virginia: I transferred to a new location, Maryland here I come!! - 12/16/09 12:58 PM

Hello Everyone!  I know its been a while since my last blog post but with the tired cliche...I been super busy of course hehe :)
So anyways  I am no longer in Virginia Beach, Virginia no more.  I have lived in Virginia off and on for almost my entire life, this is my hometown you might say.
Well in November I just recently got Married to my wonderful wife who works for Intelligence in the United States Navy.
Recently she just got orders to be stationed on Andrews Air Force Base in Maryland and being a great husband that I … (9 comments)

virginia: FHA Down Payment Assistance Program Alternatives - 10/23/08 01:10 PM

The Bad News…DAPS Going Away The Housing and Economic Recovery Act of 2008 eliminates seller-funded down payment assistance programs (DAPs) as an acceptable source of funds for FHA loans for all lenders. Officially, the Act eliminates seller-funded DAPs on FHA loans with final credit approval issued to the borrower on or after Oct. 1 2008
But There is Good News… FHA Alternatives
FHA Cash to Close Savings Plan FHA Sweat Equity FHA Bridal Registry Account 1st Time Home Buyer Tax Credit City Free Grants / Municipal Programs State Programs / V.H.D.A USDA Rural True 100% Loans FHA Cash to … (30 comments)

virginia: National Flood Insurance Plan Extends 6 months by Congress - 09/30/08 03:42 PM

The National Flood Insurance Program was developed by congress address both the need for flood insurance and the need to lessen the devastating consequences of flooding.
The program was set to expire today September 30th 2008 but was passed earlier this week for another 6 months by the House of Representatives and must still be signed by President George W. Bush.
This is a temporary measure due to the simple fact of not coming to a permanent agreement in whether we need to add wind coverages to flood insurance and finding a solution to the programs debt.
The National Flood Program … (4 comments)

virginia: First Time Home Buyer Overview and Quick Tips - 09/09/08 07:01 PM

There are some great benefits in being a First Time Home buyer but what exactly defines a First Time Home Buyer and what are the benefits you may ask?
A First Time Home Buyer is considered an applicant who has not have held an ownership interest in a principal residence within the past three years.
Benefits of being a First Time Home Buyer:
On FHA Loans the MIP Cap of 2.25% can be lowered to 2.0% if the client is a First Time Home Buyer Eligible to qualify for State Specific Finance Companies like VHDA for Virginia … (7 comments)

virginia: VHDA 103% Financing FHA Plus Loan - 09/09/08 05:58 PM

VHDA is Virginia's State Finance Company which more can be found here in my previous blog.
With the Down Payment Assistance programs being eliminated here shortly, there are very few true 100% loan programs out there.
There is hope though, VHDA has a loan program called FHA PLUS which is VHDA financed and FHA insured designed to help First Time Home-buyers gain home-ownership.
Contact your local mortgage professional who is licensed for VHDA loans. (I am in the Virginia Beach Area and fully licensed)
Here is a quick overview of the loan
This is a piggyback Combo loan with … (9 comments)

virginia: Saying Goodbye to Summer and Going Old School 80's in Virginia Beach - 08/28/08 03:24 PM
This Labor Day Weekend at the Ocean Front on 5th Street in Virginia Beach will bring back a blast from the past.
Here is the line up
Friday August 29th 6:30 PM:  Morris Day & The Time (with En Vogue and Bell Biv Devoe)
Saturday August 30th 7 PM: Billy Idol (with The Blackjacks)

Sunday August 31st 6:30 PM: B-52s (with The Motels featuring Martha Davis)
You can buy an all ticket pass for $30 Dollars or buy individual tickets between $15-25 each.
Personally I am attending the Show on Saturday to go see Billy Idol, I am an … (8 comments)

virginia: Its not FHA - Its VHDA: The FHA Alternative in Virginia. - 08/14/08 03:50 PM

What is VHDA?
VHDA stands for Virginia Housing Development Authority.  Its Virginia's Mortgage Finance Agency. Most every state has their own Finance Agency.
VHDA was created in 1972 by the General Assembly of Virginia to help overcome barriers to affordable housing.
VHDA is not for everyone.  The eligibility requirements does have a few restrictions not limited to the following:
Household income of 65k and below for Virginia Beach County (Does vary for each county contact your mortgage expert) Underserved Minorities Disabilty and Ederly  
The main difference is VHDA is more local driven … (7 comments)

virginia: The Waiting Game Simplified - 08/12/08 04:02 PM

We all hear the lines "Now is the time to buy" "Lock in rates now" "Hurry up, Take Advantage now"
These liners all have the same point in which to bring in a sense of urgency but we do we know the whole picture why its a bad idea to wait?
I am going to break it down very simplified and to the point to show you what your options really are.
Waiting for the rates to drop:
Sure rates can drop but rates can also rise.  Its best to lock in your rate now to secure your payment. … (13 comments)

virginia: FHA Quick Savings Tip Regarding Increased MIP Change - 07/31/08 04:19 PM

Risk Based Mortgage Insurance Premiums
July 14 2008 FHA implemented a new system for the Mortgage Insurance Premiums.
FHA Premiums has been normally 1.5% and have now increased up to 2.25% based on credit worthiness.
Money Saving Tip
There is a way to avoid paying the max tier of 2.25%.
Participating in a Pre-Purchase Counseling by a HUD approved counseling agency can cap your max tier at 2.0% for First Time Home Buyers.
You can find a list of approved counselors on HUD's main website Hud Approved Counseling
Key-Points to Counseling
Counseling must be completed before … (2 comments)

virginia: Positive Spin on Down Payment Assistance Programs Gloom - 07/29/08 12:56 PM

Hud has been playing the Grim Reaper on the Down Payment Assistance Programs lately.
As most are aware the Down Payment Assistance Programs has helped many homeowners in the past acquiring down payment assistance for government loans that required a minimum of 3% down.
Recently HUD has made it clear that the Ban will take place on October 1st 2008 eliminating DAP's.
Another change taking place is the increase from the minimum 3% down payment required to ---> 3.5% now. The increase also will start on October 1st 2008.
The Ticking Time Bomb
Now nothing is … (16 comments)

virginia: Tax Incentive For First Time Home Buyers - 07/28/08 03:17 PM

Great News  - Great News - Great News
A new incentive passed by the Housing and Economic Recovery Act of 2008 allows First Time Home Buyers to receive a $7,500 Tax Credit from the purchase of their new home.
From June 1st 2008 - June 1st 2009 will be in effect. ( Can be retroactive back to April 2008 ) Income restrictions is $75k income for Singles and $150k income for married couples. This is a Tax Credit and not a Tax deduction which means mostly will add to your refund money instead of just another write off.  For … (6 comments)

virginia: 5 Tips in Virginia Beach To Save Money And Enjoy Summer - 07/14/08 11:19 AM

Lets face it, we all can save a little bit more money nowadays with the increase in economy rises but that doesn't mean it will buzzkill our summer.
Here locally in Virginia Beach is just 5 simple tips to save some money and still have fun.
1.) Local Gym - If all the fancy Gyms and work out centers are too much try looking into your local Recreation Center.
There is a local City built Recreation center in almost every neighborhood and county.  I currently use the Princess Anne Rec Center and I only paid $35 for the … (7 comments)

virginia: FHA 203k Streamline vs 203k Full Renovation - 06/13/08 03:57 PM
Renovation Lending
The main concept behind these loans a.k.a Rehab, Renovation, 203k and Home Improvement loans is quite simple, clients who wants to finance the costs of home improvements through the mortgage for a purchase or refinance.
Financing the costs of the home improvements through the mortgage can be cheaper than high interest credit cards, emergency savings and high interest unsecured loans.

Don't worry about the appraised value if the house is in bad shape, the loan is based on the after improved value of your improvements.
Typically these loans can close in 30-45 days, with contract work started … (15 comments)

virginia: Ability Camp Fundraiser For Cerebral Palsy June 23rd to August 22nd - 06/13/08 02:26 AM

A client of mine Scott Doverspike, who I known ever since I got in the Mortgage Business 5 years ago, reached out to me asking for assistance in raising funds for his son Tyler.
Tyler was born prematurely with lungs not fully developed. This has caused lack of oxygen reaching the brain damaging his motor skills and speech.
This condition is known as Cerebral Palsy and currently there is no known cure. It is a non-progressive disorder, meaning the brain damage does not worsen, but secondary orthopedic difficulties are common.

CP is the second-most expensive developmental disability to manage … (3 comments)

virginia: FHA Non-Occupying Co-borrowers Great For Your Children In/After College - 06/04/08 04:13 PM

FHA Mortgage Allows Non-Occupying Co-Borrowers
A Co-Borrower on many Conventional Loans must state that the Co-Borrower occupy the property therefore eliminating parents trying to co-sign on a deal because they want to reside in their current residence.
FHA Mortgages allows a Non-Occupying Co-Borrower to help in homeownership from a family member to help strengthen the loan. (Non-OCC's can be on Refinances but limited to 75-85% LTV rate/term & cashout)
The Co-Borrower must be a close family member or demonstrate a long-standing family relationship with the primary Borrower. If no such relationship can be verified, the LTV cannot exceed … (9 comments)

virginia: Hello Fresh Start! Goodbye Chapter 13 Bankruptcy - 05/27/08 12:53 PM

Fresh New Start After A Bankruptcy
Just because you filed for a Chapter 13 Bankruptcy, doesn't mean that all hope is lost.
Yes! You can obtain a Chapter 13 Refinance utilizing a Bankruptcy Buyout putting all your worries behind you.
Nobody is perfect and many homeowners file for a Chapter 13 for a variety of reasons but the bottom line is everyone deserves a second chance and a chance to get a fresh new start.
There are still many programs out there even on Government loans that can help you obtain peace of mind.
The ABC's of the … (5 comments)

virginia: Market Report in Virginia Beach Regarding Mortgage Options - 05/26/08 05:02 PM

Quick Market SnapShot in the 757
As you can see in the Demographic Stats above for the Virginia Beach Area, the numbers has it's Pros and Cons.
We are not in a Declining Market compared to the rest of the Nation and even our brothers and sisters up North in Virginia.  Having a 0.9 Ratio in foreclosures is pretty tame. We are not in a Upside Market compared to the rest of the Nation.  The Median LTV is 85% which is excellent in having that emergency equity. Cons
50% Late Payments in the last 12 months.  Seems like … (3 comments)

virginia: 2600 Heston Road, Virginia Beach, Va 23451 (Gorgeous Waterfront Property) - 04/17/08 12:36 PM

More details available at … (7 comments)

virginia: Virginia - First State to mandate schools for Internet Safety Classes - 04/10/08 05:03 PM
More children are taking part of social network sites and becoming more internet accustomed ever than before.
Rewind back 10years or so and even thinking about internet safety in classrooms may not seem important but as the internet gap becomes more of a household activity than unknown, the internet safety class should become more clear.
Myspace crimes / sex offenders headlines are raising more awareness
Assistant Attorney General Gene Fishel, chief of the computer crimes section in the Virginia attorney general's office, talks to students in Shari Hayward's business and information class at James River High School on Tuesday, Feb. 12, 2008, in Chesterfield, … (3 comments)

virginia: Running For A Great Cause - 03/19/08 03:58 PM
 [Photos Virginia Pilot]
Several thousand participated in the Shamrock Marathon and half-marathon on Sunday in Virginia Beach. 
More than 100 runners participated Sunday to honor Mike McGreevy, a Navy SEAL killed in action in Afghanistan in 2005.
McGreevy was an avid runner. So his wife, Laura, organized Team Groove - McGreevy's nickname was Groove because he liked to dance - to raise money for the Mike McGreevy Memorial Scholarship Fund, which awards two scholarships per year.
Between a fund raising pull-up contest, the race and donations (, the group raised more than $10,000.
One of my refinance clients is an active runner and … (2 comments)


Justin Williams

Loan Officer

Virginia Beach, VA

More about me…


Address: 9094 Baltimore Avenue, College Park, Md, 20740

Mobile: (310) 951-5173

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