For First-Time Buyers in DC, MD & VA

You have more advantages than anyone is telling you about.

First-time buyers in the DMV qualify for rate waivers, down payment programs, and pricing that repeat buyers don't get. Here's the math nobody shows you.

See the Rate Difference How the Waiver Works

The Misconception "I make too much to qualify for any rate reduction."

The Confusion "Mortgage rates feel made up out of thin air."

The Frustration "Why did my friend just get a way better rate?"

See the Math

How much are rate add-ons costing you?

What most people think

Mortgage rates start high, then get reduced based on better credit, a bigger down payment, and so on.

That's wrong.

The actual reality

It's the opposite. Rates start at the market rate and have hidden add-ons (called LLPAs) that increase your rate based on your scenario. And they stack.

Pick your credit score below and toggle on any details that match your loan. The teal line shows the rate add-on you'd normally pay. The gold line shows what changes when the FTHB AMI Waiver applies.

Select your credit score:

Add your loan details (optional):

Without FTHB Waiver With FTHB Waiver Savings zone

FTHB Waiver Eliminates -- in rate add-ons

← Higher Down Payment Down Payment Amount Lower Down Payment →

Peak Add-On (without waiver)

at the worst LTV tier

With FTHB Waiver

0.000%

across every LTV tier

Your Savings

rate add-on eliminated

Rate add-ons rounded to nearest 0.125% per standard pricing convention. Fannie Mae LLPA Matrix 01.28.2026. For educational purposes only (not a rate quote). FTHB waiver requires qualifying income ≤ $194,400 in the DMV area.

Next step

Now see if your income qualifies for the waiver.

The waiver only applies if your qualifying income falls under your county's cap. Most people overestimate what counts — we don't always have to use every income source on file.

Check your income limit

How It Works

The First-Time Buyer Rate Add-On Waiver

What are LLPAs?

Every conventional mortgage comes with Loan-Level Price Adjustments. These are percentage points added to your base rate based on your credit score, down payment, property type, and other factors. They're the reason two buyers with the same income can get very different rates.

What gets waived?

If you're a first-time homebuyer in DC, Maryland, or Virginia with a household income at or below $194,400, Fannie Mae and Freddie Mac waive the credit score and LTV-based rate add-ons entirely. You start at the base market rate with nothing added on top.

What does that mean in dollars?

On a $450,000 loan, a 720 credit score buyer putting 5% down would normally have a 0.875% add-on baked into their rate. That's roughly $265/month. With the FTHB waiver, that entire add-on disappears. Over 5 years, that's over $15,000 in savings.

FTHB Waiver Eligibility

First-time homebuyer

Haven't owned a home in the last 3 years

DMV area purchase

Property in DC, Maryland, or Virginia

Income at or below $194,400

Total household income (varies by county)

Conventional loan

Fannie Mae or Freddie Mac financing

Go Deeper

The complete guide for first-time buyers.

The FTHB waiver is one piece. The full guide covers loan programs, timelines, costs, DPA programs, and the mistakes to avoid before you apply.

Education Hub

The First-Time Buyer's Guide to Mortgages in DC, MD & VA

A complete walkthrough of the mortgage process for first-time buyers: programs, costs, timelines, and the mistakes to avoid before you apply.

Read the Full Guide →

Ready?

Let's figure out exactly what you qualify for.

FTHB waiver, down payment assistance, loan program comparison... I'll walk through all of it for your specific situation. No pressure, no commitment, just the math.

Christian Kosko | NMLS# 1415795 | Fairway Independent Mortgage Corporation
NMLS# 2289 | Equal Housing Lender | Licensed in DC, MD, VA

This page is for educational purposes only and does not constitute a rate quote or loan approval. LLPA data sourced from the Fannie Mae LLPA Matrix effective 01.28.2026. FTHB waiver eligibility requirements include first-time buyer status, income limits, and conventional financing. All loans subject to underwriting approval.