Tag Archive | home buying advice

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.

 

 

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Self Employed you can get a mortgage

Three Tips for How to Secure a Mortgage if You’re a Self-employed Entrepreneur

If you are self-employed, either as a freelancer or as the owner of your own business, your income can fluctuate greatly from year to year. That can make it difficult to get approved for a mortgage, although there are some things you can do to improve your chances. Here are three tips for securing a mortgage if you are self-employed.

Have a Large Down Payment

The more money a bank lends you to buy a house, the more risk it is taking on that the money won’t be paid back. If you are self-employed and considered a higher risk to begin with, one way you can alleviate some of that risk is to be able to put down a large amount of money. Putting down 20 percent is standard for a conventional loan, and you should be willing to contribute at least that much. Putting down at least 20 percent also will save you money in the long run, because you won’t have to pay for mortgage insurance and you will pay less in finance charges over the life of the loan.

Make Sure Your Credit Score Is In Good Shape

While your ability to pay back a mortgage is the most important factor in approval, your credit score is a close second, and that goes for every borrower, not just those who are self-employed. If you have a credit score in the high range — something above 750 or 760 — it will help you get approved for a mortgage. To boost your score, make sure you pay all bills on time, pay down your debt levels and don’t make any new big purchases or apply for new credit soon before you apply for a mortgage.

Have Significant Assets

One way to put a lender at ease about your ability to pay for a mortgage is to have significant reserves in the form of assets. If you have large amounts of money in regular savings, brokerage and retirement accounts, it offers a reserve for you to tap should your income take a dive. Other forms of property, such as personal and business property that’s paid off and has value, also help.

For help finding a lender that can help you get a mortgage contact Dee Dee Jones thru GreatDCMetroHomes.org

Affordable New Home Buying in Manassas and Manassas Park VA

Yes Manassas, VA & Manassas Park, VA is know as the home of the Civil War but in 2015 it is the place to buy affordable homes & New Construction.  Several of Northern VA best builders have developments available with some of the best pricing in the whole DC Metro Area.

All types and styles of properties are going up from Condos, Townhomes, Single Family, and Mixed Development.

Prices range from 250,000 to over 1,000,000.  What ever you are looking for you can find it in this area or go a little further south to Bristow and Nokesville.

Come out and search for homes in this part of Prince William County.

To Search homes or to get a list of the homes with the current inventory or special pricing log on to GreatDCMetroHomes.com for more info and you can submit a request email for more info.

POSTED BY

GreatDCMetroHomes.com

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.”

Visit my website today,

DMVRealEstateChick.com 

Deandrea “Dee Dee” Jones

Broker/ Realtor  Serving Washington DC, MD/ Northern VA

Home Buying Marketing II, Inc.

http://DJonesRealEstate.com

djoneshomes@gmail.com

Are you Thinking about Buying or Selling VA, MD, or DC

If you are thinking about buying or selling a home in VA, MD, or DC areas. Watch the following video then start here GreatDCMetroHomes.org

Snow Removal law for Washington DC Home Owners

Be prepared Washington DC Homeowners if you have a public sidewalk be prepared to face a higher fine for not keeping your walk snow free.  We are anticipating more snow fall this year so get plenty of shovels.

The law states “DC law requires property owners to clear snow and ice from sidewalks, handicap ramps and steps on their property within the first eight daylight hours after the snow, sleet or ice stops falling.”

The fines are imposed by the city and more info can be found at. http://dpw.dc.gov/service/dc-snow-removal

Tips for DC homeowners get a neighborhood snow shovel team together to make it go faster.  Buddy up with a neighbor and take turns sharing an area.  Pay teenagers to help they often love a chance to make extra money. or Just suck it up as a chance for extra exercise……

POSTED BY DEANDREA JONES HOME BUYERS MARKETING II, INC
GREATDCMETROHOMES.COM      703-596-5884

Northern VA Home buying class Free

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

Saturday February 8th, 2014 9am-3pm                        home ownership dream

7987 Ashton Avenue Manassas VA                                                      homebuying Manassas

Goverment Center

Sponsored By Manassas Hud Counseling Dept and Home Buyers Marketing II, Inc.

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 2014 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, 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

Posted by

THE NORTHERN VA REAL ESTATE LADY!

Call me to buy a home in any DC Metro area of Northern VA, 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

Associate Broker

Home Buying Marketing II, Inc.

Manassas, VA

http://DJonesRealEstate.com

djoneshomes@gmail.com

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

or text DEANDREA to 87778

Follow Me Online

– See more at: http://activerain.com/blogsview/4313880/free-northern-va-home-buying-education-class-for-first-time-buyers#sthash.Q3Ijd3zh.dpuf

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

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

Sat SEPTEMBER 28th 10-4pm– Pizza LUNCH INCLUDED –

100 Carpenter Drive 2nd Floor Sterling, VA 20164

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 2013 or 2014 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, and many first time buyer program requirements.

A pizza lunch is included!

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

THE NORTHERN VA REAL ESTATE LADY!

Call me to buy a home in any DC Metro area of Northern VA,  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

Associate Broker

Re/Max

Real Estate

Connections

Manassas, VA  Fairfax, VA

http://DJonesRealEstate.com

djoneshomes@gmail.com

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

or text DEANDREA to 87778

                                               Follow Me Online         

Free Home Buying Class with Lunch at Chesapeake Indian River Library

FREE Home buying Classes for first time home buyers in Hampton Roads, VA!!!!!!!!
Sat April 30th 9-3pm– LUNCH INCLUDED

Indian River Library Meeting Room 2320 Old Greenbrier Road Chesapeake, VA 23325

Come learn about the buying process from beginning to end. There will be a loan officer, a real estate agent, a home inspector, and a title agent, on hand to give you valuable information and answer your questions.

If you are serious about buying a home in 2011 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.

A pizza lunch is included!

Call, text, or email TODAY to RSVP, leave name and phone number.

Must RSVP to Dee Dee Jones 757-831-8294 call, text, or email djoneshomes@gmail.com