NOVA Homes Blog: Breaking Down the Mortgage Process for Northern Virginia Homebuyers

Tuesday, November 4, 2014

Breaking Down the Mortgage Process for Northern Virginia Homebuyers

Buying a home in Northern Virginia has many steps— from house hunting to beginning the mortgage process. And while finding your dream home may not be a quick and easy feat, the mortgage process can appear much scarier to some buyers.

As your Northern Virginia real estate expert, I look forward to simplifying the real estate process for my clients, including the process of obtaining a mortgage! I have three decades of experience and can recommend area finance professionals to put you at ease.

What else do you need to know about the mortgage process? The following should help break it down and further calm your nerves about buying a home in communities like Alexandria, Springfield, Fairfax, Falls Church or Arlington this year.

You need: Down payment

To qualify for a mortgage in Northern Virginia, a down payment of anywhere from 5 to 20 percent is helpful. Don't let previous assumptions about money down stop you from purchasing your dream home— depending on the type of mortgage you choose, your down payment could be as low as the single digits.

You need: Income verification, credit history

Your lender will want to see verification of your income and your credit history to ensure you have the funds to make a monthly mortgage payment. Now is the time to put together all of your documents, keep them organized and research your credit history to ensure there are no errors. If there are, correct them before you begin!

A stable income and good credit history will put you on the path to homebuyer success.

You need: Appraisal

The lender will need to verify the value of the home you wish to purchase in Northern Virginia.

You need: A real estate agent

Remember that your real estate agent has done this before— leave it to the pros! Team up with an experienced agent in NoVA who can answer any concerns or questions you have about the process. I am happy to help!

I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna.

Earle Whitmore

Long & Foster Real Estate, Inc.
Visit Our Website
View Northern Virginia Homes for Sale
Become Our Facebook Fan
Follow Us On Twitter
Connect With Us On LinkedIn

No comments:

Post a Comment

..........................................

When you first meet Earle, she greets you with a firm handshake and a broad smile. She has a certain charm and friendly nature that immediately set you at ease. As you talk to her, she listens intently. You can see by the earnest look on her face that she’s already developing ideas and strategies to accomplish your goals. By the end of your conversation, you’re surprised that someone can have such a clear understanding of your needs after just one meeting. This is the essence of Earle’s real estate service. She’s a straightforward businesswoman who doesn’t let up until her clients are satisfied.
View My Complete Profile

......................................

Northern Virginia is a thriving area consisting of several communities that thrive with historical and cultural richness as well as physical beauty.
With all that the Northern Virginia area offers, there’s never a shortage of things to do, natural beauty and great schools. From the ocean to the mountains to the nation’s capital, this is a part of the country that has it all!
Earle has assembled some helpful resources to help you with finding your new home. From her comprehensive list of Local Links, her Home Style Guide, or hands on personal help, described below, you know you can count on Earle.