Baseline Conforming Limit Will Increase to $766,550 FHFA Announces Conforming Loan Limits for 2024 | Federal Housing Finance Agency Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2024. In most of the United States, …
Opening Doors for More Homebuyers George Mason Mortgage understands that saving money for a down payment and closing costs is one of the most challenging aspects of the homebuying process. Partnering with the Federal Home Loan Bank of Atlanta allows us to offer a variety of cost assistance programs – and open doors for more …
Essential Checklist for First-Time Buyers: Your Path to a Successful Mortgage Journey Buying your first home is an exciting milestone! To ensure a smooth and successful mortgage journey, it’s crucial to be well-prepared. Check out our essential checklist to guide you through the process: Assess Your Financial Readiness: Evaluate your financial situation, including income, expenses, savings, …
DC Open Doors and Maryland Mortgage Program Purchasing a home can be a daunting experience, especially if you’re a first-time homebuyer. One way to make the process more affordable and accessible is by utilizing homebuyer grants, such as DC Open Doors and the Maryland Mortgage Program. These programs offer financial assistance to eligible homebuyers located …
9 Tips to Help You Prepare to Purchase Your First Home Buying your first home is an exciting milestone in life, but it can also be a stressful and overwhelming experience if you’re not prepared. From finding the right property to securing a mortgage, there are many factors to consider before making such a significant …
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The Maryland Mortgage Program – Greenbelt Home Advantage Are you a renter in the City of Greenbelt? We are excited to share that if you are eligible for the Maryland Mortgage Program, there is another state program you may qualify for designed to help make homeownership more affordable! The Greenbelt Home Advantage program provides renters …
You have probably heard of refinancing your mortgage as a way to potentially lower your monthly mortgage payments. There is also another possible option called recasting. Recasting your mortgage involves making a lump-sum payment that reduces your mortgage balance and leads to a lower monthly payment. Advantages of recasting a mortgage is that it can …
Who Can Receive Down Payment Assistance? While many down payment assistance programs are often paired with loan options for first-time homebuyers, this is not always the case, as some programs may be used by previous homeowners or even towards refinancing your current home. There also may be programs available in your area for professions such …
How Do Down Payment & Closing Cost Assistance Programs Work? Read More »
Baseline Conforming Limit Will Increase to $726,200 FHFA Announces Conforming Loan Limits for 2023 | Federal Housing Finance Agency Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2023. In most of the United States, …
Home inspections give you the opportunity to have the home thoroughly examined by a professional before you spend any money to purchase it. Paying for a home inspection can be well worth it both for peace of mind and the potential cost of trouble avoided. What can you expect during your home inspection? Your home inspector’s …
Here is a list of frequently used homebuying terms and their definitions. What is an adjustable-rate mortgage (ARM)? An adjustable-rate mortgage is a type of mortgage with an interest rate that adjusts after an initial period. The rate can also reset periodically over the life of the loan. ARMs usually give you lower monthly payments …
With homebuying, everything is negotiable, from repairs and closing costs to furniture and appliances. Offers and counteroffers can negotiate on a mix of these factors. These are some of the most commonly negotiated aspects in homebuying. Purchase Price Your pre-qualification letter from your lender will tell you the maximum you can pay for a property, but you …
With rates near all-time lows, the housing market is buzzing with potential buyers! Low rates mean more affordable payments or more home for your money, and now is a great time to purchase a home. Below are a few tips and tricks to help you stand out from a crowd of other home buyers and …
1. Check your emotions Buying a home can be both exciting and stressful. And, after a long home search, it’s easy to overlook some red flags because you have fallen in love with a home that checks the boxes on your home wish list. Remember to let your homebuying team guide you on your journey, not your emotions. …
Paying cash for a home has benefits. Take advantage of being a cash buyer to give the seller confidence the transaction will close quickly and have the option of getting a cash out refinance shortly after closing to avoid your savings being tied up in your home. Or if you have already purchased a home …