Home is where the Real E$tate is by Fergus

Hello and welcome back to my blog: If you're renting in the DMV—maybe paying around $2,700 a month—you’re not alone. But if you’ve been wondering whether that same monthly cost could be building equity in a home instead of paying someone else’s mortgage, it may be time to explore your options. As a local realtor, I’m not here to give financial advice or tell you what you can afford—but I can help you understand what questions to ask, what programs are out there, and how to connect with the right people who can guide you through the numbers. With that being said I am using a hypothetical amount for illustration purposes. There are some who pay less and some who pay more, of course. 📌 Mortgage Rate Snapshot (June 2025) Washington, D.C. area averages: 30-Year Fixed: ~7.25% 15-Year Fixed: ~6.25% National average (30-Year):  ~6.85% 📉 Rates have dipped slightly, but remain elevated compared to past years. Buyers are exploring smart strategies to make ownership more affordable and conve...