Charlottesville Real Estate Photo Blog

Charlottesville Real Estate FHA Financing Changes

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Larry Saunders
“Making Home Loans Easy”

 

 
I thought it would be good to update you with the latest information about changes coming soon to FHA financing.  FHA financing is currently being used for a 25% of home loans so it is a very important home finance program that enables people to purchase homes with as little as 3.5% down. 

Currently, the most commonly used form of FHA financing is 30 year, fixed rate for 96.5% of the purchase price which requires an Up-Front Mortgage Insurance Premium (UFMIP) of 2.25% and an annual Monthly Insurance Premium (MIP) of 0.55% per year.  Effective for all new FHA loans starting on October 4, the UFMIP will be reduced to 1% of the mortgage amount (Yea!).  However, the monthly MIP will be increased to 0.85%-0.90% annually.

The net effect of these changes is that the monthly payment for an FHA borrower will increase starting October 4.  Using a $250,000 home purchase, the monthly
payments for a borrower will increase by about $54 per month when these changes go into effect.  If you are working with a FHA borrower, it would be beneficial for them to get their desired home under contract prior to the fast approaching
October 4 deadline.

Have any questions about home loans?  Call anytime.

Larry Saunders
Mortgage Loan Officer
Mahone Mortgage, LLC
Office:  (434) 293-5200
larrys@mindspring.com

Posted via email from Charlottesville Real Estate

Categories: Charlottesville Photos

Charlottesville after the Storm

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Your Charlottesville real estate resource captures the essence of yesterday’s storm that affected so many Charlottesville homes. Straight line winds in the storm were believed to be hurricane force and downed dozens of trees and powerlines.

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Categories: Charlottesville Photos

Charlottesville Real Estate – 5310 Havenwood Lane Photos

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Live in the tranquility of this verdant setting just 30 minutes from Charlottesville. Unbend’s green building design was penned by architect Jeff Sties and includes radiant floor heat; salvaged stone fireplace; siding harvested on-site; recycled glass tile accents; passive solar; ‘endless’ indoor swimming pool; copper roof on the main house; and a whole house generator. To reproduce this extraordinary offering would cost much more. ADA accessible. Situated on 21 acres of hardwood forest. You can live and work from this peaceful and private location – high speed DSL is available.

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Categories: Charlottesville Photos

Ivy Virginia Home – Hideaway – Building Site – 439 James Lane

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Your Charlottesville real estate resource presents more photos of this special and unique Ivy property.

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565 Lego Drive – Ashcroft – Charlottesville Home

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As Charlottesville real estate goes, this Ashcroft home is a superb value and is only 10 minutes from downtown and 5 minutes from the Martha Jefferson Hospital and I64, yet is a world away in a peaceful, mountain-top setting with views. After purchasing, the owners invested more than $150,000 and added nearly 2,000 SF of premium finished space including a climate controlled wine cellar with brick floor, granite wet bar, bedroom with custom built-ins, full bath, billiard room with custom built-in bookcases and drawers, and copious amounts of walk-in closet space. You can live in this home as 4 bedrooms and a study/office or as 5 bedrooms. The first floor master makes the home versatile and easy. Ashcroft is a wonderful neighborhood. Neighborhood amenities include walking trails, clubhouse, pools, tennis court, and playing fields. Check out some photos of this Charlottesville home for sale.

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Categories: Charlottesville Photos

Reba McIntire at Home in Charlottesville

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Reba graces the stage in Charlottesville.

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Categories: Charlottesville Photos

Charlottesville Easter Egg Hunt

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Kids gathering for this year’s Charlottesville Easter egg hunt at Charlottesville high school. It’s a perfect day!

Sent from my HTC Touch Pro2 U.S. Cellular® Windows® phone.

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Categories: Charlottesville Photos

Tye River along side Crabtree Falls Campground

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While showing Crabtree Falls Campground took this pic of Tye River which flows along border of property.

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Categories: Charlottesville Photos

Albemarle & Charlottesville Estates

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Spent a good bit of the day visiting with clients the Charlottesville estate homes of Turkey Run in Albemarle County today. On the way back, we drove through some of the area’s most prestigious farms and estates, including Albemarle House (pictured) which is listed for sale for $48M (reduced from $100M) – some of Albemarle County’s most picturesque real estate.

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Friday Charlottesville Estate Home Tour

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My clients and I had a great time on yesterday’s Charlottesville real estate tour and finished up around 7:30pm.  Here’s what’s on tap for this afternoon.

 

$1,585,000   MLS #: 472482

Beds: 4

Full Baths : 3

Half Baths : 1

4258 Millington rd
FREE UNION (ALBEMARLE), VA 22940


$1,450,000   MLS #: 473482

Beds: 3

Full Baths : 2

7047 Plank rd (albemarle)
CHARLOTTESVILLE (ALBEMARLE), VA 22903


$1,100,000   MLS #: 466605

Beds: 4

Full Baths : 3

Half Baths : 1

3078 Burnt mill rd (albemarle)
CHARLOTTESVILLE (ALBEMARLE), VA 22911


$975,000   MLS #: 474878

Beds: 4

Full Baths : 2

Half Baths : 2

3626 Blufton mill rd
FREE UNION (ALBEMARLE), VA 22940


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Categories: Charlottesville Photos



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