The time has come and you are ready to buy, but before you start searching for your next home review this checklist. This list helps you prepare your budget in advance and guide you to financial success in the future.
1. Reduce Debt & Increase Credit Score: Before you start looking for your next home you should request a credit report. This will give you a starting point on understanding your credit score before you request a loan. Your credit score will influence the interest rate of your loan.
2. Save Money to Set Yourself Up with a Large Down Payment: While it is possible to purchase a home without a 20% down payment it’s best to get as close as possible. This will allow you to have a smaller mortgage rate, Avoid PMI, and receive a better rate. If you do not have a 20% down payment you may qualify for a VA or FHA loan.
As you begin the process to find your next home checking these items off your list will provide you with a more successful home buying experience. Our team is here to help you! Let us know the area and/or neighborhood you are looking to live along with your top needs our team of professionals will assist with finding your next home.
Manor view ranch – 4 bed 1.5 bath brick ranch with detached garage. Large fenced back yard with covered deck. Nice living room with hardwood floors. Dining room open to kitchen. Huge family room or 4th br.
Nice 3bed 2bath home in Simonsdale with big open living/dining space. 1st floor laundry & full bath. Kitchen with appliances included. Large master with private full bath, jetted tub, tile shower. Covered front porch and side deck. Fenced back yard. Dual zone central HVAC and new water heater.
The HomeTown Program provides financial assistance to qualified households who wish to purchase a home within Portsmouth City limits and who, without this assistance, could not do so. This program brings together the resources of the City of Portsmouth and Citizens Bank, N.A. to help eligible families overcome the financial barriers to homeownership. The program is administered by the Portsmouth Community Development Department.
At the time an applicant submits an application to Citizens Bank, N.A., the applicant, if eligible, will be invited to submit a HomeTown Application and Agreement. Community Development staff will review the applicant’s Application with a Citizens Bank, N.A. loan officer to determine whether you the applicant is eligible for participation in the HomeTown Program.
The level of HomeTown program assistance available to you is determined after first mortgage financing is pre-approved. A pre-approval letter will be issued by Citizens Bank, N.A. outlining the mortgage program for which you have been approved, the mortgage amount for which you qualify, your potential monthly repayment obligation and the amount of HomeTown financial assistance to be provided. Below is a description of the HomeTown financial assistance that may be offered.
• First mortgage financing is available at a fixed interest rate for a 30-year term through a Citizens Bank, N.A. Mortgage Program. The Citizens Bank, N.A. loan officer will help you determine which first mortgage financing option best suits your situation.
• Down payment assistance is available through HomeTown in the form of a deferred loan at 0% interest secured by a second mortgage on the home purchased.
• Additional down payment assistance, if necessary, is available in the form of a “sleeper” 3rd mortgage loan at 0% interest through HomeTown. This loan is due upon sale of the property. The amount of assistance offered to you is based on your income and assets. The chart on the following page identifies the maximum amount of assistance available to households in different income brackets. The HomeTown Program reserves the right to adjust the income guidelines and other eligibility requirements as warranted.
A HomeTown staff person will contact all individuals and families who purchased homes through the HomeTown Program within six months of their closing date. The goal of this effort will be to help you, as a new homeowner, address financial or home maintenance issues that may have arisen since your home purchase.
Inquire about this program by calling 757-466-1009
OOPS! We already SOLD this one!
All Brick Cape Cod In Merrimac Point!
Property Details for 105 Porter RD, Portsmouth, VA 23707
Charming 4 bed 2 bath all brick Cape Cod in Merrimac Point. Lovely modern kitchen. Cozy living room with fireplace. Hardwood floors. Screened in porch. Large fenced backyard with detached shed. A must see!
Fireplace Wood; Flooring: Carpet, Ceramic, Wood
220 V Elec, Dryer Hookup, Elec Range, Refrigerator, Washer Hookup
Property Details for 3304 Carney Farm LN, Portsmouth, VA 23703
Beautifully Renovated & Updated with brand new everything! WOW Custom Kitchen with all appliances included! Pre-Inspected and Certified Move-In Ready! Home features 3 bedrooms each with own full bath including first floor bed & bath. Open living, dining and kitchen. Separate living room/family room. The en-suite Master has big tiled shower and unique walk-in closet (seriously, it’s like a whole other room!) This home is situated off Carney Farm Lane down a private driveway on almost an acre of land. Covered porches, stone walk way, mud room, attached garage, and fenced lot. Call today for a personal tour!
SORRY! We SOLD This One already!
New Truxton Contruction With Open Floor Plan!
Property Details for 3225 Armistead DR, Portsmouth, VA 23704
Beautiful 3 bedroom 2.5 bathroom new construction with the bell & whistles to be finished May 30, 2018. Open floor plan with, master bedroom with master bathroom & large walk in closet. Don’t miss out on this new gem! close to shipyard and interstate. Similar to pictures listed.
Sorry! This one is gone already!
Renovated Brick Ranch On Corner Lot!
Property Details for 5209 Peake LN, Portsmouth, VA 23703
Nicely renovated Brick Ranch style home on large corner lot in sought after neighborhood; close to interstates, bases, and shipyards; Over 1800 sq ft with three bedrooms, two full baths, including a master bedroom with bath, formal living & dining rooms, spacious family room with fireplace and built ins, two car rear loading attached garage and three season porch for your outdoor enjoyment.
Sorry! We SOLD this one already!
New Construction House With Extra Desirable Features!
Property Details for 2616 Markham ST, Portsmouth, VA 23707
Quality new construction with 3 bedroom 2.5 full bathroom with modern open floor plan. Features to include granite countertops, laminate wood flooring, stainless steel appliances, 42 inch cabinets and custom crown molding throughout. Master bedroom with vaulted ceiling/ led lighting. Large laundry room with storage space, nice deck with lots of yard space. Feature include granite counters, custom tile, laminate flooring, new Hvac, cabinets, ceiling fans and stainless stain appliances. Picture is of similar home. Close to shipyard, Old Towne, N.O.B, Naval hospital, and tunnels.