Doug Francis Real Estate

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Today’s Mortgages

One of the reasons that first time home buyers aren’t diving into the real estate market is the difficulty in obtaining mortgages.

This is a national issue but stems from, in my opinion, a few core issues:

  • Total debt – student loans, credit card and car loans
  • Job market – many college graduates are under-employed
  • Self-Employment – I am self employed and understand the extra hoops

Mortgage lenders in 2014 have new guidelines including strict debt to income ratios. Although most mortgage lenders will tell you not to worry about common .. the Consumer Financial Protection Bureau is eager to enforce the new regulations.

I am not a lender, but everyone who offers mortgages will have a “NMLS #” ~ it should be easy to see on their marketing material.

Where to Start

Reviewing a “Tri Merge Credit Report” is essential. Your credit score or FICO score is very important and if you can pay down something like a Best Buy Card or high balance credit card then great.

Do Not Cancel a card without consulting a professional.

Do Not Open ANY New Accounts.

Let me just say, if you have a 675 score today, start paying everything early and more than the minimum to get over 700.

Veterans Administration or VA Loans

If you have a Certificate of Eligibility or DD 214 then keep reading… all other should skip ahead.

If you are an active service member or a Veteran who wants to take advantage of this unique program then the having COE or DD 214 is step number one.

The Washington D.C. region has a very high upper limit for VA loans in 2014… $843,750

If you receive Disability Pay, please mention this to your lender as this allows for the VA Funding Fee Waiver.

Federal Housing Authority Loans (FHA)

These loans allow for a low 3.5% down payment and you should discuss it as an option if you don’t have a large down payment.

Vienna real estate agent Doug Francis

When we bought our house in Vienna, we were thinking about raising the kids, building an addition, and knowing the neighbors. Today, home buyers are attracted to Vienna because of the sense of community, walkability, and small town lifestyle.

So, what’s next after your 25 years? It’s a conversation many of my clients are having with me as they plan to move to the beach, travel, or get closer to grandkids. Helping them see their future, sell their current home, and move ahead with their updated plan has been an interesting new chapter.

My background: I am an active licensed agent in Virginia, have negotiated hundreds of sales contracts, work at TTR Sotheby’s International Realty in McLean, and still sell homes in all price ranges. I donate to the Town of Vienna tree replacement fund, participate in a neighborhood citizens association, and try my best to stay in shape.

Let’s discuss your moving plans: Email doug@dougfrancis.com or call me at (703) 304-6827 .  Cheers!

Considering selling your home?

https://youtu.be/0ZSodCtsfkY

Just Sold!

Plum Street home with swimming pool

Looking for a house with a pool in Vienna, VA?

Sold!

https://vimeo.com/1003798838?loop=0

Planning to sell your home?

Case Studies

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Homeowners: Add a level of privacy

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Privacy: Hiding your name

Looking for testimonials?

Read through a collection of client comments originally posted on Zillow, Google and Trulia. See what my clients say...

Looking for a Custom Home?

Insights into New Homes in Vienna VA
Staged kitchen for real estate marketing

Here’s my home seller checklist… imagine you’re Getting Ready to Sell

Getting started is the hardest part for many clients. My Vienna home seller checklist will help you get the ball rolling today.

“Doug nailed it! Within days, we had three offers, one of which not only met, but far exceeded all of our goals.”
– R. Pollard

“He truly was a partner integrating us unto the community and made it easy for us to take advantage of all Vienna has to offer.”
– A. D’Eredita

“We are so thankful we found Doug to guide us through the complex home selling and buying processes!”
– Scott and Jennie

About Doug Francis

I am a Realtor with TTR Sotheby's International Realty® just outside Washington D.C. in Northern Virginia. I'm licensed in Virginia with a focus on Vienna, VA real estate since 1991.

That deep knowledge is valuable, especially in today's fast-paced market where advice is critical. Although many of my clients are personally referred, I am available to help you too and am accepting new clients right now.

Feel free to contact me at 703-304-6827 or email me at doug@dougfrancis.com anytime!

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Contact

Doug: (703) 304-6827

TTR Sotheby's International Realty
6723 Whittier Avenue McLean, VA 22101

Office: 703-319-3344
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