WHEN TO DISPLAY THE FLAG

America just celebrated her 239th birthday! The Flag, or “Old Glory” as she is often called, is the emblem of our country. She was displayed nation-wide on July 4th and was being waved all day by proud Americans. This isn’t anything new, though. JS Realty Fireworks Nation DCYou see flags all the time; in front of schools, public offices, even homes. But did you know there is an official Flag Code? This code formalizes and unifies the traditional ways in which we give respect to the flag, and also contains specific instructions on how the flag is not to be used. According to the code, “The flag represents a living country and is itself considered a living thing.”

JS Realty USA Flag Seal GreatInitially, there were no reasons left as to why Red, White, and Blue were chosen to represent the USA. However, in 1782, Congress chose the same colors for the Great Seal and offered this designation:

Red – hardiness and valor
White – purity and innocence
Blue – vigilance, perseverance, & justice

Also listed in the code among the various do’s and don’t’s is a detailed list of the days on which the flag should be displayed.

So when should “Old Glory” be displayed? The Flag should be displayed on all days, but especially on:

JS Realty Flag Old Glory FlyingNew Year’s Day—January 1
Inauguration Day—January 20
Martin Luther King, Jr.’s Birthday—3rd Monday in January
Lincoln’s Birthday—February 12
Washington’s Birthday—3rd Monday in February
Easter Sunday (variable)
Mother’s Day—2nd Sunday in May
Armed Forces Day—3rd Saturday in May
Memorial Day—last Monday in May (fly at half-staff until noon)
Flag Day—June 14
Father’s Day—3rd Sunday in June
JS Realty Flag US BuildingIndependence Day—July 4
Labor Day—1st Monday in September
Constitution Day—September 17
Columbus Day—2nd Monday in October
Navy Day—October 27
Veterans Day—November 11
Thanksgiving Day—4th Thursday in November
Christmas Day—December 25
State holidays
States Date of Admission—June 25th for Virginia, April 28th for Maryland
And other days as may be proclaimed by the President of the United States.

JS Realty Flag Half Staff MastIn addition, half-staff the Flag (sunrise to sunset) on these days:

Peace Officers Memorial Day—May 15
Patriot Day—September 11
Fire Prevention Week—Sunday, usually of week in which October 9th falls
National Pearl Harbor Remembrance Day—December 7

Download a printable version of Dates to Display The Flag.

Additional details about Old Glory and the full Code can be found here.

If you have a flag that is weathered, tattered, or beyond repair, please contact the National Capital Area Council Boy Scouts of America so that it may be disposed of during a flag retirement ceremony.


This is a great time to buy and sell a home in Loudoun County! Contact us today for a no-obligation consultation and find out how we can help get you into the home of your dreams!JS Realty Free Analysis Contact Us

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

5 Reasons You Need a Realtor

Do I Really Need a Realtor?

*Note: this blog was updated in August 2017*

In a previous blog we gave you tips on Choosing Your Realtor. But many people still wonder with the internet and it’s limitless supply of information and videos, available 24/7 – do you really need a Real Estate Agent in this day and age?

JS Realty Stress Realtor Man OnlineThe answer is YES, you absolutely do! In fact, there are actually some reasons you need a Realtor more today than ever before. Buying and selling a home is such an exciting time in your life. Why try to reinvent the wheel and spend countless hours researching market information or looking for a document that may or may not be outdated? Enjoy your time looking at homes and preparing for a successful transaction by hiring a Realtor to help you along the way.

5 Reasons You Need A Realtor

#1 – REALTORS HAVE ALL THE LATEST TOOLS!

Meeting Realtor ContractsAny full time Agent has a multitude of subscriptions to websites that assist or help in the home buying or selling process (you should see our username spreadsheet, it is several pages long!). Some of these sites have fees and some of them don’t, but just knowing which ones are useful or even good is a part time job. Your Agent will save you time and energy by using their resources to simplify the home buying or selling process. Agents also have access to the MLS, which has data that you can not find anywhere else on the web. It is up to the minute, Realtor-to-Realtor information about the property you may be interested in, or the neighborhood you may be selling in. Let your Agent give you current, relevant information instead of the outdated listing you may find while surfing the web.

#2 – REALTORS KNOW THE MARKET

JS Realty Market Cloud Bubble Analysis RealtorThis is what they do all day – they live and breathe real estate. A seasoned Agent knows how deals are being negotiated in certain markets, they know the feel for whether or not a micro-market is hot, whether it is a sellers’ market or not, etc. And this is just the beginning! Having an Agent help you understand how to not just present your offer, but how to make it a winning offer that suits current conditions is vital. This knowledge of the market applies to 6 or 7 different topics within the contract alone that can make or break your offer. Your Agent already knows what others are currently doing in these markets, so why waste time trying to figure it all out yourself?

#3 – REALTORS KNOW HOW TO SELL AND SELL FAST

JS Realty Showing Home RealtorRealtors know how to sell homes – it’s their job! They know the latest tools to use and what the buyers want. Today, prospective buyers expect professional photos and videos to accompany your listing. Let your real estate Agent handle staging and marketing your home across various channels. Plus, let them screen candidates before you spend your valuable extra time cleaning your home for a showing. Your Agent won’t waste your time showing off your home to someone who is not even qualified to buy it.

#4 – REALTORS KNOW HOMES!

JS Realty Magnifying Glass Looking Inspecting RealtorA seasoned Agent has attended and negotiated dozens of home inspections. This brings them to a level of experience and knowledge that can only be learned by navigating a variety of challenges and different homes with different issues. If you are selling, they can prepare you to avoid certain hurdles by making the necessary repairs in advance. If you are buying, they can look for potential issues while you enjoy looking at the size of a room and envisioning where your TV will fit on the wall. An expert eye will be looking for water leaks, a yard that may have potential issues or even just the age of the appliances and major systems. Being able to have multiple sets of eyes and different perspectives can really make or break your buying or selling experience.

#5 – COORDINATION SKILLS AND RESOURCES

JS Realty Files Notebook Realtor DeskYour Realtor will have access to the multitude of current documents that are needed along the way. Just making an offer can be a 28 page document! In addition, there are contingencies to attend to and either negotiate and/or remove. There may be notices that need to be provided or documents to receive. A great Realtor will have systems in place to keep track of each and every aspect of not only the contract, but coordinating all the folks that help you buy the home. Do you really want to worry about whether you ordered your termite inspection and who needs it after it is done? What happens if there are termites, and how do you address it to keep you in compliance? A great Realtor will make it all look simple.  Just know that on the back end there is a lot going on that you don’t have to worry about. You have enough to take care of with the loan process, packing, and moving. Focus on your new home and let the experts take care of the rest!

The JS Realty Team is dedicated to building lifelong relationships, and helping clients fulfill their dreams through ethical, honest, and fair real estate solutions. We have over $500 million in closed transactions, and our Team of professionals is ready to help you buy or sell a home!

Loudoun Brambleton JSRealty4U Realtor
The JS Realty Team @ Samson Properties

CONTACT US TODAY!

 

Homeowners Insurance

Homeowners insurance is a very important part of home ownership. The JS Realty Team @ Samson Properties guides our clients through the entire home buying process, but there are 2 items that the Buyer must handle themselves: obtaining their loan and purchasing homeowners insurance.

Homeowners insurance will be required by your Lender if you have a mortgage on your home, and they will require a minimum level of coverage to protect their interest in the property.

Homeowners Insurance is actually comprised of two different types of protection: hazard and liability coverage.

JS Realty House Fire Attic RoofHAZARD INSURANCE
This protects you should any damage and/or destruction happen to your home and contents. It will cover fire, theft, and certain natural disasters. If you live in a flood zone or in an area that could potentially have earthquakes you will need to purchase additional coverage to include these natural disasters.

LIABILITY COVERAGE
If someone gets injured on your property, the liability coverage is in place to protect you from medical costs and possible lawsuits.

There are also several factors to consider when choosing your insurance:

COVERAGE MINIMUM – Depending on how you feel about insurance, the minimum level that your Lender requires might not provide you with enough peace of mind. Although you may want to keep your homeowners insurance cost down, you also want to make certain you have all the coverage you need.

JS Realty Insurance Policy DocumentWHAT IS INCLUDED – Be very clear about what is covered and more importantly what is NOT covered. You don’t want to lose something and later find out it wasn’t included in the policy.

DEDUCTIBLES – Most policies come with a $500 or $1,000 deductible, but speak with your insurance agent to see what works best for you – and your budget!

PERSONAL PROPERTY – Be sure you know exactly what personal property is covered. You’ll also need to determine whether you want replacement value or depreciated loss value. You should also review the value of your possessions yearly. You don’t want to spend money for coverage you don’t need if the value of certain items has decreased.

JS Realty Home Office WorkingBUSINESS NEEDS – Do you have a home office? There are both property and liability business exposures that most standard homeowner policies don’t address, as well as low levels of coverage. The typical policy appears to be around $2,500 for in-home office equipment. And while that may sound like enough, by the time you add the costs of your computer, software, tablet, printer, scanner, phone, furniture, etc., it could very well exceed that amount. You’ll need to find coverage that can include all of your home office equipment and supplies.

Remember, your home is usually your largest investment. This is not the time to save a few dollars and possibly expose your family to hardships if the unthinkable happens. Perform your due diligence, be comfortable knowing what your homeowners insurance covers, and ensure that you have enough protection in place.Happy Couple Keys Home JS Realty

Contact a JS Realty Team member to answer any questions about any facet of the home buying or selling process or if you need a referral for a reputable insurance agent.

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

VISITING JAMESTOWN

It’s Independence Day weekend and what better way to kick it off, than with some great info on visiting Jamestown! We took an impromptu trip two weeks ago and headed south towards Williamsburg. We ended up spending a day exploring both sites. The Jamestown Settlement and Historic Jamestowne sites are minutes apart, and while each one is quite unique and has fun and interesting features, you can easily spend an entire day visiting just one location. However, if you’re traveling with younger kids, like we were, it worked out well to hit both places in the same day.

Historic Jamestowne
This is the actual site where 104 settlers arrived on May 14,1607. After checking in at the Visitors Center (which has many artifacts and lots of information), you are free to walk the grounds and explore. Signs and information boards are set up at different points to let you know where you’re standing and what happened there.JS Realty Jamestown Site Map

Another way to explore the site is to take a free tour, guided by an archaeologist.

JS Realty Jamestown Excavation
Current Excavation

As you visit the different sites and spots, you will get a wonderful account of all that has been found, along with details about the current excavation. Our Guide actually jumped right into a pit and showed us the possible cellar of the building they were excavating!

If you’re ready for lunch or a quick snack, stop by the historic Dale House Café near the water’s edge. It’s a scenic spot to rest up before continuing on to the Archaearium – a museum that houses the most impressive of the two million artifacts uncovered since the Rediscovery Project began in 1994. There are even several places where the flooring is made of glass, so you can see down to the original stones and foundation of the building under the Archaearium.

JS Realty James River Kids
Looking out at the James River.

Jamestown Settlement
After spending a good 2-3 hours exploring the archaeological site, we headed over to the Jamestown Settlement, which is a re-creation of the original and a “living/working museum”. You could spend hours just wandering through the museum itself.  Our first stop was actually the Cafe for a quick lunch! The food is cooked to order and they have a decent selection of items to satisfy even the pickiest eaters – and we had 3!

JS Realty Old Virginia MapAfter lunch, we wandered through the gallery exhibits learning about Jamestown’s beginnings and viewing hundreds of objects and artifacts from 17th-century Europe, Africa, and Virginia. The items are integrated into the museum, which features three-dimensional structures and small theaters. The best part was that almost every placard or information board featured an item to touch – linen, wool, deer skin, iron cuffs, etc. so you really got a sense of what the settlers were using or wearing.

JS Realty Jamestown Powhatan Village
Powhatan Houses

After learning more about life in the 1600’s, it was time to explore the three outdoor-living, hands-on history areas. First was the re-created Powhatan village featuring reed-covered houses, crops and a ceremonial circle of carved wooden posts. You can walk in the houses, sit on the deerskin covered beds and even use a chunk of a log and rock pestle to grind corn into meal (we had a hard time dragging one of the little ones away from that!). We were quite fascinated to watch a Powhatan Indian interpreter make a log canoe by burning the inside of a tree trunk and then scraping it out with an oyster shell.

JS Realty Three 3 Ships
Ships at Jamestown

Our next stop was checking out The Ships – re-creations of the Susan Constant, Discovery, and Godspeed that brought America’s first permanent English colonists to Virginia in 1607.  The ships are moored at the pier and are completely hands-on! Once aboard the ships, you can explore the tight conditions, try steering with a whip-staff or tiller, tie sailors’ knots, and even climb into a sailor’s bunk. Costumed interpreters are on all 3 ships and give a great account of what it was like to sail from England in 1607 and can answer pretty much any question you might have.

JS Realty Armor Dress Up
The armor was heavy!

Our last stop was the James Fort. The re-created 1610-14 fort contain structures topped with thatch roofs depicting dwellings, as well as an Anglican church, a court of guard, a storehouse, a cape merchant’s office and a governor’s house. Historical interpreters even forge and repair metal objects in a blacksmith’s forge and show how matchlock muskets are fired (warning: the muskets are loud!). You can even try on armor and play games! 

Overall, visiting both sites was a fantastic way to learn about Virginia and American history. Children have plenty to see, handle, and explore, while Adults can enjoy learning new facts about the area and even feel like a kid again! Williamsburg and Jamestown are only about a 3-hour drive from the Northern VA area and is definitely something you could do over a long weekend.


The JS Realty Team prides ourselves on helping our clients through the entire buying and selling process, from the first search for a home, to closing and beyond! Contact us today – we’d love to help you find your dream home!

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

MORTGAGE LOAN REFINANCE

Generally speaking, a loan refinance is a new loan to replace an old loan. Let’s look at the various reasons why a refinance would be appropriate.

JS Realty Business Man Text Save How

LOWER MONTHLY PAYMENTS – If your current interest rate high, refinancing at a lower rate can save you significant money each month. For example, if your loan amount was $300,000 and your rate is 5%, your monthly Principal and Interest (P&I) payment would be $1,633 per month. If you refinance the same $300,000 at a rate of 4%, your monthly P&I payment would be $1,432 or a savings of $201 per month. This equates to a savings of $2,412 per year and will save you $12,060 in five short years!

JS Realty Interest RatesLOWER INTEREST RATES – Interest rates can be lowered due to a change in the industry as a whole, such as the example above. Interest rates can also be lowered by shortening the term of the loan. 15 year rates will be lower than 30 years loans. Adjustable Rate Mortgages (ARM’s) are loans that are fixed for a specific time period such as 3, 5 7 or 10 years and will typically be offered at rates lower than a 30 year fixed loan.

SHORTEN LOAN TERM – A loan refinance can be considered as a way to reduce the length of your loan. Changing from a 30 year loan to a 15 year loan can greatly reduce the number of payments needed to pay off your loan. This is often used by borrower’s who have increased incomes since the beginning of their initial loan and can afford the higher monthly payments.JS Realty Loan Terms Paperwork

CHANGE FROM ‘ARM’ TO FIXED – Adjustable Rate Mortgages are fixed for a period of time and then they begin to adjust or change rates on an annual basis. Refinancing to a fixed rate term alleviates potential rate increases that can occur with the ARM’s.

COMBINE TWO LOANS INTO ONE – When purchasing a home, many borrowers obtain two loans to reduce the amount of down payment or to keep from paying mortgage insurance. As the value of the home increases, a single mortgage can replace both loans at a lower rate than the original two loans.JS Realty Refinance Application Form Pen

ELIMINATE MORTGAGE INSURANCE – Initial loans with a down payment of less than 20% will often have monthly mortgage insurance payments as part of the mortgage payment. Also, FHA loans include monthly mortgage insurance payments that you continue to pay for as long as you own the loan. As the loan balances decrease and property values increase, refinancing into a new loan with a loan-to-value of  at least 80% will eliminate the need for mortgage insurance payments.

CASH OUT –With enough equity in a property, refinancing is a great way to get cash that can be used for virtually any reason.
Some examples may be:JS Realty Refinance Monney Calculator Bills

-Home Renovations/Additions
-Auto purchase
-Boat purchase
-Medical bills
-College Education
-Pay off other debts that carry higher interest rates such as credit cards

If any of these scenarios seem to match your situation, please feel free to contact me to discuss how a mortgage loan refinance can benefit you.

JS Realty Keith Harris
Keith Harris
NMLS # 838973

Keith Harris
Senior Loan Officer
Intercoastal Mortgage Company
Direct: (703) 259-0788
Cell:    (703) 395-6601

 

 

 


 

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

GETTING READY TO MOVE

Getting ready to move can be overwhelming to say the least! Earlier this week, we gave you a few tips on making Moving Day a little less stressful. Now we’ve got a checklist for you to help you stay on track! From cleaning, to packing, and everything in between, here’s what you need to remember when you’re getting ready to move:

CLEAN THE NEW HOME
JS Realty Cleaning CleanserOur #1 recommendation is to clean the home you are about to move in to. It is the only time that the home is vacant and ready for a full cleaning. Clean things like cabinets, drawers, corners of closets, window, lights, etc. Most homes are cleaned before you move in – but if not, make sure you take a couple hours to put the elbow grease in before you pile all of your things in the home.

PACK SOME ESSENTIALS
JS Realty Essentials MovingPack a box or bag of essentials that you will need the next few days after the move. Things to include: a few changes of clothes, kitchen utensils, towels, sheets, a can opener, electronic and phone chargers… anything you might need for a few days while everything else you own in still in a box! The last thing you want to do is dig through a dozen boxes to find these little essentials. Also, keep a folder handy that has your most important papers in it, so it is easily accessible in the event you needed to get to them quickly (this helps keeps them safe, too).

SORT AND SELL ITEMS
About 6 weeks before you  move, start sorting and selling items. This will allow you enough time to coordinate, de-clutter, and organize. Moving is a perfect time to get organized!JS Realty Donate Sell Trash Bins

START PACKING
Pack one box at a time. Remember to designate an area or box/bag for trash, donations, any additional things you will be selling and things you are giving to JS Realty Box Label Movefamily or friends. Remember to label your boxes clearly. Packing and labeling them by room is a great start, and label boxes on their sides, as you will most likely be stacking them. It also helps to make a list of what is in each box if you are considering storing your boxes after moving.

TAKE PHOTOS
If you are disassembling electronics or furniture, do yourself a big favor and take a picture of it BEFORE you take it apart. This will really help when you go to put things back together! This time saving trick will save you lots of frustration, too.JS Realty Cable Box Cords Plugs

CHANGE YOUR ADDRESS
Change your address with everyone! There is nothing worse than ordering something great on Amazon and it getting sent to your old address. Think of all of your online ordering sites, banks, PayPal, credit cards and of course your family and friends – you don’t want to miss out on the yearly birthday card from Grandma!

JS Realty Move Boxes Change Address
Great way to use those left over boxes!

Moving is an exciting time, full of anticipation of what the future holds in your new home. Take it one step at a time, prepare to be successful, and you will find that moving is not as hard as you think!

For additional tips, tricks, and moving hacks, check out The JS Realty Team Pinterest Page!


Don’t forget to Contact Us today for a FREE, no-obligation consultation!

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

MOVING DAY

JS Realty Calendar Red Moving DayThe day has finally arrived – it’s moving day! You have accomplished your goal of buying a home and now reality is setting in.  Packing up and moving your belongings can be a stressful event. Good preparation and planning will help minimize the stress.

Here are some tips to help you get started:

DONATE UNUSED/UNWANTED ITEMS
JS Realty Donation Moving Clothes CharityOne fabulous benefit of moving is that it’s a great time to purge your home.  The more you purge the less you have to pack! So it saves you time and money in moving expenses. If you haven’t worn or used an item in the last 6 months, donate it!  There are many great charities that will take unwanted clothes, books, furniture and anything else you don’t need or use. The JS Realty Team uses Salvation Army because they help a lot of people in our community.  Find a charity you connect with and help people in need, while at the same time reducing the clutter around your new home.

ORGANIZE
JS Realty Moving Closet Drawing
Now that you have reduced the amount of unneeded items in your possession, it is time to organize your new home!  If everything has a place then it is easier to keep your new home organized.  There are many resources out there to help you organize every corner of your home.  From the garage to the Master Bedroom closet you will be amazed at how a little planning and a few organizational tools can help you make the best use of the space you have.  Alejandra Costello is a wonderful local resource to help you with ideas.

Purging unwanted items and organization will not only ease the moving process, but it will help keep your new home in order.

The JS Realty Team @ Samson Properties prides ourselves on helping our clients through the entire buying and selling process, from the first search for a home, to closing and beyond! Contact us today to see how we can help you on Moving Day!

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

MARKET UPDATE – LOUDOUN COUNTY

JS Realty Flag LoCoEarlier this month the JS Realty Team at Samson Properties provided a market analysis of Brambleton in Ashburn, Virginia. Today we are going to expand the market update to include all of Loudoun County, and compare the trends of the whole county to what we saw in the Brambleton subdivision.

Q1 2015 Loudoun County Market Update – Full Report

The Loudoun County housing market has also had a strong first quarter. The sold dollar volume is up + 19.56% from JS Realty Where Market Going Newspaperthe previous year and units sold are also up +16.88%. The percentages are obviously not as large when compared to Brambleton, but keep in mind we are looking at Loudoun County as a whole, not just one of its most popular subdivisions. When you compare average days on the market in Loudoun County to the previous year you will see a modest increase from 58 in 2014 to 81 in 2015. This can be mostly attributed to the increase in inventory from the year before – classic “supply and demand”. Overall, similar to Brambleton, the whole county is experiencing a market that is on the move in a positive way.

The JS Realty Team also mentioned previously that the “buzz” in the lending world was that interest rates were going to rise slightly over the summer. We have seen that come to fruition over the last couple weeks. They have crept up a little, but are still close to historical lows.

JS Realty Buyer Seller Road SignWe expect this positive market to continue for the foreseeable future. The JS Realty Team has stayed busy helping our clients achieve their goals through the buying and selling of homes. It has been a great year so far and we look forward to helping even more of our clients in the remainder of 2015.

Have a great summer! Don’t hesitate to contact a JS Realty Team member with any questions or to get a FREE no obligation home/market analysis on your home.

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

FEATURED HOME – HAYMARKET, VA

This gorgeous 4-level home was just listed for sale yesterday!

1971 Mountain Road in Haymarket, VA is on 10 acres and has a creek! With 4 bedrooms, 4 full bath and 2 half bath, there is lots of space in this beautiful, custom built brick & siding home!

JS Realty Mountain Road Home Family StoneTons of natural light floods in through wood case windows, and solid wood doors are found throughout the home.  A two-car extended garage and spacious, paved circular driveway has lots of room for parking, and this home is perfect for those who want privacy but still need to commute – it’s only a short drive to Route 15 & Route 50.

JS Realty Mountain Road Back YardThe beautifully maintained yard with custom landscaping, mature trees, and stone walkway lead you to a spacious wrap-around porch. A 2-story deck with a screened in Gazebo is perfect for grilling & throwing parties or just enjoying your morning coffee & taking in the quite scenery around this lovely home.

The 10-acre lot features plenty of storage outside with both a shed and a pole barn, while a fun playground set is sure to keep the kids entertained.


If you’d like to schedule a showing of this amazing home and large property, call us today at 703-475-1003!

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

MORTGAGE LOAN FEES

What Fees are Associated with a Mortgage Loan?

There are a number of fees that a borrower may encounter when finalizing a mortgage loan for a real estate purchase or a refinance. We’ve compiled a list of fees that are part of the settlement for a JS Realty Mortgage application form with a calculator and house.mortgage loan. The fees can be separated into several categories: lender fees, escrow deposits, prepaid items, title fees, government recording and transfer fees, and additional settlement fees.

LENDER FEES

-Origination Charges – these are comprised of fees charge by the lender to process and underwrite the loan
-Discount Points – these are charges to the borrower for a particular loan interest rate or certain loan program
-Credit Report – fees charged to run a credit report for the borrower
Appraisal fee – cost to have a licensed professional provide a market value of the property
-Flood Certification Fee – this is needed to determine if your property is located in a flood zone and if flood insurance is needed on the property

PREPAID ITEMS

Daily Interest Charges – interest is paid from date of settlement through the end of the same calendar month
Homeowner’s Insurance – initial premium is paid upfront
Mortgage Insurance (if necessary)

INITIAL ESCROW DEPOSITS

Property Tax Fee JS RealtyMost loans require the borrower to pay for property taxes and homeowner’s insurance on a monthly basis as part of the mortgage loan payment. When property taxes are due (typically twice a year), and homeowner’s insurance (annually) the lender will pay the bills out of the escrow funds.

TITLE FEES

-Settlement fee – Charged by the settlement company for preparation of closing documents and conducting the closing.
-Lender’s title insurance – cost of insurance covering the amount of the loan. This is required by the lender and covers title issues for the life of the loan.
-Owner’s title insurance – OPTIONAL coverage for the owner’s to protect against any tile claims on the property. This policy will protect the owner’s forever.

GOVERNMENT RECORDING AND TRANSFER FEES

JS Realty Calculating Money Finance FeeGovernment Recording Fee – fee charged by government to record the deed of trust
Transfer Taxes – basically a sales tax that is paid to the local government as well as the state government

ADDITIONAL SETTLEMENT CHARGES

There can be several “additional” fees associated with a loan. Here are a few:

-Pest Inspection
-Survey
-HOA/Condo Transfer fees
-HOA/Condo dues

JS Realty Keith Harris
Keith Harris
NMLS # 838973

If you have any questions about a loan, or would like clarification on any of these charges or fees associated with mortgage loans, please contact our preferred Lender, Keith Harris at Intercoastal Mortgage Company.

 

 


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