How Too Finance A Single Family Home in Manassas Virginia

How Too Finance A Single Family Home in Manassas Virginia


Effective June 15, 2012 VHDA started a pilot program that will help get financing on a single family home in Manassas a little more affordable. The pilot program is called VHDA Fannie Mae No MI. It is a 30 year fixed rate loan with no MI (mortgage insurance).


VHDA stands for Virginia Housing Development Authority. VHDA is a self-supporting, not-for-profit organization created by the Commonwealth of Virginia in 1972, to help Virginians attain quality, affordable housing.VHDA NO MI Program
This affordable financing program is not just for first time buyers. It’s available to move up buyers and for limited cash out refinancing for those who live in Manassas Virginia. VHDA is a state run program that is available through out the state. The VHDA NO MI program can be use to finance a single family home, townhouse or approved condo.
To be eligible for VHDA Fannie Mae No MI financing you need the following:

  • A loan amount of less than $417,000
  • Credit score of 660 or higher
  • Max income of $120,900 (2 or fewer people in household) or $140,000 (3 or more in household)
  • 3% Down payment or gift money


On a $174,600 loan amount you could save $90. per month and $900 in closing using the Fannie Mae No MI Pilot program verses the standard FHA loan. This based on the example in the graph. APR may vary based on lender fees


During the pilot program this loan is only available from participation lenders. VHDA does requires you take free home ownership classes with a qualified VHDA trainer.

Looking for information on real estate in Prince William County, Manassas or Manassas Park check out www.PrinceWilliamCountyHomeInfo.com

Whether you are a first time buyer or an experienced investor, you will find useful information about how to choose the "right" property, making an offer, negotiating, financing, mortgage rates, moving, and everything involved in making an informed real estate decision in today´s market.

"Your One Stop Shop for Real Estate Information!"

Susan Jacobs
703-347-4418
Associate Broker

Re/Max Gateway

Home4Sale@mris.com

www.PrinceWilliamHomeInfo.com

Search Homes For Sale

https://www.facebook.com/SusanJacobsTeam/TWITTERRSS FEEDYOU TUBERe/Max Gateway

Comment balloon 0 commentsSusan Jacobs • July 02 2012 03:39PM
How Too Finance A Single Family Home in Manassas Virginia
share
How Too Finance A Single Family Home in Manassas Virginia Effective June 15, 2012 VHDA started a pilot program that will help get financing on a single family home in Manassas a little more affordable. The pilot program is called VHDA Fannie… more
Prince William Chamber 3rd Annual YPNOVA Putt Putt Scramble
share
Prince William Chamber 3rd Annual YPNOVA Putt Putt Scramble Members of the Prince William Chamber of Commerce came together for the third year to support the YPNOVA ( Young Professionals of Northern Virginia) Putt Putt Scramble. Hosted by… more
Bristow Real Estate Market Report - May 2012
share
Bristow Real Estate Market Report - May 2012 Bristow Virginia has turned into a huge PUD (Planned Urban Development). It boarders the area's of Nokesville, Haymarket, Gainesville and Manassas. Bristow was once farm land that consisted of non… more
Nokesville Real Estate Market May 2012
share
Nokesville Real Estate Market May 2012 Nokesville Virginia is located in the western end of Prince William County where 1-10 acre+ lots is the norm. In 1989 the Prince William County Board of Supervisors adopted a Comprehensive Plan that, for… more
Real Estate Market Update for May 2012 Prince William County
share
Real Estate Market Update May 2012 for Prince William County, Manassas City & Manassas Park There are currently 1, 203 homes actively available for sale in Prince William County. This is a slight increase over the last few months and a good… more
Pizza Is In The Oven
share
Pizza is in the oven. That’s right, this three level custom Colonial home that sits on a private 38 acre cul-da-sac lot has a custom built Pizza Oven. Just smell that sauce as you relax on the two level deck or the beautiful custom patio. &… more
April 2012 Real Estate Market Update for Bristow, VA 20136
share
April 2012 Real Estate Market Update for Bristow, VA 20136 The spring market is in full force with buyers coming out of the woodwork. The sellers who have their home on the market are reaping the benefit's. This year there are 25% fewer homes… more
Real Estate Market Update for Bristow, VA 20136
share
Real Estate Market Update for Bristow, VA 20136 The median sold price for homes in the Bristow area in the month of March was $380, 000, that is a 7. 8% increase month over month and a 18. 5% increase year over year. Despite the low inventory… more
Real Estate Market Update March 2012
share
Real Estate Market Update March 2012 for Prince William County, Manassas City & Manassas Park Manassas City medium sold price in the month of March is $220, 000, this is a 37. 5% increase over last year. Prince William County showed a 20%… more
Prince William Real Estate New Castle Village Bristow Virginia 20136
share
Prince William Real Estate New Castle Village Bristow Virginia 20136 New Castle Village is like a lot of neighborhoods. It has an advertised subdivision name, in this case "New Castle Village" an a recorded name for the county… more