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Home Buying help for Military and Veterans DMV DC MD VA

If you are Active Duty Military, a Veteran, or a Government Employee in the DMV DC, MD, VA area, Let me help you buy or sell your next home.  Contact Me Today! Start Here GreatDCMetroHomes.com 

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DMV Home Buyers 6 Fundamental Home Buying Tips DC MD VA

Home Buyers should be familiar with these 6 fundamental Home Buying tips.   Contact me Today to discuss more tips and info .. Start Here  GreatDCMetroHomes.com

Military Pay Increase 2017 BAH and basic pay VA loan buyers

If you want to know what changes have been approved for Military Families for 2017. Pay attention to the base pay and basic allowance for housing changes.  

On December 8, 2016, the full Senate passed the final conference report for the 2017 National Defense Authorization Act by a vote of 92 to 7. The bill will now move to President Obama for final signature. If approved by the President, the 2.1 percent pay raise for 2017 will become effective January 1, 2017.

Military pay will see a 2.1 percent increase for 2017, compared to 2016 levels. The military pay tables below apply to active members of the Navy, Marines, Army, Air Force, and Coast Guard.

The calculator above (and related tables below) reflect 2017 monthly pay based on the 2.1 percent pay raise, which is effective as of January 1, 2017. This pay increase will be reflected in the January 15 paycheck.

The 2017 Basic Allowance for Housing (BAH) rate has increased on average by 2.4% or approximately $41 per month, according to a Defense Department news release. The new BAH rates will take effect on January 1, 2017 and service members will see their first increase on their January 15th pay.

 

The overall rates are based on area- areas such as Washington DC and Northern VA will have a higher allowance than areas in Hampton Roads and Virginia Beach. To find your area go to http://www.militaryrates.com/military-pay-charts,  But the litlle increase can still help those thinking of using their VA home loan benefit.

 

also BAH Update 12/11/16: Congress has agreed to not reduce the Basic Allowance for Housing benefits for new entrants beginning in 2018. The language originally called for only covering what service members actually pay in rent.  

Read more: http://militarybenefits.info/2017-bah-basic-allowance-for-housing-rates/#ixzz4TV4BeZCG

 

by DMVRealEstateChick.com

Buy a new home before SuperBowl Sunday DMV DC MD VA home buyers

Do you love to entertain?cowb

Your own new house with a home theater system, big screen, and surround sound would be great on Super Bowl Sunday.

Make it happen for next year call me to buy your dream home in DC, MD or Northern VA!

Lets get started now schedule an appointment to discuss it start here click. 

then search here GreatDCMetroHomes.com

DMV Home Buying Loan Updates you need to know in 2016

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                            20160415_084515

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

va

VA loan

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 housemoney

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.qualify

For more info on these programs and to start your pre-qualification process contact DeAndrea DeeDee Jones at djoneshomes@gmail.com or thru GreatDCMetroHomes.com.

Home Buyers Marketing II, Inc a DC, MD, VA Real Estate Brokerage Company.

 

 

MD DCHD New Program helps residents buy a home with student loan debt

Great new program for MD residents with student loan debt

MD DHCD: Maryland for the better...

MMBA-5.7

Annapolis, MD – Governor Larry Hogan and Secretary Kenneth Holt this week announced a $20 million initiative aimed at members of the Millennial Generation that will give a boost to otherwise qualified buyers who have been unable to move into homeownership because of significant student debt.

Through the “You’ve Earned It!” initiative, the Maryland Mortgage Program is offering a 2.75 percent fixed rate, 30-year mortgage and $10,000 in down payment assistance to qualified homebuyers with more than $25,000 in student loan debt. The program is open for a limited time to families purchasing a home in one of Maryland’s 82 Sustainable Communities. Maryland’s Sustainable Communities program seeks to strengthen reinvestment and revitalization in the state’s older communities through state, local and private sector partnerships. There is at least one designated Sustainable Community in each of Maryland’s 23 counties and Baltimore City.

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