NO FHA makes Veteran Loans Great Choice in Prince William County!

By
Mortgage and Lending with Fairway Independent Mortgage NMLS #196099

It has been the fight of their life for first time homebuyers in the Prince William County area. As the 8,000 tax credit has been extended, homes under $200,000 have been snapped by investors so quick, that first time buyers don’t stand a chance. In reference to a blog post by my colleague Erick Blackwelder, "It is a ferocious fight for a new home in PWC." His client saw a home that was on the market for nine hours on a Friday, he decided to write a contract on that Saturday morning after viewing the property. Well guess what, the house already had three contracts at least $50,000 over the list price and one was an all cash offer for $275,000. Well needless to say which contract won, to add insult to injury the homes in PWC that are affordable for first time buyers have in the listing comments, No FHA contracts accepted.

Prince William Home, single family house

This is unfortunate as a most first time buyers utilize FHA financing number of and why not low to no down payment offers, low rates, low mortgage insurance, and basic credit qualifications than conventional loans. What is the solution or way to win this fight?

NO FHA Contracts Accepted!

If you are a veteran, then by all means use your VA Home Loan or if you are able to purchase using a conventional loan with twenty percent this will not make you a winner of all the fights but at least you can compete for the homes that have no FHA clauses, which are starting to be a great deal of homes in the under $250,000 price range. If the above solutions don’t help your situation, consider purchasing a home near Stafford or Spotsylvania. For a veteran, with an eligible VA home loan, the homes with NO FHA clause are prime real estate as most of their homes have been renovated completely. So veterans and active duty military can purchase a home that is like new, with no down payment, less competition, and rewarding a $8,000 tax credit. Be ready for the fight but with the right team in your corner you can win or at least not get knocked out.

Markita Aldridge-Woods

Your Woodbridge FHA/VA Lender!

(703) 497-3936 direct

www.mymilitarymortgage.com    www.queenofmortgages.com

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Mortgage / Finance
Location:
Virginia

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
529,773
Peggy James
EXIT Realty Associates - Woodbridge, VA
Woodbridge Virginia Area Real Estate Specialist

Hi Markita,

Thank you for shining a light on this little known fact. I think a lot of Veterans on PSC orders to the local military bases will be pleasantly surprised to learn they have a fighting chance to score an awesome ready to move in home right now in Prince William County Virignia. I work as a Buyer Agent here in the county and I just love seeing what these investors are doing for the older homes. The remodels are amazing. They are changing neighborhoods!

 

Dec 08, 2009 02:50 AM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
144,804

Markita Woods NMLS#196099

Queen of Mortgages - FHA, VA, Conventional, USDA
Ask me a question
*
*
*
*
Spam prevention

Additional Information