Dwayne & Maryanne Moyers



Search The Moyers Team Website

The Moyers Team, Northern Virginia Residential Real Estate Agents

Maryanne Moyers, Managing Broker
Weichert Realtors

Cell: 540-379-7359
Office: 703-897-4777
e-mail: maryanne.moyers@gmail.com

Dwayne Moyers, Realtor

Weichert Realtors

Cell: 540-446-6284
Office: 540-720-7263
e-mail: MoyersTeam@gmail.com

Follow Us on Facebook

30 year mortgages

2014 Housing Forecast and Mortgage Rule Changes

2014 Housing Forecast and Mortgage Rule Changes

We’ve studied several housing forecasts from industry economists. The predictions from Capital Economics fall in line with our assessment of what’s ahead in 2014. The sharp climb in home prices in 2013 will slow this year as investors begin to slow the rate of home purchases from 2013. Other factors impacting home sales in the coming year include higher mortgage rates, more expensive home prices, and increasing available housing inventory created by fewer underwater homeowners and very active national and regional builders meeting housing demands throughout Northern Virginia.

Qualified mortgage borrowers attempting to buy a owner-occupied home in 2014 will find the process easier than 2013 when investors actively competed for limited inventory with all cash offers. The increasing inventory should also limit the number of competing offers and contracts requiring escalation clauses during the bidding process. Below are a list of considerations… Continue reading

Virginia FHA Mortgage Insurance Premiums

If you’re beginning the process of buying your next home, it’s time to get moving if you’re considering a FHA loan. The Federal Housing Administration has recently announced increases for FHA Annual Mortgage Insurance Premiums (MIP), and Upfront Mortgage Insurance Premiums (UFMIP).

But FHA insured loans are now popular because guidelines require a minimum credit score of 580 with a minimum down payment of 3.5% of the sales price. According to the FHA, loans have increased from 4.5% in 2005 to 40% of housing purchases in 2010. This has appears to be the catalyst for raising the MIP for FHA loans for the fourth time in 2 years. The latest changes involving both MIP and UFMIP are as follows: The Federal Housing Administration has made these adjustments to encourage the return of private investment into the residential mortgage market. Increasing MIP has become necessary to secure the FHA… Continue reading