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Federal Home Loan Bank
FHLB funds are currently exhausted until replenished! The Federal Home Loan Bank (FHLB) program provides a $15,000-$20,000 grant or forgivable loan to be used towards down payment and closing costs. There are three programs: The Workforce Housing Grant offers a $15,000 grant, to home buyers with incomes from 80-120% of area median income…
Read MoreDown Payment Assistance Programs
There are down payment assistance and low down payment programs available both nationally and locally. I have written below the descriptions of each program to aid in understanding what is available. During your initial conversation, we will review your financial situation to see what is the best fit for you. For most first time buyers,…
Read MoreBridge loan for a home purchase
We offer temporary financing, primarily meant to help finance your next home while you’re still working to sell your current home. If you qualify we can place a bridge loan on either the home you’re buying or the home you’re selling, or both. We can simultaneously put together a refinance into traditional financing. We pre-qualify…
Read MoreHomestead Deductions in DC and MD
If you buy your home in DC or in Maryland, and will live in the property, you will want to apply for the homestead deduction. The homestead deduction will limit how much your property taxes can increase annually and potentially reduce your tax bill. In DC, with the homestead deduction your taxable assessed value will…
Read MoreInsurance & Condo/Co-Op Changes
Fannie Mae and Freddie Mac announced the following changes that both ease and tighten insurance, condominiums, and co-ops lending guidelines. Here’s what is easier, and this is effective now on conventional conforming financing: 2-10 unit condominium associations – in most cases we’ll no longer need a condominium questionnaire nor need to review the budget. This…
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