Virginia Beach Home Loans

The latest reports from Virginia Beach say the market has turned in favor of the buyer, despite rising interest rates and climbing sales prices. The VA Association of Realtors shows housing prices have climbed from $212,700 at the beginning of the year to $239,900 in June. "The Virginia Beach housing market has readjusted and has gotten back to a stable steady market with more realistic sales pricing," says realtor Dee Maltese. "The 30 year fixed rate interest rates have calmed down and consumer confidence has started to build back up."

The confidence shows in increased home sales from the first to second quarter. Home sales climbed from more than 5600 in the first quarter to more than 7800 during the second. "Interest rates have slid back down to 6.375-6.625% for 30 year fixed rates," says realtor Chuck Evans. "So for the home buyer, this an excellent time to make a purchase while the interest rates remains in a favorable range."

The prime interest rate has climbed steadily since the first of the year until recently leveling off at 8.25% for three months in a row. "Our current market continues to slightly side with the buyer - sellers are offering closing cost assistance and other incentives to help entice the buyer to purchase their home," says realtor Chuck Evans. "Market times have increased to more than 30 days on average and seller's are learning to be patient and to make sure their home is in the best possible "show" condition.

Nationwide Mortgage Loans offers great interest rates home purchase, refinance and second mortgages for homeowners residing in Virginia who are looking to get cash out of their home. Our mortgage brokers offer free loan comparison quotes for fixed interest, as well as, adjustable rate home equity lines of credit that feature interest only payment options.

At this time, most people are taking out fixed rate second mortgages to refinance long term debt, like credit cards or variable rate loans that have recently experienced significant increases in interest rates and monthly payments. Most people are using the adjustable rate credit lines for short term financing for construction, and home improvement projects.

  • Second Mortgages for Credit Card Consolidation to 125%
  • Home Equity Credit Lines for Home Improvement and Construction
  • Home Mortgages for Buying 2nd Homes and Rental Units
  • 100% Home Financing with No Money Down!
  • Refinance your 1st and 2nd Mortgages together

 

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More Related Virginia Pages:
Virginia Mortgage | Virginia Second Mortgage | Virginia Mortgage Rates | VA Mortgage Refinance
Additional Helpful Mortgage Loan Pages:
Loan Specials | Adjustable Rate Refinance | Home Equity Refinance | Bad Credit Refinance | State Guide Second Mortgages | Home Loan Financing | Cheap Home Loans | Home Loans for Teachers | Bad Credit Mortgage | Texas Home Equity Loans | Why The FHA Home Loan Programs Are Safe | How Rising Home Mortgage Rates Could Affect The Housing Market | Will New FHA Mortgage Requirements Hinder Home Buying In 2014 | How Increased Mortgage Delinquencies Could Mean Higher Home Loan Rates | Mortgage Refinance Loans for Self Employed | How A Military Veteran Can Buy A Home With No Down Payment | FHA Rules For Gift Funds And Down Payments | How FHA Mortgages May Burden US Tax Payers | How FHA Financing Could Slow Housing Recovery | How to Know When to Refinance or Pre Pay Your Mortgage | Application for FHA Loan | Get Pre-Qualified for a FHA Mortgage | Down Payment Requirements on a FHA Loan | Pre-Approval Letter for a Home Loan with FHA | FHA Loan Qualification | CALHFA Down Payment Assistance for First Time Home Buyers in California | Mortgage Loans for First Time Home Buyers
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