fha loans: Are Closing Costs The Same As Down Payments? - 05/01/12 06:57 AM
Many first time buyers in Virginia have asked me this question, "Are closing costs the same as down payments?" In this week's video tip your FHA Mortgage Lender explains down payments and closing costs when buying a home in Woodbridge, VA
If unable to view the video click here. No Closing Costs … (0 comments)
fha loans: Buyers don't want a mortgage By FHA Mortgage Lender - 03/19/12 07:02 AM
As a FHA Mortgage Lender I have come to the conclusion that buyers do not want a mortgage. What they do want is a place to create memories, security, stability, or maybe to start a family. Hey first time buyers let's not put the cart before the horse. Unless you can pay cash a mortgage loan is a means to an end. So before you go to find your stability, security, and a place to call your own, it is a must to get pre approved for financing. Never find your new home without finding your new mortgage loan. Below is … (2 comments)
fha loans: 50" Inch Flat Screen and Downpayments - 01/31/12 11:40 AM
FHA Loans require a three and a half percent downpayment of the sales price. There are several acceptable sources of FHA Downpayment. In this week's video tip FHA Mortgage Lender, Markita Woods, answers the question about tax returns and FHA Loans
Having trouble viewing the video click "FHA Downpayment Sources" … (2 comments)
fha loans: Move Up Buyers Have Options - Woodbridge Mortgage Lender - 11/21/11 09:39 AM
Carl and Andrea are a young professional couple married five years ago. At the time Andrea owned a well maintained townhouse in Woodbridge, Virginia. So the couple decided to make this the family home. Fast forward to the present day Carl and Andrea are ready to start a family and realize their present home is not big enough for a nursery and a guest room, which is really important to them as their families visit frequently. Carl and Andrea want to move up to a larger, single family home. Of course, they have heard the news and read the papers about … (1 comments)
Photo from Vegnews.com FHA Loans will have lower sales price limits in the Washington DC Metro Area from $729,750 to a $625,000 for a single family home purchase. This decrease is definitey a trick as many homebuyers will find it difficult to find purchase money loans for larger size homes and sales prices with lower down payments. Here is a list of counties affected from the HUD mortgagee letter in May. USDA Loans are a trick and treat. USDA is lowering its … (47 comments)
fha loans: I Will SELL My Car To Buy This HOUSE! - 05/28/11 09:09 PM
I will sell my car to buy this house states one first time buyer in Virginia.Wow what an unexpected statement in the days of instant gratification and where cars seem to cost as much as houses.
The first time buyer was trying to figure out how to come up with a down payment for his FHA Loan Purchase. Initially, he was going to use the first time buyer program in Virginia, which allows buyers with a 620 credit score to finance the FHA down payment with a small second mortgage. After closer review of ther numbers the first time buyer would not … (7 comments)
fha loans: Woodbridge Home Buyers....So You Showed Me The Money - Now Show Me Where It Came From! - 12/22/10 12:57 PM
We recently had a FHA 30 Year Fixed Purchase Loan Closing DELAYED due to the fact the borrower was unwilling to source a large deposit into her bank account. It turns out the funds were a gift which is okay for FHA and VA home loans but the gift must be documented upfront.... Woodbridge VA homebuyers need to know that its great you have money but as Tamara Inzunza, Associate Broker of McEnearney Associates, Inc. writes below please be able to Show Me ,Your Woodbridge FHA/VA Lender, the Money...
Via Tamara Inzunza, CRS, ePro | Alexandria VA Real … (1 comments)
fha loans: Energy Efficient Mortgages - How to save money monthly - Part 1 - FHA Loans going 'Green' - 11/22/10 09:53 AM
Did you know FHA offers an energy efficient mortgage to help you save money when buying or refinancing your home? This post by Jeff Belonger summarizes this great program for FHA Loans and Going Green. This loan is great option when buying Woodbridge foeclosures or Woodbridge short sales that need energy efficient updates. Your Woodbridge FHA/VA Lender offers this program for FHA and VA Loans! Via Jeff Belonger-The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans ( - FHA Home Loans - Infinity Home Mortgage Company, Inc):
Energy Efficient Mortgages aren't talked about much, … (3 comments)
Since FHA Loans are very popular right now I want to share the top ten questions that I am most frequently asked by clients considering purchasing a home.
1. What is a FHA Loan?
A FHA Loan is a federally insured loan that allows lenders to approve home loans with low down payments, low closing costs, and less strict credit guidelines. … (4 comments)
Former Washington Mystics Player Now Woodbridge FHA/VA Lender. Oh those were the days running out on the court in front of fthousand fans to play a game I love, needless to say it was a dream come true! Nights of studying game film of the other teams have been replaced with nights of studying loan underwriting guidelines. I competed against fast, strong basketball players, now I compete against other lenders, appraisals, and … (2 comments)
fha loans: FHA 203K Streamline: Repair Your Home or a Woodbridge, VA Foreclosure, Bank Owned, or Short Sale Property - 06/21/10 12:08 PM
Do you need money to repair your home or you're buying a Woodbridge, VA foreclosure, bank owned, or short sale property? If so, the FHA 203 (k) Streamline loan may be right for you. The FHA 203(k) streamline loan allows up to $35,000 in repairs by licensed contractors. See my blog post about "buying the home of your dreams, almost" .
The FHA 203K loan is available for existing homeowners that need to upgrade or repair your existing property. Here are the steps to completing a FHA 203(k) purchase or refinance: Locate Property if it is not your current home … (2 comments)
fha loans: Virginia First Time Buyers Programs Increase Income Limits - 03/08/10 10:06 AM
Virginia First Time Buyers Programs Increase Income Limits The very popular VHDA Program has increased first time buyer income limits in the entire state but the Washington Metro area received a large boost to help more buyers with credit 620 score or higher qualify for financing through there first time buyer programs. Income limits for single person households increased from $86,900 o $97,500 and from $100,000 to $115,000 for households of three or more. The biggest hurdle besides credit for many first timers is cash for a down payment well VHDA's FHA Plus has solved this problem. The program allows eligible borrowers to … (2 comments)
After chatting with Peggy James, a super-duper agent with Exit Realty, she informed that some credit unions are issuing 45 to 60 day approvals. Sixty days, oh my what's the problem? After you have found your home of choice are you going to lose the contract based on the closing date, maybe. No offense Navy Federal and USAA but sixty days in our (sellers) … (1 comments)
fha loans: Another Satisfied Client Using VA Home Loan in Woodbridge Virginia - 01/20/10 12:12 PM
As your loan officer I am going to be with you from application to closing. After a very recent closing I attended, maybe I should rethink this. This closing was by far the worst settlement I have ever attended. First the closing was delayed by 15 days by a seller who refused to vacate the "short sale property". Then while at the closing the sellers girlfriend swiped some papers from the closer, ripped them apart, and then started speaking very rude and loud to the closer. She then proceded to storm out of the room. Thank God for a great closer. … (2 comments)
fha loans: FHA has lifted the 90-day seasoning requirement! - 01/18/10 12:16 PM
FHA has finally lifted the rule that has held back many buyers in Woodbridge, VA from purchasing renovated homes from investors. Basically Veterans and Active Military had no competition when purchasing these great deals. We will see how this rule actually applies in the near future to the Woodbridge, VA market. I hope there are less listings with the NO FHA CLAUSE. Checkout this post from Dave Rosenmarkle:
Via Dave Rosenmarkle (Highland Realty): The news is spreading fast... As reported out from FHA on January 15, 2010 - HUD TAKES ACTION TO SPEED RESALE OF FORECLOSED PROPERTIES TO NEW … (1 comments)
fha loans: Do I Need Mortgage Pre-Approval To See a Home in Woodbridge VA! - 01/16/10 01:02 PM
So it's a lazy Saturday afternoon, the beginning of a three day weekend in Woodbridge VA. And while surfing the net you came across some beautiful homes in your area. You call over your spouse and say what do you think? And sure enough the home listing has peaked his curiosity as well. The family really has outgrown the three bedroom apartment, you keep hearing its a great time to buy a home (low prices and $8,000 bonus cash makes a home an excellent investment), and you are just ready to get out and visit some properties. Well you call and … (3 comments)
fha loans: Purchasing A Home in Woodbridge, VA without a Down Payment Or Veteran Home Loan Eligiblity - 01/13/10 03:12 PM
Lately I have been asked where all the 100% financing programs? They still exist for buyers that have VA Loan Eligibility in the DC Metro Area. Or buyerss willing to live in Rural Development areas. The property address will determine the Rural Development eligibility.You can visit www.IsThisHomeRD.com for more information. Of course, Woodbridge, VA would not be considered a rural area unless it was 20 years ago.....
The next best alternative to VA or Rural Development loans is VHDA FHA Plus financing. If you do not have downpayment but desire to purchase a home in Woodbridge, Virginia and surrounding areas. … (3 comments)
fha loans: The Tax Credit and Repeat Buyers: What Move Up Buyers Need to Know About New Loan Qualifications. - 12/10/09 11:51 AM
The Homeowner’s Tax Credit Extension has been extended to include repeat and move up buyers. Buyers will be eligible for up to $6,500 tax credit if purchasing a new principal residence before April 30th. For frequently asked question about the tax credit and who qualifies click here: http://www.federalhousingtaxcredit.com/faq2.php Mortgage financing has probably changed since you purchased your home. Here’s a few things you should know about mortgage approval in today’s world of short sales, bailouts, and foreclosures. Gone are the days of low down payments with no income or asset verification. Today’s closing dates are targets due to the changing landscape … (0 comments)
Related Links:
Markita Woods FHA and VA Loans Woodbridge Mortgage Lender
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Many first time buyers in Virginia have asked me this question, "Are closing costs the same as down payments?"
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