Buying a Reston, VA home for the first time can be exciting, but also challenging. With prices on the rise, you might be hard pressed to find the right kind of loan you can take for buying a new house. But Fairfax Mortgage Investments can help you with that.
As a Northern Virginia broker, we are committed to helping you find a loan that works for you. From programs to grants, we help you pick out the ones that best suit your needs for your loan package. You can guarantee that the loan you pick will save you a lot of money for when you buy your house.
Contact this Northern Virginia mortgage broker is the way to go! We guarantee that we will walk you through the process as you find the right loan for your Reston, VA home buying needs.
Top Reston, VA First Time Home Buyer Loan Programs
Reston FHA Loans
These loans have lower interest rates and smaller down payments than most loans. Not only that, but they are insured by the Federal Housing Administration, which means it protects lenders from losing money in a loan. FHA loans are great for everyone, but especially for Reston, VA first time home buyers.
Reston USDA Loans
USDA loans are little known kinds of loans that are backed by the US Department of Agriculture. They offer low interest at a fixed rate and no down payment to those that qualify. These loans are for getting a home in a rural area in Reston, VA.
Reston VA Home Loans
VA loans offer those who qualify lower interest rates and no down payment or mortgage insurance. They are backed by the Department of Veterans Affairs for this to happen. VA home loans are available to military personnel.
Reston FHA Section 203(k)
FHA Section 203(k) allows the mortgage and the cost of renovations or repairs to be rolled into one. This allows the mortgage rate to be lowered and cost less overall. These loans work with other FHA loans.
First Time Home Buyer Loan Assistance in Reston, VA
At Fairfax Mortgage Investments, we show you the different kinds of programs and grants that you can choose from for your loan package. This process can take some time, about a month or more, but we will guide you through the process the entire way. Through credit rescoring and enhancement to program applications, we do the paperwork for you so you don’t have to worry about it.
How The First Time Home Buyer Loan Works for Reston, VA Residents
Beginning with the estimation of the cost for the desired Reston, VA home, the housing costs, and the closing costs, make a budget based on those factors. After that, find the right realtor in the area and prepare documentation for the first meeting, including pay stubs, bank account statements, W-2s, tax returns from the past two years, statements from current loans and credit lines, and the names and addresses of landlords from the past two years. Then we can help you out with the rest.