fha loans: It will be easier to buy a home in 2016, for those who are low on cash - 01/04/16 08:36 PM
Good Morning, there are some changes home buyers will want to know about if you are thinking of buying.
It will be easier to buy a home in 2016,for those who are low on cash! 
Mortgage Industry News-Effective January 1st, 2016.
VA Zero Down Loans are available up to $625,500 in Prince William County, Stafford, Spotsylvania, Fredericksburg, Fairfax County, Alexandria, Arlington ( all of  Northern Virginia)
Note: if you are relocating from area's such as Norfolk, Newport News, Colorado, even San Diego California the loan limits in our area are higher allowing you the Military Veteran the option of purchasing a home with you VA … (0 comments)

fha loans: The huge dilemma many move-up buyers are facing right now - 07/31/13 11:10 PM
Lately I have met many, many homeowners who have very nice homes they have outgrown or want to sell. The dilemma many are facing is this. The home they own us financed with an FHA Loan.
Most do not have a lot of equity, however the values have risen enough that they can now sell.
The other dilemma is they do not have saving enough to come up with the standard ten percent down payment needed when buying with a conventional loan.
So that means in order to accomplish their move-up goal, they must sell their current home first. Now that's … (22 comments)

fha loans: Fall Typically Brings Falling Leaves. But That's Not The Only Thing That's Falling.... - 10/01/11 01:12 AM
Local loan officer Markita Aldridge Woods of WestStar Mortgage here in Lake Ridge Virginia breaks down all the changes in the mortgage arena as we head into fall. FHA Loan limits ( the amount you can borrow with low down payment) has fallen from $729,750 to $625,000!
This is going to impact our Luxury Home Market here in Prince William County Virginia. If you are facing a job transfer or you have an upcoming move on the horizon. Give me a call 703-851-3085. Let's talk about your options.
Government loan changes effective October 1st, will bring some tricks and some treats … (2 comments)

fha loans: This Is A Reminder For Any Home Buyers Who Are Pre-Approved With FHA Financing - 03/22/11 02:19 AM
In the past few months, I have met with many homebuyers who are thinking about buying a home this year. Many of you have been pre-approved for a home loan over the past six months.
For whatever reason you haven't found the perfect home yet, or the timing is wrong or you just needed to save more money. Well time is running out and soon buying a home with FHA Financing will become more expensive!
What does that mean to you?Listen as Erick Blackwelder explains. 


You still have plenty of time. Watch this quick tutorial  how to set up … (0 comments)

fha loans: Experienced Buyer Agents Can Help You Save Money When You Buy a Home.. - 03/11/11 12:19 PM
When it is time for you to buy a home, make sure you are aligning yourself with a top local  Realtor who is plugged in and knows what's happening not only in real estate but with all the changes with getting a loan.
For example Erick Blackwelder my real estate partner explains in a video below all the new changes that will impact all home buyers who are going to be using an FHA Loan to purchase a home here in the Prince William County Virginia area.On April 18th, 2011 is when all the new changes take effect.
Listen...to how these … (0 comments)

fha loans: This Weeks Caller Asked-"Do I Have to Pay the Closing Costs?" - 01/30/11 11:45 PM
So many home buyers ask this question. I saw this blog post attached below by a local lender Markita Aldridge Woods of Westar Mortgage here in Lake Ridge Virginia.  She said home buyers are asking if they need to pay closing costs.The great news is, right now here in the Prince William County Virginia area sellers are still paying closing costs. 24 out of 203 closed sales in the Woodbridge, Lake Ridge Virginia area since December 1st, 2010, selles paid on average $6000 or more closing cost on behalf of home buyers!
Let me share a real situation and why home buyers really need … (2 comments)

fha loans: Looking For and Buying A Home Should Be a Fun Experience. So don't... - 12/28/10 04:22 AM
Get started off on the wrong foot. The biggest mistake you can make when deciding it is time to buy, is looking at homes without a pre-approval letter. That is very similar to go shopping at the grocery store, unloading the cart onto the conveyor belt only to realize, you do not have any money to pay! Yikes..what a waist of time...
Here are a lenders we trust to help you get pre-approved. Read More
Do you have questions? Call me direct at  703-851-3085 or contact me by email  
Contact Peggy James or Erick Blackwelder  of Erick and Company of … (3 comments)

fha loans: When It Is Time To Sell Your Condo, Give Yourself Plenty Of Time.. - 06/08/10 03:40 AM
Today's post is to alert anyone who owns a condominium and who is thinking of selling. Please contact a Realtor as soon as possible. The new rules imposed by the FHA, is drastically changing the way condominiums are sold. No more than 10% of the units in a complex can be owned by investors, no more than 15% of unit owners can be delinquent on condo dues just to name two that have a huge impact on how condos are now sold!
Well, if a condo complex has either one of the two situations noted above, then the only way a condo unit can be … (0 comments)

fha loans: Woodbridge Virginia Couple Closed On Their Dream Home In Stafford Virginia - 04/04/10 11:55 PM
A few months ago, a couple contacted me to help them find a home on acreage. The two primary requirements were, the lot had to offer privacy and the home needed to be somewhat newer in age. They wanted granite, and hardwood floors, a luxury bath and all the things most would expect with a newer home.
Starting with a budget of $550,000 they thought for sure they could find their dream home here in Prince William County Virginia.However, when a person is looking for a home on acreage many other factors come in to play. So many of the acreage lots … (9 comments)

fha loans: Lake Ridge VA Real Estate News: Today's Inquiry " Can You Tell Me If My House Has Gained In Value Since I Purchased It In 2008?" - 01/25/10 10:04 PM
This morning email inquiry is from a past client who purchased a townhome in Lake Ridge Virginia in 2008. She had two very important questions.
Has the value of her townhome gone up any? Since interest rates are lower now, is it possible for her to refinance to a lower rate?
The answer is Yes and Yes!
I love when a good plan comes together!  You see I assisted this young lady buy her first home back in  July of 2008. The home was purchased for $159,900 and it had an unfinished basement at the time. Currently there are several under contract and that … (0 comments)

fha loans: FHA 203K Streamline Renovation/Purchase - 11/20/09 12:39 AM
I found this interesting post written by Ken Cook a loan officer in Georgia. It addresses what to do when you find a home you would like to buy here in the Prince William County VA area that needs repair to bring it up to the house you would have been dreaming of. Read more about this awesome loan called he FHA 203K.
Some additional advantages of the program:
Finance up to 6 months mortgage payments (PITI)  Eligible for Energy Efficient Mortgage An FHA assumable mortgage  Standard FHA Down payment Programs Apply Can be used for Purchase or Refinance All rehabilitation work is … (0 comments)

fha loans: Lake Ridge VA Real Estate News: If You Need To Be Pre-Approved For A Home Loan Talk With Tom Halfpap! - 11/06/09 05:31 AM
 A Local Lender You Can Trust in Woodbridge, Virginia
As a Realtor people ask me all the time. "where should I get my mortgage?" There are many places to consider getting a home loan. However, my knee jerk reaction is always consult a Mortgage Loan Officer with experience.
A good solid recommendation in the Woodbridge Virginia  area is  Tom Halfpap of  SunTrust Mortgage. His office is centerally located at the Potomac Mills Shopping Area. You truly cannot go wrong with Tom, he has been doing business in the area for a very long time. He has never let me or my clients down. 

You can get Approved … (0 comments)

fha loans: Property flipping guidelines extended by FHA until May 2010! What does this mean? - 10/09/09 11:22 PM
I wanted to pass the following information on to all Prince William County Virginia residents. If you are in the market for a new home and you keep running into homes that say NO FHA Loans, the following post explains why.

Property Flipping guidelines extended by FHA , until May 2010!  What does this mean and who does this affect?
What is property flipping?  
No .......it's not flipping your home with another couple as seen in trading spaces on  TLC!
Property flipping is a practice whereby a recently acquired property is resold, often for a considerable profit.
Most property flipping occurs … (2 comments)

fha loans: "Peggy, What Does NO FHA LOANS due to FHA Seasoning Mean In The Comments?" - 09/29/09 05:40 AM
More and more these days in the Prince William County Virginia area, many homes that are truly gorgeous and renovated are not available to the first time buyer who is preapproved for an FHA Loan.

Everyday, I work with buyers who call all excited when they see a home in their price range that is perfect for them based on the photo's that they are seeing.

Then I have to drop the bombshell when they ask."Peggy, What Does NO FHA LOANS due to FHA Seasoning Mean In The Comments?"
Well, that seller cannot accept an FHA Loan. The … (3 comments)

fha loans: House Hunting Without Being Preapproved For A Home Loan Is Like Going To The Grocery Store Without Your Wallet! - 08/10/09 12:31 AM
Local Loan Officer Suggests To Buyers Just Go Look....
I met a young couple this week, who had contacted a local loan officer they had been referred to, to  get preapproved for a home loan.The Loan Officer tells the caller, I would love to be your loan officer. Once you find the house call me and I will give you a lender letter and good faith estimate. Humm..
So the couple comes to meet me for a day of househunting. When I ask for a copy of the lender lette the wife says " the loan officer said we are pre-approved up to $500,000. … (0 comments)

fha loans: Handyman Fixer Upper- Lake Ridge Virginia! Quick Closing Possible.. - 08/07/09 09:38 AM
Our newest listing is a bit of a challenge in that it goes against everything I normally look for when I working as a buyer agent for someone. 90% of buyers are looking for a move-in ready home.
Well this is not that! That is why it is Only $99,950!

This Vinings condo in is stuck in a timewarp .Think 1989!That's right almost everything in it is original down to the bubble light strips over the bathroom sinks. Even the original wallpaper installed by the builder is in the kitchen and the baths! Ok someone gotta say it ICK! The homeowner has … (1 comments)

fha loans: 10 New Things FHA Appriasers Must Do To Formulate The Value Of Your Home! - 03/28/09 12:44 AM
Last evening in my email box,I received this message from a local lender named Dave Ehrlich of Churchhill Mortgage. I've known Dave for years, he's a good guy. He pays attention to the details and follow the rules and I really appreciate that he sent the following email. This flow of information between loan officers helps us stay on top of changes in this challenging market for you. I thought you might like to read this. Especially if you are trying to refinance or possibly anticipate selling your home. This information that  will help you understand appraisers have some very tough guidelines to adhere … (1 comments)

Peggy  James, Woodbridge Virginia Area Real Estate Specialist (EXIT Realty Associates) Rainmaker large

Peggy James

Woodbridge Virginia Area Real Estate Specialist

Woodbridge, VA

More about me…

EXIT Realty Associates

Address: Twins Selling Real Estate- EXIT Realty Associates, 8998C Lorton Station Blvd, Lorton , VA, 22079

Mobile: (703) 851-3085

Email Me

Peggy James has been awarded as a Top Local Real Estate Blogger by Active Rain for the Lake Ridge Virginia and surrounding area.Peggy services the area's Lorton, Woodbridge, Lake Ridge, Dumfries and Manassas down to Fredericksburg Virginia.




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