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You’ve heard the terms pre-qualification and pre-approval, but what do they mean? They are the same thing, right? Not quite! The terms have been used interchangeably, but their true definitions differ. We’re going to break it down and explain the difference between the two. Pre-qualification The very first step to take if you are ready […]

Get Pre-Qualified Complete a loan pre-qualification – Contact one of our loan officers to get started! Submit basic documentation – This can include pay stubs, bank statements, credit reports, and statements for any other debts or loans you might have. Your loan officer will let you know exactly what they need! Discuss what you can […]

In order to land the home of your dreams, it’s important you understand how to make a viable offer. This is especially important in a competitive market like the seller’s market we are currently in. Here are some tips for making a competitive offer on a home. Get Pre-Qualified Getting pre-qualified is one of the […]

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 […]

We are in the midst of a booming seller’s market. In real estate, a seller’s market occurs when the demand for homes is greater than the supply. This is the inverse of what happens in a buyer’s market, which is when there is plenty of supply but not as much demand for houses. As the […]

It takes some time to close even the most straightforward of home loans. These tips offer insight for avoiding pitfalls in between application and closing, so you can help make your loan process as quick and easy as possible! 1. Buying Large Items Avoid buying things like cars, boats, or other high-end items. Purchases like […]

Homebuyers are often not aware of what can cause issues within the home loan process and potentially sabotage your goals. Read these tips to learn some ways to avoid home mortgage sabotage! Credit Cards and New Debt Do not apply for any new credit of any kind! That creditor will show up on your credit […]

When researching the home buying and lending process, odds are you’ve encountered the acronym LTV at some point. But what does LTV mean and why does it matter? Read on to find out! What is LTV? LTV stands for loan-to-value ratio. Expressed as a percentage, LTV is the difference between the mortgage amount and the […]

Buying a home is one of the biggest investments you’ll make in your lifetime, if not the biggest. There are things you can do to better prepare financially. Save for a Down Payment While there are loan options available that allow for little to no down payment, you may find that putting down the standard […]

The United States government offers programs through various agencies which are designed to better serve borrowers who are in unique circumstances. Read on for more information about the most common government home loans available. FHA Loans The Federal Housing Administration, or FHA, insures FHA loans. FHA programs are available for borrowers with limited savings for […]

As far as fixed rate mortgages go, you have two main term options: 15-year or 30-year. But what’s the difference between the two aside from how long they are? How do you know which option is right for you? Read on to find out!   What is a Fixed Rate Mortgage? A fixed rate mortgage […]

Before you decide to refinance your home loan, it’s important that you understand how it works.  The process can seem confusing or overwhelming, but it doesn’t have to be. What is Refinancing? Refinancing is the process of replacing your existing mortgage with a brand-new loan. In short, it presents an opportunity to improve your current […]