Mini Mortgage Questionaire
Posts By Naoma Doriguzzi
Becoming a first time homebuyer in Virginia doesn’t have to be overwhelming or difficult to achieve. But first you must be prepared!
Decide that you are tired of renting and want to invest in real estate
Meet with a qualified lender in your area to discuss your credit and finances
Make a plan to move toward the goal [...]
Virginia Beach, Virginia - (757) 971-2876
What FHA Insures
FHA insures mortgages on properties that consist of detached or semi-detached single family residences, townhouses or row houses, and individual units within FHA approved condominium projects. FHA will not insure mortgages on commercial enterprises, boarding houses, hotels and motels, tourist hourses, private clubs, bed and breakfast establishments, and fraternity or sorority houses.
Second/vacation homes [...]
Virginia Beach, Virginia - (757) 971-2876
New American Mortgage is now offering FHA jumbo purchase and refinance for Virginia. Contact us for pricing.
Purchase and Rate/Term Refinance
660 Minimum FICO for all borrowers
Max DTI ( debt to income) : 31/43
2 Appraisals required for purchase transactions, regardless of LTV
Gift Funds are not permitted, however, gifts of equity from family members may be accepted for [...]
Virginia Beach, Virginia - (757) 971-2876
You can purchase a home with no money down with a FHA mortgae in Virginia using the VHDA FHA Plus program.
Here’s how it works:
You must be a first time homebuyer ( not owned a property in the past 3 years)
There is a 1st mortgage at 96.5% financing and a 2nd mortgage at 5% financing for [...]
Virginia Beach, Virginia - (757) 971-2876
Getting a FHA Mortgage inVirginia is easy if you are working with an experienced team of professionals.
Why would you want a FHA mortgage?
If you have a small down payment of 3.5%
If you are a first time homebuyer in Virginia and can qualify for 101.5% financing
You currently have a FHA mortgage and would like to lower [...]
Virginia Beach, Virginia - (757) 971-2876
Here are the guidelines for using the $8,000 tax credit for Virginia FHA first time homebuyers.
Qualifications to receive the $8,000 tax credit:
A first time homebuyer ( not owned a property in the previous 3 years)
Your income doesn’t exceed $75,000 for single borrower and $150,000 for joint borrowers
You must be a US Citizen
The benefit is that [...]
Virginia Beach, Virginia - (757) 971-2876
The FHA Mortgage Limits in Virginia were last updated February 25, 2009 and here they are as follows :
The Hampton Roads Area limits for One Family Homes are $458,850:
Virginia Beach
Chesapeake
Norfolk
Portsmouth
Suffolk
Newport News
Williamsburg
Isle of Wight
Hampton
If you are in Virginia and looking for the FHA limit in your area not listed here you may contact me for details.
Naoma [...]
Virginia Beach, Virginia - (757) 971-2876
If you have a FHA mortgage now you may want to look into a FHA streamline refinance in Virginia Beach, VA which may help you lower your current payment and save you quite a bit than a regular refinance. With values declining in certain areas it seems to be harder to find solutions for refinancing [...]
Virginia Beach, Virginia - (757) 971-2876
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