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resale homes: Mortgage Bank VS. Mortgage Broker, in Loudoun County, and out! - 06/01/07 10:38 PM
It's no secret that home lending market has tightened up quite a bit...and it's difficult getting answers on loan applications and pending closes that you can rely on....or....well....take to the bank. I know of a number of high loan-to-value deals where the buyers are using mortgage brokers who are subject to the rules and policy changes of the banks...and yes, banks are changing their programs all the time.
If you are ready to buy a home, do yourself a favor and get pre-approved by more than one lender, with at least one of the lenders being a bank that does in-house underwriting.
In … (1 comments)
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resale homes: High loan to value? At a time like this? - 05/07/07 11:49 PM
The surprises don't stop, even in this market. However, this time they are pleasant surprises.
The Loudoun County resale market doesn't have its usual energy this Spring, to say the least. Coupled with tighter lending practices, my associates and I were bracing (although we're always hopeful) for a tough Spring...it would take a text book buyer to get qualified to buy in this market.
Then it happened...though we doubted it would, as did the several loan officers I spoke with...a high Loan-to-Value deal with low down payment got approved. And this just weeks after the Countrywide announcements and the related industry news.
I'm … (0 comments)
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resale homes: Impact of New Builder Slowdown? - 04/17/07 12:42 PM
In Western Loudoun County, the new home builders are really getting aggressive on their pricing to attract every buyer they can...and that is really putting downward pressure on the resale market just few miles, or even a few blocks, away. builders simply have better pricing power than nearly any homeowner that has bought in the past 5-6 years. Key for resale sellers....get in like-new condition, continue to plant and have "mature lawn" advantages, and make the necessary updates like granite, newer-style lights, and updated faucets. Even small things can give a youthful appearance to pre-owned homes.
Your preferred local realtor, or I, would be glad to assist in any way. Best, … (0 comments)
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Nikola Tadie
Leesburg,
VA
More about me…
EXIT Realty Talbot and Company
Address: 44121 Harry Byrd Hwy, Suite 205, Ashburn, VA, 20147
Office Phone: (703) 579-7612
Email Me
Loudoun County, VA and Fairfax County, VA real estate blog site to discuss trends and observations of homes for sale listings and transactions in Leesburg, Purcelleville, incl Lansdowne, Ashburn, Brambleton, River Creek, Potomac Station, Red Rocks, Belmont Country Club, Beacon Hill, Shenstone Farm, Heather Knolls. Great Falls, Vienna, Fairfax, Reston, Herndon and Dulles, VA
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