Doug Francis | Realtor

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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.

Helping my clients add value to their home has always been important to me. My step-by-step recommendations are intended to increase market appeal, return more then invested, and help net more when selling.

Beyond just sellers, I have helped many new homeowners make smart design decisions when remodeling. We gutted our house and totally remodeled it, and I pass that experience along because living in a nice house is simply better.

My background… I’ve been an active licensed agent in Virginia for 25 years, work at TTR Sotheby’s International Realty in McLean, and 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.

Questions? Email doug@dougfrancis.com or call me at (703) 304-6827 to discuss your plans. Cheers!

Filmed in Vienna and McLean

https://youtu.be/ClqEIV1zoQg
Viva Vienna Vienna Idol event on the Town Green sponsored by Caffe Amouri

The Vienna Town Green

The Town Green in Vienna, Virginia is located where Maple Avenue intersects the W&OD Bike Trail and Mill Street. The Town

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Time to Down size to a retirement home

Transitioning Into Retirement | Your Real Estate Plan

Maybe it was the gray hair, the years of experience, or just being in my late 50’s that helped introduce me to clients who are transitioning into retirement and are downsizing. The baby-boomer retirement plan was accelerated by “Covid-19” as long time owners found the old house was just too big. The retirement dream became […]

“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 have been a full-time Realtor licensed in Virginia since 1991, and cover a big territory specializing in the Vienna real estate market and custom homes for sale.

I have unique knowledge of digital real estate marketing, and my marketing starts here. My clients have been attracted to my results-oriented strategy for years, and I am accepting new clients for Fall 2022 right now.

Thanks for reading, and 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
Why do people hire me?

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Vienna Real Estate Guide

Doug Francis Vienna Real Estate 2021
This material can only be used with written permission.

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