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Hagerstown Home Purchase Loans
Low FHA Rates for Maryland New Home Financing

Hagerstown is the county seat of Washington County, Maryland and the sixth largest city. Greater Hagerstown is the fastest growing metropolitan area in the State of Maryland.

FHA has temporarily raised its loan limit to $377,500, which expires on December 31, 2008. And, as of October 1, 2008, FHA will no longer allow seller-funded down payment assistance. Now is the time to make your Maryland home purchase. The average new home price in Washington County in May was $207,000.00, so the FHA lending limit is plenty for FHA home buying in Hagerstown.

 

Hagerstown Home Buying with FHA Loans

FHA Hagerstown home purchase loans only require a 3% down payment. You canít get a house with 97 percent loan to value under conventional underwriting. FHA home buying in Hagerstown makes good financial sense. The minimum credit score for Hagerstown home financing is 580. You get low, fixed interest rates with FHA. Plus you can do a FHA streamline refinance if interest rates drop. Hagerstown home buying with FHA is the best way to go for those bruised credit.

Buying a Foreclosure home in Hagerstown

The Washington metropolitan area largely escaped the problems plaguing other parts of the country until late 2007, according to a report the George Mason University's Center for Regional Analysis for COG. The region, which includes the District and parts of Maryland, Virginia and West Virginia, now has one of the fastest-growing foreclosure rates in the country. Areas with higher levels of growth are more affordable and attract first-time homebuyers more likely to have a subprime loan, which often have higher interest rates, according to Gaithersburg-based Realtor Matt Rowland.

Now could be the time to buy a Hagerstown foreclosure. But, buying foreclosures is not easy. Recent Maryland legislation has increased the length of time it takes to foreclose on a property by quite a bit. Foreclosures are sold ďas-isĒ with no warranties. And, many times, you are not allowed access to the property to inspect it. Get professional assistance so you end up with the fewest surprises when you bid on the house at the auction.

Other Popular Maryland Cities for FHA Financing

Baltimore Home Purchase Loans
Towson Home Loan Rates
Bowie Home Financing Rates
Essex Home Purchase Loans
Hagerstown Home Loan Rates

Annapolis Home Financing
Columbia Home Purchase Loan
Frederick Home Loans
Gaithersburg Home Financing
Glen Burnie Home Purchase Loans
Reisterstown Home Financing Rates

 

 

15-Year FHA Rates | 30-Year FHA Rates | 5-Year ARM Rates
All FHA mortgage products are provided by FHA Home Loan Services, which may arrange loans with third party providers. FHA Home Loan Services is national mortgage lender. Not everyone will qualify for a government insured mortgage. FHA Home Loan Services cannot guarantee all loans will be made or whether all loan applications will be approved by the investing bank.
This is not a commitment for a FHA house loan or an advertisement for credit as defined by paragraph 226.24 of regulation Z.
©2008 FHA Home Loan Services - All Rights Reserved - Disclaimers