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Bridge loan for a home purchase
We offer temporary financing, primarily meant to help finance your next home while you’re still working to sell your current home. If you qualify we can place a bridge loan on either the home you’re buying or the home you’re selling, or both. We can simultaneously put together a refinance into traditional financing. We pre-qualify…
Read MoreHomestead Deductions in DC and MD
If you buy your home in DC or in Maryland, and will live in the property, you will want to apply for the homestead deduction. The homestead deduction will limit how much your property taxes can increase annually and potentially reduce your tax bill. In DC, with the homestead deduction your taxable assessed value will…
Read MoreInsurance & Condo/Co-Op Changes
Fannie Mae and Freddie Mac announced the following changes that both ease and tighten insurance, condominiums, and co-ops lending guidelines. Here’s what is easier, and this is effective now on conventional conforming financing: 2-10 unit condominium associations – in most cases we’ll no longer need a condominium questionnaire nor need to review the budget. This…
Read MoreAppraisal Waiver
Many buyers and agents ask if it’s possible to purchase without an appraisal. Or, if they can waive an appraisal contingency in their contract without increasing their risk. The appraisal waiver / value acceptance can help with that – and here’s how it works. Fannie Mae and Freddie Mac (government entities) require we upload…
Read MoreFamily Lending
Mortgage guidelines have specific rules on allowable sources of funds for down payment and closing costs. In most instances gifts from family are allowed. Gifts are money that will never be repaid. Sometimes clients ask about getting loans from family for their purchase. This blog post overviews the rules for this arrangement and copies guidelines…
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