When considering buying a house, a Manassas, VA first time home buyer would be baffled by the amount of work needed to actually buy said house. There’s the amount of paperwork to consider, along with documentations to find in order to be cleared for buying the house. With all that work, it can be difficult to know where to even begin.
Have no fear, Fairfax Mortgage Investments is here to help! We will gladly do the paperwork needed to buy a house for you, along with helping you find the right loan for your home buying needs. Our team is dedicated to helping Manassas, VA first time home buyers like you to get the home of your dreams.
So contact this Northern Virginia broker today! We’ll make sure that the process goes through smoothly so you can get the home of your dreams.
Top Manassas, VA First Time Home Buyer Loan Programs
Manassas FHA Loans
FHA loans are insured by the Federal Housing Administration, which allows lenders to get some degree of protection should you default on a loan. They have small down payments and closing costs, along with competitive interest rates. These loans are very popular among Manassas, VA first time home buyers.
Manassas USDA Loans
USDA loans are loans that are backed by the US Department of Agriculture. They have low interest at a fixed rate and offer no down payment. USDA loans are available to Manassas, VA first time home buyers in rural areas.
Manassas VA Home Loans
VA home loans help veterans, soldiers, and their widows get a loan. Created by the US Department of Veterans Affairs, this loan makes sure to have no down payment and low interest rates, making it cheap to get. Military personnel will love this loan.
Manassas FHA Section 203(k)
FHA Section 203(k) states that anyone who buys a home that needs renovations is able to combine it into a single mortgage. This allows the costs to be much cheaper and can lower the mortgage rate. The minimum amount for repairs to take this type of loan is $5,000.
First Time Home Buyer Loan Assistance in Manassas, VA
There is so many things to consider when getting a loan, like programs, grants, and incentives. Fairfax Mortgage Investments is here to help you find the best kind of loan package that you can possibly afford. Though this process can take up to a month or more, we’ll be with you every step of the way.
How The First Time Home Buyer Loan Works for Manassas, VA Residents
The very first thing to do is to figure out housing costs, closing costs, and the cost of the new home and create a budget based on the numbers. Then, find a realtor and prepare to meet them with the proper documentation, like pay stubs, bank account statements, W-2s, tax returns, current loan statements, credit line statements, and the names and addresses of your previous landlords. We are then able to help you with the next steps.