- in Alexandria, Arlington, Ashburn, Bristow, Burke, buying real estate, Centreville, Chantilly, Clifton, Dale City, DC Metro Area, District of Columbia, DMV, Dumfries, Fairfax, FHA loans, Front Royal, Gainesville, Georgetown, home buying, Lake Ridge, Lorton, Manassas, Manassas park, Northern VA, NOVA, Occoquan, Prince William County, Quantico, real estate, real estate agents, Sterling, The Pentagon, Triangle, VA, va loans, VHDA loans, Vienna, Virginia, Warrenton, Washington DC, Woodbridge
FREE Home buying Education Classes for first time home buyers in Northern Virginia!!!!!!!!
Tues & Wed May 17th&18th 6-9pm
note: This is a 2 night class and you must attend both nights to receive a home ownership education/ VHDA certificate of completion required for some loans.
Location: 10629 Crestwood Dr Manassas VA 20109
Sponsored By Home Buyers Marketing II, Inc, McLean Mortgage & Secure Home Inspections
Come learn about the buying process from beginning to end. There will be a loan officer, a real estate agent, and a home inspector, on hand to give you valuable information and answer your questions on credit, loans, finance, and real estate contracts
If you are serious about buying a home in 2016 then this class is designed for you. Find out how to get preapproved to buy, how to make an offer, and what to expect in the closing process. This class meets VHDA, Sparc, Community, and many first time buyer program requirements.
Email Today to RSVP, leave name and phone number and number of guest. email
- in Alexandria, Arlington, Ashburn, Bristow, Burke, buying real estate, Capital Hill, Centreville, Chantilly, Clifton, DC Home Buying, DC Metro Area, District of Columbia, DMV, Dumfries, Fairfax, FHA loans, Front Royal, Gainesville, Georgetown, home buying, listing real estate, Manassas, md home buying, Military, newport news, Northern VA, NOVA, Occoquan, real estate, real estate agents, real estate investing, real estate investors, selling real estate, Shaw, Sterling, The Pentagon, Triangle, VA, va loans, VHDA loans, Vienna, Virginia, Warrenton, Washington DC, Woodbridge
Rules and Guidelines for Home Buying are always constantly changing. Here are a few changes you need to know in 2016, DC, MD, and Northern VA Home buyers, buying with FHA, VA or Conv Loans
FHA Loan Update
Has released new rules on how they will count deferred qualifying student loan payments, at the end of 2015 they tightened standards after a lot of complaints they have reduced levels. If you are a client that was previously denied a FHA mortgage due to deferred student loan debt, it may be time for you to reconnect with a lender to get re-pre qualified,
If you have a pq letter you may want to have your lender redo it – it may and can change your qualifying amount, this is for mostly deferred loans, reduces outstanding loan balance requirement from 2% to 1%, but can make a difference.
VA Loan Update
There are new rules on how Veterans, Active Duty, and Govt Employees can have 2 (TWO) VA loans at one time, Call me for details this mostly only works well for relocating from a smaller house to a larger home for primary residence and preferably more than 50 miles away. A lender would need to pull your current COE- Certificate of Eligibility and Debt to income ratio – to see what you would qualify to buy.
Conventional Loans Update
George Mason Mortgage and McLean Mortgage are two of the lenders now offering 3% Conventional loans guidelines (there are a few others)
First time buyers only or for those who have not purchased in 3 years,
Preferably no previous bankruptcy or foreclosure at all
No max income requirement like VHDA and Down Payment assistance loans for DC and MD
Minimum credit score 620
Must be primary home not for investment
No mortgage insurance, payment should be cheaper than fha
3% down, must be own funds can not be credited or gift.
The season will be busy this year so having a pre-qualification and the a pre-approval will be vital for a successful home buying process in DC, MD, and VA.
For more info on these programs and to start your pre-qualification process contact DeAndrea DeeDee Jones at firstname.lastname@example.org or thru GreatDCMetroHomes.com.
Home Buyers Marketing II, Inc a DC, MD, VA Real Estate Brokerage Company.