(703)765-0300

Category: Article

Home » Real Estate » Article » Page 10

How you can Creatively Finance your Arlington Home

Check for local, state, and national down payment assistance programs.

You don't have to kill yourself saving every penny for your dream home in Arlington. You can simply check to see if you qualify for a loan or grant in either of these local, state and national down payment assistance programs. With these programs, you may be able to cover all or part of the required down payment for your home in Arlington. National programs include the Nehemiah program, Getdownpayment.com, and the American Dream Down Payment Fund from the Department of Housing and Urban Development.

Consider seller financing.

There are cases when the sellers may be willing to finance all or part of the purchase price of your Arlington home and let you repay them gradually, just like you would do with a mortgage. Another similar option is the assumable mortgage. In this case, you as the Arlington home buyer takes over the seller’s existing loan (with bank approval). This option is especially helpful when the interest rates are on the rise.

Ask help from your family.

You don't have to do this alone. By involving your family in your decision to own a home in Arlington, a family member may loan you money for the down payment or act as a cosigner for the mortgage. Lenders will often ask for a cosigner if you have a minimal credit history.

Through shared-appreciation or shared-equity arrangement.

This is another creative way to finance your home in Arlington. Under this agreement, your family, friends, or even another third party can buy a portion of the Arlington home as an investment.  When you eventually sell the Arlington home, they will share in any appreciation gained. You, as the Arlington owner-occupant, will, however, be responsible for paying the mortgage, property taxes, and maintenance costs, though all the investors' names will be on the mortgage.

Lease the Arlington home with the option to buy.

If you still don't have enough money for the downpayment of your dream home in Arlington, you can opt to rent the home for a year or more. This will give you enough time to save more toward your down payment for your home in Arlington. And in many cases, the owners will apply some of the rental amounts toward the purchase price.

Consider a short-term second mortgage.

If you qualify for a short-term second mortgage, you can take it to make a larger down payment for your home in Arlington. This may be possible if you have a good financial standing with a strong income and little debt. Arrangements like these may also help you avoid jumbo loan restrictions and/or minimize the amount of private mortgage insurance you have to pay for your home in Arlington.

Properties in

$address
See Homes in Ballston
Explore homes in Ballston
$address
See Homes in Fairlington
Explore homes in Fairlington
$address
See Homes in Crystal City
Explore homes in Crystal City

The Historic Alexandria City

 
City view of Alexandria, Virginia, USA
Alexandria is located south of Washington, along the Potomac River. Alexandria city occupies 116 square miles, 30 feet above sea level. Alexandria was for much of its history a port city. Alexandria averages about 30 feet above sea level. Alexandria was established in 1749. Alexandria has a rich colonial history It has the most important brands in the country. Alexandria is also the birthplace of George Washington, Robert E. Lee, Jim Morrison and mom, Cass Elliot. The historic old town of Alexandria is a great center of art and culture, with local shops, beautiful restaurants, and colonial architecture and overlooking cobblestone streets. Alexandria was a Top Artplace 2013. Cultural events widely occur in galleries such as the famous Torpedo Factory Art Center databases, MetroStage, and the legendary Birchmere Music Hall. Money magazine named Alexandria the #1 Best Value U.S. Travel Destination in 2018. Condé Nast Traveler Readers' Choice Awards recognized Alexandria as a Top 5 Best Small City in the U.S. 2018. Alexandria was one of the South’s Prettiest Cities 2018 as reported by Southern Living. Being a high economic area, Alexandria has a report of major employers whose employees are estimated at 14.07% of the total city. These major employers include United States Department of Commerce, United States Department of Defense, Alexandria City Public Schools, City of Alexandria, Washington Metropolitan Area Transit Authority, Northern Virginia Community College, United States Department of Agriculture, United States Department of Homeland Security. The city of Alexandria received the highest certification for 'Virginia Municipal League’s Go Green' Government challenge in 2017. Alexandria also has an award as the #1 Best Value US travel Destination. A total of 103 schools in Virginia are among the best in the United States to rank among the best high schools in the United States in 2018. The high school in Virginia on this list was Thomas Jefferson High School for Science and Technology in Alexandria. The National Historic District, founded in 1749, the old town of Alexandria houses more than 200 restaurants and independent boutiques, as well as intimate history museums and new events on the coast, making it an ideal starting point for your vacation and an unforgettable vacation.   I

Properties in

$address
See Homes in Old Town
Explore homes in Old Town
$address
See Homes in New Alexandria
Explore homes in New Alexandria
$address
See Homes in Carlyle District
Explore homes in Carlyle District

Canadian Home Buyers Investing in U.S. Real Estate in Alexandria

According to a recent report from the National Association of REALTORS®, a considerable rise in sales dollar volume from Canadian home buyers caused foreign investment in U.S. real estate to increase in 2016. Even though China was in the top spot for sales volumes for the fourth year in a row, Canada saw the largest increase from $11.2 billion in 2015 to $19 billion in 2016 – an all-time high for the country. This rise is attributed to U.S. property prices; while still expensive, it is more affordable than Canadian real estate. Continue reading

Selling a Home in Alexandria? Consider Staging!

Most home sellers know the importance of keeping their house clean and clutter free while it is on the market, but sometimes, taking a few extra steps can make all the difference. That is where staging comes in. According to a report from the National Association of REALTORS®, 62 percent of seller’s agents say that staging a home will decrease the amount of time it spends on the market. Buyers also need to be able to picture themselves living in a house, and 77 percent of buyer’s agents say that staging makes it easier for buyers to visualize a house as their future home. Continue reading

Making the Most of a Small Home’s Storage in Alexandria

When it comes to small houses in Alexandria, every square inch of space is valuable and there are plenty of underused nooks and crannies that, with a little creativity, can be transformed into useful storage spaces. For example, installing pullout drawers under stairs can add about two square feet of storage per drawer and is the perfect way to store towels, linens and seasonal items. Utilizing ceiling space in closets can also add up to 12 square feet of extra storage: suspend two pieces of wire across a closet ceiling and use it to cradle wrapping paper, which will be out of sight but easy to reach. Continue reading