Fannie Mae Expands Access to Credit for Eligible Borrowers

Fannie Mae Expands Access to Credit for Eligible Borrowers

RISMEDIA, Thursday, July 28, 2016— Fannie Mae recently announced enhancements to HomeReady®, the affordable mortgage option designed to meet the diverse needs of today’s borrowers. HomeReady allows borrowers to provide as little as 3 percent down, and was the first affordable lending option to offer creditworthy borrowers the ability to qualify with income from non-borrower household members. HomeReady continues to evolve with enhancements that expand access to credit responsibly and promote successful homeownership.

New enhancements offer:

• Simplified income eligibility – Fannie Mae raised income limits to 100 percent of area median income in all areas, except low income market tracts that have no limit, making it easier for lenders to determine eligibility for HomeReady and helping more homebuyers take advantage of this affordable mortgage option. 

• More support for sustainable homeownership – In addition to the popular online course offered by Fannie Mae’s partner Framework, Fannie Mae will accept one-on-one pre-purchase advising from HUD-approved providers to meet HomeReady’s homeownership education requirement. In the coming months, Fannie Mae will offer lenders a $500 credit to encourage borrowers to take advantage of this new personalized support option. Together, these options will help more borrowers succeed in sustainable long-term homeownership with HomeReady.

• Market-driven features – More than 700 Fannie Mae lenders have already adopted the HomeReady mortgage, helping thousands of families become homeowners. HomeReady features continue to evolve to incorporate feedback from lenders, making it a simpler, more effective product for the affordable and underserved market. For a complete list of enhancements, see Selling Guide Announcement SEL-2016-06.

For more information on HomeReady, visitwww.fanniemae.com/singlefamily/homeready.

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This is Where the FUN STARTS! Things to do in OCMD

• Home » 
• Things To Do

THIS IS WHERE THE FUN STARTS.

Whether you're looking for a fun family vacation at the beach, 17 outstanding golf courses, world-famous sport fishing or a weekend getaway, Ocean City delivers everything you desire ASAP. See for yourself and try out one or all of our top ten must-dos while you are visiting Ocean City, MD. 

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LOCATION SPOTLIGHT

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  OC LIFE-SAVING STATION MUSEUM

  813 S. Atlantic Ave., Boardwalk at Inlet, Ocean City, MD, 21842

  Free summer programs Monday to Saturday, 10 a.m. July 5 to August 27. The best scenic lookout point on the Boardwalk! Great gift shop and more...

  READ MORE!

TOP 10+ THINGS YOU SHOULD DO WHEN YOU GET TO OC.

1) Hit the boardwalk.  At just under three miles, the Ocean City, Maryland boardwalk is a perfect family bike ride, an invigorating walk or run, or a relaxing tram ride. At night, the boardwalk comes to life with rides, arcades, performers and so much more.

2) Indulge in our culinary delights.  Ocean City restaurants serve up fresh seafood, boardwalk fries, Maryland crab cakes, hot, fresh pizza, juicy Delmarva fried chicken, sweet saltwater taffy and some of the finest dining in the Mid-Atlantic.

3) Catch the sun's ups and downs.  Sunsets are spectacular on the bay as the sun sinks down along the western side of the island. And a glorious sunrise on the Ocean City beach is worth getting up early for.

4) Go back in time.  Explore Ocean City, Maryland's colorful history at the Life-Saving Station Museum, or take a walking tour of our historic downtown area.

5) Check out Assateague's wild ponies.  The famous ponies are just nine miles from Ocean City, along with nature trails, deer, foxes and thousands of birds.

6) Do some serious shopping.  Hit our outlets, the boardwalk, Gold Coast Mall, boutiques or do some antiquing in nearby Snow Hill and Berlin.

7) Enjoy our nights of free family fun. In the summer there is a free family event almost every day of the week. Some of the events include: 

Sundaes in the Park with free concert, fireworks and ice cream for a small fee at Northside Park.
Concerts on the Beach every Wednesday evening.
Free Movies on the Beach Mondays, Wednesdays, and Fridays.
Family Beach Olympics on Tuesday evenings.
Sunset Park Party Nights every Thursday.
Laser Light Shows on Sundays.
Fireworks on Mondays and Tuesdays. 

Learn more about free family events and start planning your vacation. 

8) Explore the beauty of Northside Park. This 58-acre complex is Ocean City's largest and most popular park facility. Play your favorite sport on our softball, baseball or soccer fields. Or pack a lunch, grab your family and enjoy some quality time at one of our lovely picnic sites. Northside Park is also home to playgrounds, a gazebo and walking paths.

9) Fore! Ocean City is home to some of the most scenic andchallenging golf courses in the Mid-Atlantic region. Or if miniature golf is more your speed, you will find a number of fun courses in town.

10) Plan your return trip to Ocean City ASAP. There's so much to do, you'll never fit it all into one visit. So scope out what you'd like to try on your next Ocean City vacation, and make your reservations now!

What Would You Sacrifice to Buy A Home? Think about it ....

Saving To Buy A Home? What Would You Sacrifice? [INFOGRAPHIC]

by The KCM Crew on July 8, 2016 

Some Highlights:

• 95% of first-time homebuyers are willing to sacrifice to make homeownership a reality.
• The top thing that buyers sacrifice are new clothes at 54%.
• Even repeat or experienced buyers say they sacrificed taking a vacation or buying a new car to buy their last home.

Deciding If You Are Ready to Buy ...

Getting Started with your Maryland Home

Getting Started

Decide If You Are Ready To Buy

1. Do you plan to live in your new home for at least three to five years?                     Owning a home is a long term commitment, not a short term investment.
2. Financial preparation includes steady employment, a good credit score,                 cash for a down payment and/or closing costs, plus reserves. These are basic requirements to obtain a mortgage and provide a cushion to help with repairs           and maintenance.
3. Review your budget to determine how homeownership will affect your finances.     Think about monthly mortgage payment as well as taxes, utilities, HOA/condo           fees, maintenance, etc.
4. Know your credit history. Get a copy of your credit report (see “Financial and       Credit Education” for information about the three primary credit reporting agencies). Check for any errors in your credit history six to twelve monthsbefore you             apply for a loan. It takes time to make corrections to any errors you spot.
5. Determine your price range. Guideline: your total housing expense (mortgage   principal, interest, taxes, insurance and other fees) should not exceed 28-30 %           of your gross income. Save enough cash to make a minimum down payment,             as well as all or a portion of the closing costs.
6. Compile a home wish list. How many bedrooms or bathrooms do you need?               Is a particular school district important? Do you want access to public       transportation? Do you need a large yard? Be clear with your real estate               agent about your priorities for your perfect home.

 First Time Home Buyers

• Getting Started
• Working With A REALTOR®
• Find A REALTOR®
• Mortgage Programs
• Fair Housing
• FAQ's

Did You Know?

Your total housing expense (mortgage principal, interest, taxes, insurance and other fees) should not exceed 28-30 % of your gross income.

FROM:  

4 Good Reasons to Buy A Home This Summer - ... consider a Beach Home

4 Reasons to Buy This Summer!

by The KCM Crew on July 5, 2016

Summer is here! The temperature isn't the only thing heating up right now, so too is the housing market in many areas of the country! Here are four great reasons to consider buying a home today instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 5.9% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.3% over the next year. The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects home values to appreciate by more than 3.2% a year for the next 5 years.

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase 

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained around 4%. Most experts predict that they will begin to rise over the next 12 months. The Mortgage Bankers Association, Freddie Mac & theNational Association of Realtors are in unison, projecting that rates will be up almost a full percentage point by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home. 

3. Either Way You are Paying a Mortgage

As a paper from the Joint Center for Housing Studies at Harvard University explains:

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

4. It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

4th of July -- So many events and activities in OCMD and Coastal DE

JULY 4TH CONCERT & FIREWORKS ON THE BEACH

Enjoy a free concert at 8 p.m., followed by fireworks at 9:30 p.m. on the beach at N. Division Street.  Monday, July 4.  For more information, call 800-626-2326 or 410-250-0125.

Entertainment: The Reagan Years

July 4 `16

Delmarva Shorebirds v. Lakewood 
Minor League Baseball

Arthur W. Perdue Stadium

Come out and support our favorite Minor League Baseball team, the Delmarva Shorebirds, as they face off against Lakewood!  The stadium features great concession options and a play area for children!

 

General admission is just $8 per person.  Purchase tickets online or by calling 410-219-3112.

 

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July 4 `16

Aaron Howell at the Casino at Ocean Downs

Casino at Ocean Downs

Forming as a result of various jam sessions and guest appearances at Aaron's solo shows, The Aaron Howell Band has become one of the Ocean City area's top local draws.  Playing a more rock-heavy set, Bob and Adam lay down the rhythm while Aaron turns your head with his bluesy guitar leads, dynamic vocal work, and incredible stage presence.

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July 4 `16

Bethany Beach Independence Day Celebration

Downtown Bethany Beach

An old fashioned parade to celebrate our Independence Day complete with floats, bikes and marching bands.  Fireworks and entertainment will follow the 7:15 p.m. awards ceremony.  You may register your floats and bikes the day of the parade from 9 - 11:30 a.m. at the registration desks as follows:  Floats -  Route 1 and Central Avenue; Bikes - Christian Church grounds. 

 

The official Bethany Beach Parade T-shirts will be on sale from 9 a.m. to noon the day of the parade, at the Seaside Craft Show on June 4th, and at the bandstand during the summer concerts leading up to parade day.

 

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July 4 `16

Ocean Pines Freedom 5K 
Support the Military | Wear Red, White & Blue

Veteran's Memorial South Gate Pond

Join us for a patriotic start to July 4th! The day of family fun begins with the 4th Annual Ocean Pines Freedom 5K.   A portion of the proceeds with be donated to the Worcester County Veterans Memorial at Ocean Pines.   This family friendly race will go around the beautiful Veterans Memorial Park, cross Ocean Parkway and travel through The Parke Community, again cross Ocean Parkway and head past South Gate Pond to the finish line near the Memorial.  At the finish line, runners will see flags of each Military branch on the Veterans Memorial.  

 

Come out and support the military by wearing your red, white and blue on such a patriotic holiday! 

 

Race begins at 8am

 

After the race, stay for an afternoon of fun and games.  The Ocean Pines Recreation & Parks Department will host a day of fun at the Veterans Memorial site from 10am to 2pm.  Water slides, carnival games, face painting , a dunking booth and concessions are all part of this celebration.  

Fee: $25 (pre registration) or $35 day off

 

For more information call 410-641-7052

 

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July 4 `16

Sunrise Therapeautic Flow Yoga on the Beach

92nd Street Beach

Perfect for beginners/any level.  Breathe Stretch, Energize while watching the sun rise over the Atlantic.  

 

Mats & water are provided at no extra charge.

$16 or $30/couple

 

Please send me an email to kquinn@ecyoga.com or, if within 24 hrs please text 443-504-5135. Class size is limited, please make reservation early. 

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July 4 `16

Independence Day Program at Assateague State Park

Assateague Island State Park

Come celebrate Independence Day at the Assateague State Park Nature Center. Please check our weekly program brochure for more details. For more information call the Nature Center at (443) 397-0078.

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July 4 `16

Mindful Power/Core Yoga On the Beach

92nd Street Beach

Some yoga experience suggested but any level is welcome if in good physical condition, free from injury.  

 

Postures and visualization connecting mind/body to enhance power, stability, balance, and ease. Specific breathing techniques are used throughout movements to stimulate cardiovascular benefits/weight loss. Slightly faster pace and more challenging, yet basic postures designed to encourage muscular strength, increased blood flow and energy. Poses added to target core.  

 

Mats & water are provided at no extra charge.

$16 or $30/couple

 

Please send me an email to kquinn@ecyoga.com or, if within 24 hrs please text 443-504-5135. Class size is limited, please make reservation early. 

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July 4 `16

4th of July Celebration 
Rain Date July 5

Veterans Memorial Park

Enjoy this “All-American” day of fun where everyone is invited to a Summer Celebration! The day’s activities will include a DJ, water slides, carnival games, refreshments and more.

Pool admission is free for Ocean Pines swim members; all others pay the regular daily pool rate. The moon bounce is $6 for unlimited rides with a wristband. 

Tickets may be sold for additional games and rides. Rain date: Tuesday, July 5. 

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July 4 `16

Nate Clendenen at Coconuts

Coconuts Beach Bar & Grill

Nate Clendenen is a singer/songwriter/performer born in Philadelphia, PA and raised on the Eastern Shore of Maryland.  Imgaine Toots Hibbert and Peter Rowan in a smoky jam session. Think Ramblin' Jack Elliot if he had grown up at the beach. Clendenen's influences are widely eclectic from Reggae and world music to Appalachian folk - from 60s psychedelia to alternative country.  Nate seeks to put words to the random moments in life that one will always remember to record his thoughts as a soundtrack of his life to find those tiny things that often go unnoticed. This is the stuff of great art the melody of meaningful music.  Mike Breen of the Cincinatti Beach describes Clendenen as the "Van Morrison in the Appalachians... Newgrass colliding with the singer/songwriter genre."

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July 4 `16

Hot Dog Eating Contest at Fish Tales 
Anyone Can Enter

Fish Tales

Come join us as we cheer on competitors in a July 4th tradition of who can eat the most hot dogs.  

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July 4 `16

Dave Sherman at the Caribbean Pool Bar

Plim Plaza

Dave Sherman writes and performs original material but his specialty is Baby Boomer music. Primarily influenced by The Beatles, his musical tastes range from 60's R&B to Jazz Rock. He covers many Classic Rock pieces from the '60s, '70s, '80s with a little modern country thrown in and of course some Jimmy Buffett.

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July 4 `16

Kicking Sunrise Zero at Seacrets 
Beach Stage

Seacrets

Come hear Joe Murphy, Ryan Hornibrook, Matthew Bosco and Mark Altamuro; members of Kicking Sunrise at Seacrets on the Beach Stage.  These four talented men from Southern Jersey who got their start on YouTube will deliver upbeat summer vibes - you'll hear a little hip hop, rock and pop! 

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July 4 `16

Bob Wilkinson, Joe Smooth and Pete at Coconuts

Coconuts Beach Bar & Grill

Bob Wilkinson, Joe Smooth and Pete team up for a great musical endeavor!

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July 4 `16

Dave Hawkins at Harpoon Hanna's

Harpoon Hanna's

Dave Hawkins, an accomplished musician, has been playing music for what seems to be his entire life. Music is his passion and he is passionate about how it's perceived throughout his audience. He plays many guitars, harmonica, and fiddle and when you hear him you will think there is a whole band, not just one person. This is accomplished by what is known as looping.  There is never a "backing track" to play along with, which is used by some other players out there. His vocals and music will reach the deepest part of you while it sets your senses alive. He plays sounds from the current popular, to classic rock, to Dave Matthews, to his own original compositions as he touches on just about any genre you may desire.

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July 4 `16

West Ocean City's Only Deck Party

Micky Fins

West Ocean City's only deck party! Entertainment and great specials.

 

 

 

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July 4 `16

Animal House at Micky Fins

Micky Fins

Animal House have been rockin' the masses for well over 15 years now! Their musical chops cover everything from the 50's to present day! A crazy frat style rock and roll party not to be missed!

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July 4 `16

Monday Night Deck Party at Fager's

Fager's Island

Join us every Monday for Fager's Deck Party. Have a blast while drinking and dancing on the bay at the Famoun Fager's Island in Ocean City Maryland.

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July 4 `16

July 4th Downtown Celebration - Fireworks & Concert

Inlet Parking Lot

July 4th Concert & Fireworks on the Beach in Downtown Ocean City.

 

Free concert, the East Coast's Premier 80's Tribute; The Reagan Years begins at 8:00 pm, followed by fabulous fireworks at 9:30pm. Bring a chair or blanket and enjoy the evening beside the ocean on the beach at the inlet in downtown Ocean City. For information: 1-800-626-2326 or 410-250-0125.

 

 

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July 4 `16

July 4th Uptown Celebration - Fireworks & Concert 
Enjoy A Free Concert At 8pm

Northside Park, 125th St.

July 4th Concert and Fireworks Display at Northside Park

 

Free concert, featuring The Janitors begins at 8:00 pm, followed by fabulous fireworks at 9:30 pm. Bring a chair or blanket and enjoy the evening at Northside Park on 125th St. For information: 1-800-626-2326 or 410-250-0125.

 

 

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July 4 `16

Reggae Band Anthem at Seacrets Jamaica USA 
Beach Stage

Seacrets

A truly original sound that is creating a big wave throughout the USA, Anthem provides musical enchantment and diversity for lovers of all reggae, from roots to dancehall.

 

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July 4 `16 - July 9 `16

Princess Royale's Laugh Out Loud Comedy Club 
Headliner Johnny Watson

Princess Royale Hotel

Princess Royale's Laugh Out Loud Comedy Club invites you to come and enjoy a new line-up this year featuring top comics including Johnny Watson and Myke Green. 

 

Shows are Monday through Saturday nights at 9pm in the Palmetto Ballroom.  

 

Admission: 
$20 per person (includes 2 sodas) 

or
$25 per person (includes 2 cocktails) 

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July 4 `16

My Hero Zero at Seacrets 
Morley Hall

Seacrets

My Hero Zero has honed its captivating blend of showmanship, talent, and pop-savvy to become State College PA's most popular band. In addition to being seen by more than a thousand Penn Staters on a weekly basis, their busy travel schedule has them dropping jaws throughout the East Coast as well as netting accolades and endorsement from Jägermeister/Jägermusic.

 

Frontman Jason O runs the show with an infectiously interactive style that ensures you'll be singing along from the first chord to the last note. The way My Hero Zero reinvents songs with unique arrangements and mash-ups brings new life to current dance hits and old favorites alike. Four-part harmonies, grin-inducing choreography, surprising instrument-switches, and abundance of danceable tunes gives this band all the ingredients of an unforgettable night!