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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 […]

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 […]

Homebuyer education, also called housing or pre-purchase counseling, helps homebuyers prepare for the process of purchasing a home and the challenges of being a new homeowner. Some loan programs, like the Maryland Mortgage Program (MMP), require homebuyer education courses. Recently, the Maryland Mortgage Program has made updates to their homebuyer education requirements to simplify and […]

A gig economy refers to a workplace in which temporary or flexible jobs are the norm, such as freelance or contract work, as opposed to permanent, full-time jobs.  There is no fixed salary, so income may be irregular and sometimes it may not even be documented.  Future income is also unpredictable while working freelance or […]

You’ve made it to the final step in the home buying process, closing. After all of the settlement documents have been signed and funds distributed, ownership of the property will transfer and the house is finally yours! Here’s what you can expect in the days leading up to your closing. Prior to Closing At least […]

Buying a home is a big, if not the biggest, purchase you are going to make. You may have heard there are a lot of costs when it comes to buying, and hearing the word “down payment” may strike a small sense of panic, but it doesn’t have to! There are many programs offered to […]

Sometimes you find a great house, but it needs a little bit of TLC. That is where a renovation loan comes in to the picture. A renovation loan, or 203(k), makes the process easier by allowing you to combine your renovation costs into your mortgage, helping you fund your home improvements. That means one loan […]

Each season has its own highlights and downfalls of buying, so when is the best time to purchase a new home? Take a look at the information below to help you navigate the buying seasons. Spring/Summer Pros: More Inventory: Most sellers choose to list their properties in spring/summer, so there are more options for homebuyers. Family […]

Scotsman Guide, the leading resource for Mortgage Originators, has released its 6th annual Top Mortgage Lenders. First Home Mortgage has been ranked 44th in Top Overall Volume in the nation. Since 2012, Scotsman Guide has been a platform for the nation’s best performing mortgage companies to showcase their success. The publication releases rankings based on […]

The results are in! Ask a Lender recently released their most comprehensive rankings of the Best Mortgage Lenders in the nation in several categories, including Best Mortgage Lenders, Best First-Time Homebuyer Lenders, Best FHA Mortgage Lenders, among several other categories.  Many of First Home Mortgage’s Loan Officers have been recognized as the best in each of […]

The Maryland Mortgage Program has announced their new Special Assistance Grant Program to assist homebuyers with down payment and closing costs while purchasing a home.  The MMP offers a range of programs that help make purchasing and owning a home more affordable.  With this Grant, eligible borrowers will receive $2,500 or $1,500 (depending on the […]

Rhode Island Housing (RIH) has introduced a new Extra Assistance Loan for first-time homebuyers, effective May 21, 2018.  This Extra Assistance Loan may be used towards the borrower’s down payment and/or closing costs.  RIH offers affordable and innovative lending opportunities, education, resources and programs to assist Rhode Islanders to buy, build and keep a good home. Extra […]