What is your debt-to-income ratio? Don't know? Don’t care? Do you plan on buying a car and getting a loan to do so? Do you plan on buying a house? If the answer is yes, you should definitely care what your debt-to-income ratio is.
Why is your debt-to-income ratio an important factor when looking to borrow money?
Before a lender approves you for a loan, they calculate your debt-to-income ratio. This gives the lender an idea of your ability to pay your monthly debts and take on a new loan. L... [More]
Are you looking to purchase a home in Anne Arundel County, but short on funds for a down payment or closing costs? 1st Mariner Bank offers a program called, “The Mortgage Assistance Program” (MAP) that can provide up to $20,000 in assistance for the purchase of an owner occupied home anywhere in Anne Arundel County, including the city of Annapolis.
The maximum sales price allowed for an existing home is $242,000 while a new construction sales price limit is $295,000. These funds are ... [More]
Are you in the market to buy a home? If you're a first-time buyer looking to purchase a home in Baltimore City, but short on funds for down payment and closing costs or looking for a home within a particular price range, let 1st Mariner Bank show you the way. For qualified individuals, we can show you how the different grant and closing cost programs can provide you with the funds needed to make your transaction complete. Here are a few of those programs:
Buying into Baltimore
This trolley tour ... [More]