Are you a buyer looking to purchase Fairfax, Va real estate or other Northern Virginia real estate? Actually, anyone looking to purchase a new home with an FHA mortgage loan needs to be aware of some changes on the horizon for mortgage insurance premium (MIP) requirements.
If you are in process of procuring a mortgage to purchase a Fairfax, Va home, or any home for sale in Northern Virginia, it’s important to understand the tax implications of “buying down” your interest rate with pre-paid points. Pre-paid interest, sometimes called “points”, can be tax deductible when a person pays them in connection […]
The question plaguing every Northern Virginia tenant who wants a home of their own is whether it is more beneficial to continue renting, or to purchase a home of their own. The Fairfax, Virginia real estate prices look great, and the interest rates are still attractive. But what factors should you consider before taking the plunge?
you been searching Northern Virginia homes for sale to find some great rental investments? Rental properties can provide a great return on investment, if you know what to look for, and what factors contribute to a successful rental.
The Northern Virginia real estate market has been heating up this summer, and loan interest rates have stayed low, so you may be considering buying a new home, refinancing or getting a home equity loan. In any of those situations, knowing the current value of your home is important. Home values are best determined by recent sales and the supply and demand of properties currently on the market.
Beginning April 1, the FHA will raise the annual Mortgage Insurance Premium (MIP) to 1.25% of the loan amount. MIP is a requirement on all FHA loans, and covers lenders when borrowers default on their mortgages. Also, starting June 1, the premium on high dollar FHA loans (larger than $625,500 in high-cost areas) will increase […]
Fairfax VA – A homeowner – we’ll give him the alias Peter – recently asked me a question about foreclosures. Peter, who was facing foreclosure himself, asked, “I am six months behind on my mortgage payments. I just got the tax bill for 2010 in the mail. Should I pay it?” Peter asked me what […]
Fairfax VA – I recently wrote a post about how banks will lose more money through a foreclosure than a short sale. In fact, a recent study by Boston Consulting Group showed that a lender will net 20% more money on a short sale versus a foreclosure. The reason for this is because short sales […]
Fairfax VA -Recently I read a book by former real estate agent Robert Ringer. The book addressed the power of persistence in ensuring success. He told a story about phoning a call center and I’d like to share it with you. When he called, the first person told him that he wouldn’t be able to […]
Fairfax VA -Individuals facing foreclosure might wonder if it’s best to do a deed-in-lieu of foreclosure and just give their home back to their lender. A deed-in-lieu does have its benefits – for the lender that is. Lenders like them because it speeds up the foreclosure process. After all, a deed-in-lieu is basically like pleading […]
