Fidelity Direct Mortgage LLC

A Home is Possible!

The Home Possible program is a low-down-payment conventional mortgage option offered by Freddie Mac (a government-sponsored enterprise GSE), designed to help low- to moderate-income homebuyers achieve homeownership with greater affordability and flexibility. Unlike many traditional mortgage products, Home Possible allows borrowers to put down as little as 3 % of the purchase price, and those funds can come from various sources such as gifts, employer-assistance, or secondary financing rather than solely personal savings. The program is generally available to buyers whose income is at or below about 80% of the Area Median Income in the location where the home is being purchased, and it requires private mortgage insurance (PMI) that can often be reduced and canceled once sufficient equity builds up. Home Possible also offers flexible underwriting features, including the ability to use certain alternative income types and, in some cases, include non-occupant co-borrowers to help strengthen applications. Because it is available through participating lenders rather than directly from Freddie Mac, interested buyers should consult a mortgage professional to confirm specific eligibility and terms.

The Lowest in Three Years!

Inflation has cooled over the past few months providing more leverage, allowing the Federal Reserve to make a move to lower rates, but not enough for a significant cut. Mortgage rates hit a 3-year low last week continuing the slow trend to lower rates. Mortgage rates have been more stable in the low 6 range and dipping below 6% in some cases. Prospective homebuyers are finding increased opportunities as the trend to lower rates combined with property values stabilizing is making homeownership more affordable. In fact, median new home sales prices have dropped from 2024 to 2025. Existing home sales prices have cooled as well. Listings are staying on the market longer prompting sellers to lower their asking price and offer seller concessions to attract buyers. If you have been looking to buy your new home, this is the time!

FH….Affordable!

FHA increased the 2026 FHA Loan Limits providing prospective homeowners with more buying power. The baseline FHA Loan Limit increased to $541,287.00. The FHA Loan Limit in High-Cost Areas increased to $1,249,125.00. Higher FHA limits allow buyers, especially first-timers with tighter budget or credit constraints, to access financing for homes in more expensive neighborhoods without needing to jump to conventional or jumbo loans. FHA’s low-down payment of 3.5%, and more flexible credit requirements make the loan limit increases especially meaningful. FHA loans are the most flexible loan programs to combine with Downpayment Assistance Programs, which can provide a prospective buyer with the ability to buy a home with no down payment.

5.0 star review received on Experience.com for SPENCER BANGERT by Kyle K C - overall experience and fast responses

New ★★★★★ 5 Star Experience.com Review by Kyle K C Click to see all 238 reviews of SPENCER BANGERT, Gaithersburg

5.0 star review received on Experience.com for SPENCER BANGERT by Taci S S - Spencer supported through the entire process all the way to sitting with us at the closing table! He was super responsive and answered all of our many questions! Spencer was personable, professional, and a kind human. We could not have asked for anything thing more. The entire process was smooth and seamless!

New ★★★★★ 5 Star Experience.com Review by Taci S S Click to see all 237 reviews of SPENCER BANGERT, Gaithersburg