1st time home buyer's
An agent works for you exclusively
We can assist you with locating your home of choice. All that we need is your area preference and property criteria.
We will negotiate on your behalf to obtain the best terms. Leave negotiating up to the market experts!
Bellvue will guide you every step of the way with contracts, signings and closings.
(Q) Whats the difference between a pre-qulification and a pre-approval?
(A) A pre-qualification is a determination that you can qualify for a home loan. A pre-approval is a determination from a financial institution that is willing to finance a home on your behalf. Motivated buyers begin their search once pre-approved.
(Q) What can I afford to spend on my first home?
(A) Bellvue can assist you with connecting to knowledgeable mortgage experts, who can properly assist you with determining whats in your budget to spend before your search begins.
(Q) Do I pay for my real estate agents fee?
(A) Your Real Estate Broker gets paid by the seller of your property of interest. Buyers typically do not pay any real estate commission.
(Q) Are there any additional expenses ad cost that I should expect at closing?
(A) Purchase -Property taxes are collected on a semi-annual basis.
-Each county has it's own fees for what it charges on a Maryland home purchase for state recordation and county transfer taxes at settlement.
-The state transfer tax is always the same.
-The buyer is exempt from the state transfer tax if they are a first-time homebuyer in the state of Maryland. It is typical to split all the transfer taxes 50/50 between buyer and seller. The buyer's half of the state transfer tax is waived if a 'first time buyer'.
Home Buying Glossary terms:
(Agent) - A person with a state/provincial license to represent a buyer or a seller in a real estate transaction in exchange for commission.
(Appraisal) - An expert judgement or estimate of the quality or value of Real Estate as of a given date.
(Broker) - A broker is an individual or firm that charges a fee or commission for executing buy and sell orders submitted by an investor. 2. The role of a firm when it acts as an agent for a customer and charges the customer a commission for its services.
(Deposit) - The amount of earnest money should be clearly stated, plus the amount of money you will be paying at settlement and your sources of financing. A common purchase deposit in many areas is 1-2% of the purchase price.
(Escrow) - Funds, property or other things of value left in trust to a third party. The escrow may be released upon the fulfillment of certain conditions or by agreement of the parties.
(Home Inspection) - Typically cost between $300-500 and can be included in your contract as a contingency.
(Market Value) - The highest price a ready, willing, and able buyer will pay, and the lowest a ready, willing, and able seller will accept.
(Principal) - Principal has three different definitions in real estate:
- A capital sum lent on interest.
- one who appoints an agent to act on their behalf.
- Either party to a contract.
(Settlement) - The conclusion of a real estate transaction where the deed is delivered, notes are signed, and funds are disbursed. Also called closing.
(Title) - A document that indicates rights of ownership and possession of a particular property.
Transfer Tax- State tax, local tax (where applicable), and tax stamps (in some areas) required by law when title passes from one owner to another.
Step - one
Contact Bellvue management who can connect you with reputable mortgage lenders who can determine and advise you with the amount you can afford to spend.
Step - two
Inform Bellvue of your budget and property criteria. When we recieve this info, we can better assist with locating a home that fits your preference.
Step - three
Once we find a property that fits your criteria, we will draft an offer to present to the seller and negotiate. If our offer is accepted, any conditions that are set should be made within the allocated time.
Step - Four
Before the actual closing date, the title company or brokerage will do their due dilligance to ensure the property title is free and clear of liens or debt.
Step - Five
At closing all signings are performed and you will receive the keys to your dream home.
View some of our most recent real estate deals ->
Latest Maryland Residential Lending Rates -
Maryland 30-year fixed mortgage rates go up to 3.82%
As of Thursday, May 4, 2017
The current average 30-year fixed mortgage rate in Maryland increased 2 basis points from 3.80% to 3.82%. State mortgage rates today ranged from the lowest rate of 3.73% (SC) to the highest rate of 3.88% (WV). Maryland mortgage rates today are 3 basis points higher than the national average rate of 3.79%.
The Maryland mortgage interest rate on May 4, 2017 is up 1 basis point from last week's average Maryland rate of 3.81%.
Additionally, the current average 15-year fixed mortgage rate in Maryland increased 5 basis points from 3.03% to 3.08% and the current average 5/1 ARM rate is up 9 basis points from 2.88% to 2.97%.
Real Estate Investing
Bellvue is more than ready to assist investor's with finding, assessing and acquiring Commercial & Residential Investment properties throughout the Maryland Real Estate Market. This includes working with an investor to determine their investment budget, property criteria, income goals and objectives. Once the budget and income goals are finalized, then Bellvue will search the (MLS) and also our exclusive network for available properties that will most likely fit the criteria of the investor. When a particular property of interest is located that fits the criteria of the investor, the localized market is reviewed to understand the achievable rental rates or (ARV) after repair value for sale. Finally, when a green light is received on a property, then we aggressively work with the investor to submit offer's on the property of interest in order to achieve property acquisition.
Partnering with Bellvue will provide you with the following:
Expert consulting from industry leading advisors.
Area market activity reports.
Zip Code canvasing for the highly motivated investor.
Private Lenders tailored for investors.
Access to most properties of interest.
Email listings of exclusive properties for sale.
We can run the numbers to see if the deal make sense. (NOI), (ROI), (ARV's)
Baltimore City & County listings.
Contractors and vendor staff for all matters that may arise.
Complete rehab implementation with superior modern or restoration finish.