First Time Homebuyers Program

Below is a partial list of First Time Home Buying Programs that are available through Exit Spivey. All programs are subject to deletion or change. To determine which programs you qualify for and what is currently available, please call us or fill out and email the form below.

  • American Dream Down Payment Initiative.  Receive up to $10,000 in closing assistance. Funding available in Baltimore City, Prince Georges and Montgomery Counties.
  • Baltimore City Employee Homeownership Program.  $3,000.00 in closing assistance for Baltimore City Employees.
  • Buy Into Baltimore Home Buying Fair.  $3,000.00 in closing assistance to the first 50 people who complete a tour of homes. The next tour is scheduled for Spring of 2009.
  • CDA Down Payment and Settlement Expense Loan Program (DSELP). $2,500.00 in an interest free / deferred payment loan.
  • Federal Home Loan Bank of Atlanta. The First-time Homebuyer Program (FHP) provides matching funds for down-payment and closing-cost assistance to low- and moderate-income homebuyers. Federal Home Loan Bank of Atlanta partners with member financial institutions to make FHP awards of up to $10,000 per household. The money is distributed to eligible homebuyers on a first-come, first-served basis.
  • House Keys 4 Employee / Smart Keys 4 Employees. Eligible borrowers can receive up to $10,000.00 in closing assistance.
  • Live Near Your Work.  Receive $2,000.00 in closing assistance when you work for an employer who participates in the LNYW Program.
  • Maryland Mortgage Program 2% and 3% Grant. Receive 2% or 3% of your sales price in closing assistance through the State of Maryland.

Check Your Credit. Home buyer’s credit score is among the most important factors when it comes to qualifying for a loan Evaluate Assets and Liabilities
–How do you spend your money?
–Are your payments up to date?
–Do you pay your bills on time?

Organize Documents. When applying for mortgages, homebuyers must document all income and tax returns. Mortgage lenders will request 30 days of recent pay stubs, the previous 2 years W-2’s, 2 years’ tax returns, and last two months of bank statements.

Qualify Yourself. How much can you afford to spend before the mortgage lender qualifies you?

Selecting the Right Real Estate Agent
–Referral from someone you know
–Select an agent that specializes in your area.

Exit Spivey is always with you. Every step of the way.
What to bring with you when you apply for a mortgage:

–A check to cover the cost of the appraisal & credit report. Approximately $360.00.
–(Original) W2’s from all jobs for the last 2 years.
–(Original) Pay stubs from all jobs to cover the last 30-day period.
–(Original) Bank statements from all checking & savings accounts, to cover the last 3 months, including 401K and thrift plan.
–Employer’s address for the last two years.
–A list of all open loan account numbers, balance and monthly payment or most recent statement, if available.
–Real estate owned-loan number, addresses, balance and monthly payment.
–If self-employed, last two years’ federal tax returns with all schedules and YTD P&L.
–Social security numbers
–Copy of driver’s license or another photo I.D.
–If a veteran, the VA certificate of eligibility or DD214.
–For first time homebuyer loans, bring three years COMPLETE 1040 (all schedules) or Non-Filing Affidavit. If borrower does not have all 3 years returns, they must call the IRS at 1-800-829-1040 & request the IRS 1722 letter for the missing year’s returns.

Experian (TRW)
701 Experian Pkwy
P.O. Box 949
Allen, Texas 75013

Transunion Corp.
760 W. Stroul Road
P.O. Box 390
Springfield, PA 19064

Equifax Credit Service
P.O. Box 740241
Atlanta, Georgia 30374

Basic Moving Checklist:
–Begin removing unwanted or unneeded items from home attic, garage, basement or storage
–Donate items. Remember to collect receipts for tax purposes.
–Forward or cancel any monthly services, subscriptions or memberships
–Check to make sure you have returned all borrowed items including video rentals and library books.
–Keep the following supplies handy for packing: Boxes, marking pen, bubble wrap, newspaper and/or tissue, packing tape, tape measure and scissors
–Use strong boxes and containers that can be secured tightly. Purchase special boxes for dishes, your wardrobe
–and other delicate items.
–Avoid loading more than 50 pounds into one box.
–Label each box and indicate the following: (a) The contents and designated room (b) Whether it is fragile (c) if it should be loaded last so it will be unloaded first.
–Pack books tightly in small boxes. If musty smelling, sprinkle talcum powder between the pages and wrap the book before packing. Leave stored for a couple of months to eliminate the smell.
–Have rugs and draperies cleaned before moving and leave them in wrappings.
–Carry all valuables and medicines with you.

One Month Before Moving:
–Fill out change of address order form. Get it from the Post office
–Fill out an IRS change of address form.
–Make arrangements with moving company or reserve a rental truck.
–Make travel arrangements, if necessary, with airlines, buses, car rental agencies and hotels.
–Transfer memberships in churches, clubs and civic organizations.
–Obtain medical and dental records, x-rays and Prescription histories. Ask doctor and dentist for referrals and transfer Prescription(s).

If Moving Out of Town:
–Check into the laws and requirements of your new city regarding home-based businesses, professional tests, business licenses and any special laws that might be applicable to you.
–Take inventory of your belongings before they’re packed, in the event you need to file an insurance claim later. If possible, take pictures or video tape your belongings. Record serial numbers of electronic equipment.
–Make arrangements for transporting your pets. Or make arrangements with a kennel or a friend until you have completed your move, if necessary.
–Start using up food items, so that there is less left to pack and possibly spoil.

Moving Company/Do It Yourself Tips:
–Get an estimate from the moving company. Make sure the amount is written in the contract.
–Inquire about their on-time record and other complaints with the local Better Business Bureau or consumer complaints department.
–Ask about expected gratuities and make sure it’s a part of the contract.
–Be sure all charges are listed on contract
–Be sure your name and address and other information is correct on the contract
–Watch loading and unloading and examine all items carefully before signing a receipt.
–If you are renting a truck to move yourself, make sure you are clear with the pickup location, time and the expected time to return the truck to the company.
–Consider renting a POD or contact a storage rental facility.

One to Two Weeks Before Moving:
–Make backup copies of important files on your computer before packing it up.
–Switch utility services to new address. Inform electric, disposal, water, newspaper, magazine subscription, telephone and cable companies of your move.
–Arrange for help for moving day.
–Confirm travel reservations.
–Reserve elevator if moving from an apartment.
–Have appliances serviced for moving.
–Clean rugs and clothing and have them wrapped for moving.
–Plan ahead for special needs of infants.
–Collect valuables from safe-deposit box. Make copies of any important documents before mailing or hand carry them to your new address.
–Check with your insurance agent to ensure you’ll be covered through your homeowner’s or renter’s policy during the move.
–Defrost freezer and refrigerator. Place deodorizer inside to control odors.
–Give a close friend or relative your travel route and schedule so you may be reached if needed.
–Prune indoor plants to facilitate packing. Consult a florist or a plant book for instructions.
–Confirm any moving companies, travel plans, or reservations you may have made for moving day.

On Moving Day:
–Double check closets, drawers, shelves, attic and garage to be sure they are empty.
–Carry important documents, currency and jewelry yourself, or use registered mail.
–Carry traveler’s checks for quick available funds.

After Arriving At Your New Home:
–Renew your driver’s license, auto registration and tags.
–Revise your will and other legal papers to avoid longer probate and higher legal fees.
–Locate the hospitals, police stations, veterinarian and fire stations near your home.

Important Phone Numbers

–Budget Truck Rental. 1-800-BUDGET2 / 1-800-283-4382 |
–U-Haul. 1-800-468-4285 |
–Verizon. (410) 954-6230 |
–AT&T. 1-800-MOVE ATT |
–Baltimore Gas and Electric. (410) 685-0123 |
–School Registration. (410) 887-4215
–United States Postal Service. 1-800-275-8777 |
–Comcast Cable. (410) 427-9600 |
–ADT. 1-800-238-2727 |
–Call One Switch (To Move Your Magazines). 1-800-479-6207