For years clients have asked me about refinancing their mortgages, or called to tell me their great new rate. But, when the conversation turned to what my interest rate, they were typically amazed that my rate was below 3%. So, how did I get that rate? For the past decade I have used an ARM on my house in Vienna. Yes, an Adjustable Rate Continue Reading
Refinancing a Virginia home has a special tax exemption…
Last week I attended a conference at George Mason University where a number of economists discussed many real estate related topics. One panelist, Dr. Frank Nothaft who is the Chief Economist of Freddie Mac, commented how mortgage rates are at almost 50 year lows and are probably going to remain low for the next 6-12 months. So if that Continue Reading
The truth about Option-ARM’s and traditional ARM’s
What the heck is an Option-ARM and why do they get headlines? In the Option-ARM mortgage, the borrower can decide how much she will pay each month. For example, the true Principal and Interest payment is $1,500 per month but the borrower decides to pay only $1,300 per month. That extra $200 per month then gets added to the principal due. It Continue Reading
Northern Virginia home appraisal X factor
You may think that you found the best rate for your home refinance, but there is an X-factor that may screw up the whole plan... and that is your appraisal! Also, see my response to a question on Trulia. Continue Reading
Refinancing a mortgage in Virginia
Saving money is always why people want to start the hassle of refinancing. And with today's fixed rates still around 5%, I get calls and e-mails from past 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 secret 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
