Author: Emily Gregory

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.

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.

VA Loans vs. Conventional Loans: Separating Fact from Fiction

Posted on by Emily Gregory

VA Loans vs. Conventional Loans: Separating Fact from Fiction

When it comes to purchasing a home, many buyers and even some real estate professionals assume that a conventional loan is always the stronger financing option. One loan program that is often misunderstood is the VA loan.

The truth is that VA loans can be an excellent financing solution for eligible veterans, active-duty service members, and certain surviving spouses. In many cases, a qualified VA borrower can be just as competitive as a buyer using conventional financing.

Understanding the VA Loan Advantage

VA loans were created to help those who have served our country achieve homeownership with favorable financing terms. Backed by the U.S. Department of Veterans Affairs, these loans offer benefits that are difficult to find with many other mortgage programs.

Some of the advantages of VA financing may include:

  • No down payment requirement for eligible borrowers
  • Competitive interest rates
  • No monthly mortgage insurance requirement
  • Flexible qualification guidelines
  • Limited closing costs and consumer protections

These benefits can help make homeownership more accessible while keeping monthly housing expenses manageable.

Why the Misconception Exists

One of the most common misconceptions is that VA loans are more difficult to close or present greater risk to sellers. While every transaction is unique, the loan type itself does not determine the strength of an offer.

Factors such as a buyer’s credit profile, income stability, assets, pre-approval status, and overall financial qualifications often have a much greater impact on the strength of a purchase offer than whether the financing is VA or conventional.

A fully underwritten and well-prepared VA borrower can be in a very strong position when competing for a home.

Focusing on the Buyer, Not the Loan Type

When evaluating an offer, it is important to look beyond assumptions about loan programs. The strength of a transaction is determined by the qualifications of the borrower, the quality of the financing approval, and the ability to successfully reach the closing table.

For eligible veterans and service members, a VA loan can provide significant advantages without sacrificing competitiveness in today’s market.

Learn More

Watch Ryan Paquin, The VA Loan Coach, discuss the truth about VA loans and how they compare to conventional financing:

Watch the Video Here

If you have questions about VA loan eligibility or want to explore your financing options, contact a First Home Mortgage loan officer to learn more about the benefits available to those who have served. 

First Home Mortgage Named One of Mortgage Executive Magazine’s Top 50 Mortgage Companies in America for 2025

Posted on by Emily Gregory

First Home Mortgage is proud to announce that we have been recognized by Mortgage Executive Magazine as one of the Top 50 Mortgage Companies in America for 2025.

This national recognition highlights mortgage companies that demonstrate excellence in production, service, leadership, and overall impact within the industry. For First Home Mortgage, it represents something even more meaningful: the dedication of our employees, the trust of our clients, and the strength of the relationships we have built over the years.

Since our founding, First Home Mortgage has remained committed to helping individuals and families achieve the dream of homeownership while providing exceptional support to our referral partners and local communities. That commitment continues to drive everything we do, from the first conversation with a prospective homebuyer to the day they receive the keys to their new home.

“This recognition is a reflection of the incredible people who make First Home Mortgage what it is,” said Matt Nader, President of First Home Mortgage. “Our loan officers, operations teams, support staff, and leadership team work tirelessly to provide an outstanding experience for our clients and partners. We are grateful to be recognized among the nation’s top mortgage companies and remain focused on serving our communities with integrity, expertise, and care.”

Being named to Mortgage Executive Magazine’s Top 50 list is the latest milestone in First Home Mortgage’s continued growth and success. As the mortgage industry evolves, our mission remains unchanged: delivering innovative financing solutions, personalized guidance, and exceptional service to every client we serve.

We extend our sincere thanks to our employees, clients, referral partners, and community organizations whose trust and support have made this achievement possible.

Together, we look forward to continuing to help more families achieve homeownership and create lasting impact in the communities we serve.

About First Home Mortgage

First Home Mortgage is a full-service residential mortgage lender committed to helping individuals and families achieve homeownership through personalized guidance, innovative lending solutions, and exceptional customer service. Since 1990, First Home Mortgage has proudly served homebuyers and homeowners across the Mid-Atlantic and beyond, building lasting relationships with clients, referral partners, and communities.

First Home Mortgage Recognized Among Scotsman Guide’s 2026 Top Mortgage Lenders

Posted on by Emily Gregory

First Home Mortgage is proud to announce its recognition on the Scotsman Guide 2026 Top Mortgage Lenders rankings, a distinguished honor that highlights excellence and performance within the mortgage industry.

For more than a decade, the Scotsman Guide rankings have served as one of the mortgage industry’s most respected benchmarks, recognizing lenders that demonstrate outstanding production, consistency, and impact in residential lending. Earning a place on the 2026 rankings reflects First Home Mortgage’s continued commitment to helping individuals and families achieve homeownership while delivering exceptional service across the communities it serves.

This year’s ranked lenders collectively closed more than 2.1 million loans totaling over $750 billion in volume, placing First Home Mortgage among an elite group of organizations shaping the future of residential lending.

“This recognition is a testament to the hard work, dedication, and expertise of our entire team,” said President Matt Nader. “We are incredibly proud of what we’ve built together and grateful for the trust our clients and partners place in us every day.”

As the housing market continues to evolve, First Home Mortgage remains focused on delivering personalized guidance, innovative lending solutions, and an exceptional experience for borrowers, referral partners, and communities alike.

First Home Mortgage is honored to be recognized among the nation’s top mortgage lenders and looks forward to continuing its mission of helping more people achieve the dream of homeownership.

Celebrating 25 Years: Cathy Ocharzak’s Legacy at First Home Mortgage

Posted on by Emily Gregory

First Home Mortgage is proud to celebrate a major milestone as Cathy Ocharzak, Branch Manager of the Hagerstown branch, marks 25 years with the company on April 9th.

With more than 30 years of mortgage originating experience, Cathy has built an outstanding reputation throughout the tri-state area and within the mortgage industry. Over the course of her career, she has been recognized as a top originator of Maryland CDA loans for first-time homebuyers, earned multiple Leaders Club honors at First Home Mortgage, and received Affiliate of the Year awards through the Pen Mar Regional Association of Realtors. Her commitment to both clients and the industry has also included serving on the Pen Mar Board of Directors and Education Committee.

Throughout changing markets and evolving industry conditions, Cathy has remained a trusted leader and a valued member of the First Home team. Her dedication to helping homebuyers and building lasting relationships has played a significant role in the continued success of the Hagerstown branch.

As part of an exciting new chapter, Cathy has begun transitioning leadership responsibilities to her daughter, Christina Ocharzak, who will soon assume the role of Branch Manager for the Hagerstown branch. Christina has already established herself as a knowledgeable and dedicated loan officer serving clients across Maryland, Pennsylvania, and West Virginia. Known for her commitment to communication and customer service, Christina is passionate about guiding clients through the mortgage process and creating a smooth, informed experience from application to closing.

Together, Cathy and Christina represent both the strong foundation and bright future of the Hagerstown branch. Their shared commitment to client relationships, community involvement, and exceptional service will continue to support the branch’s growth and success for years to come.

Congratulations to Cathy Ocharzak on an incredible 25 years with First Home Mortgage and best wishes to both Cathy and Christina during this exciting transition for the Hagerstown team.

Alexander Jaffe Named a 2026 Top Producer by National Mortgage News

Posted on by Emily Gregory

We are proud to congratulate Alex Jaffe on being recognized among the 2026 Top Producers by National Mortgage News. While this honor reflects strong performance in 2025 loan production, it is ultimately a reflection of a long track record of consistency, experience, and client-focused service.

Alex serves as Branch Manager of First Home Mortgage’s Chevy Chase office and is a Senior Loan Officer supporting clients across Washington, DC, Maryland, Virginia, and North Carolina. Over the course of his career, which began in 2007, he has closed more than 2,500 loans and has ranked among the top loan officers in the nation by production volume for nearly a decade.

His impact extends beyond production. Alex is deeply embedded in the DMV real estate community, where much of his business is driven by repeat clients and referrals from trusted partners. He has also played an active role in education, teaching advanced real estate finance courses for the Greater Capital Area Realtors Association and leading hundreds of first-time homebuyer classes.

Alex’s expertise spans a wide range of loan programs, including conventional, FHA, VA, jumbo, and renovation financing, with a particular strength in more complex transactions such as condominiums and co-ops. His approach is rooted in communication and transparency, ensuring that clients fully understand each step of the process.

His commitment to the industry and community has also been recognized through notable achievements, including receiving the Key to the City from the DC Housing Finance Agency for closing the first DC Open Doors loan and earning a Legends Award for his continued impact within the program.

Recognition as a Top Producer is not simply about volume. It reflects a sustained ability to adapt, lead, and deliver in an evolving market. Alex’s inclusion on this year’s list is a natural extension of the reputation he has built over nearly two decades.

We are proud to celebrate this achievement and look forward to Alex’s continued success and leadership.

Do All VA Loans Have a Funding Fee? Not Always.

Posted on by Emily Gregory

VA loans are one of the most powerful benefits available to eligible veterans, active-duty service members, and certain surviving spouses. They offer flexible qualification guidelines, competitive rates, and often require little to no down payment.

But one part of the VA loan that often causes confusion is the funding fee.

Many people assume it applies to everyone. The reality is a little more nuanced.

What Is the VA Funding Fee?

The VA funding fee is a one-time cost that helps support the VA loan program. It allows the program to continue offering benefits like no down payment and no monthly mortgage insurance.

This fee can either be paid upfront at closing or rolled into the total loan amount.

The Common Misconception

A lot of borrowers believe that if you use a VA loan, you automatically have to pay the funding fee.

That is not always the case.

Who May Be Exempt from the Funding Fee?

Some borrowers may qualify for a full exemption based on their service history or status. This can include:

  • Veterans with a service-related disability
  • Active-duty service members who have received a Purple Heart
  • Certain surviving spouses

If you fall into one of these categories, the funding fee may be waived entirely.

Why This Matters

An exemption from the funding fee can make a meaningful difference. It may reduce your upfront costs at closing or lower the overall loan amount if the fee would have been financed.

For many buyers, that added flexibility can make the path to homeownership a little smoother.

Understanding Your Benefits

VA loans are not one-size-fits-all. Every borrower’s situation is different, and understanding what you may or may not be responsible for is an important part of the process.

If you are considering using your VA benefit, taking the time to explore your eligibility and potential exemptions can help you make more informed decisions.

Watch the Quick Breakdown

For a short, easy-to-follow explanation, check out this quick video:

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