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If you’re planning to buy a home, you may be wondering whether your credit score is high enough to qualify for a mortgage. The good news? You don’t necessarily need perfect credit to become a homeowner. While your credit score plays an important role in the mortgage approval process, it’s only one part of your […]

When you’re saving to buy a home, the down payment tends to get most of the attention. But there’s another expense homebuyers should plan for: closing costs. If you’ve been wondering what closing costs are, how much they cost, or what you’re actually paying for, you’re not alone. Understanding mortgage closing costs ahead of time […]

Over the last three years, First Home Mortgage’s First Home Heroes program has helped finance more than 270 homes totaling over $105 million for the people who serve our communities. Through the program, First Home has also waived more than $500,000 in eligible First Home Mortgage fees, helping reduce upfront costs for qualifying educators, first […]

What persistent inflation and recent market volatility could mean for homebuyers A growing economy is usually good news. But when inflation is already running too high, strong economic reports can create a challenge for mortgage rates. That is the situation markets are working through now. The economy continues to grow, consumers are still spending, and […]

Home appraisal reports are getting an update. Fannie Mae and Freddie Mac are transitioning to UAD 3.6, a new appraisal reporting standard designed to create a more standardized, data-driven, and consistent way to report property and market information. While UAD 3.6 may sound technical, the idea behind it is simple: modernize how appraisal information is […]

For 36 years, First Home Mortgage has been helping Maryland families achieve homeownership. Today, we’re proud to share another milestone in that story. According to the latest rankings from the Baltimore Business Journal, First Home Mortgage has been named the largest residential mortgage lender in the Greater Baltimore area, originating more than $658 million in […]

If you’re buying a home with a VA loan, you may hear about something called the VA Escape Clause. Unfortunately, it’s one of the most misunderstood parts of the VA loan process. Some buyers worry it makes their offer less competitive. Some sellers and agents assume it’s an added obstacle. In reality, the VA Escape […]

If you’ve been watching mortgage rates lately, you’ve probably noticed they haven’t moved dramatically. At the same time, they also haven’t come down as many buyers and homeowners were hoping. So what’s keeping rates elevated? Here’s a look at the biggest factors influencing today’s mortgage market. The Economy Is Holding Steady, but Inflation Remains the […]

Home Financing Designed for Medical Professionals A Mortgage Program Built Around Your Career Medical professionals dedicate years to education and training before beginning their careers. While the future earning potential is often strong, buying a home during residency, fellowship, or the first years of practice can feel out of reach. Between student loan debt, starting […]

Buying a home is one of the biggest financial decisions you’ll make, but it doesn’t have to mean coming up with a large down payment on your own. If you’re purchasing a home in Prince George’s County, you may qualify for one of several assistance programs designed to make homeownership more affordable. Whether you’re buying […]

VA Loans vs. Conventional Loans: Separating Fact from Fiction When it comes to purchasing a home, many buyers and even some real estate professionals assume that a conventional loan is always the stronger financing option. One loan program that is often misunderstood is the VA loan. The truth is that VA loans can be an […]