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Home Loans and Pre-Approval for Buyers in Montgomery and Frederick Counties

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Start With Financing

For most buyers, financing is the first step. Knowing what you can comfortably afford helps you focus your search, and a pre-approval shows sellers you are ready to buy.

Broker Carolyn Thompson, CRS, SFR, ABR, MRP, CDS, CDPE, SRES, of Real Estate Search and Sale, LLC has helped buyers navigate financing for more than 20 years, including first-time buyers, move-up buyers, military families, and buyers relocating to Maryland.

Pre-Qualification vs. Pre-Approval

A pre-qualification is an early estimate based on information you share with a lender. A pre-approval goes further. The lender reviews documents such as pay stubs, tax returns, and bank statements and checks your credit. Many sellers prefer offers that include a pre-approval letter.

Common Home Loan Options

Every buyer's situation is different, and your lender can explain which options fit you. Common loan types include:

  1. Conventional loans, which are not government-backed and offer a range of down payment options.

  2. FHA loans, insured by the Federal Housing Administration, which may allow a lower down payment.

  3. Veterans Affairs loans, available to eligible veterans, service members, and some surviving spouses.

  4. Jumbo loans, for purchase amounts above conforming loan limits, which are common in higher-priced areas such as Potomac and Bethesda.

  5. Renovation loans, such as the FHA 203(k), which can combine the purchase and the cost of certain repairs or updates into one loan.

Down Payment and Closing Cost Help

Maryland and some local governments offer programs that may help eligible buyers with a down payment or closing costs. Eligibility rules, income limits, and funding change over time, so ask your lender which programs you may qualify for.

What Lenders Usually Ask For

To get pre-approved, lenders typically request:

  1. Recent pay stubs

  2. W-2 forms or tax returns for recent years

  3. Recent bank and investment statements

  4. Photo identification

  5. Information about any other properties you own

Your lender will tell you exactly what is needed for your situation.

Tips for a Smooth Loan Process

  1. Get pre-approved before you start touring homes.

  2. Talk with your lender before opening new credit accounts or making large purchases.

  3. Respond quickly to document requests.

  4. Review your Loan Estimate and Closing Disclosure carefully, and ask about anything that is unclear.

Choosing a Lender

You are free to choose any licensed lender you like. Real Estate Search and Sale, LLC can provide contact information for lenders in our network of service providers. Comparing more than one lender can help you understand your options. Real Estate Search and Sale, LLC does not receive payments from service providers whose contact information we share.

Communities We Serve

The communities below are a sampling of the many areas Real Estate Search and Sale, LLC serves. In Montgomery County, we work with buyers in Rockville, Bethesda, Potomac, Silver Spring, Gaithersburg, Germantown, and North Potomac. In Frederick County, we serve Frederick, Urbana, and the surrounding towns. Home buyers enjoy community favorites such as Pike and Rose in North Bethesda, the Capital Crescent Trail in Bethesda, and Baker Park in downtown Frederick. This is only a sampling of the many communities we serve across Maryland, Virginia, Washington DC, West Virginia, and Florida.

Learn More at Our Free Home Buyer Seminar

Join us on Tuesday, January 26, 2027, from 7:00 to 8:30 p.m. on Zoom for our Free Home Buyer Seminar. Independent guest presenters, including a lender, will walk you through the buying process from pre-approval to closing. Register for the Free Home Buyer Seminar for Maryland home buyers.

Selling a home before you buy? Our Free Home Seller Seminar is Thursday, January 14, 2027, from 7:00 to 8:30 p.m. on Zoom. Learn about the Free Home Seller Seminar in Montgomery County.

Frequently Asked Questions

When should I get pre-approved? Before you start touring homes. A pre-approval helps you set a comfortable budget and makes your offer stronger.

How long is a pre-approval good for? Many pre-approvals are valid for a limited time, often around 60 to 90 days. Ask your lender, and update it if your search takes longer.

Does getting pre-approved affect my credit? A lender's credit check may have a small effect on your credit score. Ask your lender how they handle credit checks.

How much do I need for a down payment? It depends on the loan type and your situation. Some loans allow a lower down payment than many buyers expect to see. Your lender can explain your options.

Can I buy a home with a Veterans Affairs loan in Maryland? Yes. Eligible veterans, service members, and some surviving spouses can use Veterans Affairs loans to buy homes in Maryland. Carolyn's MRP (Military Relocation Professional) designation reflects her training in helping military families.

Should I compare more than one lender? Many buyers find it helpful to compare loan terms, fees, and service from more than one lender.

Talk With Carolyn

Call our 24-Hour Appointment Desk at 202-630-5070, or schedule a call with an Accredited Buyer's Representative (ABR) at a time that works for you. A list of references is provided on request.

Real Estate Search and Sale, LLC is not a lender, law firm, or tax adviser and does not provide financial, legal, tax, or accounting advice. Loan programs, eligibility, and terms are set by lenders and may change. Consult a licensed lender, attorney, or tax adviser with questions. Real Estate Search and Sale, LLC, 1300 Piccard Dr., Suite 204, Rockville, MD 20850. Equal Housing Opportunity.