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Tax Advantages
I am not a tax advisor – but I often get questions about the tax advantages of home ownership. The below deductions assume you choose to itemize your deductions instead of taking the standard deduction. Here are the benefits: Deduct interest: When filing your income taxes, you may deduct the interest you pay on your…
Read MoreChenoa
The Alex Jaffe Mortgage Team now offers financing with no down payment from the buyer up to sales prices of $1,253,626*…and there is no income limit for the program! *Max sales price varies by county and $1,253,626 is applicable to DC and the counties that surround it, plus Frederick & Calvert County. This FHA loan…
Read MoreCo-ops
We’re able to help you finance your co-op in DC, MD or VA! Co-ops are a great option for home ownership in the DC metropolitan area that is very similar to buying a condo. Down payments can be as low as 3%-5%. There’s a maximum loan amount of $1,209,750. The loan products offered are similar…
Read MoreEarnest Money Deposit
When making an offer, you will present to the seller an earnest money deposit (EMD). This deposit will ultimately go towards your cash to close, which is made up of your down payment and closing costs. We will be documenting as part of your loan application the EMD clearing your bank account. This deposit says…
Read MoreLimited Review
Typically, Fannie Mae and Freddie Mac require a full review of a condominium association as part of our underwriting requirements when financing within a condominium. However, in some cases they can allow a limited review on a conventional loan for a condominium. A limited review will mean that we need request less documents and verify less…
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