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DC’s city council just voted in a reduction in transfer taxes to .725% of the purchase price.  This is a first time buyer benefit for eligible purchasers whose income is less than 180% of the area median income.  That income cap is going to be approximately $190k a year. This looks to go into effect…

The DC Housing Finance Agency just celebrated its third anniversary and the close of the third fiscal year of the DC Open Doors program.  I have been fortunate to be recognized as the top producer of the program every year, as well as being the loan officer who closed the first loan in the program…

If you’re seeking to buy a condo and looking to put a minimal amount down, then you may be looking to get an FHA loan. FHA has been more strict on whether they’ll lend in a condominium project in the last several years.  But yesterday they eased up on one restriction. Now, FHA is willing…

Thanks to Fannie Mae changes Saturday, we no longer require 10% down on loan amounts of $417,001 to $625,500; now primary residence purchasers only need to put down 5%! Also, all of the down payment can come from family gifts, even when the buyer is purchasing with a co-signer. Conforming financing is now easier and…

The new TRID requirements have lead to a big change in the industry with regard to how we approve and close loans.  However, TRID has also been an opportunity to deliver even better customer service, which was the intent of the new law. Our adjustment has been smooth.  We have had 14 new applications since October…