The Gaithersburg housing market is competitive, with a range of homes available for buyers. The median home price is around $450,000, and prices vary by neighborhood and property type. According to recent data, the Gaithersburg market is experiencing a moderate level of growth, with home prices increasing by around 5% over the past year.

Some popular neighborhoods in Gaithersburg include:

• Downtown Gaithersburg: Known for its vibrant downtown area, with shops, restaurants, and community events.
• Wheaton-Gaithersburg: A diverse neighborhood with a range of housing options, from apartments to single-family homes.
• Gaithersburg-Germantown: A growing area with a mix of new developments and established neighborhoods.

Property taxes in Gaithersburg average approximately 1.06% of assessed value. This translates to manageable monthly costs when factored into your mortgage payment. For example, on a $450,000 home, you can expect to pay around $4,770 per year in property taxes.

It's essential to consider property taxes when calculating your overall housing costs. NMHL can help you understand how property taxes will impact your mortgage payment and provide guidance on how to minimize your tax liability.

Gaithersburg is served by the Montgomery County Public Schools (MCPS) system, which is highly rated in Maryland. The city is home to several top-performing schools, including Gaithersburg High School and Wheaton High School.

School districts can have a significant impact on home values, so it's essential to research the local schools when considering a neighborhood. NMHL can provide guidance on the local schools and help you find a home in a neighborhood that meets your needs.

Maryland offers several programs to support first-time homebuyers, including the Maryland Mortgage Program (MMP) and the Maryland Homefront Program. These programs provide affordable financing options, down payment assistance, and other benefits to help first-time homebuyers achieve their goals.

NMHL can help you navigate these programs and find the best fit for your situation. Our experienced loan officers can guide you through the process and provide personalized service to ensure a smooth transaction.

At NMHL, we understand that not all borrowers have the same needs or financial situations. That's why we offer a range of mortgage programs designed to serve underserved borrowers, including:

• FHA loans: For borrowers with lower credit scores or smaller down payments.
• VA loans: For eligible veterans and active-duty military personnel.
• Self-employed mortgage programs: For borrowers with non-traditional income sources.

Our experienced loan officers can help you find the best program for your situation and provide personalized service to ensure a smooth transaction.