Blog Category: washington dc mortgage

Percent Character rates

Mortgage rates, why so different at different banks?

Mortgage rates, why so different at different banks? Are you puzzled why Conventional mortgage rates vary so much, day to day and from bank to bank? Or do you wonder why advertised rates are different when you call a mortgage lender? Many times rates are not all that different, they are just very complicated for a bank or mortgage broker to accurately publish due to numerous variables.

Most people are not aware that Fannie Mae and Freddie Mac have a whole chart of pricing “add-ons”. Add-ons are an amount (expressed in points or rates) that are added on to the “base rate” in certain situations. Some examples of add-ons are for:

  • condos
  • investment properties
  • multi-family properties (a 2 unit, for example)
  • credit score
  • extended lock-ins beyond the standard 30-60 days
  • loan-to-value Read More
Lafayette Park Washington DC

The Best Up & Coming Neighborhoods in DC for 2017

What are the best neighborhoods in DC? What makes a neighborhood “up and coming” in the DC area? You may have heard of the U-Street corridor and remember that it used to be abandoned buildings and vacant lots. Now it’s where professionals want to live, it’s trendy, and packed with diners and shoppers. Even though it took years of slow transformation, it would have been nice to own property before it got hot. Read More