Mike Ott | NMLS ID #330537 First Heritage Mortgage, LLC is an Equal Housing Lender. Company NMLS ID #86548 | Woodbridge Branch NMLS ID #920806 (www.nmlsconsumeraccess.org)
At First Heritage Mortgage, we understand that your home represents peace of mind for your family, a sense of community belonging, and in many cases, your most significant financial investment. Work with our team of lending experts for greater simplicity, honesty, and fairness throughout the mortgage process. Our History Founded in 1996, First Heritage Mortgage was designed to be the premier source of mortgage financing in the Washington DC area. By working hard to prove ourselves on every loan, we have earned a reputation for our ability to provide innovative mortgage solutions, customized to the unique needs of each borrower. Today, we serve customers throughout the Mid-Atlantic, southern East Coast, and beyond. Our Approach We go beyond traditional conventional mortgage programs to offer FHA and VA insured mortgages, financing for new construction and second homes, first time homebuyer assistance programs, refinancing options, and more. As a direct lender, we control every aspect of the mortgage process from start to finish. Our borrowers’ loans are processed, underwritten, and closed in a local First Heritage Mortgage office. This translates to a speedy and accurate delivery of services, removing much of the stress from the process. Reach out today to learn more - We look forward to the opportunity to work with you! First Heritage Mortgage, LLC is an Equal Housing Lender. Company NMLS ID #86548 Woodbridge Branch NMLS ID #920806 (www.nmlsconsumeraccess.org)
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As a homeowner, you might decide to renovate your home for a variety of reasons. Maybe it's new cabinets in the kitchen or the addition of a new room. Whatever your reason, there's an irresistible urge to improve the quality of your home. In this post, we uncover the top five reasons why homeowners choose to renovate. https://buff.ly/3mg8npY #MoreThanABank
Underwriting is when your lender evaluates the risk of offering a loan to you. It's a crucial step in the home buying process and will determine whether you qualify. In this post, we explain what to expect and give tips for a smooth underwriting process. https://buff.ly/37edoJx #MoreThanABank
Homeownership comes with a new set of obligations. Property taxes are a responsibility new homeowners often don't consider when budgeting for their home. In the latest post on our blog, we explain what property taxes are, how to calculate them, and whether you can avoid paying them. https://buff.ly/2JauBew #MoreThanABank
Most homebuyers know the golden rule — don't purchase more house than you can afford. Figuring out what affordable is for you, however, can be a challenge. As you start the road towards your first home, planning and sticking to a budget can help you better understand the sweet spot for your affordability. Here are some rules you can follow and how you can set a budget to purchase your first home. https://buff.ly/3fqiKoA
Your debt-to-income (DTI) ratio is a critical factor that helps determine whether or not your lender will qualify you for a loan. This number gives an idea of how much money a lender can provide to borrowers. Here's how you can calculate your DTI ratio and why it's so important. https://buff.ly/2UJmNCS
When it comes time to apply for a mortgage, you want to be certain that you have all the necessary documents for your lender. This will help determine if you qualify and ensure a smooth process. The exact forms required will depend on your situation, but here are seven you may need when applying. https://buff.ly/3kNLRDA
For homebuyers looking to purchase their next home outside of a major city, a USDA loan can be a great choice to make homeownership more affordable. In this post on our blog, we cover everything you need to know about USDA loans, including benefits like no down payment, 100% financing, and whether it's the right choice for you. https://buff.ly/36TO1wf #MoreThanABank
Backed by the Federal Housing Administration (FHA), FHA loans were created to help families with low-to-moderate income become homeowners. With benefits like a low down payment, reduced closing costs, and flexible lending guidelines, this may be the perfect borrowing option for you. In this post on our blog, learn what an FHA loan is and if it's the right choice for you. https://buff.ly/2UuRrA5 #MoreThanABank
A home is one of the largest investments you'll make and you want to ensure you know its exact condition. A home inspection helps identify potential problems with the property and what it may cost you in future maintenance and repair costs. It's an important step in the home buying process. This post on our blog covers what to expect from a home inspection and what your home inspector will look for. https://buff.ly/3nkLe6c #MoreThanABank
Choosing to build a home is a big step. Finding the right builder is even more important. You can do a great deal to avoid a bad experience simply through the way you choose, manage, and communicate with them, laying the foundation for a good relationship. Here are ten tips for choosing and working with a builder. https://buff.ly/2GINaFI
Investing in real estate can be a great way to generate passive income and build wealth. Like any investment, it's important to know what you're getting involved with and have a long-term strategy. There's no substitute for being prepared. Here's what you need to know about investing in real estate and if it's the right choice for you. https://buff.ly/358w6lS
Private mortgage insurance, also known as PMI, is common on government-backed loans, such as FHA and USDA mortgages, which typically allow minimal down payments. Homebuyers with PMI pay a mortgage insurance premium, and its cost can vary by lender. Will you need to pay PMI? Here's what you should know. https://buff.ly/3581ctV
Is a conditional approval the same as being approved? As you move through the process, you may hear that you've been "conditionally approved" but might not understand what that means or how it differs from an initial mortgage approval to buy or refinance your home. Learn more about what a conditional approval means by visiting here. https://buff.ly/3k9yqxs
Backed by the Federal Housing Administration (FHA), 203(k) home renovation loans were created to help those looking to finance home repairs plus the purchase or refinance of a primary residence. In this post on our blog, we explain the benefits and the difference between a standard and a limited 203(k) loan. https://buff.ly/2U1zbhp #MoreThanABank
A jumbo loan is perfect for homebuyers looking to finance high-end properties that exceed the conforming loan limits set by the Federal Housing Finance Agency (FHFA). This type of financing is not eligible to be purchased or guaranteed by Fannie Mae or Freddie Mac and has unique underwriting requirements that differ from a conventional loan. To learn how a jumbo loan works, visit here. https://buff.ly/2U2hCh6
"If you’re looking for a trustworthy, responsive lender with superior expertise and knowledge of the mortgage industry then look no further! My husband and I have worked with Mike for several years and I would recommend him over and over. Not only has Mike helped on my personal loans for purchasing homes and refinances but he is my go-to for market updates, knowledge and all around loan information. I’ve referred Mike.." says Stacey on Google
birdeye.com ★★★★★ If you’re looking for a trustworthy, responsive lender with superior expertise and knowledge of the mortgage industry then look no further! My husband and I have worked with Mike for several years and I would recommend him over and over. Not only has Mike helped on my personal loan...
Have you tried using our mortgage calculators? Use one of our seven calculators to assist in planning, estimating, and exploring your financial options. https://buff.ly/3mXaC1D #MoreThanABank
Purchasing a second home can be a big decision. Whether you're looking for an investment property or you want a weekend getaway, having a plan can make the process smooth. Beyond deciding on a location, financing and additional expenses become a significant consideration. This post on our blog covers everything you need to know and gives you five tips for buying a second home. https://buff.ly/3mO1HPR #MoreThanABank
As a homeowner, you have options if you need to tap into your home's equity. This can be a convenient way to borrow cash at favorable interest rates to pay for home repairs, debt consolidation, or something else. Sorting through all of your options can be confusing, so here are the three most common ways to tap into your home equity. https://buff.ly/2I1uDoG
Starting early is a major component in preparing to qualify for a mortgage. If you're able to find and correct issues in your credit history, follow a budget, and pay your bills on time, the home buying process will be a breeze. In this post, we show you tips on how to improve your chance of getting approved for a mortgage. https://buff.ly/3efy3jE #MoreThanABank
Remodeling the bathroom is one of the most popular home renovation projects. When you find the right opportunity to upgrade, it's essential to have a plan and even more important to have a couple of tricks up your sleeve. This post on our blog walks you through the top 9 rules for your bathroom renovation, along with a few tricks. https://buff.ly/35HNSvi #MoreThanABank
As a homeowner, you might decide to renovate your home for a variety of reasons. Maybe it's new cabinets in the kitchen or the addition of a new room. Whatever your reason, there's an irresistible urge to improve the quality of your home. In our latest blog post, we uncover the top five reasons why homeowners choose to renovate. https://buff.ly/35H56t1 #MoreThanABank
Homebuyers may forget to look past their down payment when considering the out-of-pocket expenses required to purchase a home. To avoid any surprises, you will have to account for the closing costs as well. This post on our blog explains what closing costs are, the services and fees included, and how much you can expect to pay. https://buff.ly/2JjjTmd #MoreThanABank
"Thanks to Mike’s expertise, my home buying process went smoothly with no hiccups! As a first time home buyer, I was unsure as to what exactly to expect in the process; however, with Mike’s assistance everything went perfect. Mike answered all my MANY questions that I had and always in a timely quick manner. As well as answering my questions, he provided home buyer/ mortgage tips which I really appreciated! Working with.." says SM0709 on Zillow
birdeye.com ★★★★★ Thanks to Mike’s expertise, my home buying process went smoothly with no hiccups! As a first time home buyer, I was unsure as to what exactly to expect in the process; however, with Mike’s assistance everything went perfect. Mike answered all my MANY questions that I had and alwa...
Mortgage underwriting is the process a lender uses to determine if the risk of offering a mortgage loan to you is acceptable. With several different stages in the home buying process, underwriting is one of the most critical steps. In this post on our blog, we explain what to expect and give tips for a smooth underwriting process. https://buff.ly/2HF5vUK #MoreThanABank
A real estate agent can make all the difference in your home search. With the expertise they bring to the table, the right agent might be able to match you with the perfect property. Whether you're looking for something specific in your new home or you don't have the time to search, here are ten benefits to using a real estate agent. https://buff.ly/37FWHbT
When it comes to buying your first home, figuring out how much you can afford requires more than just your pre-approval. Often, first-time homebuyers fail to account for all expenses, leading to financial hardship or worse. Fortunately, there are some golden rules you can follow to help guide the path. Here's how you can set a budget for buying your first home. https://buff.ly/3kryI3A
As you start the mortgage process, it's vital to understand the factors that will be evaluated to qualify you. Lenders will typically look for positive credit history, a low amount of debt, and steady income, among other things. How are these items assessed, and what else does a lender look for? Here's what you should know. https://buff.ly/3kymh68
Making a good first impression is something every homeowner wants. It's nice to hear positive feedback when guests come to visit and admire the interior of your home. So, how do you design an aesthetic that both you and your guests will love? Try these 15 interior design tips. https://buff.ly/3dT2eNb
One of the best ways to update your home and make it feel modern is to remodel the bathroom. Whether you're making an investment or just looking for an excuse, it's always good to have a plan. Keeping helpful tips in mind will help you stay on task, stay under budget, and come out happy. In our latest post, we discuss the top 9 rules for your bathroom renovation. https://buff.ly/31uOKSH #MoreThanABank
"Patient. Understanding. Extremely knowledgeable. Generous of time. Excellent principles. We are extremely blessed to have had Mike on our side, interceding for us and going above and beyond for our family - a family he hadn’t ever met either (oh, Covid)! Throughout the process of purchasing our new home, we didn’t experience overwhelming doubt or worry because we KNEW we were in the best hands possible. If we could.." says ealva1422 on Zillow
birdeye.com ★★★★★ Patient. Understanding. Extremely knowledgeable. Generous of time. Excellent principles. We are extremely blessed to have had Mike on our side, interceding for us and going above and beyond for our family - a family he hadn’t ever met either (oh, Covid)! Throughout the process of p...
With all of us spending so much time on work, family, and sleep, it’s hard to find time for anything else. The last thing you want to do with those few extra personal hours is scrub the inside of your oven. Luckily there are a few hacks to make things fast. Here are 15 cleaning hacks that’ll save you time in the kitchen. https://buff.ly/2HjGFsY
If you’re looking for a flexible way to access cash, a home equity line of credit (HELOC) may be your best option. By using your home's equity as collateral, this loan solution allows you to get the money you need for renovations, large purchases, or alternative debt repayment. Here's everything you need to know. https://buff.ly/34gxgvg
Virginia Housing (formerly VHDA) is a fantastic resource for first-time homebuyers. Their Mortgage Credit Certificate (MCC) is a tax incentive that may be able to save you money by reducing the amount of federal income tax you owe. To learn more about how their mortgage credit certificate can help you, visit this post on our blog. https://buff.ly/37pi9Sn
If you're a homeowner looking to purchase a new residence, a bridge loan helps bridge the gap between your new home's sales price and your new mortgage. It can help you purchase a new home while you wait for your current home to sell - giving you time and peace of mind. In this post on our blog, learn everything you need to know about bridge loans. https://buff.ly/3nXIcpj #MoreThanABank
Mike Ott | NMLS ID #330537 Founded in 1996, First Heritage Mortgage was designed to be the premier source of mortgage financing in the Washington D.C. metro area for customers of the builder and realtor community. By working hard to prove ourselves on every loan, First Heritage has gained a reputation for our ability to provide innovative mortgage solutions, customized to the unique needs of each borrower. Whether you are buying your first home, changing residences, or refinancing an existing home, our friendly and experienced team is here to help ensure that all your needs are met. Fairfax Office | Headquarters 3201 Jermantown Road, Suite 800 Fairfax, VA 22030 Company NMLS ID #86548 Woodbridge Office 12701 Marblestone Drive, Suite 100 Woodbridge, VA 22192 Branch NMLS ID #920806
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Our mission is to help grow home ownership in the communities we serve. We strive to have exceptional service and amazing rates for all clients.
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