BEST HOME DEALS IN BRAMBLETON THIS WEEK

Brambleton is full of amazing homes – check out this week’s Best Deals!

JS Realty Redeemer Terrace Kitchen
42677 Redeemer Terrace

Brambleton’s Lowest Priced Townhome this week!

 

JS Realty Angelique Drive Home
22819 Angelique Dr.

Over 6,000 Sq. feet of home for only $674,900!

 

 

JS Realty Bronstein Lane Home

23102 Bronstein Lane

Brambleton’s Lowest Priced Single Family home.

 

JS Realty Mayflower Terrace Condo

42542 Mayflower Terrace

Brambleton’s Lowest Priced 1BD 1BA Condo.

 

 

JS Realty Settlers Trail
22667 Settlers Trail

Brambleton’s Largest Townhouse style Condo at the lowest price.

 

 

Are you thinking about buying a home in Brambleton? Contact us now – we’re the Brambleton Experts!

The JS Realty Team – not only serving Brambleton, serving all of Northern Virginia.

CONVENTIONAL VS FHA LOANS

An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA)

So why is an FHA loan a viable option to be considered?

Compared to conventional loans, an FHA loan offers some advantages for borrowers. Some of these advantages are due to recent changes in the rules for FHA loans, along with some changes in guidelines for conventional loans. Here are some things to consider when looking to purchase a primary residence or even if potentially refinancing a current FHA loan:

  • Allowable debt-to-income ratio: this is often higher on FHA loans than conventional loans
  • Waiting periods: If your credit has been impacted in recent years, FHA has the JS Realty Mortgage Loan Approvedfollowing waiting periods that are often much shorter than for conventional loans.

Bankruptcy (Chapter 13) = 1 year
Bankruptcy (Chapter 7) = 2 years
Foreclosure = 3 years [Conventional = 7 years]
Short Sale = 3 years [Conventional = 4 years]

  • Loan Limits: In the DC Metro Area, an FHA loan is limited to $625,500, with a 3.5% down payment. Conventional loans between $417,000 and $625,500 typically require a 10% down payment.

Recently, the FHA reduced the monthly mortgage insurance factors from 1.35% to .85%. This will mean lower monthly payments for purchases and provides current FHA loans to be refinanced with a lower mortgage insurance payment. For example, on a loan amount of $400,000, there is a monthly savings of $161 with the new monthly mortgage insurance payment. In addition, 100% of the down payment can come in the form of a gift from appropriate sources.

Every borrower has a unique need, as far as their loan is concerned. If you have any questions or would like more information, please contact our preferred Lender, Keith Harris at Intercoastal Mortgage Company.

JS Realty KHarris LenderKeith Harris
Senior Loan Officer

NMLS Registry # 838973
Office: 703.259.0788
Mobile: 703.395.6601
KeithH@icmtg.com

 

The JS Realty Team – not only serving Brambleton, serving all of Northern Virginia.

BUYERS GUIDE TO PURCHASING A HOME – Part 1 of 2

One of the most rewarding experiences is finding the perfect home at the right price for our home buyer. The JS Realty Team strives to find that perfect match. From the initial consultation to celebration/settlement day we guide our buyers through the entire process.

During the initial consultation, it is very important for us to find out as much asYoung married couple at desk in a business meeting JS Realty possible about what our buyer is looking for in a home. Every buyer has different needs and we want to tailor their search to those desires. Discussing the buyers comfort price, ideal location, school systems, and housing concerns (number of bedrooms/baths, garage, yard size, etc.) are just the beginning of what we cover during our initial consultation. After that, we follow a few key steps to getting our buyer into their new home:

1. Prequalifying with a Lender – We do this so our buyer will have a clear picture of what their home will cost. It’s important they know what a down payment, closing costs, and the mortgage payments will be in their desired price range.

2. Activate an Automatic Search – After being approved by the Lender, we will activate an automatic search that will send out all the homes that fit our buyer’s criteria. Anytime a new listing enters the market, our system will immediately email the home to our client. Using this feature allows us to stay on top of all new listings!

3. Listingbook Account – All buyers will receive an account Listingbook JS Realtythrough Listingbook which will allow them to search in real time, on their own, through the same MLS system that Realtors use.

4. Schedule Showings – Getting to preview the homes they have selected is an exciting prospect for the buyer. We will plan out a home tour and schedule showings, getting feedback from the buyer on the positives and negatives of the homes. This helps us refine the search and discover what they feel is most important in a home.

5. Offer Contract – Once the buyers finds the home, we will sit down and write the offer.  As we do this, we will explain the many facets of the contract and the contingencies that we build in to protect the buyer. We will include an approved prequalification letter from the Lender for the specific price of the offer being made, along with an earnest money deposit. This deposit is a check made out to Samson Properties will be deposited into an escrow account after the contract has been ratified. The money will wait there until settlement.

6. Submitting the Offer – Once we submit the contract and all appropriateDiscussing business activity JS Realty paperwork, the negotiating begins. This is where our experience of selling over $200 million in Real Estate transactions enables us to negotiate the best deal possible for our clients. If buyer and seller agree to all terms of the contract, we are ratified!

There’s still a way to go before calling the moving trucks! Read the 2nd half of our Buyer’s Guide, where we will walk you through the inspections, appraisal, and settlement.