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How Do Down Payment & Closing Cost Assistance Programs Work?

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 …

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FHFA 2021 Announcement

FHFA Announces Conforming Loan Limits for 2023

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, …

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What Is Commonly Negotiated When Buying A Home?

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 …

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Virginia Housing Update

Virginia Housing (formerly referred to as VHDA) offers affordable loan programs for Virginians. With the update of Income and Sales Prices in addition to an increase of Loan Limits, Virginia Housing continues to provide special homeownership opportunities.   Effective August 19, 2022: Untitled Document Area Maximum Gross Household Income Sales Price/Loan Limit   2 or …

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Homebuyer Options

Homebuyer Options

Low Down Payment Programs & Grants George Mason Mortgage has the program options to fit your story and our experienced mortgage professionals will help find the perfect match for you. If you want to become a homeowner, but you don’t have enough cash for a down payment, a state or local down payment assistance program1 might …

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Moving Checklist

Moving Checklist

6-8 Weeks Before Moving Budget for moving expenses and obtain estimates from moving companies Call insurance companies to identify record changes Cancel or transfer gym, club & organization memberships Compile medical and dental records, ask for referrals in your new location Arrange transfer of any school records Consider moving/shipping options for valuable items Donate, discard …

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Your Journey Home

Knowing the path will travel together helps the journey go more smoothly. We have outlined some important highlights so you know what to expect along the way. 1. Get Pre-Qualified The best way to approach a real estate agent is with a mortgage pre-qualification in hand. It shows that you’re ready and able to buy …

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Homebuyer Tips

Our goal is to make your home buying experience as smooth as possible. We have highlighted some best practices to help keep your finances in order as you prepare for your journey home. DO Stay current on your rent and all monthly bills Remain with your current employer Check your credit score Find and organize …

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