Blog
Home Ready and Home Possible
There are two really great loan programs offered by Fannie Mae (Home Ready) and Freddie Mac (Home Possible) that combine low down payment loans with superior mortgage terms. These products even have better terms in many cases than standard conventional financing at a variety of down payment amounts. Program Highlights: 3% Down minimum for loan amounts up to…
Read MoreFederal Home Loan Bank
FHLB funds are currently exhausted until replenished! The Federal Home Loan Bank (FHLB) program provides a $15,000-$20,000 grant or forgivable loan to be used towards down payment and closing costs. There are three programs: The Workforce Housing Grant offers a $15,000 grant, to home buyers with incomes from 80-120% of area median income…
Read MoreBridge 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 More