Virginia
Mortgage Rates;
The housing market in Virginia has been a sellers market over the past few years and it is now readjusting. This means it’s great time to buy property in Virginia – low interest rates, added value from sellers and a bigger choice of homes. There are more buyers entering the market and sellers are realizing that they need to be more realistic with their prices. In some cases, sellers are offering to pay closing costs for buyers. The market is now more stable and prices are more sustainable in the long term.
Demand is still strong and consumer confidence is picking up. This is definitely the time to take advantage and invest in property. Buyers need to be patient, take time to look at a lot of properties, and negotiate well when they have found the right property. A lot of buyers who have been waiting to enter the market over the past few years have decided that this is the right time to go ahead with their purchase.
Below are examples of rates being offered
For loans up to $417,000
30 Yr Fixed : rates from 5.25% to 6.25%
15 Yr Fixed : rates from 5.1% to 6%
1 Yr ARM : rates from 1.25% to 6.875%
3/1 ARM : rates from 5.125% to 6.5%
5/1 ARM : rates from 5.125% to 6.125%
For loans above $417,000
30 Yr Fixed Jumbo : rates from 5.75% to 6.5%
15 Yr Fixed Jumbo : rates from 5.5% to 6.25%
1 Yr ARM Jumbo : rates from 4.125% to 6.5%
3/1 ARM Jumbo : rates from 5.125% to 6.625%
5/1 ARM Jumbo : rates from 5.375% to 6.625%
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Looking for a mortgage in one of Virginia''s major cities? Click any of the cities below for more mortgage information.
Major Virginia Cities
Arlington
Bristol
Norfolk
Radford
Richmond
Virginia Beach
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