Maryland First-Time Homebuyer Advantage
Is there an advantage of being a first-time homebuyer in Maryland?
The answer is "Yes". If you are a first-time homebuyer in the State of Maryland, then you are exempt from paying your portion of the State Transfer Tax (.25% of the Sales Price).
Remember that ALL buyers must be first-time homebuyers in order to qualify for this exemption (e.g., if husband owned a Maryland home prior to marriage, and now both husband and wife are purchasing a Maryland property, then the exemption would NOT apply).Federal Title & Escrow Company provides all paperwork for this exemption. For details, ask your Realtor or contact us.
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Closing Costs Explained Visually
Whether you're shopping for a new home or refinancing your current one, you'll feel more in control if you fully understand the closing process.
