Doug Francis | Realtor

  • About Doug
  • Services
  • Sell Your Home
  • Case Studies
  • Contact

McLean, VA | My Buyer Agent Snapshot of Mortgage Rates

December 22, 2009 By Doug Francis

What subprime crisis?  Affordable houses are e...

Image by woodleywonderworks via Flickr

As 2009 draws to a close, I have seen mortgage rates stay historically low and some McLean mortgage insiders forecast that they will stay low for the near term. The terrible economy has a lot to do with it… job insecurity, weak demand, and an unwillingness to enter into a 30 year relationship when rumors are easy to believe.

The truth is that if you have the job stability and some cash, then this is an amazing opportunity to buy a home.That is if you can find one that is worth buying since the supply of homes for sale is low… in Northern Virginia that is.

Today’s Home Buyers need a 5 to 10 year time horizon

So what are the rates that I see in Northern Virginia? Let’s take a look without naming names… but with 720+ FICO scores.

10% Down Payment, 30 year fixed, Sales Price up to $722,000 and the recent rate was 4.75% with 1.25 points.

5% Down Payment, 30 year fixed, Sales Price up to $438,900 and the recent rate was 4.875% with no points.

3.5% Down Payment, 30 year fixed FHA, max loan of $729,500 and the recent rate was4.875% with no points.

7-Year Conforming Jumbo ARM and the recent rate was 3.99% with no points.

15-Year Fixed had a recent rate of 4.25.

And loans up to the $1.5 million amount at rates of 5.625%!

If you currently have an adjustable rate loan tied to the LIBOR Rate, then take a look at the current 0.97% rate at BankRate.com .

I list these rates for information only and should be considered examples of mortgage rates available in Northern Virginia in December 2009. Also these are for new purchases and not for refinances which are typically slightly higher. Also, I am a licensed real estate agent and do not provide mortgages and have no affiliated business arrangements with any mortgage providers.

Related articles by Zemanta
  • Friday’s Rates: Welcome Back Jumbo! (raincityguide.com)
  • McLean, VA | My Buyer Agent pick of the week… advice! (dougfrancis.com)
Reblog this post [with Zemanta]
Share this with a friend...Share on FacebookTweet about this on TwitterShare on LinkedInPin on PinterestEmail this to someone

Filed Under: Blog, Home Buyer Tips Tagged With: McLean, mortgage, Northern Virginia

About Doug Francis

A Realtor specializing in unique and new homes around Vienna, Virginia, Doug started writing a first-hand blog about his everyday real estate experiences a decade ago. In-depth, helpful and fun has always been the objective. Outside real estate, he was profiled in a commercial for Verisign's "Where the World Clicks" global ad campaign, and was quoted in Money Magazine's Best Places to Live article on Vienna (#3!). He's a Boston University graduate who feels morning coffee is non-negotiable.

Vienna real estate agent Doug Francis

I’m so excited that you found me! Yes, this site covers real estate, but also a lot about lifestyle and  living in Vienna, Virginia outside Washington, D.C.

There is a lot of info here, and you can also contact me with any specific real estate questions. And, at home consultations are available too.

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.

Let me help you: 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

Planning to sell your home?

Case Studies

Listing Case Studies Continue Reading

Thinking of Moving?

If you want to talk about your house and getting it ready for the market then let's set up a time to talk. Even if it's a second opinion, it's okay. Start here.

  • This field is for validation purposes and should be left unchanged.

Have a question?

Homeowners: Add a level of privacy

name withheld by request

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
A 3 part video series to help Vienna home sellers understand buyers today

Questions Home Sellers Ask

There are times when a client asks me a question about something that seems obvious to me, but makes me realize that I’m assuming too much. You also may do something so well simply because you understand the process step by step. Like it’s second nature. I put together this 3-part series of videos to […]

“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 2023 right now.

Thanks for reading, and feel free to contact me at 703-304-6827 or email me at doug@dougfrancis.com anytime!

Search for a subject

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?

Search for homes in Vienna

Vienna Real Estate Guide

This material can only be used with written permission.

Equal Housing Opportunity

 

Copyright © 2023 Doug Francis · Minimum Pro Theme on Genesis Framework · WordPress · Log in