+1 240 475 9906
www.myrmcloan.com
derick@myrmcloan.com
The Secret to Homeownership: 5 Reasons You Should Buy a Home – #3 Will Blow Your Mind!
The game-changing benefits of owning a home and why #3 is a must-know for anyone considering buying. Download now to see why homeownership is the key to your financial future!
FAQs for First-Time Homebuyers
How much do I really need for a down payment?
Many first-time buyers think they need 20% down, but that’s not always true! Depending on the loan, you could qualify for as little as 3% down—or even 0% if you’re eligible for a VA or USDA loan. There are also down payment assistance programs that can help. Let’s explore the best option for you!
What’s more important—my credit score or my income?
Both are important, but they play different roles. Your credit score helps lenders determine how risky it is to give you a loan, while your income proves you can afford the monthly payments. Even if your credit score isn't perfect, there are loans designed to work with various credit levels. Building up your score can help, but don’t let it hold you back from exploring your options!
How do I know how much home I can afford?
This can be tricky, but here’s a rule of thumb: your monthly housing costs (including taxes and insurance) should be no more than 28% of your gross income. But affordability is personal. Let’s look at your full financial picture and future goals to find a number that works for you.
Is now a good time to buy, or should I wait?
Timing the market is tough, even for experts! While interest rates and home prices fluctuate, your personal readiness is key. If you're financially prepared and ready for stability, it could be the perfect time. Remember, renting often means you're paying someone else’s mortgage—why not build equity for yourself?
Five-Star Experience!
Unveiling the Magic of Residential Mortgage Corporation!
"I strongly recommend their service!"
My experience with Residential Mortgage was great. Mr. Hungerford and his team provided good communication and education regarding the home buying process. I strongly recommend their service. Being a first time home owner was foreign to me. After going through the process with Residential Mortgage Corporation, I feel like I can help other people who are going through the same process. To this day, Mr. Hungerford still teaches me things I need to be aware of as a new home owner.
- Adrian Gause
Waldorf, MD
"Derick and his team are awesome!"
They helped me with and explained every step of my home buying process. They continuously followed-up with me to make sure they answered all my questions and concerns. Look, the home buying process can be overwhelming, but the Residential Mortgage Corporation lead by Derick Hungerford makes it tolerable and puts you at ease during the entire process..
- Dwayne Gilliam Sr
Upper Marlboro, MD
"Working with Residential Mortgage Corporation has been a great experience."
Not only are they prompt, knowledgeable and experienced professionals they take the time to make sure they keep you informed during the entire process. I was able to call, text or email and receive a response back from someone that took the time to answer all my questions. Thank you so much RMC for helping to make my dream come true!
- Jacqueline Van Buren
Upper Marlboro, MD
