The Mortgage Matchmakers Blog

Introducing the Debt Service Coverage Ratio (DSCR) loan program - a game-changer for real estate investors! This program provides access to mortgage financing based on your property's cash flow, without personal income requirements. Learn how the DSCR loan program can help take your real estate business to the next level.

This blog post discusses the recent reduction in Federal Housing Administration (FHA) mortgage insurance premiums (MIP). The MIP is a fee added to the monthly mortgage payment for FHA loans and is designed to protect the lender in case of default. The reduction, from 0.85% to 0.55%, is expected to save borrowers approximately $800 per year on their mortgage payments. The blog also highlights the benefits of FHA loans, including lower down payment requirements and more lenient credit score requirements. The blog concludes by stating that the reduction in MIP may make FHA loans more affordable and accessible to a wider range of borrowers and that it may be a good time to consider taking the leap into homeownership.

Are you looking for a team of mortgage experts who can guide you through the home buying process with ease and professionalism? Look no further than the Sherry Riano Team! Recently recognized by First Heritage Mortgage as a top-performing loan officer and a proud member of the 2022 President's Club, this team is dedicated to helping their clients achieve their homeownership dreams. With their expertise, experience, and commitment to personalized service, the Sherry Riano Team is the perfect choice for anyone looking to buy a home.

Celebrate National Margarita Day in style with the Equity Margarita, a delicious and unique twist on the classic cocktail. This margarita combines reposado tequila, pineapple juice, lime juice, and honey syrup for a sweet and sour flavor with a touch of tropical taste. The salt rim and pineapple wedge garnish add the perfect balance of saltiness and sweetness. Mix up a batch of these delicious margaritas and raise a glass to National Margarita Day!

The Sherry Riano Team is thrilled to announce that we have once again been named a winner of the Expertise.com Top 20 Mortgage Brokers for 2022 in Raleigh AND Top 16 Mortgage Brokers for 2023 in Durham North Carolina.

If you were choosing between renting and owning, which would you choose? When renting, it seems that every month is easier than the one before, making us think more and more about whether or not to buy. The opposite is true for those who own their homes – each double mortgage payment is a reminder of why they decided to move into their home in the first place. Want to compare the two side by side? Dig into our latest post!

Reaching your dream home has never been this easy! Are you a first time homeowner? Are you planning to buy a new home in the near future? Homeownership may be one of the biggest investments most people will make. Knowing the tax benefits of homeownership can save you some money when it's time to file your taxes next year.

When it comes time to choose the right type of mortgage for your new home or refinance, one of the most significant decisions you’ll make is whether to go with a fixed rate mortgage or an adjustable rate mortgage (ARM). A fixed-rate mortgage is a popular choice among borrowers who want the stability and predictability of an interest rate that never changes. However, your unique financial goals and plans for the future may make an ARM the better choice for you.

Just getting your house on the market can feel like a marathon. You might be trying to get renovations done to increase your asking price or working on staging so buyers can see the potential of your space. Once you get your home listed, it may feel like the biggest hurdle is over.

Earlier this month, Federal Reserve officials increased the federal funds rate by 0.25 percent, marking their first rate hike since 2018. You might be wondering why they would do this amid high inflation and rising gas prices. If you’re looking to buy or sell a home, you want to know how this rate hike, and more expected to come throughout the year, will impact you. Let’s check out what you can expect.

When it comes to selling your home, you probably want to follow the same advice most of us have heard about the stock market: buy low and sell high. Appreciation of your home’s value usually happens naturally over time. Still, your local market and the time of year you’re selling can also impact your sale price.

Interest rates are starting to rise, and with already high home prices, many buyers count themselves out of being able to buy a home. But don’t walk away so quickly!As you’re calculating what you can afford and how much your monthly mortgage payment might be, you could be making a big mistake by not considering both fixed and adjustable-rate mortgages.

If you’re considering filing for bankruptcy or have already gone through the process, you’re probably wondering how this affects your ability to get a mortgage, and if you can even qualify for one at all. It can be more difficult to get approved for a mortgage after bankruptcy, and there’s likely to be fewer loan programs for you to choose from. But the good news is that, yes, it is possible to qualify for a loan following bankruptcy.

When you decide to buy a home, you’re faced with many questions that you need answers to. Do I make enough income to buy a house? How much of a house can I afford? What kind of mortgage am I able to get? Getting pre-qualified for a mortgage loan can give you initial answers to these questions.

Like the seasons of the year, there are seasons of our lives when our housing needs transition too. A key leap is when you realize the need to move to a new house and sell your current one. Most of the time, this switch is because your family is growing and you need more space, or on the other end of the spectrum when your children have moved out, and you’re looking to downsize.

You’ve found the perfect condo. It’s located in a great part of town, it offers convenient amenities, and it’s a great place for you to call home. But in the process of learning more about the property, you discover that the condo is non-warrantable. What does this mean for you and your potential new home?

Remodeling your home is an exciting journey that lets you bring to life the vision you have for your space. While most of us have no shortage of ideas when it comes to how we want to set up our homes, you may need some backup to turn those plans into a final product.

You’re ready to buy a new house. Congratulations! You’ve probably already started searching online, and maybe you’ve enlisted the help of a real estate agent. You know the next step is to secure financing, but you’re also wondering what else you should expect from this journey.

The days are getting colder and fall foliage is turning brilliant shades of red, yellow, and orange, which can only mean one thing – the holiday season is just around the corner!

With Halloween coming up, many homeowners are thinking about decorating their front porches and yards to participate in the spooky shenanigans. As you’re reading this, you might be preparing your candy for trick-or-treaters and maybe even chilling some wine for the adult participants.

Buying a home is one of the biggest purchases you’ll ever make. So, it makes sense that you’d want to do it at the perfect time, when you can get the best deal on your investment. There will always be lots of things you’re considering when making such a big life decision.

FAIRFAX, Va. — First Heritage Mortgage, LLC is pleased to announce it ranked 14th on the Fastest Growing Companies List for 2021 by the Washington Business Journal. This annual list includes 75 companies in the Greater Washington area that are locally headquartered and privately owned, who have achieved the highest average revenue growth between 2018 and 2020.

Life in the country offers peace, quietness, and beauty that isn’t always found in the hustle and bustle of cities. Maybe you’ve lived in a rural town your whole life, or perhaps you’re seeking a change of pace and looking to move outside a major metropolitan location.

Your home environment has a big impact on your daily life. As they say, what’s on the inside reflects on the outside. If your home is cluttered, it can be harder to concentrate and get things done. On the other hand, when your home is neat and organized, it fosters a positive environment that supports your productivity and empowers you to reach your goals.

There are many reasons why you should buy your home with a real estate agent. They know the ins and outs of the industry and your local market, they have connections that can win you the house you love, and their keen negotiation skills can help you stay in line with your budget.

The moment has come: you’ve saved up for your down payment, gotten your finances in order, set a budget, and are ready to buy a house. Shopping for a home is the fun part of becoming a homeowner. But before you start looking around to see what’s on the market, it’s best to determine what type of home to buy, so you’re not overwhelmed with options.

FAIRFAX, Va. — First Heritage Mortgage, LLC has been recognized as one of the largest private companies in Greater D.C. by the Washington Business Journal. This annual list includes 105 companies in the Washington, D.C., metro area that are locally headquartered and privately owned. Ranked by their total 2020 revenue, FHM is the 78th largest company on the list, growing from $56.44 million in 2019 to $141.24 million in 2020.

Even if you’re buying a home for the first time, it’s probably not the first time you’ve heard or received advice about mortgages. While some guidelines have changed over time, other tips you might have received have never been true at all. Advice can be helpful, but in one of the most important financial decisions of your life, you’ll want to make sure it’s based in fact.

Everyone gets excited about buying a new home, but selecting the loan program you’ll use and figuring out how much money you should put down aren’t typically met with as much enthusiasm. While figuring out the financing may not seem as interesting, it doesn’t have to be an overwhelming or confusing experience.

Home prices have been steadily increasing, especially throughout the pandemic. In several markets, prices were already high to begin with, leaving many buyers wondering if they’ll ever be able to afford a home in their desired location.

Just like children or a spouse, dogs are a big part of the family! It’s important to consider how they will adjust and respond to home renovation projects. If your home improvement plans call for several contractors working inside areas of your home where your furry friend usually roams, you’ll want to make the process as stress-free as possible for them.

FAIRFAX, Va. – First Heritage Mortgage, LLC celebrates its 25th anniversary today. Tracing its roots to Heritage Funding, which opened its doors in 1996 as the builder lending unit of Stanley Martin Homes. Today, First Heritage Mortgage celebrates a quarter-century of innovation, marketplace expansion, forward-thinking approaches, and staying at the digital forefront of home lending.

You’re already visualizing your dream: owning your own house. A space for you to call your own. A place you can design to truly be your own. That’s the goal for many new homeowners.

Whether you’re buying your first home or upgrading to suit your current needs, the first step in the process for many buyers is determining their purchase limit and what financing they can qualify for.

Searching for the right home for your family’s needs and expectations might lead you to consider building your own custom home. Maybe you want a wraparound porch, or an open-space interior design, or a gourmet kitchen.

Everyone gets excited about buying a home, and even more so if it’s your first. For most buyers, it’s fun to go to open houses and take a look at all that’s out there on the market. You get lots of ideas and inspiration for fine-tuning and customizing the house that will ultimately be the best fit for you.

Rates dropped to historic lows over the past year and a half, with many homeowners taking advantage of these market conditions and refinancing their mortgages. Refinancing to a lower rate can save you big on your monthly payment and the overall interest you’ll end up paying on your loan.

Being your own boss comes with a lot of positives: you get to set your schedule, you’re calling the shots, and it usually means you’re doing something you love. When you’re applying for a mortgage, having self-employment income can pose some challenges, though.

Purchasing a home, whether it’s your first or you’re moving to one better suited to your current needs, is an exciting time! Many buyers enjoy the house-hunting process and finding the right home for their needs and budget.

When you’re buying a home and taking out a mortgage, you want to find a quality lender that also gives you a great deal. It’s such an important life decision, so most buyers want to compare their options and find the best fit.

You might not be aware, but the housing market has its ups and downs, just like other cyclical industries. It’s advantageous to time your home transactions to align with the market conditions favorable to your situation, such as buying when prices have dipped or selling when home values are higher.

A home is a huge investment, and not just when it comes to the dollar value. We invest our time and energy into making our homes personalized and unique places. They become oases where we can escape the busyness of our routines.

Becoming a homeowner can feel like a lot of work. You’ve got to plan your finances, find the right area, and then settle on the perfect house. Luckily there are more programs and resources than ever before to help you along your journey.

Are you interested in improving your home’s energy efficiency, and more importantly, lowering your homeownership costs? Most everyone would answer yes. A better question that’s usually on your mind when considering home upgrades is whether or not they will create enough savings to justify the upgrade costs.

When you’re financing a house, there are many terms and processes you might not be familiar with, especially if you’re a first-time buyer. Most buyers consider their interest rate the single most important aspect of their loan, so getting the best rate is critical.

Last year was exceptional for many reasons. For homeowners, an unexpected positive result of the pandemic was historically low interest rates. These low rates resulted in the most refinances in nearly two decades. While many Americans took advantage of these cost savings and were able to lower their monthly mortgage payments, there are still millions who haven’t been able to.

Summertime is here! For most homeowners, that means sunny days, warmer weather, and more time spent outdoors. You might be planning to host a barbecue and invite friends and family over or to simply relax and soak in some sun rays. Whether you plan to welcome a large party or enjoy some solitude, now’s the time to start getting your back yard ready for the summer.

We’ve all adjusted to some form of working from home during the COVID-19 pandemic. What may have started out as make-shift desks and valiant attempts at perfecting your video chat background have now become a standard part of the workplace culture.

If you live in a condominium, townhouse, or a single-family home in a planned development, chances are you have a homeowner’s association (HOA). HOAs offer key benefits that people enjoy in their communities, such as managing maintenance, maintaining the exterior and outdoor areas, and operating shared amenities like clubhouses or pools.

While settling into a new home can seem exciting, it also brings its own set of concerns. On top of getting familiar with the area and making sure your home purchase goes smoothly, you also have to get ready for the move itself.

Why do people consider buying a foreclosed home? There are a few good reasons. The price is usually a big factor – you’re able to potentially get a lot more house at a bargain price point.

For many homeowners, their house is their most valuable asset. That can prove especially useful when you have significant expenses come up, like home improvements, debt consolidation, college costs, or emergency expenses.

FAIRFAX, Va. – First Heritage Mortgage, LLC (FHM) is excited to announce an expanded leadership team, strengthening its organizational structure. These new executive positions will support the company’s tremendous growth and ensure FHM is prepared to build on this success. In 2020, FHM originated $3.73 billion in mortgage loan closings, representing a 102% year-over-year increase. As the company expands into lending in more states and continues to open additional branches, it became necessary to develop a larger executive team to support the continued growth plan.

FAIRFAX, Va. and NEW CARROLLTON, Md. – The Maryland Department of Housing and Community Development recognized top-performing lenders of the Maryland Mortgage Program (MMP) this month.

If you’re looking to buy a house, chances are you’ve already started the process by searching online. There are a seemingly endless number of platforms and services on the web today that make finding your new home easier and quicker than ever before.

The District of Columbia is a special place. It’s the United States’ capital – the center of all the action for the federal government. It’s also an international city, home to embassies of nations from around the globe.

Does a mortgage refinance make sense? The answer to this question highly depends on your goals for a new mortgage and how long you intend to stay in the property.

Foreclosure has been a major problem for homeowners around the world. They often find the foreclosure process daunting and sometimes impossible to avoid or stop.

When looking for a mortgage, knowing the difference between a mortgage rate and an APR will be of great help for you in picking the best loan for your situation. You can decide if to look into other loan costs that do not have APR.

Properties selling over appraised values, Sales prices that end up well over the list price. A 2017 report by Harvard researchers shows that 1 in every 3 renters and buyers overpay for their housing. This sums to a total of 39 million Americans.

Buying a home can be a big step towards future financial freedom, the problem is saving for a down payment which is usually a tough thing to do. However, you might be able to speed up the process if you already have some cash in your retirement account.

Warmer weather and brighter days are now in bloom as we transition into spring. Many Americans are also receiving or have already received a third stimulus payment. After a year of COVID-19 restrictions and a boom in the amount of new and refinanced mortgages,

FAIRFAX, Va. – First Heritage Mortgage, LLC (FHM) announced this week that Banks Gatchel joined its executive leadership team in the role of President.

A jumbo loan is used to finance a home when the price exceeds the conforming loan limit, which is $548,250 for most of the U.S. in 2021.

March is Women’s History Month, and at First Heritage Mortgage, we are proud to have awesome female team members helping our company set records every month of the year. To honour and celebrate those achievements, we are sharing stories from three women leaders at FHM.

There are many fees associated with buying a house, from inspections to appraisals to insurance. Most buyers don’t want to spend more than they need to, so it’s a good practice to do some research to find out just what you’re paying for and avoid unnecessary costs.

Have you questioned, “How many times can I refinance my home?” The short answer is that you can refinance your loan as many times as it makes sense for you to do so. But what does that mean?

It’s almost time for your favourite day in the loan process: closing! As your closing date draws near, there is a lot of information coming at you fast. An important step before that final milestone is receiving your closing disclosure.

Real estate properties ready to market will have a change in value when rehabilitation takes place. Usually, fix and flip real estate investors renovate purchased properties and prepare them for sale within a duration of 1 year.

Most homebuyers or owners come with a common question all the time; “Do I need title insurance? “The answer you’ll get from any real estate expert is a loud “yes”. Some might still be lost and wondering what exactly is title insurance.

FAIRFAX, Va. — First Heritage Mortgage (FHM) has risen to No. 4 among mid-size companies in the 2021 Best Mortgage Companies to Work For rankings. National Mortgage News is now in their third year of recognizing the industry’s premier employers in this list.

We all dream of our perfect home. Maybe yours has a spacious backyard for your pets to roam. Or perhaps it’s an apartment with a nice view of the sunset each evening.

You’ve decided to buy a new home, and like a majority of Americans, that means you’re also signing up for a mortgage. A mortgage can be a great thing for your credit history.

Buying a home is easily one of the most significant financial decisions you’ll make throughout your life. It requires planning, saving, and the right timing.

Your home is MUCH more than a place to store your things or keep you dry when it’s raining outside. It is also a very important component in your overall financial foundation. I just want you to know that I understand this, and am dedicated to helping you find the right mortgage solution.

The original path of buying an investment property is to save money for down payment, after which you can now get a mortgage to cover the rest. Nonetheless, that’s not the only path to take. Most at times, questions are been asked by landlords on how they can finance a rental property if they don’t have enough money in the bank for a down payment.

Becoming a real estate agent is something over 14,000 people in America Google every month, as they dream of joining the already 2 million licensed real estate agents in the U.S. and help people buy and sell their homes with the best experience.

When you apply for a mortgage loan, we are going to need to review your financial picture. We do this to help understand your goals, to make sure you can qualify for a mortgage, what you can afford, and what price range we recommend you search for.

When you start thinking about buying a house, you will probably first consider whether you have enough money saved for the down payment. Your down payment is an important part of the mortgage process.

As you embark on your home buying journey, there are several parts of the process you may not have heard of before. That’s okay! This is when your loan officer will step in and be your guide to make the process more manageable and help you navigate your way through.

Whether you’re applying for a new home loan or refinancing your current mortgage, you’ll want to know how to compare mortgage options and where to look for the specifics of your loan offer.

Escrow ensures buyers and sellers in the real estate process are protected. As a homeowner, it ensures you will be able to pay for your property taxes and insurance. As a seller, it provides a layer of protection for the buyer’s deposit

The most important factor in your mortgage may be the interest rate. Your interest rate will determine your monthly payment and the total lifetime cost of your mortgage. Getting the best rate is crucial to your home buying journey.

There are many components to manage as you progress through the home buying journey. In fact, your first mortgage payment is dependent on the timing of other steps in the mortgage process. Your closing date will determine when your first payment is due.

Our homes become some of the warmest and safest places for many different creepy crawlies during the colder months. During the fall, insects — called “fall invaders” — begin to seek shelter for the winter.

We are thrilled to announce that Virginia Housing (formerly VHDA) has named First Heritage Mortgage loan officers Jeffrey Neilsen and David Bridges Jr. to its 2020 Top Producing Loan Officers list. Each year, Virginia Housing honors the state’s loan officers who helped the most Virginia residents through the home buying process.

Which investment option is best for your hard earned money? Single or multifamily properties? The multifamily real estate investment comes with many different key benefits and it is most recommended to have a clear knowledge of the offered benefits so you can make informed investment decisions.

Many questions have been asked if there is a perfect time to sell their house and the answer has always been the been the decision to move onto the next chapter.

If you are to receive a tax refund this year, you must be thinking of the best possible way of using it. Each year, an average of 80% Americans receives a tax refund averaging around $3,000 per filer.

It has been estimated by the National Association of Realtors that about 20% of residential sales are cash transactions. In addition, about three-quarters of sales are from investors.

Whether you’re buying a new home or refinancing your current property, an appraisal is an essential part of your mortgage process. Lenders typically require a professional, independent appraisal of the home you want to buy or refinance. This ensures the value of the property meets the loan guidelines and satisfies all lender requirements.

If you’re planning on selling your home, you may also be thinking of different ways to boost its value. However, with the many remodelling ideas, choosing the right upgrades can be quite tricky — especially when you are working on a tight budget. Luckily, various quick fixes can upgrade your home and make it stand out in the neighborhood. These quick DIY fixes are affordable and very effective. Plus, you don’t need to be an experienced woodworker to increase the value of your home. Here are a few quick fixes that can increase the value of your home.

Homeownership comes with its own set of obligations that you may not have otherwise known about. You will undoubtedly factor in your down payment and closing costs when establishing your affordability, but maintenance costs, HOA fees, and various other expenses may get overlooked. Property taxes are one of those obligations that you may not have considered when budgeting for your home.

Does refinancing your home make sense for you? If you’re unsure, you’ve come to the right place. While many think the purpose of refinancing is to take advantage of lower rates, there are several reasons why homeowners choose to refinance.

Homeowners decide to renovate their homes for a variety of reasons. Whether it’s a new kitchen they’ve had their eye on or an upgrade to their fixer-upper, homeowners seem to have an irresistible urge to improve the quality of their homes. In fact, 90% of homeowners say they plan to remodel or renovate their home. If you’re looking at your home and thinking about making a change, we’ve compiled five reasons why people decide to renovate.

Perhaps one of the best ways to update a home and make it feel modern is by performing a bathroom renovation. This is a common remodeling project when someone is preparing to sell their home, but it can be a great way to make your home feel new and updated.

You’ve made the decision to buy a house! How do you go about financing? Buying a home is one of life’s most important and exciting decisions, and it could still be the most challenging…

The 30-year mortgage has long been the norm of the industry and for that reason; home buyers generally go for it as it gives them the chance to get the loan spread out over a long period so payment can be as low as possible.

This is a question common with most people with a mortgage on their home. They wonder whether it is worthwhile to settle their mortgage ahead of schedule.

The home buying process is termed stressful, yet rewarding. If you’re searching for a home in a competitive market, you might find it harder with greater rewards.