- Interest Rates for a 30-year fixed rate mortgage have dropped to 4.41% from near 5% in 2018.
- Take advantage of more inventory coming to market in the spring to find your dream home!
- Buying now will allow you to start earning equity today!
Originally Posted At: www.comehomevirginia.com/a-home-is-a-pot-o-gold-dont-let-your-luck-run-out
Happy Saint Patrick's Day!
What are current Mortgage Rates in Northern Virginia?
After reaching a high of nearly 5% in 2018 mortgage rates have retreated to a current average rate of 4.41% for a 30 year fixed rate. This means you have a chance to save some pretty big money on your monthly mortgage by buying a home now rather than waiting for rates to continue to climb again. Rates are forecast to be in a general upward trend for the next year.
Read about the mortgage rate forecast for 2019 HERE
What Credit Score Do I Need To Buy A House?
A lot of people are confused by this as well; they think they need perfect or near perfect credit scores in order to qualify for a mortgage and buy a home of their own. I have had home buyers believe that they need a 700, 800 or even higher FICO credit score in order to buy a home; this is also misinformation. The truth is that that nearly one third of all approved mortgages are given to people with FICO scores below 700. I personally have helped many home buyers locate mortgages that allowed them to purchase homes with credit scores below 600. While it does pay to have a higher credit score, not having one shouldn't make you believe that you can't buy a home of your own. I wrote an article that you can use — with great tips to get your credit score up to buy a house. There's even one tip that can only be used when you are buying a home.
Read Insider Tips To Get Your Credit Score Up Fast To Buy A House
More Important Home Buyer FAQs
- Are there more homes for sale now?
- How much will the lower rates save me in mortgage payments?
- What if interest rates fall after I buy a home?
- Do I need a big down payment to buy a house?
Find the answers to these questions HERE
A Home Is A Pot o' Gold — Don't Let Your Luck Run Out!
Do You Need Sell Your Current Home?
"Don't Let Your Luck Run Out This Saint Patrick's Day"
is brought to you courtesy of Dave Martin Realty Group, your Northern Virginia residential real estate experts. If you're considering selling or buying a house in the Northern Virginia metro area, we'd love an opportunity to earn your business, provide you an outstanding experience, and demonstrate to you that:
"Help From The Best Agent Makes All The Difference."
Subscribe to CommentsComment