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Each year the Federal Housing Finance Agency (FHFA) announces changes to loan limits based on changes to average home prices.  For 2024, loan limits effective and available today are Conforming: $766,550 Conforming Jumbo: $1,149,825 See announcement here: https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Announces-Conforming-Loan-Limit-Values-for-2024.aspx These numbers are increases from the 2023 numbers of $726k & $1,089k. A conforming loan allows 3% down…

With a conventional loan we are now able to finance primary residence multi-unit properties of 2-4 units with 5% down without income limits/caps! Prior to today (10/5/23), if a buyer wanted to put only 5% down on a multi-unit, their income would need to be under 80% of area median income ($120k in DC and…

Today I was given an opportunity to meet with DC Government and share insight on HPAP. DC homeownership (and housing) is unaffordable to many, and HPAP can fix that for some.  And the tens of thousands of homeowners since 1980 who’ve been through the program successfully are a testament to that (including 480 of them…

The Family Homeownership Program (FHOP) offers 100% financing without mortgage insurance for eligible buyers (no down payment required). Eligibility for the program is based on either a) meeting household income caps or b) buying in an area where there is no household income cap. Although being a first time home buyer is not a requirement…

Both your home purchase as well as the mortgage on your property are recorded in public record after you purchase.  Therefore, after you purchase you’re highly likely to receive some solicitations by mail. It’s also common for these solicitations to show the name of your lender on the envelope or letter or both, as a…