There are many options when it comes to financing homes for sale in Woodbridge VA.
To find out more about purchasing a home in and around Woodbridge VA contact Claudia S. Nelson with Keller Williams Realty at 571-446-0002.
Get pre-qualified for financing on homes for Sale in Woodbridge VA click here
Conventional Loan
The most common and one of the most popular loans currently is a conventional loan. For most conventional loans you have to have a higher credit score then for an FHA loan, however with most conventional loans you do not have to pay the private mortgage insurance. Down payments for conventional loans normally start at 5 %.
FHA Loans
With an FHA loan credits score requirements are a bit lower then for a conventional loan. Down payments start as low as 3.5 %. Although the PMI or private mortgage insurance percentage has just been reduced for a FHA loan there is still PMI that you will have to pay. Interest rates are generally a little bit lower compared to a conventional loan.
VA Loan
VA loans are only available to qualifying veterans or current service members. If you have a VA eligibility first of all THANK YOU FOR YOUR SERVICE. VA loans are the best loans out there. There is no down payment requirement for a VA loan. No PMI and interest rates are very competitive for a VA loan.
First time Home Buyers Loans
There are several first time home buyer programs or programs for educators, firefighters, law enforcement or healthcare providers. If you fall into one of these programs call me today to get additional information or contact the lender Carol O'Connell directly at www.CoConnell.com
To find out more about buying a home in or around Woodridge VA contact Claudia S. Nelson with Keller Williams Realty in Woodbridge VA today at 571-446-0002.
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