Posts by Alexander Jaffe

First time buyers can pursue the Montgomery Homeownership Program which offers up to $50,000 in down payment and closing cost assistance.  The amount of assistance is determined by your household income, and is set at 40% of your total income.  So a family earning $90,000 might receive $36,000 in assistance, or a family earning $125,000+…

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…

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…

Each year the Federal Housing Finance Agency (FHFA) announces changes to loan limits based on changes to average home prices.  For 2025, loan limits for conforming and FHA loans are: Conforming or FHA: $832,750 Conforming Jumbo or FHA jumbo: $1,249,125 These numbers are increases from the 2025 numbers of $806k & $1,209k A conforming loan…