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Home 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 Equity Loan
A home equity loan is a secondary mortgage behind your existing loan! It allows you to cash out equity for a variety of purposes including financing renovations or consolidating higher interest rate debt. This loan is available on a primary or secondary residence. Your existing mortgage plus the new home equity loan can finance up…
Read MoreTransfer Tax
First time buyer potential tax savings on closing costs: DC: .375% to .725 of purchase price MD: .25% of purchase price. In Maryland, home buyers who’ve never owned real estate in the state and are buying a primary residence are exempt from the state transfer tax, which saves .25% of the purchase price in…
Read MoreUnderstanding Closing Costs
There are five primary categories of closing costs: Lender fees Title Attorney costs, including title insurance Transfer taxes to local government Real Estate Agent Commission/Fee Upfront deposits for escrows and prepaids In addition to the main categories, there are going to be miscellaneous costs which vary by transaction. For instance if you are buying a…
Read MoreCommunity
This program is eligible for loans closing up until 6/20/25 and thereafter it will be closed. Our Community grant is paired with a conventional 30-year fixed mortgage, and is a $3,000-$5,000 grant depending on eligibility and income. It’s available in MD, DC and VA. This grant may be used towards a down payment or…
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