Posts by admin
McHaf
Montgomery County HOC opened 8/1/25 a fund of $2 Million to provide down payment assistance for eligible home purchasers in Montgomery County. The amount of assistance is up to $25,000 to be utilized for down payment or closing costs. To learn more about eligibility for the HOC program including income limits and credit score criteria…
Read MoreCash to close
Cash to close refers to a combination of the down payment plus closing costs. The combination of the two makes up the cash to close, and the earnest money deposit is applied to the cash to close.
Read MoreFirst Home Advantage
Today we introduced the First Home Advantage loan product, which improves pricing of loans for eligible buyers, mostly for but not just limited to first time buyers. Fannie Mae and Freddie Mac, entities of the federal government, removed loan level pricing adjustments (LLPAs) on all Home Ready loans and also on loans where at least…
Read MoreHome equity lines of credit
We offer home equity loans but not home equity lines of credit. A home equity line of credit (HELOC) is generally a 2nd mortgage loan you take out in addition to the loan that you currently have. Most homeowners take out a HELOC to finance home renovations. Or, you could take out a HELOC to…
Read MoreHome Ready and Home Possible
There are two really great loan programs offered by Fannie Mae (Home Ready) and Freddie Mac (Home Possible) that combine low down payment loans with superior mortgage terms. These products even have better terms in many cases than standard conventional financing at a variety of down payment amounts. Program Highlights: 3% Down minimum for loan amounts up to…
Read More