Category Archives: Real Estate Mortgage Information

What’s the difference between VA, FHA, and Conventional Loans?

What’s the difference between VA, FHA, and Conventional Loans?

What’s the difference between VA, FHA, and Conventional Loans? The differences between VA, FHA, and Conventional loans are based on two things: the borrower’s down payment and qualifications, and the condition of the property. VA loans are zero down, but are only available to veterans or active duty military personnel and their families. Do note… Continue Reading

Update on the SunTrust Doctor Loan – Now for Dentists, too!

Update on the SunTrust Doctor Loan – Now for Dentists, too!

SunTrust Doctor Loan One of the most frequently asked questions about SunTrust’s Doctor Loan is “can Dentists use it, too?” Well, the answer to that question used to be “no” but that has just changed and Doctors of Dental Medicine – Dental Surgeons, Orthodontists and General Dentists (DMD/DDS) are now eligible for the SunTrust Doctor… Continue Reading

Suntrust’s Innovative Doctor Loan for Physicians, Residents, Interns

Suntrust’s Innovative Doctor Loan for Physicians, Residents, Interns

We once had a client who was a new doctor, just starting his career in Alexandria, VA. With students loans to pay off and not a lot of cash on hand, he first contacted us about renting a townhouse in a sought after neighborhood. Unfortunately, rental inventory at the time was extremely low and he… Continue Reading

New FHA Guidelines Effective 4/1/13

New FHA Guidelines Effective 4/1/13

Heads up!  If you considering buying an Alexandria VA home with FHA backed financing, there are some significant changes on the immediate horizon. Effective for all FHA Loans with Case numbers issued AFTER 4/1/13 – and affecting all traditional 3.5% down FHA purchases: Monthly PMI (private mortgage insurance) will now be set at 135 BPS;… Continue Reading

Don’t Let Mom & Dad Torpedo Your Mortgage

Now that I have your attention, let’s talk about how things that look like GOOD things can cause a major headache for you in your mortgage process. I had a client once whose most generous parents decided to surprise him with a very large deposit into his checking account as a “house warming gift.” Aaarrgghh!!… Continue Reading

Mortgage Q&A – Everything You Need to Know About Mortgages

Have mortgage questions? We have answers! And if the answers you need are not answered below, then don’t hesitate to contact Sam Atapour at PROSPERITY MORTGAGE. He will be more than happy to answer your questions. He can be reached at (703) 980-5443 or sam.atapour@prosperitymortgage.com. How do I get qualified for a mortgage? It is… Continue Reading