I Gotta Ask, What Do They Do?

Brian and I are in the process of buying our first house. My father once told me there are a lot of incentives for first time home buyers. After doing hours of research, I find there really aren’t any. There is actually only one we could find that we actually qualify for ($7,500 “loan” that we pay back through taxes). All the rest are for incomes less than what we’re making. Of course, we’re trying to find ones in Maryland and from Montgomery County. We make too much money! We make a little over the MEAN income in MoCo.

It blows my mind. One of the programs can give us a mortgage rate of some 5.5% (fixed). We just got approval from our bank at 4.75% (fixed). Yeah, who would go with that?

My question is, what the hell do these politicians do? They obviously just sit on their asses and not pass things that need to be passed. Or update laws and programs that need to catch up with the times. 5.5% would have been great a few years ago, but now it’s pretty high. All these programs we can’t qualify for because we make too much money, how come they haven’t been updated? Bri and I are a little below middle class. We don’t qualify for anything! Who does? We couldn’t afford a house if we made less. These programs need to be updated. I don’t know anyone who it applies to, they all make too much money! But we don’t make that much, honestly!

The lady who lives below me had her childrens school food benefit (where the state assists in school lunches) taken away from her because she got a little pay raise and now she doesn’t qualify anymore. She can’t afford not to have it.

I just want to know why these programs haven’t been updated for inflation. It took 10 years to increase minimum wage, it took 28 years to increase the FDIC insurance to $250,000. What the hell do these people do who should be passing laws to update these very important programs?