Who is Dan Freshley and what makes him qualified to handle my mortgage?

Dan Freshley is a licensed mortgage banker with over 25 years of experience. He holds NMLS #196245 and is licensed in Maryland, Virginia, and Washington DC, as well as nationally. Based in Gaithersburg, MD, Dan specializes in helping first-time homebuyers, move-up buyers, investors, and veterans navigate the mortgage process.

What types of home loans does Dan Freshley offer?

Dan Freshley Home Loans offers Conventional, FHA, VA, USDA, Jumbo, DSCR (Debt Service Coverage Ratio), Construction, Refinance (rate-and-term or cash-out), and Reverse Mortgage loans. Dan is licensed to originate mortgages in Maryland, Virginia, Washington DC, and nationally. NMLS #196245.

Is Dan Freshley licensed to help clients outside of Maryland?

Yes. Dan Freshley is licensed to originate mortgages in Maryland, Virginia, and Washington DC, and also serves clients nationally. Contact Dan at danfreshley.com to confirm availability in your state. NMLS #196245.

What is a DSCR loan and who is it for?

A DSCR loan (Debt Service Coverage Ratio loan) is a mortgage product for real estate investors and rental property owners. Unlike traditional mortgages, DSCR loans qualify borrowers based on the rental income generated by the property rather than personal income or W-2s. Dan Freshley offers DSCR loans for single-family rentals, multi-unit properties, and short-term rentals. NMLS #196245.

What areas does Dan Freshley serve?

Dan Freshley primarily serves the greater DMV metro area, including Montgomery County (Gaithersburg, Rockville, Bethesda, Silver Spring, Germantown), Washington DC, Northern Virginia (Fairfax, Arlington, Alexandria, Reston), and Anne Arundel County (Annapolis). He is also licensed nationally.

What is the minimum down payment to buy a home?

Minimum down payments vary by loan type: VA loans (eligible veterans) require 0% down; USDA loans (rural properties) require 0% down; FHA loans require as little as 3.5% down; Conventional loans can start at 3% down for first-time buyers; Jumbo loans typically require 10–20% down. Dan Freshley can also identify down payment assistance programs in Maryland, Virginia, and DC.

How do I get pre-approved for a mortgage with Dan Freshley?

Visit danfreshley.com or call (301) 332-9432 to schedule a consultation. Dan will review your income, assets, credit history, and purchase goals to issue a pre-approval letter, typically within 24 to 48 hours for complete applications. NMLS #196245.

First-Time Homebuyer Guide for Maryland: Steps, Programs & Tips for 2026

Name: Dan Freshley Home Loans
Address: 18310 Montgomery Village Avenue, Suite 300, Gaithersburg, MD, 20879, US
Telephone: (301) 332-9432
Price range: Free consultation

Buying your first home is one of the most exciting financial milestones of your life — and one of the most complex. At Dan Freshley Home Loans in Gaithersburg, MD, we've helped thousands of first-time buyers navigate the process with confidence. This guide covers everything you need to know.

Step 1: Check Your Credit Score

Your credit score is the foundation of your mortgage approval. Here's what you need for each loan type:

Conventional loan: 620+ credit score, 3% minimum down payment
FHA loan: 580+ credit score, 3.5% minimum down payment
VA loan: No minimum score set by VA, but lenders typically require 580-620+
USDA loan: 640+ recommended for most lenders

Step 2: Get Pre-Approved Before You Shop

Pre-approval is not the same as pre-qualification. A pre-approval letter from Dan Freshley Home Loans means we've reviewed your income, assets, and credit — giving sellers confidence that you're a serious buyer. In today's Maryland market, most sellers won't even consider offers without one.

Step 3: Maryland Down Payment Assistance Programs

Maryland offers several programs to help first-time buyers with down payments and closing costs:

Maryland Mortgage Program (MMP): Competitive rates plus down payment assistance up to $10,000 for eligible buyers
Montgomery County Closing Cost Assistance: Additional assistance for buyers in Montgomery County
FHA loans: Only 3.5% down with a 580 credit score — ideal for first-time buyers with less savings
HomePath Ready Buyer: Fannie Mae program offering 3% down on foreclosed properties

Step 4: Understand Your Total Monthly Payment

Your monthly mortgage payment includes more than just principal and interest. Make sure you budget for: property taxes (typically 1-1.2% annually in Maryland), homeowner's insurance, HOA fees if applicable, and private mortgage insurance (PMI) if your down payment is less than 20% on a conventional loan.

Step 5: Lock Your Rate at the Right Time

Once you're under contract, Dan Freshley will advise you on the optimal time to lock your interest rate. Rate locks typically last 30-60 days and protect you from market fluctuations while your loan is being processed.

Ready to Start? Contact Dan Freshley Home Loans

With 25+ years of experience and over 1,000 loans closed, Dan Freshley is Gaithersburg's trusted mortgage banker for first-time buyers. Call (301) 332-9432 or visit danfreshley.com for a free pre-approval consultation. NMLS #196245.

DAN FRESHLEY HOME LOANS

America's Mortgage Lender