Jeffrey Novotny at First Heritage Mortgage in Baltimore: Fixed and Adjustable Rates for Owner-Occupants and Investors

First Heritage Mortgage operates as a mortgage broker serving the Baltimore metropolitan area, handling conventional, FHA, VA, and jumbo loans for owner-occupied homes and investment properties. Jeffrey Novotny works as a loan officer in the operation, advising borrowers on rate structures and loan terms rather than requiring them to work through a single lending institution's underwriting process.

How a broker differs from a bank mortgage department

A mortgage broker like First Heritage acts as an intermediary between the borrower and multiple wholesale lenders, meaning Novotny can shop loan products across dozens of sources rather than offering only in-house options. A borrower working with a bank's mortgage arm, by contrast, receives terms and rates the bank itself originates. Brokers typically charge an origination fee (commonly 0.5 to 1.5 percent of the loan amount) and may earn compensation from lenders when a loan closes. Banks build mortgage revenue into their lending margins. For borrowers in the Baltimore market, this distinction matters: a broker can hunt for the lowest rate among multiple lenders, but that rate advantage depends on which lenders have excess capacity and how aggressively they price at the moment you apply.

Loan types and what to compare

First Heritage handles conventional mortgages (typically requiring 5 to 20 percent down, with private mortgage insurance if down payment is under 20 percent), FHA loans (3.5 percent down, government insurance), VA loans (zero down for qualifying veterans), and jumbo loans exceeding the conventional lending limits (currently $766,200 for a single-family home in Baltimore County in 2025; verify with the lender as limits shift annually). The broker also works with investment property financing for landlords purchasing rental homes or multifamily properties.

When comparing loan offers, focus on three variables: interest rate, points (a one-time fee paid upfront, typically 1 point equals 1 percent of the loan amount, and buying points lowers the rate), and total closing costs including origination fees, title insurance, appraisal, and underwriting. A lower quoted rate may be offset by higher points or fees. Request a Loan Estimate from multiple lenders to see the true cost side by side. Adjustable-rate mortgages (ARMs) typically offer lower initial rates than fixed-rate loans but carry the risk that rates will reset higher after the initial fixed period (commonly 3, 5, 7, or 10 years). A 30-year fixed mortgage shields the borrower from future rate increases but locks in a higher initial rate than an ARM.

How First Heritage compares to other Baltimore-area brokers

Brokers in the Baltimore market include company like Homepoint and Better Mortgage, which operate heavily online and target borrowers comfortable with digital-only applications. First Heritage positions itself as a local operation where borrowers can meet with a loan officer like Novotny to discuss options in person. Online brokers often advertise faster closings and no geographic restrictions, but they offer less personalized rate shopping and may route loans through a narrower set of lenders. A borrower who values face-to-face guidance and local knowledge of Baltimore neighborhoods and property types may prefer meeting with Novotny; a borrower prioritizing speed and convenience may move faster online. For complex scenarios (investment property, credit challenges, self-employment income), an in-person broker relationship often yields more flexible underwriting.

Who First Heritage suits and who it does not

First Heritage is suited to owner-occupants saving for a home in the Baltimore region (urban, suburban, or exurban properties), investors acquiring rental properties, and borrowers refinancing existing mortgages. It also serves borrowers with FHA or VA eligibility who need specialized guidance on those programs. The operation does not suit borrowers seeking to close in fewer than 10 business days, those who lack internet or phone access to provide documents, or borrowers unwilling to discuss finances in detail with a loan officer.

What the first meeting involves

An initial call or office visit with Novotny typically covers the borrower's financial profile (income, debts, savings for down payment and closing costs), the target property or price range, and timeline. Novotny will request pay stubs, tax returns, bank statements, and employment verification. He then runs a credit check, determines the borrower's debt-to-income ratio (most lenders require it below 43 to 50 percent), and provides a Loan Estimate showing available loan options, rates, and costs. The process from application to clear-to-close typically takes 30 to 45 days, depending on complexity and appraisal delays.

Hours and logistics

First Heritage operates standard business hours; confirming current hours by phone or website is wise since broker offices often work by appointment rather than walk-in. Contact Novotny or the office directly to schedule a consultation. Payment and closing occur at settlement, handled by a title company.

First Heritage Mortgage serves the Baltimore area by offering broker-level access to multiple lenders, a practical advantage for borrowers comparing rates. Novotny's role as a local loan officer makes the operation a realistic alternative to online brokers for anyone who values a conversation with a named person before committing to a mortgage.