Fed's Halt on Rising Rates
February 1, 2019
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?
November 29, 2018
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
November 28, 2018
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
5 Home Loan Milestones
November 15, 2018
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
November 8, 2018
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?
November 2, 2018
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
What Causes Rates to Fluctuate?
October 25, 2018
An interest rate is a percentage of the amount of a loan paid for the use of money for a specified time. More simply put, it is the rate of interest charged on your mortgage loan. Interest rates are volatile, meaning they can fluctuate sharply and regularly. There are many elements that affect your mortgage… Read More
A Touch of Hocus-Pocus
October 18, 2018
Time to dress up your lawn! Halloween is right around the corner, so break out your most spook-tacular decorations! Getting into the holiday spirit and decorating can be a fun activity for the entire family. Whether you want to keep it simple with a few pumpkins, or totally transform your entire yard, let your imagination… Read More
What is Homebuyer Education, and Why Do You Need It?
October 11, 2018
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… Read More
Trending Home Features: Love It or Leave It
October 4, 2018
Home decorating trends are constantly changing and it’s hard to keep up with every new fad that emerges. Floral prints may be popping up everywhere at the moment, but those millennial pink kitchen appliances you bought at the beginning of the year are “so out” now! So, which trends should you follow and which should… Read More