Education Archives - Page 4 of 5 - Chris Jordan Mortgage Team

Termite inspector checking a home for wood-destroying insects

Termite Inspections When Buying a Home: What Mortgage Borrowers Should Know

Last updated: September 3, 2026 CJMT

A termite inspection—more accurately called a wood-destroying insect or WDI inspection—can be an important part of buying a home. But whether the inspection is actually required for the mortgage depends on the loan program, the property and sometimes what is discovered during the appraisal or…

Budgeting Education Home Buyer Tips Mortgage Planning

Budgeting for a mortgage payment

Last updated: August 27, 2026 CJMT

Buying a home involves more than determining how much a lender may approve you to borrow. It is equally important to determine what monthly mortgage payment comfortably fits your household budget. A mortgage payment that works on paper should also leave room for your other…

Buying a new home before selling your current home

Education Home Buyer Strategy Home Buyer Tips Mortgage Planning

How to Buy a New Home Before Selling Your Current Home

Last updated: August 31, 2026 CJMT

If you already own a home and want to purchase your next one before your current property sells, a home sale contingency can make your offer less competitive. Sellers often prefer offers that are not dependent on another property closing first. The good news is…

Washington DC row houses representing homeownership

D.C. Tax Abatement Down Payment Assistance Education Home Buyer Tips Mortgage Planning

DC Tax Abatement Program: Save on Property, Recordation & Transfer Taxes

Last updated: September 3, 2026 CJMT

Washington DC offers a valuable tax benefit that can significantly reduce both the upfront and ongoing costs of homeownership for eligible buyers. The Lower Income Home Ownership Tax Abatement, sometimes simply referred to as the DC Tax Abatement Program, can provide qualifying homeowners with an…

Education FHA Mortgage Home Buyer Tips Mortgage 101 VA Mortgage

Is this condo FHA / VA approved?

Last updated: September 12, 2026 CJMT

If you are buying a condominium with FHA financing or a VA loan, the condo project itself may also need to meet FHA or VA requirements. The good news is that finding out whether a condo may qualify is usually something we can help determine…

Homeowners comparing mortgage recast and refinance options

Education Home Buyer Strategy lower mortgage payment Mortgage 101 Mortgage Planning Refinance

Mortgage Recast vs. Refinance: What’s the Difference?

Last updated: September 1, 2026 CJMT

A mortgage recast can be a useful way to lower your monthly mortgage payment after making a substantial payment toward your loan balance. But before requesting a recast, it can also make sense to compare it with another option: refinancing. If mortgage rates have dropped…

Homeowners reviewing finances to cancel private mortgage insurance PMI

Education Mortgage 101 Mortgage Planning

How to Cancel Mortgage Insurance (PMI)

Last updated: September 2, 2026 CJMT

If you are currently paying private mortgage insurance (PMI), you may be wondering when you can have it removed from your monthly mortgage payment. For many conventional mortgages, federal law and investor guidelines provide several ways PMI may be cancelled or automatically terminated. The rules…

Couple reviewing finances before buying a home

Credit Tips Education Home Buyer Tips Mortgage 101 Mortgage Planning

Avoid Mortgage Sabotage: What NOT to Do Before Buying a Home

Last updated: September 1, 2026 CJMT

Some of the biggest mortgage problems happen before a homebuyer ever applies for a loan. A change that seems perfectly reasonable at the time—buying a new car, changing jobs, becoming self-employed or moving money between accounts—can sometimes make it harder to qualify for a mortgage.…

Homebuyer reviewing documents at a real estate closing

Closing Costs Education Escrows Mortgage 101 Total Cash Required

Closing Costs, Escrows and Prepaid Expenses Explained

Last updated: September 1, 2026 CJMT

When buying or refinancing a home, borrowers often hear the terms closing costs, escrows and prepaid expenses used together. Although all three can affect the amount of money needed at settlement, they are not the same thing. Understanding the difference can make your Loan Estimate…

Home appraiser evaluating a residential property

Education Home Buyer Tips Mortgage 101 Mortgage Planning

How Do Home Appraisers Determine a Property’s Value?

Last updated: September 3, 2026 CJMT

One of the most common questions homebuyers and homeowners ask is: How does an appraiser actually determine what a home is worth? An appraisal is much more than simply looking at a few recent home sales and averaging the prices. The appraiser analyzes the property…

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