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Top Loan Originators in the Country 2018- Mortgage Executive Magazine

Once again, Mortgage Executive Magazine compiled a list of the Nations Top 1% of Mortgage Originators. To be eligible for such an achievement, each Loan Originator was required to produce a minimum of $30 million in 2018. These leading mortgage professionals continually dedicated their time and energy and worked extremely hard to make sure their clients received… Read More

New Down Payment and Closing Cost Assistance Loans

First Home Mortgage is excited to roll out a new program to assist first-time homebuyers, community partners and veterans with down payment and closing cost assistance. The FHLB program provides loans up to $7,500 to homebuyers that can be used towards the down payment and/or closing costs of their new home. These loans are forgivable… Read More

HomeAbility Product from the Maryland Mortgage Program

The Maryland Mortgage Program has announced their new HomeAbility program to assist disabled homebuyers in Maryland with down payment and closing cost assistance. Up to 105% financing is available through HomeAbility. This new program will replace the Department’s previous Homeownership for Individuals with Disability Program (HIDP). Highlights of the Program First Mortgage – LTV of 80%;… Read More

Fed's Halt on Rising Rates

The week of January 27, 2019, the Federal Reserve had their 2-day rate-setting meeting and decided not to raise interest rates. Although the Fed does not directly affect long-term mortgage rates, this is a positive outcome for borrowers looking to purchase a new home or refinance to a lower fixed-rate. Mortgage interest rates have been… Read More

Can You Buy a Home With Student Debt?

According to The Institute for College Access & Success, about 65% of college seniors who graduated in 2017 had student loan debt. In Maryland, the average amount of debt was $29,314. Many potential homebuyers think with a mound of student debt it will be nearly impossible to purchase a new home. Luckily, there are options… Read More

Maximum Conforming Loan Limits Announced for 2019

The Federal Housing Finance Agency (FHFA) announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2019. Starting January 1, 2019, in most of the U.S., the maximum conforming loan limit for one-unit properties will be $484,350, an increase from $453,100 in 2018. FHFA’s house price index… Read More

New Down Payment Assistance Loan - Chenoa Fund

Now available, Chenoa Fund is an affordable housing program provided through an FHA approved, federally chartered government agency. This program specializes in providing down payments for borrowers receiving an FHA 1st mortgage. 100% financing is made possible by 3.5% in down payment assistance from the Chenoa Fund. This program is available to both first-time and… Read More

5 Home Loan Milestones

Buying a home may seem a bit complicated, and sometimes it can be. It is important to understand what to expect when preparing to buy a home, and what to expect during the home buying process. Below we’ve provided a short outline of the five main milestones of the home buying process. Pre-Qualification You’re ready… Read More

Preparing Your Home for Hosting

This time of year is always a special time of year. The holidays are right around the corner, and it’s time to celebrate! One of the biggest joys of the holiday season is getting to spend time with family and friends. If you are hosting company for the holidays, the key is to prep in… Read More

Why Is a Home No Longer Pending?

A pending sale means the seller has accepted an offer but the deal hasn’t closed yet. A property is placed in pending status when the contract is executed; when the contract is executed, in other words, the property is no longer defined as an active listing. A home will remain pending until all legal work… Read More