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Stability
Almost 200,000 Americans, and over 900,000 humans have passed away this year from Covid-19. I’ve been through excruciatingly difficult conversations with friends who’ve lost parents and siblings. Two friends have had to close their businesses permanently. My brother was supposed to get married on Saturday; but he and his fiancé have tearfully postponed their wedding…
Read MoreVolatility
In the first week of March, mortgage rates hit historic lows. For a brief moment in time, 30 year rates reached the low to mid 3s and 15 year rates hit the high 2s to low 3s. Our company, First Home Mortgage which is the largest lender in MD and 4th largest lender in DC, was overwhelmed by…
Read MoreCo-signing
A co-signer is a mortgage loan applicant who co-applies with a home buyer to help the buyer qualify for their mortgage. This co-applicant is typically a family member who does not plan to occupy the property the home buyer is purchasing, and is therefore labeled a non-occupant co-borrower (or co-signer). Adding a co-signer to a…
Read MoreSpringboard
April 2020 update: this program is currently suspended. See other programs which are currently available at https://alexjaffe.com/dpa We just released the Springboard down payment assistance program, which is available for home buyers in Maryland & Virginia! This is a conventional loan program without mortgage insurance which comes with a repayable down payment assistance loan of 4%…
Read MoreBorrowSmart
BorrowSmart is a grant program offering $1,250 in grant funds, available if you’re under 80% of the area median income AND putting down less than 20%. The program cannot generally be paired with other assistance programs. The assistance is paired with a 3%+ down conventional Home Possible loan and is a great way to get…
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