CJMT, Author at Chris Jordan Mortgage Team

How can we protect our credit & identity?

September 14, 2017 CJMT No Comments

In response to the recent data breach at Equifax, lots of clients have been inquiring about what to do and what not to do with regard to their credit. Some of the clients are currently shopping for homes and others are not looking to qualify…

Expert Advise Home Buyer Strategy Home Buyer Tips Mortgage 101 Mortgage Planning Total Cash Required

Verifying your cash assets – Do’s and don’ts when buying a home

August 14, 2017 CJMT No Comments

Sourcing funds is one of the most cumbersome and time consuming aspects of the mortgage approval process. Lenders must verify where your cash is coming from and document any non-payroll large deposits, or unusual recurring deposits. Typically, a large deposit would be anything $1000 or…

Expert Advise Home Buyer Tips Misc Mortgage 101 Mortgage Advice

Termite Inspections

August 2, 2017 CJMT No Comments

Termite inspections are typically not a mortgage requirement. VA loans, however, do require a termite inspection with the exception of condos that are not on the ground floor. For all other loan types, a termite report would not be mandatory unless the appraiser were to…

Budgeting Home Buyer Strategy Home Buyer Tips Misc Mortgage 101 Mortgage Advice Mortgage Planning Purchase

Budgeting for a mortgage payment

July 31, 2017 CJMT No Comments

When determining how much you should spend on a mortgage payment, there are several factors you have to consider first. You first need to determine what your take home pay is. Lenders look at your gross income, but after Uncle Sam takes his cut, you…

Down Payment Assistance Home Buyer Tips Misc Mortgage 101 Mortgage Planning Purchase

Avoid your home sale contingency

July 13, 2017 CJMT No Comments

If you have ever written a contract with a home sale contingency, you already know that it puts you, as a buyer, at a serious disadvantage over your competition. If your home has plenty of equity and you know it will sell, but the timing…

D.C. Tax Abatement Home Buyer Tips Misc Mortgage 101 Mortgage Planning

DC Tax Abatement Program

June 22, 2017 CJMT No Comments

FHA Mortgage Home Buyer Tips Misc Mortgage 101 VA Mortgage

Is this condo FHA / VA approved?

June 13, 2017 CJMT No Comments

For anyone purchasing a condo with FHA or VA financing, the first step is to look and see if that condo building is on the FHA or VA approved list. This is very simple process and anyone can do it. First, you will need the…

Down Payment Assistance Home Buyer Tips Loan Origination Mortgage 101

Maryland Grant Assist Program

May 26, 2017 CJMT No Comments

The Maryland Grant Assist Program is just one of the programs available to eligible home buyers who use the Maryland Mortgage Program (MMP), also known as Maryland CDA. The Maryland Grant Assist program is a grant of 4% of the first mortgage that can be…

Home Buyer Tips Misc Mortgage 101 Mortgage Planning

Recast your mortgage vs. refinancing – the basics

May 16, 2017 CJMT No Comments

What is recasting? It's actually really simple, but it's not advertised very often, so most people have never even heard of it. Recasting your mortgage is simply making a large payment toward your principal balance, paying a one time processing fee and then having your mortgage…

Mortgage 101 Mortgage Planning

Cancelling/Terminating Mortgage Insurance – The basics

May 12, 2017 CJMT

If you are thinking about taking out a mortgage with mortgage insurance, or you currently pay mortgage insurance, the following information might be useful. The Homeowners Protection Act of 1998 covers the rules of cancellation of mortgage insurance for primary residence, single family homes purchased on or…

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