District of Columbia Mortgages (DC)

Washington, D.C. is experiencing a slower, more competitive housing market. Prices have begun to moderate, and inventories are increasing, moving the city into a period of stabilization. David Lereah, National Association of Realtor’s chief economist, said most of the cooling in the housing market has already occurred. “We can expect a historically strong housing market moving forward.” With mortgage rates dropping slightly in early April, now is a good time to re-finance or purchase a home in Washington, D.C.

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Quick Washington, DC Housing facts

• Percent of Washington, DC homeowners: 40.8%
• Percent of Renters in Washington, DC: 59.2%
• Median Washington, DC Household Income: $42,505
• Average Washington, DC credit score: 677
• Median Washington, DC Home Value: $157,200

How much house can I afford in DC

Because of the high cost of housing, one of the biggest problems facing Washington, DC’s homebuyers is figuring out how much house you can afford. We have some great mortgage calculators that can help you figure how much home will fit into your monthly budget. Don’t forget there are many other home options out there specifically for Washington, DC’s residences. We work with local and national lenders to make sure that you get the best rate possible.

Refinancing in DC

Refinancing is a great way to lower your monthly payments, and lock into a low fixed rate.  We have noticed a strong trend recently of people refinancing ARM and Interest Only loans into Fixed Rate Mortgages (FRM).  If you need this type of refinance or a cash our refi, let us know.

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This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.