Historic low interest rates for home loans and the great affordability of homes in the Fredericksburg area make NOW the time to make a home purchase. According to Brian Whetzel, Branch Manager for C&F Mortgage in Fredericksburg, “Our economist has determined that Spotsylvania and Stafford Counties now have the most affordable homes relative to resident’s incomes in all of Virginia.”
Whetzel, a Fredericksburg native and perennially one of the largest mortgage bankers in the region for over 20 years, feels many buyers can benefit from the VHDA (www.vhda.com
) loan program for first time homebuyers. “VA (Veterans Administration) buyers who qualify for VHDA financing can earn up to $112,950 for a family of 3 or more. These buyers may lock in a loan rate for up to 6 months for only $120. VA/VHDA loan rates are now (10/18/10) 0.375% lower than typical VA loans,” points out Whetzel. (To be eligible, VHDA buyers may not have owned a home for 3 years prior to closing on the new home purchase.) Whetzel also noted, “Mortgage rates are hovering in the 4% range for 30 year loans. Rates are at historic lows and are expected to remain that way through 2010.”
C&F Mortgage is the largest originator of VHDA loans in Virginia. Brian Whetzel is one of the top loan officers at C&F in helping customers obtain VHDA loans. For more information and to see if you are eligible, contact Brian Whetzel at bwhetzel@cfmortgagecorp.com.
Adam M. Fried
Chief Executive Officer
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