First Savings Mortgage News
VHDA Congratulates Our 2016 Top Producing Loan Officers
Congratulations to our very own Jerome Jones for being recognized as VHDA 2016 Top Producing Loan Officers!
Helicopter Factory Unit 7W Appraised and Closed at $2,300,000
Congrats to our very own The Busch Team for closing on the 7W Unit at The Helicopter Factory. This appraisal and sale is more than $800,000 above the highest recorded condo sale and $700,000 above the highest single-family in Columbia Heights based on MRIS data.
First Savings Mortgage Corporation Ranked as One of the Nation's Top Mortgage Lenders
First Savings Mortgage Corporation is proud to be named a Scotsman Guide 2015 Top Mortgage Lender. First Savings Mortgage Corporation was ranked #53 in Top Overall Volume with over $2 billion in closed loans.
Lender offers special mortgage program for recent college grads
First Savings Mortgage Corp. in McLean has rolled out a program to help people who graduated from college within the past three years with a bachelors, masters, professional, doctorate or technical degree in medicine, legal, finance, engineering, education or a science to buy a primary residence. The mortgage program offers 90 percent loan-to-value loans of $417,000 to $2 million without requiring mortgage insurance. Both adjustable and fixed-rate loans are available.
Wary homeowners offered new ways to finance their next move
Hybrid ARMs have been available for years, but some new ones have been introduced recently. For example, Busch says, some lenders, including First Savings Mortgage and some credit unions, are offering 15/15 ARMs that reset only once after 15 years at a fixed rate. The balance is paid off over 30 years, which keeps payments lower than a 15-year loan.
Home mortgage lenders ranked by 2014 metro-area loan volume
Washington Business Journal
Washington Business Journal ranked us one of the Top 5 Home Mortgage Lenders in the DC Area!
First Savings Mortgage Introduces a Unique 6/1 ARM to the Washington DC Area
First Savings Mortgage Corporation has introduced a new 6/1 Adjustable Rate Mortgage (ARM) into the mortgage market...The two main advantages of the 6/1 ARM over shorter term ARMs are – longer payment certainty, and the ability to qualify borrowers at the start rate, which opens homeownership to more people.
Big Loans for Small Spaces
The Wall Street Journal
When Drew Hamlin and his partner bid on a townhouse this year in Washington, D.C's Stanton Park neighborhood, it helped that they went small with their choice of lender.
"We literally were told that it was our lender that sealed the deal," said Mr. Hamlin, a 36-year-old assistant principal in Virginia's Fairfax County Public School system. Mr. Hamlin and his 40-year-old partner, Warren Griffin, opted for a 4.75% jumbo loan with Bethesda, Md.-based First Savings Mortgage Corp., which had $490 million in jumbo originations in 2013, up from just $160 million in 2010.
They won out for the 2,289-square-foot end-unit Federal-style home with an offer of $961,000. Even though their combined income wasn't as high as the other bidders, Mr. Hamlin says the seller, an investor, had worked with First Savings before and liked the company. Their $850,000 loan took two weeks to close and required less than a typical 20% down payment.