Annapolis Md Homes and More

How to save thousands when you purchase a home

This is such a great reminder post written by a dear blogging friend. When purchasing a home think hard about your financing. You can save yourself thousands when you choose the financing that best suits your long term plans.

How to save thousands when you purchase a home

 

Obtaining the best price is not the only way to save a lot of money when purchasing a home. Selecting the best mortgage financing can save thousands of dollars when home buyers focus on the best options.

Mortgage interest rates are at the lowest levels for 2014 and all of the regular rates are attractive. However, if you can handle a 15 year mortgage rather than a 30 year mortgage, the savings are in the thousands of dollars and the obligations will end at an earlier date.

If you are only expecting to be in the area for five years or less, there are even more money saving options with adjustable rate mortgages. This is not rocket science. Don’t select the 30 year mortgage if other programs will satisfy your family needs.

 

Freddie Mac reports the following mortgage rate national averages for the week ending Aug. 21:

  • 30-year fixed-rate mortgages: averaged 4.10 percent, with an average 0.5 point, dropping from last week’s 4.12 percent. Last year at this time, 30-year rates averaged 4.58 percent.
  • 15-year fixed-rate mortgages: averaged 3.23 percent, with an average 0.6 point, dropping from last week’s 3.24 percent average. A year ago, 15-year rates averaged 3.60 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.95 percent, with an average 0.5 point, dropping from last week’s 2.97 percent average. Last year at this time, 5-year ARMs averaged 3.21 percent.
  • 1-year ARMs: averaged 2.38 percent, with an average 0.5 point, rising from last week’s 2.36 percent average. A year ago, 1-year ARMs averaged 2.67 percent.

Source: Freddie Mac

 

 Photo: Butterfly, Butterflies Live! Exhibit, Lewis Ginter Botanical Garden, IMG 0973

Butterfly, Butterflies Live! Exhibit, Lewis Ginter Botanical Garden, IMG 0973

Photograph by Roy Kelley

Roy and Dolores Kelley Photographs

Roy and Dolores Kelley Photographs

Roy Kelley, a real estate broker since 1960, has retired from his position as Associate Broker with RE/MAX Realty Group in Gaithersburg, Maryland. The needs of past clients and referrals will be met by long time associates. 



*****************************************************

About the Author Martha Brown- As a third generation Annapolitan I love to write about my experiences in and out of the real estate market. Licensed since 1992 all with Long & Foster I am a Certified Residential Specialist (CRS) and a Seller Representation Specialist (SRS) whose passion is homes in the Annapolis MD area and surrounding communities. My goal is to help my clients understand the real estate market and to then make sound real estate decisions. 

 

Martha can be reached  at 410-260-2800 ofc or 

martha@homesaroundannapolis.com.

When searching for Annapolis area homes for sale

there is no better place than

www.HomesAroundAnnapolis.com

 

Have a real estate question?? 

 Ask Martha

 

 
         Bringing 'Peace of Mind' since 1992                  
 
All Photographs and/or written material and content produced by Martha Brown. All Rights Reserved and may not be reproduced or reprinted without express written permission of

Martha Brown of Long & Foster Real Estate.

320 Sixth Street

Annapolis, MD 21403

410-260-2800 office

410-440-7839 cell/text  

L&F LOgo


 

 

Comment balloon 2 commentsMartha Brown • August 22 2014 05:50PM
How to save thousands when you purchase a home
share
This is such a great reminder post written by a dear blogging friend. When purchasing a home think hard about your financing. You can save yourself thousands when you choose the financing that best suits your long term plans. How to save thousands… more
Fun Facts About Annapolis… The Liberty Bell
share
Did you know Annapolis has their very own Liberty Bell? Well we do and it sits on St Johns College in Annapolis. Seems that back in the early 1950's a whole bunch of children throughout Anne Arundel County (that's the county Annapolis… more
The Best Way To Find An Annapolis Rental Is…
share
Yesterday I put a super cute country rental on the market with a sign on a prominent and busy road saying 'For Rent'. Needless to say the calls have been coming in fast and furious which is wonderful. No complaints. But what I find amazing is how… more
But That Means We Priced Too Low Right??
share
I am starting the thought process of selling my home and moving to a simpler lifestyle. 5 country acres with gardens is getting to be a bit much and a more simpler lifestyle is starting to seem like a good idea. There is a lot to go through and… more
Annapolis MD Rental in the Country Available 08/01/2014
share
Rentals do not get much better than this. 4 bedroom, 3 bath Colonial situated on a country acre overlooking farmland. Country kitchen, country sun room, country wood burning fireplace and even room for a country garden. Amazing opportunity that… more
A Visitor To My Garden
share
Living in the country always is full of surprises when it comes to what I see day to day. This peacock is just such a surprise. A visitor to my garden, he has been hanging around for the past month or so eating the dropped birdseed from the feeders… more
Cedar Ridge In The Eastport Part of Annapolis MD
share
I visited a hidden gem of a community and townhome today that just so happened to be held open by a great real estate friend of mine. She was having an open house and Pottery Barn was there decorating for the open. Wow how cool is that. Any way… more
1524 Ellsworth Is Open July 27 from 1 pm to 3 pm
share
Another one of Martha Brown's beautiful listings is open this weekend. This wonderfully updated Colonial is located in the highly sought after Crofton area of Anne Arundel County.. Perfectly situated in a cul-de-sac and sitting on the 6th tee of the… more
202 Pinewood Is Open July 27th from 1 pm to 4 pm
share
If you missed one of our previous opens you have another chance!! Agressively priced and pre inspected for your peace of mind this outstanding property gives you two, YES TWO, homes in one. Attached yet separate offers privacy to live a fabulous… more
I Would Love To Show You Those Homes I Said However…
share
Last weekend I held an open house that was quite active. One of the buyers to be took my card after asking if I knew the area very well. After 22 years in the business this area has been one of my stomping grounds for years so yes was my answer. &… more