National Homeownership Month: Insights from National Capital Bank's Residential Mortgage Lending Team

According to the Department of Housing and Urban Development (HUD), June is National Homeownership Month! With over 130 years of experience in and commitment to the greater Washington Metropolitan community, National Capital Bank offers homebuyers and owners a better and more personal experience purchasing a new home or refinancing an existing mortgage.

If you've explored purchasing a new home in the last year, you're likely privy to the boom in market activity. One factor contributing to peak homebuying? As a result of the pandemic, mortgage rates are historically low, making it an opportune time to refinance a mortgage or buy a dream home.?

So, how can you equip yourself with the tools necessary to approach the home buying process confidently? Collectively, Chris Reddick, Vice President & Mortgage Sales Director, and Bill DuBose, Vice President & Mortgage Lending Officer, have 60+ years of residential mortgage banking experience — and both have tips for prospective or current homeowners this National Homeownership Month. Their advice includes:

1. Build a relationship with a community bank's mortgage lender before you start house-hunting. Doing so will allow you to bid with confidence.
2. Compile a list of your income and assets and be ready to document both. Proof of financial performance will benefit both the seller and realtor in ensuring your offer is valid and attractive.?
3. Prepare to be agile and responsive to your lender. Flexibility and communication are crucial to helping your banker guide you through an often-involved process.?
4. Work with a realtor who knows the neighborhood in which you're interested. Their expertise can help you uncover unlisted properties yet to hit the market.?

With these tips in mind, it's important to remember that the current housing market in the greater Washington Metropolitan region is incredibly active, and you should not be discouraged if it takes a few attempts to be successful in your bid. In addition, while you'll be quick to learn that homebuyer demand currently exceeds supply, this condition has been the case for the past several years — though it's particularly pronounced in today's post-COVID economic environment.

At National Capital Bank, we work creatively and diligently to find solutions to your mortgage financing needs. Our flexible loan programs are competitive with many options designed to meet home buyers' and owners' needs and goals. Make NCB your mortgage lending partner today and benefit from:

• Local market expertise
• Fast turnaround times
• Competitive rates and terms with fixed-rate, fixed-term, and adjustable-rate (ARM) options
• Mortgages for primary residences, second homes, and investment properties
• Portfolio lending programs

Get started by connecting with Chris Reddick and Bill DuBose today, or visit us online to learn more: https://www.nationalcapitalbank.com/personal/residential-mortgage-lending.

National Capital Bank is an Equal Housing Lender

Chris Reddick NMLS #393611

Bill DuBose NMLS #126481