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Home Buying in Culpeper County : Real Estate Advice

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Activity 5
Mon Apr 1, 2013
Cindy Jones answered:
You need to have your agent talk to the listing agent regarding the specific lender procedures for the property you were interested in. Some lenders require a property to be on the market for a certain number of days before they will review offers. Others give preference for owner occupants over investors. But for the most part lenders care about one thing....the bottom line! ... more
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Mon Feb 4, 2013
Claudine- Dream Girls answered:
I am a short sale Expert. Please find all the info you need at

Claudine Ellis, CDPE, SFR
Keller Williams Realty
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Fri Jun 22, 2012
Paula Lorentzen answered:
Yes, all the major subdivisions have natural gas heating (Highpoint, Pelhams Reach, Lakeview, Redwood Lakes, Meadows, Meadow Grove, Northridge,etc.) as well as most if not many town residences. Not many areas in the country have natural gas unless they are in close proximity to the pipeline. (ie Norman Rd past Mt. Run Lake Rd). Call Columbia Gas at 800-843-8911 if you are looking at a specific address or tax map number. ... more
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Mon Oct 26, 2009
Dennis Smith answered:
Home buyers turn to USDA for mortgages

Stricter loan underwriting standards and cash-strapped borrowers have led to an increase in the number of borrowers applying for a home loan offered by the U.S. Dept. of Agriculture (USDA). The program, “Rural Development Guaranteed Loan” was designed to boost homeownership in rural areas, but some home buyers, even in non-rural areas, are qualifying.


· The USDA program insured $7 billion in loans during the 2008 fiscal year, an increase from $3.6 billion the previous year. In Scottsdale, Ariz., the program has accounted for 40 to 50 percent of home sales in October and November.

· Eligibility is based on a number of factors, including the borrower’s income and the population of the city where the home is located. Borrowers’ income must not exceed 115 percent of the median county income, and the loans are restricted to areas with lower population density–generally towns with no more than 25,000 residents.

· Unlike most mortgage loans offered by private lenders, the Rural Development Guaranteed Loan program does not require borrowers to issue a down payment. Loans made through the USDA program are made by private lenders, then insured by the government and sold to Ginnie Mae. A 2 percent USDA insurance fee also is added to the loan--which can be as much as 100 percent of the home’s value--to cover loan losses. Monthly payments usually are lower on USDA loans, because they do not require borrowers to pay for monthly mortgage insurance.

· Despite some lawmakers’ concerns that borrowers should not be allowed to receive loans for 100 percent or more of the home’s value (including the USDA insurance fee), an administrator with the USDA says the concerns are unwarranted. According to Philip Stetson, the USDA administrator, rural areas are less prone to big increases in home prices, so the program is less susceptible to large-scale losses. The default rate on USDA loans is 11.35 percent, compared with a 13.6 percent delinquency rate for FHA-backed loans.

To read the full story, please click here:

Here is the official site for more details:
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Tue Oct 30, 2012
Debt Free Dave answered:
No. Hard Money loans are not available anymore....
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