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Solicitations
Both your home purchase as well as the mortgage on your property are recorded in public record after you purchase. Therefore, after you purchase you’re highly likely to receive some solicitations by mail. It’s also common for these solicitations to show the name of your lender on the envelope or letter or both, as a…
Read MoreDream
Dream is available to home buyers who meet the underwriting requirements of either Home Ready or Home Possible. The $3,000 is a grant from First Home Mortgage. The mortgage the grant is paired with must also be obtained, and the mortgage and grant together are the Dream program. To qualify for Dream, income needs to…
Read MoreOptOut
There are 3 credit bureaus: Equifax, Transunion and Experian. The credit bureaus are businesses, and one line of business they are in, is in selling leads to creditors. For instance, competing mortgage lenders can pay the bureaus to be informed when someone pre-qualifies for a mortgage loan. The home buyer might then be contacted by…
Read MoreGreenbelt Home Advantage
UPDATE: This program has exhausted funds and it’s unknown whether it’ll be funded again. Greenbelt Home Advantage is an enhancement of the Maryland Mortgage Program (MMP), for eligible purchasers. Learn more about MMP here: https://alexjaffe.com/md-down-payment-assistance This program offers a grant of $15,000 to home buyers purchasing within Greenbelt (zip code 20770). However to be…
Read MorePITI
The acronym PITI refers to principal, interest, tax and insurance. These are the components of the monthly mortgage payment you’ll be making. If you purchase a property that is a part of a homeowners association, co-op, or condo, we might use the acronym PITIA where “A” refers to the association payment additionally that is due…
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