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Buydown
An interest rate buydown will decrease the interest rate for the first 1-2 years. There exists in the mortgage industry both a 1 year buydown and also a 2-1 buydown. For example in a 1 year buydown, let’s say the starting interest rate is 6%. For the first year, thanks to the buydown, the interest…
Read MoreBuydowns
An interest rate buydown will decrease the interest rate for the first 1-2 years. There exists in the mortgage industry both a 1 year buydown and also a 2-1 buydown. For example in a 1 year buydown, let’s say the starting interest rate is 6%. For the first year, thanks to the buydown, the interest…
Read MoreFHA Single Unit Approval
In October 2019, FHA (Federal Housing Administration) introduced the Single Unit Approval (SUA). This allows us to approve individual condominium units within a condominium that doesn’t have an existing approval for the condo association as a whole. The SUA provides a much quicker review process to approve an individual condo unit, rather than pursuing a…
Read MoreMcHaf
As of December 2024 the funds are exhausted. It is unknown if the program will be refunded this fiscal year. Historically the program has been funded in August. If you’re looking for a competing program with grant funds of similar amounts, check out FHLB which is funded 2/24/25. https://alexjaffe.com/fhlb Montgomery County HOC announced today (8/4/23)…
Read MoreCrescendo
Imagine the housing market of early 2020-2022 as an orchestra. The musicians are comprised of loan officers like myself, realtors, and the buyers and sellers who’ve been trading real estate over the past two years. Imagine the buyers and sellers as the drums – setting the pace. I’m playing the horn within the brass section…
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