For The

Cecil County Real Estate Market

as of

June 25, 2011

Susan and I met with Alex Szep with MetLife Mortgage and were very impressed with his program. He has been in the Mortgage Business for 17 years and now has an office in Newark DE. He will soon be opening an office in North East MD to service the Cecil County Market. He has committed to send me regular Rate and Mortgage Information that is relevant to the area and I will share it with you. Here is the 1st of what I hope are many "Mortgage Updates" for your information, Alex wrote:


"Financial Reasons to Buy

There are a number of personal and emotional reasons to buy a home. But there are also some strong financial reasons to make the investment. Here are just a few of those reasons:

Increase Net Worth: Few things have a greater impact on net worth than owning a home. In a comparison of renters versus homeowners, the Federal Reserve Board of Consumer Finance found that the average net worth of renters was just $4,000 compared to homeowners at $184,400.

A Big Tax Deduction: One of the largest tax deductions available is the amount of interest paid on a mortgage. In fact, a $150,000 home at a 5.50% interest rate can add up to approximately $8,000 in first year's interest. This amounts to a significant savings – effectively reducing the amount of a homeowner's monthly mortgage payment.

Long-Term Appreciation: Over the last few years, home prices have corrected and become more affordable. While that's good news for potential buyers, it has overshadowed the long-term appreciation of a home's value. The reality is, despite market ups and downs between 1950 and 2002, US home prices appreciated at an annual growth rate of 4.8%. Even if you calculate a modest appreciation of 3%, a home purchased today for $150,000 will grow in value to $364,000 over 30 years."


Alexander Szep
Sr. Mortgage Consultant
MetLife Home Loans
Phone: (302) 533-3861
Fax: (866) 669-5868


Mortgage Interest Rates for Fixed and Variable Rate Mortgages*

Rates as of Saturday, 25th June, 2011:
  Term Conforming APR Payment per
Jumbo APR Payment per
Arm Reset Term
Conforming 30 Yr Fixed 360 4.625% 4.651% $5.14 % % $0.00 -
FHA/VA 30 Year Fixed 360 4.500% 5.231% $5.07 % % $0.00 -
FHA 5/1 ARM 360 3.250% 2.880% $4.35 % % $0.00 60
FHA 3/1 ARM 360 3.000% 2.727% $4.22 % % $0.00 36
USDA 360 4.5% 4.866% $5.07 % % $0.00 -
DSHA FHA With SMAL 360 4.75% 5.378% $5.22 % % $0.00 -
Jumbo 30 Yr Fixed 360 % % $0.00 5.125% 5.225% $5.44 -
Jumbo 7/1 ARM 360 % % $0.00 4.125% 3.553% $4.85 84
JUMBO 5/1 ARM 360 % % $0.00 3.750% 3.288% $4.63 60


*Rates are subject to change due to market fluctuations and borrower's eligibility.***Equal Housing Lender


Steve Hubbell, Realtor®  - Internet Marketing Specialist - The "Bay Property Team" was formed in 2006 by Susan and Steve Hubbell to specialize in helping Buyers and Sellers invest in Waterfront and Water Access Properties in Chesapeake City, Elkton, Earleville, and Warwick in Cecil County MD. We also serve, Georgetown, Galena, and Kennedyville in Kent County MD and surrounding areas. (800)-890-0381

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