Home Buyer Tips Archives - Chris Jordan Mortgage Team

5 Tips for Buying a Home in the DC-Metro Area in 2021

July 15, 2021 Christopher Jordan No Comments

In March of this year, ICE Mortgage Technology, a leading global provider of market data, published an article stating that the average time to close a purchase loan on a home was 53 days. But in the DC-Metro area, writing an offer with a close…

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Big changes to VA home loans in 2020

December 10, 2019 CJMT No Comments

Beginning January 2020, loan limit changes are happening! The maximum loan limit, starting January 2020, will be $1,500,000 across the country (no longer State or County specific). *Borrowers with partial VA Eligibility will want to review with me the amount they can purchase with no…

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Mortgage Credit Certificate (MCC)

December 10, 2019 CJMT No Comments

Budgeting Expert Advise Home Buyer Strategy Home Buyer Tips Low down payment Market Updates Maryland Maryland Mortgage Program Mortgage 101 Mortgage Advice Mortgage Planning

Conforming Loan Limits to Rise in 2020

December 2, 2019 CJMT No Comments

Some good news for those looking to purchase a home in 2020!!! The Federal Housing Finance Agency has announced that the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac will rise in 2020. Old conforming loan limit -…

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Mortgage rates continue to confuse consumers

May 20, 2019 CJMT No Comments

Mortgage rates are a popular topic online and in the news. These days, information travels fast and everyone seems to be an expert on the topic of mortgage rates. The trouble with all this information flying around is that much of it is inaccurate, or…

Closing Costs Down Payment Assistance Expert Advise Home Buyer Strategy Home Buyer Tips Market Updates Maryland Maryland Mortgage Program MCC Mortgage 101 Mortgage Advice Mortgage Planning

Maryland Mortgage Program adds new Flex loan options to help more buyers

May 8, 2019 CJMT No Comments

The Maryland Mortgage Program (MMP) has always been geared toward helping first time home buyers in Maryland with down payment and closing cost assistance. MMP defines a first time home buyer as a person who has not owned a home in the most recent three…

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When is mortgage interest tax deductible now?

December 11, 2018 CJMT No Comments

In years past, mortgage interest has been tax deductible for a large majority of home owners, however with the new tax law changes in 2018, not as many home owners will be writing off their mortgage interest. Here is the inside scoop: DO YOU ITEMIZE…

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Don’t trust your online credit score

September 25, 2018 CJMT No Comments

Since the start of 2017, the Consumer Financial Protection Bureau (CFPB) has cracked down on all three credit bureaus for deceiving consumers with the credit scores that they were paid to provide. The credit scores that were provided to consumers were said to be the…

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Credit counseling & debt management

September 14, 2018 CJMT No Comments

If you are struggling to manage your credit and your finances, you could greatly benefit from speaking with a credit and debt management counselor. We recommend InCharge Debt Solutions. InCharge Debt Solutions is a 501(c)(3) nonprofit organization offering confidential and professional credit counseling, debt management services,…

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Mortgage Insurance Explained

March 21, 2018 CJMT No Comments

For any Conventional mortgage with less than 20% down, mortgage insurance is required. Mortgage insurance is a form of insurance that protects the lender in the case of a default on the mortgage. The actual cost of the mortgage insurance and how it can be…

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