Buyers of Laurel real estate can now use the government’s tax credit for the down payment on their home.
If you remember, the government offered this additional incentive if the buyers put down the minimum down payment. However, most first time home buyers in Maryland did not have that kind of cash available.
Then the government offered to let Maryland buyers use the tax credit for the entire down payment if need be. However, no bank was willing to front a buyer that money without some sort of guarantee they would get it back.
Now the Federal governmant has worked out this issue with banks. The result is that more first time home buyers are eligible to purchase Maryland real estate.
Not all lenders understand this or are unable to front the money for the first time buyer or Laurel real estate.
I do have access to a lender who is able to use this program for my Maryland buyers.