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May 10, 2011


No longer on the sidelines...

As a first time home buyer who finally came off of the sidelines and just bought a single family home in Loudoun, I didn't find it hard at all to get a loan. If you have respectable credit and a good debt-to-income ratio, you'll be able to choose almost any lender you want. We went with a FHA loan and bought a very nice single family home for almost 30% less than what that same home sold for just 3.5 years ago. Having rented in Loudoun for the last 5 years I honestly think it is good that prices have started to come back to reality. In fact, I know several people who have also recently (or are in the process of) buying their homes in Loudoun and none have them have had issues getting a mortgage. In the "bubble" years if you had a pulse you could qualify for almost any amount of money you wanted. Those days are big part of what caused the bubble in real-estate, and I think it is a good thing that lenders are starting to go back to a more 'traditional' way of lending.

Daniel Williams

You may think it is impossible to get home loans after foreclosure and/or bankruptcy, and those two big financial pitfalls can indeed be difficult to climb out of. USAForeclose.com


good thing you posted the stats in loudon about real estate.

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  • Tony Arko - RealtorĀ®/Broker-Owner - Complete Home - Loudoun County, Virginia
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