buying a home: “What Cost You Can Expect to Pay When Buying A House?” - 05/22/20 11:53 AM
Today is May 22, 2020 let’s explore “What Cost You Can Expect to Pay When Buying A House?”
My name is Susan Jacobs and I am a realtor at Samson Properties in Gainesville VA. Today I would like to Explore “What Cost You Can Expect to Pay When Buying a House?” If you have never bought a home before you might think that the only cost you have is the down payment. That’s one part of what you can expect to pay.
Depending on the loan you are applying for and the amount of money you are putting down you could have upfront … (1 comments)

buying a home: Real Estate Market Update May 8, 2020 - 05/08/20 12:29 PM

y name is Susan Jacobs and I am a Realtor with Samson Properties, Gainesville, Virginia. This is my real estate market update May 8, 2020. In a release dated May 7, 2020 from the NAR (National Associate of Realtors) 3 in 4 potential sellers are preparing to sell their homes following the end of the stay at home orders. About half of those potential sellers are now completing do it yourself projects in preparation to listing their home for sale. Based on information from local lenders, plenty of buyers appear ready to take advantage of record low mortgage rates by getting … (3 comments)

buying a home: 5 Questions To Ask Yourself Before Buying A Home - 07/15/13 06:34 AM
5 Questions To Ask Yourself Before Buying A Home

    1-Do I Know How to Budget My Money?
Creating and sticking to a budget is showing financial responsibility.  Know what your limit of spending is and stick to it. With a budget you know where your money is going every month.

    2-How Much Down Payment and Closing Cost Money Do I Need?
The more money you have for a down payment the more equity you will have in the home.  Not every loan program requires you to put money down but you need to at least have money for closing cost expense.  … (1 comments)

buying a home: Positive Change in Funding Fee on VA Loans - 09/30/11 04:49 AM
Positive Change in Funding Fee on VA Loans
As of October 1, 2011 the funding fee on VA loans for Veterans will decrease. The current rate for first time users putting down less that 5% is 2.15% of the loan amount. For loans that close on or after October 1, 2011 the fee for first time users putting down less that 5% will be 1.40%. This .75% savings equals $2,250 savings on a $300,000 loan.
For those who are putting down 5% but less than 10% the funding fee will go from 1.5%-.75%. The funding Fee for Second and Subsequent Use … (4 comments)

buying a home: What is a 203(k) Re-hap loan? - 04/24/11 10:42 PM
What is a 203(k) Re-hap loan??
It is a loan where you the buyer can purchase a home in need of repairs and finance the cost of re-haping it. Example: You finally find just the right home but it needs a new roof and the kitchen and bathrooms are out dated. The problem is you don't have the cash to make these repairs yourself. That's where a FHA 203(k) loan can help. Here is a list of improvements you can make with a FHA 203(k) loan.
Roofs, gutters and downspouts # HVAC systems (heating, venting and air conditioning) Plumbing and electrical … (3 comments)

buying a home: Impact of Rising Rates When Buying A Home - 12/13/10 01:05 AM
Impact of Rising Rates When Buying A Home
While most area's of the county are still seeing home prices  fall, that is not the case in the Northern Virginia area. In Prince William County we have seen prices rise as much as 30% since this time last year. With the shortage of inventory creating a sellers market there is a good chance that prices will continue to rise.
In a recent article from KCM Blog on the Impact of Rising Rates When Buying a Home there is a graph with what a home would cost you with a 4.5% interest rate … (3 comments)