Blog
Appraisal 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 More2024 Limits
Each year the Federal Housing Finance Agency (FHFA) announces changes to loan limits based on changes to average home prices. For 2024, loan limits effective and available today are Conforming: $766,550 Conforming Jumbo: $1,149,825 See announcement here: https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Announces-Conforming-Loan-Limit-Values-for-2024.aspx These numbers are increases from the 2023 numbers of $726k & $1,089k. A conforming loan allows 3% down…
Read MoreMulti-Unit 5% Down
With a conventional loan we are now able to finance primary residence multi-unit properties of 2-4 units with 5% down without income limits/caps! Prior to today (10/5/23), if a buyer wanted to put only 5% down on a multi-unit, their income would need to be under 80% of area median income ($120k in DC and…
Read MoreImproving HPAP
Today I was given an opportunity to meet with DC Government and share insight on HPAP. DC homeownership (and housing) is unaffordable to many, and HPAP can fix that for some. And the tens of thousands of homeowners since 1980 who’ve been through the program successfully are a testament to that (including 480 of them…
Read MoreFHOP
The Family Homeownership Program (FHOP) offers 100% financing without mortgage insurance for eligible buyers (no down payment required). Eligibility for the program is based on either a) meeting household income caps or b) buying in an area where there is no household income cap. Although being a first time home buyer is not a requirement…
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