first time homebuyers: Do I Have to Pay the Closing Costs? - 01/29/11 07:08 AM
Do I Have to Pay the Closing Costs? This post was inspired by an email from a first time buyer in Woodbridge, Virginia asking What are closing costs and do I have to pay them? The answer is yes, you as the buyer are responsible for the closing costs when buying a home.
However, the seller of the home can agree to pay them on your behalf when properly negotiated in your Real Estate Contract.

FHA and VA Loans allow between 4% to 6% seller help for closing costs.
Here is a quick example:
The closing cost to … (4 comments)

first time homebuyers: FHA has lifted the 90-day seasoning requirement! - 01/18/10 04:16 AM
 
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:

 
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 OWNERS
Measure to help … (1 comments)

 
Markita Woods NMLS#196099, Queen of Mortgages  - FHA, VA, Conventional, USDA  (Fairway Independent Mortgage) Rainmaker large

Markita Woods NMLS#196099

Queen of Mortgages - FHA, VA, Conventional, USDA

Woodbridge, VA

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Fairway Independent Mortgage

Address: Fairway Independent Mortgage, 2241-C Tacketts Mill Drive, Woodbridge, VA, 22192

Office: 703-844-2064

Mobile: 703-929-2274

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NMLS# 190699


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