Page 14 - March 2023 Issue

For planning purposes I suggest the figure for closing costs will and it is expected to continue dropping. It only makes sense

be $9,000-$10,000. Get a firm estimate of closing costs before that if inflation jumped 9% from June of 2021 to June of 2022,

you make your contract off er. it is possible that inflation could drop significantly in June of
2023 from June of 2022, especially since the month to month
Appraisals are required on all purchase transactions and the
inflation rate has been declining for the past six months. Check

cost is paid at the time of application. The borrower pays and

back in June to see if my prediction is correct.
the lender orders the appraisal. There is no need for the buyer

to pay for an appraisal independent of the appraisal the lender If you are seriously considering purchasing your first home, or
will acquire for the purposes of the loan. if you are a parent of a gainfully employed credit worthy son or
daughter “encouraging” your child to begin the homeownership
Interest rates have settled in the 6% range after scaring us

journey, we need to have a conversation. The internet is great

by shooting up to 7% in the fall. The Fed has signaled that
for getting information and online lenders can only go so far.
they are not done increasing rates, although at a slower pace.
Many are not familiar with all the programs and eligibility

Inflation has come down from over 9% in June of last year
criteria, nor familiar with our area.

BRIAN’S POWER WASH, LLC Knowing which financing programs work best for you and
understanding specific requirements and guidelines of loan

programs will get you ready for “April Showers that bring lots
• Low Pressure Exterior Cleaning of house’s”
• No Pressure Roof Cleaning
Mr. Rowe is Vice President/Lending for Bay Capital Mortgage
B • Residential & Commercial
P
W
• Licensed & Insured Corp. with offices in Easton and Annapolis. He has lived in
Caroline for his entire life and supports the county by volunteering
FREE ESTIMATES! in a variety of ways. He currently lives near Greensboro with his
wife Jeanne and daughter Kelsey.
Brian Bartolomeo
brianspowerwash@gmail.com
443-786-3439 www.brianspowerwash.com
Need someone who speaks
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Charlie Huber, Agent 325 N Main Street
19 South 3rd Street Federalsburg, MD 21632
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