First Time Buyers Classes

Virginia Housing Development Authority offers first time buyers classes to learn more about the homebuying process and homeownership.

Market Rates Today

Wk/End 30YR 15YR 1YR 5/1ARM
Sep 21 6.40% 6.06% 5.54% 6.08%


Bobbi Dickerson, Preferred Mortgage

2006 Expected to be Third Highest for Total Sales

“Although both existing and new home sales for July fell below market expectations, confirming the slowdown in the housing market, we still expect 2006 to be the third highest year on record for total sales.”
Freddie Mac's chief economist, Frank Nothaft.

-Preferred Mortgage

Market Rates

For Week Ending August 24th:
30YR 15YR 1YR 5/1ARM
6.48% 6.18% 5.60% 6.21%

Your Credit Report

Your FICO Score.
Brief Description of what makes up the final numbers of these scores:
35%: based on payment history
30%: capacity
15%: length of credit
10%: accumulation of debt in the last 12-18 months
number of inquiries/opening dates
10%: mix of credit

What hurts your Score:
*missing payments
*maxed out credit cards
*closing crdit cards
*numerous trades in a short time
*having more revolving loans in relation to installment loans.

Your score is not affected by debt ratio, income, length of residence or employment.

Approximate Credit Weight for each year:
40%:present-12 month
30%:13-24 months
20%:25-36 months
10%:37+months

-Lending Solutions Consulting, Inc.

There are three companies that run credit reports.
Equifax: 1-800-525-6285
Experian: 1-888-397-3742
Trans Union: 1-800-680-7289

VA Housing Market Historically Strong

Since 1975 there have been only two years in which the housing prices in Northern VA have decreased. These two years were 1990 and 1992. These average sales drops were $359 and $2352 respectively. Considering our market gains of double percentage points, this only goes to show that VA continues to hold it's value.
Northern VA Area Home Sales Report, Annual Sales

VA creates 40,700 new jobs!

The DC metro area added 73,400 new jobs from April 2005- April 2006.
Of these new jobs, 40,700 new jobs were in Northern VA. These are jobs in the professional and business high paying areas.
Our unemployment rate in the Northern VA area remains low at 2.3%
John McClain, Center for Regional Anaylsis, GMU

DC Metro Area is Strong and Growing

New Jobs, Quality Education and Strong Economy make Washington DC metro area the fourth most popular metro region in which to live.
We trail only New York, L.A. and Chicago.

*Our population is expected to increase by 8.5% by the year 2010.
*Our median household income 2005 was $72,799.
*Our median housing price $424,700, less than N.Y., L.A, and Chicago.
*Our unempolyment rate is 3.4%, below the national average.
Learn more about what makes this area a strong and great place to live!
Greater Washington Initiative

Average Sales Price Up in July

Despite the increase of homes on the market, the average sales price is up from last year 3.05%. Average sales price in Northern VA was $544,470 from $528,363
NVAR Stats