Month: July 2026

First Home Mortgage Named Largest Residential Lender in Greater Baltimore

Posted on by Emily Gregory

For 36 years, First Home Mortgage has been helping Maryland families achieve homeownership. Today, we’re proud to share another milestone in that story.

According to the latest rankings from the Baltimore Business Journal, First Home Mortgage has been named the largest residential mortgage lender in the Greater Baltimore area, originating more than $658 million in local mortgage volume in 2025.

While rankings and awards are always meaningful, this recognition represents something much bigger: decades of trust built one family, one loan, and one community at a time.

A Maryland Success Story

Founded in Maryland in 1990, First Home Mortgage has grown alongside the communities we serve. Through changing markets, shifting interest rates, and evolving homebuyer needs, our commitment has remained the same: delivering exceptional service and helping our clients make confident financial decisions.

For more than three decades, First Home has been a leader in residential lending across Maryland, building a reputation that borrowers, real estate professionals, and employees are proud to stand behind.

Our success isn’t the result of a single year or a single market cycle. It’s the product of 36 years of consistency, innovation, and a people-first culture.

More Than Just Numbers

The mortgage industry is filled with national brands and online lenders, but First Home’s strength has always come from its local roots and deep understanding of Maryland communities.

Our loan officers live where they work. They understand local markets, neighborhood trends, and the unique needs of Maryland homebuyers. That local expertise, combined with industry-leading technology and operational support, allows us to deliver an experience that national lenders often cannot match.

The Baltimore Business Journal reported that the region’s top 55 lenders originated more than $8.5 billion in home purchase loans in 2025, with First Home leading the market.

A Place Where Careers Thrive

This milestone is also a testament to the people behind it.

For experienced mortgage professionals, First Home offers the stability, resources, and reputation that come from being Maryland’s leading lender. For those new to the industry, it offers something equally valuable: the opportunity to learn from some of the best professionals in the business while building a long-term career.

Our culture is built on collaboration, integrity, and a shared commitment to serving our clients and communities. It’s why our employees are proud to work here and why so many choose to stay and grow their careers with First Home.

Looking Ahead

Being named the largest residential lender in Greater Baltimore is an incredible honor, but our focus remains on what comes next.

As we look toward the future, First Home Mortgage remains committed to the values that have guided us for the past 36 years: putting people first, supporting our communities, and helping Maryland families find a place to call home.

Thank you to our clients, referral partners, and employees who have made this achievement possible. The story of First Home Mortgage is still being written, and we’re excited for what’s ahead.

What Is the VA Escape Clause?

Posted on by Emily Gregory

If you’re buying a home with a VA loan, you may hear about something called the VA Escape Clause. Unfortunately, it’s one of the most misunderstood parts of the VA loan process.

Some buyers worry it makes their offer less competitive. Some sellers and agents assume it’s an added obstacle. In reality, the VA Escape Clause exists for one simple reason:

It protects veterans from being required to purchase a home for more than its appraised value.

Understanding how this clause works can help you make stronger, more confident decisions when buying a home.

 

What Is the VA Escape Clause?

The VA Escape Clause is a provision included in VA purchase contracts that states if the property does not appraise for at least the agreed-upon purchase price, the buyer is not obligated to complete the purchase.

In other words, if the home’s appraised value comes in lower than the contract price, you have options.

This protection helps ensure you aren’t forced to pay significantly more than what the property is worth.

 

Does the VA Escape Clause Make Your Offer Weaker?

Not at all.

Every type of financing carries appraisal risk. Conventional loans, FHA loans, and VA loans can all experience low appraisals.

The difference is that the VA loan clearly outlines the buyer’s protection.

When everyone involved in the transaction understands the process and communicates effectively, VA offers compete successfully every day.

 

What Happens If the Home Appraises Low?

A low appraisal doesn’t automatically end the transaction.

Instead, you typically have several options:

  • Renegotiate the purchase price with the seller.
  • Contribute additional funds if you choose to bridge part of the appraisal gap.
  • Walk away from the contract if an agreement can’t be reached.

The important thing to remember is that the decision remains yours.

 

A Real-World Example

Imagine a buyer competing in a multiple-offer situation.

The home is listed for $595,000, but to remain competitive, the buyer offers $627,500.

During the appraisal process, the appraiser determines the value may not support the contract price and initiates the VA’s Tidewater process, allowing additional comparable sales to be submitted.

After reviewing the information, the property appraises for $596,000.

Rather than being forced to continue at the original price, the buyer has choices.

In this case, the buyer and seller renegotiate the purchase price to $616,000, and the buyer voluntarily contributes additional funds to help bridge part of the difference.

The result?

  • The buyer purchases the home for $11,500 less than the original offer.
  • They remain in control throughout the process.
  • They make an informed decision that’s right for their family.

That’s exactly how the VA Escape Clause is intended to work.

 

The Real Advantage

If the home appraises at or above the purchase price, the VA Escape Clause never comes into play.

If it appraises below the agreed price, it provides valuable negotiating leverage and protects you from overpaying.

Rather than creating obstacles, it gives veterans peace of mind during one of the biggest financial decisions they’ll ever make.

 

Want to Learn More?

The VA Escape Clause is designed to protect veterans while still allowing them to submit competitive offers. Understanding how it works before you write an offer can help you make confident decisions throughout the homebuying process.

For a detailed explanation and a real-world example, watch Ryan Paquin, The VA Loan Coach powered by First Home Mortgage, break down exactly how the VA Escape Clause works and why it shouldn’t be viewed as a disadvantage.

Watch the video here: https://youtu.be/vg0jdw_Jkjg

If you have questions about using your VA home loan benefits or want guidance on structuring a competitive offer, contact First Home Mortgage. Our experienced team is here to help you navigate every step of the homebuying process with confidence.

7.22.2026 Mortgage Market Update: What’s Driving Rates Right Now?

Posted on by Emily Gregory

If you’ve been watching mortgage rates lately, you’ve probably noticed they haven’t moved dramatically. At the same time, they also haven’t come down as many buyers and homeowners were hoping. So what’s keeping rates elevated?

Here’s a look at the biggest factors influencing today’s mortgage market.

The Economy Is Holding Steady, but Inflation Remains the Focus

The U.S. economy continues to grow at a healthy pace, and the job market remains relatively stable. While that’s generally good news, it also means the Federal Reserve doesn’t feel pressure to lower interest rates to stimulate the economy.

Instead, the Fed’s attention remains squarely on one issue: inflation.

Inflation has cooled significantly from its peak, but it still hasn’t consistently reached the Federal Reserve’s long-term target of 2%. Until inflation shows more sustained improvement, mortgage rates are likely to remain under pressure.

Global Events Continue to Influence Mortgage Rates

One of the biggest uncertainties in today’s market is the ongoing conflict involving Iran.

While geopolitical events may seem far removed from the housing market, they can have a meaningful impact on energy prices, particularly oil. Higher energy costs can contribute to inflation throughout the economy, increasing the likelihood that interest rates stay elevated.

Markets continue to watch developments closely because both renewed conflict and progress toward a ceasefire could quickly influence investor sentiment.

A New Federal Reserve Chair Brings a New Perspective

Kevin Warsh recently began his tenure as Chair of the Federal Reserve, and his early messaging has made one thing clear. Controlling inflation is the Fed’s top priority.

While the Fed does not directly set mortgage rates, its policies heavily influence financial markets. Because inflation remains above target, investors currently expect the Fed to keep interest rates steady at its upcoming meeting, although some analysts still see a small possibility of another rate increase.

Chair Warsh has also suggested he may provide less advance guidance about future policy decisions than previous Fed leadership. That could create more short-term market volatility as investors react directly to new economic data.

What Does This Mean for Mortgage Rates?

Mortgage rates are driven by a combination of inflation expectations, investor confidence, economic data, and global events, not just Federal Reserve decisions.

Right now, the market continues to watch several key questions:

  • Will inflation continue moving lower?
  • Will energy prices remain elevated?
  • How will the new Fed Chair respond to future economic reports?

Until those questions become clearer, mortgage rates are expected to remain within their current range, with some day-to-day movement.

What We’re Watching

In the weeks ahead, several developments could influence mortgage rates, including:

  • The Federal Reserve’s upcoming meeting
  • New inflation reports
  • Employment data
  • Any significant developments in the conflict involving Iran

Each of these factors will help shape expectations for where rates may head next.

The Bottom Line

While many people are waiting for mortgage rates to fall, today’s market continues to be driven by inflation and economic uncertainty. Although no one can predict exactly when rates will improve, staying informed and working with a knowledgeable mortgage professional can help you make confident decisions regardless of market conditions.

If you’re wondering how today’s rate environment affects your buying, refinancing, or investment plans, the team at First Home Mortgage is here to help answer your questions and guide you through your options.

Home Financing Designed for Medical Professionals

Posted on by Danielle Fox

Home Financing Designed for Medical Professionals

A Mortgage Program Built Around Your Career

Medical professionals dedicate years to education and training before beginning their careers. While the future earning potential is often strong, buying a home during residency, fellowship, or the first years of practice can feel out of reach.

Between student loan debt, starting a new position, and saving for a down payment, many healthcare professionals assume they’ll have to wait to purchase a home.

The good news? You may not have to.

Our Medical Professional Program was designed specifically for eligible healthcare professionals, offering financing options that recognize the unique path of a medical career.

Why Traditional Mortgage Programs Can Be Challenging

Many medical professionals face circumstances that don’t always fit traditional lending guidelines.

Some common challenges include:

  • Significant student loan debt
  • Limited savings after years of education
  • Beginning a new position after residency or fellowship
  • Purchasing before receiving a full year’s income
  • Looking to buy in competitive housing markets

While these situations can make the homebuying process feel more complicated, specialized financing options may help remove some of those barriers.

Program Highlights

Our Medical Professional Program offers features designed with healthcare professionals in mind.

Up to 100% Financing Available*

Qualified borrowers may be able to purchase a home with little to no down payment, making homeownership more accessible without years of additional saving.

No Private Mortgage Insurance (PMI)

Unlike many traditional loan programs, eligible borrowers can finance up to 100% without the added cost of private mortgage insurance.

Flexible Student Loan Qualifying

Student loan debt is a reality for many medical professionals. This program offers flexible qualifying options for eligible borrowers, helping account for certain student loan situations during the mortgage qualification process.*

Future Employment Contracts May Qualify

Starting a new position soon? Eligible residents, fellows, and other qualified medical professionals may be able to use a signed employment contract to qualify before their first day on the job.*

Loan Amounts Up to $2 Million

Whether you’re purchasing your first home or looking for a larger property as your career grows, financing is available for a wide range of purchase prices.

Fixed and Adjustable-Rate Options

Choose the financing solution that best fits your goals with both fixed-rate and adjustable-rate mortgage options.

Who May Be Eligible?

The Medical Professional Program is available for many healthcare professionals, including eligible:

  • Physicians (MD and DO)
  • Dentists (DDS and DMD)
  • Physician Assistants
  • Nurse Practitioners
  • Certified Registered Nurse Anesthetists (CRNAs)
  • Pharmacists
  • Veterinarians
  • Optometrists
  • Podiatrists
  • Medical Residents
  • Fellows
  • Interns

Eligibility requirements apply.

Is This Program Right for You?

Whether you’re finishing residency, preparing to start a new position, or simply exploring your home financing options, this program may offer advantages that aren’t available through traditional mortgage products.

Every borrower’s situation is unique, and the best financing solution depends on your individual goals, income, and qualifications.

Let Us Help You Take the Next Step

If you’re a medical professional considering buying a home, we’re here to help you understand your options.

A First Home Mortgage Loan Officer can walk you through the program, answer your questions, and help determine whether the Medical Professional Program is the right fit for your homebuying journey.

Contact First Home Mortgage today to learn more about financing designed for medical professionals.

Prince George’s County Homebuyer Assistance Programs: Which One Is Right for You?

Posted on by Emily Gregory

Buying a home is one of the biggest financial decisions you’ll make, but it doesn’t have to mean coming up with a large down payment on your own. If you’re purchasing a home in Prince George’s County, you may qualify for one of several assistance programs designed to make homeownership more affordable.

Whether you’re buying your first home, working in an essential profession, or looking for financial assistance within designated areas of the county, there may be a program available to help.

Here’s a look at three of the most popular homebuyer assistance programs available in Prince George’s County.

Pathway to Purchase

Best for: First-time homebuyers who need help with down payment and closing costs.

The Pathway to Purchase Program is designed to help first-time buyers overcome one of the biggest barriers to homeownership—saving enough cash upfront.

Program Highlights

  • Up to $50,000 in down payment and closing cost assistance
  • 0% interest deferred loan
  • No monthly payments
  • Forgiven after 15 years of owner occupancy

You May Qualify If You:

  • Have not owned a home within the past three years
  • Plan to purchase a primary residence in Prince George’s County
  • Meet income requirements
  • Complete a homebuyer education course

For many buyers, this program can significantly reduce the amount of cash needed at closing.

Critical Workforce Program

Best for: Teachers, nurses, police officers, firefighters, EMTs, and other eligible critical workforce professionals.

Prince George’s County recognizes the importance of supporting the professionals who serve the community every day. The Critical Workforce Program provides financial assistance to eligible buyers working in approved occupations.

Program Highlights

  • Up to $50,000, or up to 25% of the purchase price
  • 0% interest deferred loan
  • No monthly payments
  • Can be combined with additional eligible assistance programs

You May Qualify If You:

  • Work in an eligible critical workforce profession
  • Meet income guidelines
  • Complete a homebuyer education course

This program can be especially valuable for buyers looking to maximize their purchasing power while staying close to the communities they serve.

Homeownership Equity Program (HEP)

Best for: Moderate-income buyers purchasing a home inside the I-495 Capital Beltway.

The Homeownership Equity Program is designed to encourage homeownership in designated neighborhoods while making housing more affordable for qualified buyers.

Program Highlights

  • Up to $30,000 in assistance
  • 0% interest deferred loan
  • No monthly payments
  • Forgiven at 20% per year over five years

You May Qualify If You:

  • Meet program income requirements
  • Purchase within the eligible service area
  • Complete a homebuyer education course

Because forgiveness begins after purchase, many homeowners can benefit from the assistance without long-term repayment if program requirements are met.

Which Program Is Right for You?

Each program serves a different type of buyer, but all share the same goal: helping more people achieve homeownership in Prince George’s County.

You may be a good fit if you are:

  • A first-time homebuyer looking for help with upfront costs
  • A teacher, nurse, firefighter, police officer, EMT, or other eligible essential worker
  • Purchasing a home within an eligible area of Prince George’s County
  • Looking for ways to reduce your out-of-pocket costs at closing

Depending on your situation, you may even qualify for additional mortgage programs that can be paired with these assistance options.

Let First Home Mortgage Help You Explore Your Options

Homebuyer assistance programs can make a meaningful difference, but every program has its own eligibility requirements, income limits, and property guidelines.

At First Home Mortgage, our experienced loan officers can help you determine which Prince George’s County assistance program best fits your situation, explain your financing options, and guide you through the homebuying process from application to closing.

If you’re thinking about buying a home in Prince George’s County, let’s talk about which program could help make your homeownership goals a reality.

  How Can We Help?