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Mortgage Interest Credit

Depending on your annual income, you may qualify for a mortgage interest credit. In order to receive this credit, you will need a Mortgage Credit Certificate (MCC). The IRS will require the MCC in order to grant the interest credit so be sure to speak with a Loan Officer to find out if you qualify…. Read More

Tips for Preparing for Tax Season

2019 has come to an end which means tax season is right around the corner. Soon it will be time to prepare your 2019 tax returns and it pays to be ready! Getting prepared early can not only save you time and stress but potentially money.  It’s especially important if you have experienced major changes… Read More

Calculating Your Home Equity

What is home equity? Equity is the portion of the home that you truly own and does not need to be repaid to any lender. How is home equity calculated? Current Appraised Value – Mortgage Loan Balance = Home Equity Subtract the amount you owe on your home loan/s from its appraised value to get… Read More

Which Renovations Have the Highest Impact on Your Home's Value?

Remodeling your home is a wonderful way to make it your own when you first move in, or to update the space as your needs and styles change over time. Since home renovations can be pricey, balancing your budget and wish list can be tricky. Fortunately, there are lots of projects that can make you… Read More

New Loan Limits!

Loan limits for Fannie Mae and Freddie Mac increase to $510,400 in 2020, an increase from $484,350 in 2019! The Federal Housing Finance Agency has announced the Fannie Mae and Freddie Mac conforming loan limits for mortgages for 2020. Each year, the baseline conforming loan limit is adjusted accordingly with the change in the average… Read More

PreScreen Opt-Out

Under the Fair Credit Reporting Act, Consumer Credit Reporting Agencies can share lists that contain the information of people who had recent credit inquiries, such as with mortgage applications. Companies, and sometimes individuals, purchase those lists with the intention of soliciting and selling additional credit and loan services, known as “Firm Offers”, to the unsuspecting… Read More

First Home Mortgage at the Kennedy Krieger Institute's Festival of Trees

First Home Mortgage was once again a proud silver sponsor of the Kennedy Krieger Institute’s annual Festival of Trees, for our sixth consecutive year! Our donated tree (pictured), was decorated and named “A Little Sparkle in the Season”. The Festival of Trees was first held in 1990 and has been an annual Baltimore tradition for… Read More

5 Tips for Hosting Thanksgiving in Your New Home

Golden leaves and crisp air mean the holiday season is nearly upon us, and Thanksgiving is right around the corner! Hosting Thanksgiving dinner for your family and friends is always rewarding, and the good news is – it’s still completely feasible right after a move. By following these 5 tips, you’ll be ready to welcome… Read More

Tom Draper Named BAAR Affiliate of the Year

The Bay Area Association of Realtors has named First Home Mortgage’s own Tom Draper as the 2019 Affiliate of the Year! This association represents Kent, Queen Anne’s, and Caroline counties. Tracy Cohee Hodges, First Home Mortgage VP/Area Manager, Eastern Shore Lending, stated “Affiliate of the Year is achieved by serving the real estate community above… Read More

FHA Revises Condominium Requirements

After a long-awaited update, the FHA is finally issuing a change to condominium guidelines. It was announced Wednesday that spot approvals are back, and steps are being taken in order to loosen eligibility requirements. With these revised guidelines, FHA is expecting the update to qualify an additional 20,000-60,000 condo units per year. Changes that will… Read More