Blog
Reserve studies
In October 2022, Maryland joined Virginia in requiring that homeowners associations, condominiums, and cooperatives complete a reserve study every 5 years. DC does not have a reserve study requirement, currently. A reserve study is both a financial analysis of an association’s balance sheet and budget, as well as an examination of the association property. A…
Read MoreProperty Taxes
The county, city, or state you choose to purchase in charges property taxes which are based on the assessed value of your home. These property taxes are typically included in your monthly payment in that 1/12th of your tax bill is paid into your escrow account. What is escrow? You can look up the property…
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 MoreVA Loans
The VA loan is often the best possible loan because it offers lower costs than conventional financing. And regardless of down payment, there is no monthly mortgage insurance. There are no lender fees on VA loans and realtors are disallowed from charging fees as well. Unless you are exempt, the VA does charge an upfront…
Read MoreFederal Home Loan Bank
As of 3/19/25 FHLB is suspended due to exhausting funds. It is possible there’ll be more funds later this year but that is unknown. 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…
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