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Per a news release today from the Federal Housing Finance Administration, the FHFA will delay the guarantee fee increase that was scheduled to take effect this Winter.  This would have resulted in an across-the-board .25% increase for every conforming loan.   New director, Mel Watts, wants to reconsider the effect on the consumer.  Good news…

Listing agents may be wary of accepting contracts from self-employed borrowers for a few reasons, so I thought I’d share these challenges and how we overcome them. Problem: Many loan officers simply don’t know how to calculate self-employed income The number one reason why self-employed borrowers get a bad reputation for approvability is that many…

Thanks to the new loan program that we offer through the DC housing finance agency (DCHFA), home buyers in Washington DC do not need their own funds for a down payment!   The program will provide the needed funds for the down payment, and provided you live in the property for five years, you don’t have…

Please review me on Yelp!  I would love it if you’d share your experience with others.   http://www.yelp.com/biz/first-home-mortgage-chevy-chase-md-chevy-chase

In December, 2012, DC updated its first time buyer benefits.  I’m referring specifically to the DC Tax abatement, which allows for:   1. The buyer does not pay for the recordation tax, which is 1.1% of the sales price.  Also, instead of the seller paying the transfer tax (also 1.1%), that transfer tax is credited…