Mortgages for DC Metro First Time Homebuyers

Mortgages for DC Metro First Time Homebuyers First time home buyer? Looking to purchase a home but have questions? Free Consultation and Preapproval!! Plus resources to educate all homebuyers!!
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5 Reasons Why Now is the Perfect Time to Buy!1. Interest Rates Are Projected to Rise - interest rates are still at histo...
02/10/2014

5 Reasons Why Now is the Perfect Time to Buy!

1. Interest Rates Are Projected to Rise - interest rates are still at historical lows but as the economy and housing improve interest rates will rise.
2. Price Increases are on the Horizon - with current low inventory levels, it diminishes the negotiating power that the buyer has over the seller. Plus homes are selling quickly, especially homes in desirable price ranges. These factors will lead to increases in housing prices. In 2013, the DC Metro area saw the median home price increase 9.2%.
3. Less Expensive than Renting - according to a Trulia Trends study, buying a home is 44% less expensive than renting in the 100 largest metro areas in the United States.
4. Owning a Home Creates Financial Stability and Wealth - owning a home provides tax advantages, pride in home ownership plus an investment in the future.
5. Buy Low, Sell High - The market is showing signs of price increases, now is the time to get in before prices increase and interest rates rise and you will have made a wise investment for your future.

How Much House Can I Afford?It's the simple question every homebuyer wants to know....unfortunately there is not a simpl...
02/07/2014

How Much House Can I Afford?
It's the simple question every homebuyer wants to know....unfortunately there is not a simple answer! There are so many variables that the only way to get the correct answer, is to contact a Loan Officer.
Be prepared with the following documents:
• Federal Tax Returns for the past two years
• W-2's for all Employments for the past two years
• One month's paystubs for all Employments
• One month's for all checking, savings, investment and retirement accounts
Also be prepared to have your credit report pulled.
With this information, your Loan Officer can determine how much you will qualify for.
But if you really need a simple "rough" estimate, see the chart below!!!
Or better yet, contact me for a "free" evaluation and get Pre-Approved for the purchase of a new home!

For the DC Metro area, the median home price increased 9.6% from 2012 to 2013. Interest rates have risen over 1% during ...
02/02/2014

For the DC Metro area, the median home price increased 9.6% from 2012 to 2013. Interest rates have risen over 1% during that same period. The cost of waiting to purchase a home beyond 2014 could cost the average borrower over $200 more per month!!
There has never been a better time to purchase a home...

Community Partners Grant Program provides up to $7,500 in down payment assistance for the following professions: law enf...
02/01/2014

Community Partners Grant Program provides up to $7,500 in down payment assistance for the following professions: law enforcement, health care, fireman and teachers. This program provides "thanks" to those who help make our communities better and safer.

01/29/2014
Tatiana Busch Realtor

Great visual highlighting that all housing trends improved for 2013.....If you are in the market to buy or sell, there may not be a better time!

National Housing Report January 2014!

The key to selecting the right type of financing for a first time home buyer is select a lender who has a variety of opt...
01/28/2014

The key to selecting the right type of financing for a first time home buyer is select a lender who has a variety of options. First time home buyer programs have more flexible guidelines regarding down payment and credit requirements.
Don't let down payment be your obstacle in buying a home!
See the flyer for just a few of our first time home buyer programs.

The biggest obstacle for most first time home buyers is accumulating the money for the down payment. The good news, is t...
01/24/2014

The biggest obstacle for most first time home buyers is accumulating the money for the down payment. The good news, is that there are many options available that provide assistance.
Below are a couple of options that we offer:
1. Grant Assistance - for borrowers with household income less that 80% of the HUD median income, we have a grant assistance up to $5,000. The grant is a matching program that for every dollar the borrower invests, the grant matches 4:1 up to a maximum benefit of $5,000. The borrower contribution would be $1,250 to receive the full $5,000.
2. Community Partners Grant Program is specifically designed for professions that assist the community. If you are an educator, law enforcement, health care or firefighter we have a grant program up to $7,500.
3. For Maryland purchasers, there is a special program called CDA that provides up to $5,000 in grant assistance.
4. For Virginia purchasers, the down payment can be eliminated entirely with VHDA financing, which is 100% financing with a 1st and 2nd Trust loan up to 100% of the purchase price.
All of these programs have income limitations, so please contact me for further details.
Don't let the down payment be your barrier to becoming a homeowner!!

5 Tips for Saving for a Down Payment on a Home1. Set Your Goal - meet with a lender to determine how much you qualify fo...
01/23/2014

5 Tips for Saving for a Down Payment on a Home
1. Set Your Goal - meet with a lender to determine how much you qualify for and then decide your price range.
2. Establish a Budget - review expenses and make cuts. Then include in your budget your monthly savings goal. Set up a direct debit directly into a separate account, just for home savings goal.
3. Cut Back on Expenses - be aggressive but realistic. Cut out luxuries like Starbucks, eating out less, bring lunch to work and reduce your cable bill. These simple adjustments can equal $300-$400 per month.
4. Borrow from 401k - most plans allow participants to borrow from their accounts. Don't take a hardship withdrawal.
5. Determine if you Qualify for Assistance - contact your lender to see if you qualify programs that can assist with down payment and closing. My company has no money down loans as well as grant programs.
With a plan in place, you will become a homeowner sooner than you think!

The key to a successful and stress free home buying experience, is to have a step-by-step plan. Meet with a Loan Officer...
01/23/2014

The key to a successful and stress free home buying experience, is to have a step-by-step plan. Meet with a Loan Officer to review income documents and credit. Also evaluate program options so that you are clear on what needs to be in place before the home search begins. With the foundation of financing in place, finding the right home is the easy part!
I regularly meet with first time home buyers to put together their personal roadmap to purchase a home. If you are interested, please contact me for a free consultation.

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01/22/2014

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The median home prices for the DC Metro area have increased to $391,362. The median price chart shows the market is cont...
01/22/2014

The median home prices for the DC Metro area have increased to $391,362. The median price chart shows the market is continuing the upward trend.

Damage Points: How mistakes affect FICO scores. Borrowers are readily surprised by the fluidity of their FICO score and ...
01/21/2014

Damage Points: How mistakes affect FICO scores.
Borrowers are readily surprised by the fluidity of their FICO score and the significant impact that even 1 x 30 late can have on your score. The other area that borrowers are unaware of, is that the higher the FICO score, the greater the impact of a credit mishap. The chart below is a good guide for demonstrating damage points, even for a relatively small credit mistake.

Knowing how the FICO credit scoring model works, will help you understand how you can be in control of your score!! A mi...
01/21/2014

Knowing how the FICO credit scoring model works, will help you understand how you can be in control of your score!! A misunderstood but important component, credit utility, is easy for consumers to monitor and control. Divide your current balance into the high credit (example: current credit card balance $750 and high credit limit $1,000 = 75% credit utility).
Fast Fact: keep your credit utility below 30% and watch your FICO score go up!!

No better way for a first time home buyer to purchase a property in Virginia. With the VHDA FHA Plus program, first time...
01/21/2014

No better way for a first time home buyer to purchase a property in Virginia. With the VHDA FHA Plus program, first time buyers can buy a home with no money down!!

New Community Partners grant program provides a grant up to $7,500 for down payment and closing costs.
01/21/2014

New Community Partners grant program provides a grant up to $7,500 for down payment and closing costs.

Mortgages for DC Metro First Time Homebuyers's cover photo
01/12/2014

Mortgages for DC Metro First Time Homebuyers's cover photo

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12001 Sunrise Valley Dr, Ste 201
Reston, VA
20191

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