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Buying a Home with Student Debt
Buying a Home with Student Debt

With graduations upon us, graduates past and present are reminded of the price of their education. According to the U.S. Federal Reserve, in 2021 44.7 million Americans have student loan debt and in Maryland, the average balance is $36,689. Many potential homebuyers think with a mound of student debt it will be nearly impossible to […]

May 19, 2021
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5 Things to Avoid During the Home Loan Process
5 Things to Avoid During the Home Loan Process

When you’re pre-qualified for a home loan or beginning the mortgage application process, there are some actions you should avoid taking. These things could potentially delay your mortgage closing or even put you at risk of not being approved at all. Here are some things to avoid before your loan closes. Avoid Making a Large […]

November 13, 2020
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Does Your Credit Score Spook You?
Does Your Credit Score Spook You?

Your credit score affects more than just your mortgage rate. It also plays a role in how much you will get approved for, what you need to put down, and what you will pay for your private mortgage insurance. While it is not impossible to buy a home with a lower score, you will need […]

October 30, 2020
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Types of Mortgage Loans
Types of Mortgage Loans

There are many mortgage loan types. The one that is best for you is dependent on your particular situation and needs. It’s important to understand what options are available and what makes each one unique. Here are some of the primary mortgage loan types. Conventional Home Loans Conventional home loans are what most often come […]

October 23, 2020
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Home Loan Milestones
Home Loan Milestones

Buying a home may seem like a daunting process but being prepared can ease your mind. 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 home loan milestones of the home […]

October 09, 2020
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Things to Consider Before Buying a Vacation Home
Things to Consider Before Buying a Vacation Home

Vacation homes can be a great investment, whether you plan to use them to rent out, for after retirement, or simply to stay in on vacations. Buying a second home is a big decision, and it’s imperative you take the time to consider the various financial and lifestyle implications associated with this big purchase. Here […]

August 28, 2020
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5 Tips for Building Equity in Your Home
5 Tips for Building Equity in Your Home

Equity can be defined as the difference between the current market value of a property and the principal balance of all outstanding loans. This is calculated by subtracting your mortgage balance from the market value of your home. Building home equity is important because it can be converted into cash if need be through a […]

August 07, 2020
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When is the right time to buy your first home?
When is the right time to buy your first home?

Purchasing your first home is an exciting adventure with plenty of benefits. Homeownership can provide valuable tax breaks and offers an opportunity to build equity rather than spending rent money with no potential return. It is also an important personal and long-term financial decision, so it makes sense to prepare ahead of time and be […]

July 10, 2020
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Mortgage Calculators
Mortgage Calculators

Here at First Home Mortgage, we strive to deliver excellent customer service from the start. We provide tools and resources to better prepare you for purchasing or refinancing your home. Whether you’re buying a home for the first time, you’ve purchased before, or you are refinancing, you will have questions and concerns. “What will my […]

May 15, 2020
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DTI Ratio: What it Means for Your Mortgage, and 5 Ways to Improve it!
DTI Ratio: What it Means for Your Mortgage, and 5 Ways to Improve it!

What Does DTI Ratio Mean for your Mortgage? The debt to income ratio is a calculation of the percentage of your monthly debt payments, compared with your gross (pretax) monthly income. Monthly debt payments include mortgage payments, car payments, and any other minimum loan or card payments. Living expenses like gas, groceries, and utilities are […]

April 16, 2020
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Down Payment Tips for Gen Z
Down Payment Tips for Gen Z

Are you a Gen Zer unsure about your financial responsibility when it comes to buying a home? Are you worried about if you have enough saved for your down payment? Buying a home doesn’t have to be an overwhelming process or a financial drain. How should you prepare? 1. Down Payments Down payments seem to […]

March 12, 2020
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