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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.

 

 

Free Home Buying Class Northern VA for first time home buyers

FREE Home buying Education Classes for first time home buyers in Northern Virginia!!!!!!!!

Tues & Wed March 15th & 16th, 2016 6-9pm                           First timeHome buying
note: This is a 2 night class and you must
attend both nights to receive a 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 and get info on down-payment assistance programs. 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 pre-approved to buy, how to make an offer, and what to expect in the closing ar129778763674696process. This class meets VHDA, Sparc, Community, and many first time buyer program requirements.
Call, text, or email TODAY to RSVP, leave name and phone number and number of guest.
Must RSVP to Dee Dee Jones 703-596-5884 call, text, or email djoneshomes@gmail.com
Tell a friend, bring a friend, Share this with a friend,

How to Get Rid of Ghost

If you have sold a haunted house here is some info to pass on to the homeowners!!!!! I live down the street from a cemetary so I am always ghost sensitive. Now living in Northern Virginia this land is war land and comes with many rumors of sitiings and apparitions all though I have yet to witness this first hand I want to be prepared. I bought my home new and as an agent I know that In Virginia we DO NOT have to disclose stigmatized properties.

Stigmatized property is a term used in the real estate business which describes possible detrimental features of a property or home, all the result of unfortunate occurrences. These can include murder, suicide, and the belief or proof that a house may be haunted by real ghosts. Just in case I will be ready. Here is a remedy for getting rid of Ghost!!!! Hopefully you and I will never need it!

 

 

Great News for Washington DC First time Home Buyers

Are you sick of commuting to DC? Are you a first time buyer ready to buy a home anywhere in Washington DC?    

               Washington dc metro area

Then this is Great news for you- Washington DC First Time Home Buyers according to DC Association of Realtors the First-time Homebuyer Tax Credit Amendment Act of 2014 has been approved.  This amendment witll reduce the recordation tax rate from 1.45% to 0.725% for first-time buyers in the District.  DC recording tax is currently higher than both VA & MD.  This reduces it significantly. You can use this credit anywhere in the city from Capital Hill, SE to NW, Foggy Bottom to Lincoln Heights to Colonial Heights to Glover Park, NE to SW. Now combined with low interest rate, local buying programs, down payment assistance programs- this is another reason to become a homeowner now!

 

dc homes first time buyers

To qualify, buyers must have never purchased a home in the District, and the property must be a primary owner-occupied residence.    Lets Get started you have no more excuses!

To get started with HomeOwnership in the DC Metro areas contact me thru GreatDCMetroHomes.com
POSTED BY

THE NORTHERN VA REAL ESTATE LADY!

Call me to buy a home in any Washington DC Metro area including Northern VA & Maryland,  areas including Fairfax, Prince William, Loudoun, Fauquier, Stafford Counties, Anne Arundel, Prine George’s, Charles, and Montgomery Counties.                                     

“I can dream alone, build alone and strive alone, but true        

success always requires the help and support of others.

Please send me your referrals.”remax agents northern va

 

Visit my website today,

 

Deandrea “Dee Dee” Jones

Broker/ Realtor  Washington DC/VA&MD

Home Buying Marketing II, Inc.

http://DJonesRealEstate.com

djoneshomes@gmail.com

download my mobile app http://87778.mobi/DEANDREA

or text DEANDREA to 87778

 

                                     Follow Me Online         

    hsr Home Scouting app Home Search

Northern VA MD DC Real Estate Investors Guide

If you are contemplating Real Estate Investing or wholesaling in the Northern VA, Washington DC or Maryland areas here is an investment guide on how to work with an investor friendly agent.  Click to view then contact me about getting started!

POSTED BY

DMVRealEstatechick.com   DJonesRealEstate.com  GreatDCMetroHomes.info

Military Families have just been punched in the face!

Military families have been punched in the face by our House of Representatives.  The House has passed a bill to be sent to the Senate that would approve a 5% reduction in BAH (Basic Allowance for Housing).  

According to a recent Pew Research Report, serving in the military was “practically a requirement for serving in Congress.” As recently as the early post-Vietnam era of the late 1970s, a combined 77-percent of the members in the House and Senate had prior military service. Today, however, only approximately 20-percent of our political representatives have military experience.  This means are politicians are out of touch with the needs of military families and veterans.

Other projected cuts include cuts to military commissaries (have they seen grocery store prices)….. Cuts to tuition assistance for active duty. Veterans in Congress

 According to Military by owner: They are out of touch because they are without having experienced moving cross-country every two to three years and the resulting financial hardships that come with said moves, most notably spousal employment, military families can easily discredit our representatives as being out of touch. 

If this is passed through the Senate Military families will be KO’d once again………………  

POSTED BY

THE NORTHERN VA REAL ESTATE LADY!

Call me to buy a home in any DC Metro area of Northern VA & Maryland,  areas including Fairfax, Prince William, Loudoun, Fauquier, and Stafford Counties.                                     

“I can dream alone, build alone and strive alone, but true        

success always requires the help and support of others.

Please send me your referrals.”remax agents northern va

 

Visit my website today,

The Northern VA Real Estate Lady!         

Deandrea “Dee Dee” Jones                                                          

Supervising Broker/ Realtor

Home Buying Marketing II, Inc.

VA & MD

http://DJonesRealEstate.com

 djoneshomes@gmail.com

 download my mobile app http://87778.mobi/DEANDREA

or text DEANDREA to 87778

 

                                      Follow Me Online         

     hsr Home Scouting app Home Search

Home Buyers stop standing on the side lines playing double dutch

Buyers stop standing on the side lines playing double dutch.  If you do not know when to jump in,

Double Dutch

Double Dutch

The Time to buy a home is now.  You keep thinking next month, next week, or next year you can get the best home or best rate, and best deal.  You don’t realize the best time is now before you throw away more money renting. 

Reasons to Jump in the market now:

1. Rates are great.  I know every year you see ads that say rates are the lowest they have been in years.  Well it is true. Rates are the lowest they have been in years.

2. Great deals are out there.  There are many owners that will pay your closing cost, pay discount points, or even give you furniture.  The deals are out there and you need a good agent to help you find them.

3. Loans, even with all the problems banks, brokers, and mortgage companies have had many are putting together great loan packages for buyers.  But you have to jump in by calling a loan officer to get preapproved not just prequalified. Which will give you even greater purchasing power.  And remember they are also competing for business so you may be able to negotiate fees and rates depending on the company you choose.

4.  Inventory, You have choices in this market.  You do not have to settle for anything.  Resale homes by desperate sellers, relocating sellers are the best deals.  Foreclosures, REO properties, and repos are out there but may take special financing.  Short Sales can be great deals if you have the time to wait out the process. A good agent can show you your choices and help you make a good decision.  Your loan type may dictate what properties you can view.

For information on Buying a home in Washington DC, Northern VA, or Maryland contact the DMVRealEstateChick.com or if you need help finding a great competent agent in another city or state contact me.

Dee Dee Jones

HomeBuyers Marketing II, Inc

http://DJonesSellsHomes.com – Search Homes