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Can I Finance Home Renovations Into My Mortgage at Closing?

Can I Finance Home Renovations Into My Mortgage at Closing?

by Mark Maldonado | Apr 25, 2025 | Home Buyer Tips

Purchasing a home that needs renovations or upgrading your current home can be costly, but financing home improvements through your mortgage can be an effective solution. Instead of taking out a separate loan for renovations, some mortgage programs allow you to roll...
How Debt-to-Income Ratio Affects Your Mortgage Eligibility

How Debt-to-Income Ratio Affects Your Mortgage Eligibility

by Mark Maldonado | Mar 18, 2025 | Home Buyer Tips

When applying for a mortgage, lenders evaluate several factors to determine your loan eligibility. One of the most critical metrics is your Debt-to-Income Ratio (DTI). Understanding how DTI impacts mortgage approval can help you better prepare for homeownership and...
How Obtaining a Mortgage Can Impact Your Credit Score

How Obtaining a Mortgage Can Impact Your Credit Score

by Mark Maldonado | Feb 13, 2025 | Home Buyer Tips

When considering homeownership, many potential buyers wonder: Will getting a mortgage help my credit score? The answer is yes—if managed correctly. A mortgage is a major financial commitment, but it can also be a powerful tool for building and maintaining strong...
Is It Time to Stop Paying Rent and Start Building Equity?

Is It Time to Stop Paying Rent and Start Building Equity?

by Mark Maldonado | Jan 23, 2025 | Home Buyer Tips

Have you ever calculated how much rent you’ve paid over the years? It’s a staggering number. According to studies, the average American spends between $133,000 and $155,000 on rent in just six to seven years. Let’s break that down and explore what it...
How Mortgage Rates Affect Your Home Buying Power

How Mortgage Rates Affect Your Home Buying Power

by Mark Maldonado | Jan 17, 2025 | Home Buyer Tips

Mortgage rates play a significant role in determining how much home you can afford. These rates influence the cost of borrowing money for your mortgage, which directly impacts your monthly payment and, ultimately, your home buying power. The Impact of Mortgage Rates...
The Role of the Appraisal Contingency in Real Estate Contracts

The Role of the Appraisal Contingency in Real Estate Contracts

by Mark Maldonado | Dec 5, 2024 | Home Buyer Tips

When you’re buying a home, one important component of the real estate contract is the appraisal contingency. This clause protects the buyer in case the property’s appraisal comes in lower than the agreed-upon sale price. While it’s a common part of...
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Federal Hill Mortgage Company, LLC is a broker and lender licensed in MD, DE, PA, VA, DC, NC & TX.

Company NMLS #176351. Equal housing lender.

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