Doug Francis Real Estate Blog in Vienna and McLean, Fairfax and Arlington with a little humor too. Easy MLS Listing Search too.
Home sellers and buyers in Northern Virginia have felt the pain of the HVCC, the Home Valuation Code of Conduct. These new guidelines (May, 2009) dictate how real estate appraisals are conducted for all mortgage loans that will be sold to Fannie Mae and Freddie Mac. Government insured loans such as FHA or Veterans Administration [...]
The L.A. Times recently published a piece discussing how Fannie Mae and Freddie Mac were raising fees, and toughening credit rules depending on FICO credit scores. So start watching for “delivery fees” if you are putting down less than 30%. That’s not a typo! below 700, add 1.5% 700-720, add .75% 721-739, add .25% Meaning, [...]
My e-mail is doug@dougfrancis.com or call me at 703-304-6827 to discuss the real estate biz. Cheers! (Yes, you should hire me) [Read More …]
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Call me @ 703-304-6827