There are some new guidelines that are being implemented by the Federal Reserve starting July 30th, 2009 as reported in The Washington Post over the weekend. Any agent who sells homes (listing agents, pay attention) better get familiar with them or your deals may get delayed at a moments notice, or learn the hard way that buyers believe they can Continue Reading
McLean lender reports mortgage rates increased last week, watch out!
(2009)Mortgage rates in Northern Virginia will likely stay close to their current range for the rest of the year, if you ask me. So don't panic home buyers... your rate should be there. Next week is the mid-year NAR conference in Washington D.C., and you should expect the usual cast of characters to address the one-million member association. Continue Reading
Home Buying Course 409 (Spring Semester)
Prereq: loan pre-approval 305, buyer consultation 206, cost estimate review 108, time frame 201 Okay, this isn't a real college level class but it is at the level a home buyer needs to be if they want to take advantage of today's real estate market. There is an "on-sale" mentality that has taken hold in our area, and home buyers who have been on Continue Reading
My insider’s tip to refinancing your mortgage… in Virginia
Saving money is always why people want to start the hassle of refinancing. And with today's fixed rates around 5%, I get calls and e-mails from past real estate clients with questions about their options all the time. It is nice to be considered their go-to guy when it comes to real estate questions, and now you too shall know the big refinancing Continue Reading
Fannie and Freddie loans are more expensive April 1
The L.A. Times recently published a piece discussing how Fannie Mae and Freddie Mac were raising fees, and toughening credit rules depending on FICO credit scores. So start watching for "delivery fees" if you are putting down less than 30%. That's not a typo! below 700, add 1.5% 700-720, add .75% 721-739, add .25% Meaning, if you Continue Reading
