DC, MD, and Virginia Real Estate and Community News

July 23, 2020

Closing a Mortgage Loan: What Not to Do After Closing on a House

not to do on closing a house

There is a misconception that the closing of a mortgage is the easiest part of the process. But mortgage loan experts know that there is still a lot of work involved. Once the loan is approved and the contract is signed, it is important to know what not to do after closing on a house.  You can avoid this mistake when you work with a mortgage broker or a real estate agent.

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July 9, 2020

FHA Loan Requirements in Virginia: How to Qualify

virginia fha loans

 

Buying a home is the ultimate goal for many people. However, this dream is often left unfulfilled because of the huge expense that comes with home buying. This is why various loan products and programs were developed in an effort to provide financial aid for those who wish to buy their own home. Some of these loan programs are backed by the government agencies to make it easier for those who are interested to qualify, even the ones who have less than perfect credit score. FHA loans are an example of this type of loan assistance program. If you are an interested home buyer, make sure you learn about FHA loan requirements in Virginia to help you prepare and secure that home purchase sooner.

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July 9, 2020

Everything You Need to Know About the Maryland Mortgage Program

mortgage income limits

 

Are you planning to invest in a home in Maryland? Congrats on your decision! This is an exciting time as you search through the available listings to find the ideal home for you and your family. There are plenty of benefits to becoming a homeowner such as the potential to build your home equity or creating a sense of community. Whatever your purpose might be for buying a home, it is important to look into the Maryland Mortgage Program income limits to see if you qualify. 

Since this is probably going to be your biggest purchase yet, it can get understandably overwhelming. There are plenty of loan assistance programs out there that you can take advantage of and the Maryland Mortgage Program is just one of them. This program is designed to make the buying process easier, especially for first-time home buyers, so be sure to take advantage.

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July 8, 2020

First Time Home Buyer Benefits - Do You Qualify?

first time home buyers

 

Is this your first time buying a house? It’s an exciting time but you have plenty of things to learn to prepare for the journey ahead. The home buying process can be stressful, especially in terms of the financial aspect. Buying a home is probably the biggest expense that you will shell out in your lifetime so you have to give it thorough consideration. But did you know that there are first time home buyer benefits that you can enjoy through various government schemes and loan programs? 

If you would like to take advantage of these benefits, find out how you can qualify. These perks could help you save a ton of money in the long run.

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Posted in Buying a Home
June 12, 2020

Buying Bank Owned Homes in Virginia - A Guide to Buying Foreclosed Homes in VA

bank owned homes

 

There is a rise in the number of foreclosed homes in VA over the last few years, especially bank owned homes in Virginia. While there are certain benefits and drawbacks to buying foreclosed properties, this gives way to interested home and investment property buyers looking to get properties below the market value. If you are interested, take the time to learn about the process and what you can expect to make the sale as smooth as possible.

Benefits of Buying Foreclosed Homes in VA

With so many options for housing developments and residential buildings in Virginia, why would you want to consider buying foreclosed properties? Below are some of the benefits to ponder on:

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Posted in Buying a Home
June 11, 2020

Home Appraisals in Virginia - Learn the True Value of Your Home

home appraisal virginia

 

A home appraisal in Virginia is an important step when applying for a mortgage loan. This process is conducted by an expert and qualified appraiser who will evaluate numerous factors to determine the fair market value of a home. This step is usually done during the final steps of the home buying process but before the final loan approval. 

 

The appraiser will evaluate the home value based on current market trends, as well as the actual condition of the property upon inspection. They will also evaluate other factors such as the area and type of neighborhood. Their goal is to determine an unbiased price of the property that would be fair to both seller and buyer.

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Posted in Buying a Home
June 1, 2020

How Coronavirus and taking unemployment Impact the Housing Market and Your Mortgage Approval

 

This week Omar Howard discusses a topic that we have a had a lot of questions on. How Coronavirus and taking unemployment benefits now can impact the Housing Market and your future mortgage approval! Once you are employed again what will lenders require for approval? Check it out!

June 1, 2020

Buyer's Market or Seller's Market? The number ONE FACTOR that determines it!

 

This week Yony Kifle discusses the number ONE FACTOR that determines if its a BUYERS or a SELLERS Market. It’s important to know what kind of market you are in as it will affect your negotiation strategies! Check it out!

June 1, 2020

Should you BUY a Home in 2020?

 

This week Alem discusses another frequent question that we have been getting for the last few months, simply put “Should you Buy a Home in 2020". While every area is different, Alem discusses 2 REASONS why it’s made it an IDEAL time to buy in the D.M.V areas! Check it out!

June 1, 2020

Is a Home Warranty Worth Buying?

 

This week Jose Paz breaks down the 3 reasons WHY having a Home Warranty Worth Buying and how they can benefit you! Imagine you own your home and the FURNACE dies and the contractor says a new one will cost $3,000 🤦🏽‍♂️🤦🏽‍♂️ Yea that’s a lot of money but luckily something like a Home Warranty exists!