance into an office/studio, 4th bedroom, 2nd Bath, & laundry room. Bright living room, large kitchen, & dining/family room with wall to ceiling brick wood-burning fireplace. Plenty of parking on the paved drive. Concrete walkway, rear deck and $369,900 storage shed.
Greg
Nohe
Licensed in MD & DE
Brenda
Nohe
REALtOR
®
Licensed in MD & DE
410-493-3847 BrendaSG1944 @icloud.com
BEAUTIFUL WATERFRONT DEAL ISLAND
Large Loft, BR/2BA. Experience Island Living, Rare Navigable Waterfront w/180 Ft. Bulkhead. Breathtaking Sunrises and Sunsets! Main Floor has Open Floor Plan - Living Room, Kitchen, w/New Granite Counters! Upper-Level Loft has 2 Spacious Rooms w/Fabulous Water Views of Tangier Sound!! Watch Boaters Sail by from the Marina. Home has Laundry Room, Double Car Garage w/High Bay Doors to Store Extra Large Items! Public Boat Ramp Less than 5 Minutes! Bring Your Boat, Jet Skis, Kayaks, Canoes. Owner Has More Renovations to Complete and will Work with Buyers to Choose Some Renovations of Their Choice! All Negotiations thru Listing Agent. Don't Let This Pass You By!! $440,000
JUST MINUTES FROM OC!
Extra Large lot, sundeck, patio, & shed. Replaced in the past 2 years: Spare room addition, Roof, Flooring, Mini Split HVAC System, Water Heater, Blinds, Driveway with lots of parking, Microwave, Gas Stove, Front-Loading Washer/Dryer, SS Refrigerator, Bathroom with 5' shower. Most furniture conveys. Secure Gated Entry, Marina, Boat Ramp, Boat Storage, Large Swimming Pool & more! YOU OWN THE LAND, NO GROUND RENT! $199,000
Licensed in MD, DE
terri: 410-430-6875 Bethany: 410-430-2602 www.PO2team.com Powerof2@PO2team.com
Thank you to my clients & friends for your friendship and support this past year. I wish you all happiness and good will this holiday season and always.
REALtOR®
443-413-3077 Archangelnohe @gmail.com
3BR/2BA rare end unit condo, freshly painted throughout w/brand new carpet. Kitchen has a lg island with a breakfast bar. Open concept dining, kitchen, living room w/backdrop of the Tangier Sound. Primary bedroom features a lg master suite w/separate shower, soaking tub, and walk-in closet. Both the living room and the primary bedroom have lg patio doors that lead to the expansive balcony w/panoramic Bay views. Two additional bedrooms are bright w/windows and ample room for guests. Deep water boat slip #7 included in the sale (14' W x 34.37' L). So much to enjoy w/this unit by the bay!! See for yourself!! Call for your tour today! $269,500
Sonia
Zaffiris Associate Broker GRI, CRS
Licensed in MD, DE
410-251-6217 soniasez@aol.com
Cindy
Crockett REALtOR®, GRI Licensed in MD
410-430-0587 Cell Cindy@HilemanReal Estate.com
