The FHA recently announced a program entitled Homeowners Armed With Knowledge (H.A.W.K.). H.A.W.K. is a housing counseling program created to increase access to credit for first-time homebuyers who are often underserved.
Consumers who participate in housing counseling get individualized, objective advice on understanding the rights and responsibilities of homeownership, addressing credit and savings barriers, and meeting their overall housing and financial goals.
-U.S. Dept. of Housing and Urban Development
Studies have shown that Housing Counseling participants have a 29% lower delinquency rate. The launch of this program is a step towards the official integration of housing counseling into the home buying process. Loansafe.org – Free Online Mortgage Assistance organization detailed the benefits of the program—
For participating in the program, FHA will give borrowers who qualify a 50 basis point reduction in the upfront mortgage insurance (MI) premium and a 10 basis point reduction in the annual premium at the time of loan origination. Eligible borrowers will have to be to first-time homebuyers who also complete the HUD approved housing counseling program. In addition, mortgages that remain in good standing will also receive further fee reductions, which could add up to thousands of dollars in savings over the life of their loan.
Buying a home is one of the greatest investments you’ll make in your lifetime; being armed with knowledge will be your greatest asset. We here at The Dragas Companies make it a point to keep you informed and aware so that you too can be a confident, responsible homeowner.
Hadley Park at Greenbrier features 92 luxury villas, two fountain ponds, and a neighborhood pool, all framed by lush landscaping.
This charming new neighborhood is the happy medium between privacy and close-to-it-all convenience. With dining, entertainment, and family parks just moments away there will never be a shortage of things to do.
Hadley Park at Greenbrier- It’s a natural.
dragas.com | (757) 410-0087
Posted in Hadley Park at Greenbrier, Homeowner Tips, New Communities, Tip of the Day
Tagged Dragas Luxury Villas, Dragas Realty, Hadley Park at Greenbrier, New Condos Hampton Roads, New Condos in Chesapeake, New Homes Chesapeake, New Homes Greenbrier, The Dragas Companies, The Grove
DOWNSTAIRS for breakfast, UPSTAIRS to get dressed, DOWNSTAIRS to throw clothes in the Washer, UPSTAIRS to put away clothes from the Dryer, back DOWNSTAIRS to hop in the car and start running your Saturday errands…Whew!
We all love exercise, but has the “Upstairs-Downstairs Workout” taken its toll on you? It’s time for you to experience the convenience of one-level-living at the King’s Pointe Flats at Western Branch.
In King’s Pointe Flats, everything you need is on one level– Kitchen. Bedrooms. Laundry Room. Everything.
CALL – VISIT – EXPLORE
Models Open Daily 11a-6p Sunday 12p-6p
Posted in Homeowner Tips, Kings Pointe at Western Branch, New Communities, Tip of the Day
Tagged Dragas Realty, King's Pointe, King's Pointe at Western Branch, King's Pointe Flats, New Condos Hampton Roads, New Condos in Chesapeake, New Condos Western Branch, New Homes Chesapeake, The Dragas Companies
You’ve seen the 10-foot signs, tractors, diggers, and massive acreage of land on the corner of Salem Rd. and Lynnhaven Pkwy., all preparing Hampton Roads for the arrival of the premier community – Spence Crossing at Princess Anne.
Spence Crossing will feature luxury villas, town homes, and single-family houses all with numerous floor plans and amenities.
Crofton will be the first community to open at Spence. 160 luxury villas, with high-end detailing and spacious 2-and-3 bedroom floor plans. Presales start in a few weeks!
Want to stay in the know about Spence Crossing at Princess Anne? Take 45 seconds to submit an Interest Requests on dragas.com.
Depending on their credit history and other factors, many borrowers can expect to make a down payment of about 5 or 10 percent.” -Christina Boyle- Freddie Mac VP and Head of Single-Family Sales & Relationship Management
The KCM Crew recently reported that according to a recent survey by Zelman & Associates, over 50% of people between the ages of 25 and 34 believe that in order to purchase a home they will need a minimum down payment of 20% of the total price. The thought of paying that much, upfront, out-of-pocket, is intimidating to some. Countless potential home buyers have avoided purchasing a home out of fear that the down payment would be more than they could afford.
Don’t be so quick to give up on your dream of homeownership! You can own a home. It is within reach. Homeownership can be a reality for you. There’s a growing trend in the housing market in which buyers are paying down payments of 10% or less. Conventional mortgages combined with favorable credit history, grants, and loans, have helped numerous people further reduce down payments. FHA loans offer down payments as low as 3.5% of the purchase price, and qualified VA buyers may not need a down payment at all. There are several options available for buyers looking for a low down payment option when purchasing a new home.
We have several new home communities throughout Virginia Beach and Chesapeake that would love to welcome you home, often for less than you may be paying in rent! Contact Dragas Mortgage Company today to start the process.
There’s something about our open spacious floor plans that is relaxing. No cramped quarters here, just living larger for less than you’d expect. To find out more about living at Spence Crossing, please visit rentatspence.com/livelarger
13,397 homes were sold yesterday. 13,397 homes were sold today. 13,397 homes will sell tomorrow. 13,397 homes will see the day after that. 13,397 homes…okay, you get the drift.
So what are you waiting for to sell your home? According to Keeping Current Matters (KCM), approximately 13,397 homes are sold each day. Don’t let the fear of not being able to sell your home, keep you from putting it on the market. With the construction of new Dragas Communities in Hampton Roads on the rise, there has never been a better time to become part of the “13,397 Statistic”.
Find your home today at dragas.com.
Home prices, inventory of homes, and sales have all increased. A 4.9% increase in home sales is a positive sign of the times; showing that many people in the market for a home are actually able to become homeowners. Currently about 13,400 homes are sold a day. With home prices on the rise that figure is in jeopardy. If you’re thinking about homeownership now is the time to take the first step.
Choose the Dragas Community that best fits your needs at dragas.com. Then contact the Dragas Mortgage Company to start the process of owning your dream home.
LISTEN UP REALTORS! Are you interested in getting a 1% BONUS on an EASY-SELL?
Do you have a client in the market for a charming condo in a private community? Are they looking for a 2 bedroom home with split or one-level living? King’s Pointe at Western Branch is the answer.
This new community is conveniently located just off I-664 and is just moments away from the shopping, dining, and entertainment of Chesapeake Square. Bring your client to their dream home. Models Open Daily.
Speak to a Sales Agent Today (757) 606-2999 | Check out more specs on dragas.com.
Interested in a Dragas Community but reside out of state? No problem! The experts at Realtor have compiled a quick checklist to help you make the process less intimidating.
Know your Timeline
Your first step to buy a home in another state should be figuring out a timeline for purchasing the property.
Obtain a Loan
Start by getting pre-qualified for a mortgage.
Do your Research
You can also research information on housing, population, crime, entertainment and more online. The more research you do, the more you’ll know before you buy a home in another state.
Tour Homes Virtually
Online listings usually include several photos or videos showing you every aspect of the house
Understand the Closing Process
Organize the paperwork , Secure insurance coverage , Get a final approval on a mortgage
The Dragas Companies will assist you in setting up a homebuying timeline. You can start by checking out our new communities on Dragas.com. Or even taking a virtual tour on our YouTube channel. After selecting the home you’re interested in contact the Dragas Mortgage Company to start the loan process. We will guide you every step of the way to make you feel at ease about your out-of-state home purchase.
Recently economists, real estate professionals and market strategists, were asked to project the average home value appreciation over the next twelve month period; they predicted a whopping 4% increase in home values. The experts at Freddie Mac are singing a similar tune with the expectation that mortgage interest rates for 30-year fixed mortgages will ascend to 4.8% by June 2015.
What does this mean for you? Buy Now. Save More. Buy Later. Spend More.
Dragas has several new communities to choose from, pick your home today – dragas.com
Posted in Hadley Park at Greenbrier, Homeowner Tips, Kings Pointe at Western Branch, New Communities, The Apartments at Spence Crossing, Tip of the Day
Tagged Dragas Realty, Hadley Park at Greenbrier, King's Pointe at Western Branch, new condominium chesapeake, New Condominium Communities, New Condos Virginia Beach, The Dragas Companies
Why do so many Millenials hesitate when it comes to homeownership? The answer may surprise you. According to Normura, an asset management company explains the trend -
“Analysts say it’s not that Millennials and other potential homebuyers aren’t qualified in terms of their credit scores or in how much they have saved for their down payment. It’s that they think they’re not qualified or they think that they don’t have a big enough down payment.”
Sound familiar? Well, according to Freddie Mac‘s VP, Christian Boyle,
“More than one in five borrowers who took out conforming, conventional mortgages in 2014 put down 10 percent or less.”
This could be a reality for you too! We here at The Dragas Companies want to encourage all first-time homebuyers to not let fear keep them from The American Dream of homeownership. Contact the Dragas Mortgage Company today to see if you qualify. You may just be surprised.
Be sure to visit dragas.com to choose your home.
We will be closed on Friday, July 4, to observe Independence Day.
Happy Independence Day from The Dragas Companies.
Hotdogs, Burgers, Ribs. Yes, summer is here! As a resident of The Apartments at Spence Crossing, the ingredients for a memorable summer weekend are right in your backyard. The grilling station, kitchen cabana, and turquoise-blue pool are waiting for you. Yes, you!
Ready to make memories? Check out rentatspence.com OR CALL (757) 471-2004
The new Dragas community, King’s Pointe at Western Branch, boasts five different floor plans, ALL STARTING IN THE 100s!
Pictured above is a King’s Pointe Quad, these split-level homes are equipped with either two or three bedrooms and two-and-a-half baths. With easy access to grills, an outside kitchen, and a neighborhood clubhouse, what’s not to love?
Head over to dragas.com to learn more about this Chesapeake community.
Schedule a tour today (757) 606-2999
The above Infographic depicts four different age groups’ attitudes towards Real Estate investments. Individuals ages 18-29 tend to shy away from real estate investments. On the other side of the spectrum are men and women (ages 30-49) believing that real estate is a worthwhile investment.
There was once a time where all ages agreed that stocks, mutual funds, and gold were the greatest investments. Fast-forward to 2014, and the tune has changed as people learn how much their property can increase in value over the years.
Ready to invest? The Dragas Companies has several new communities for you to choose from. King’s Pointe at Western Branch and the soon to open Spence Crossing at Princess Anne offer spacious living in Hampton Roads. Visit dragas.com for more information.
This summer you could be living in a brand new home of your own and enjoying all the pleasures and privileges that come with it, including your own private neighborhood pool. Thinking about homeownership? There’s never been a better time to jump into King’s Pointe at Western Branch.
Eager to dive in? Swim over to The Dragas Companies website, dragas.com today.
Posted in Dragas Mortgage Company, Homeowner Tips, Kings Pointe at Western Branch, New Communities, Tip of the Day
Tagged Dragas Realty, King's Pointe at Western Branch, new condominium chesapeake, New Condominium Communities, New Homes in Hampton Roads, New homes Western Branch, The Dragas Companies
“Housing may never again be as affordable as it is right now”
-John Maxfield, The Motley Fool
Over the course of the past three years mortgage rates have reached exceptional lows. In November of 2011, 30-Year Fixed Rate Mortgage Rates bottomed out at 3.4%. The rates have since increased, and will probably continue to do so. Now is the time to take the plunge into homeownership. The chart below depicts the spike, subsequent decline, and slow ascension in mortgage rates.
Don’t be intimidated! According to the Housing Affordability Index 170.3% of typical families can qualify for a conventional loan on a median-priced single-family home.
You could be part of the 170.3%; start the process today by contacting Dragas Mortgage. Curious to see what The Dragas Companies has to offer? Head over to dragas.com to see our communities.
Soon you can own an affordable luxury villa in a beautiful and private new community in Chesapeake.
- 2 and 3 bedroom homes with a choice of spacious floor plans
- Luxurious downstairs master suite
- Open, airy living and dining rooms
- Designer kitchens
- Energy efficient appliances
- Minutes from Greenbrier shopping, dining and golf
Go LIKE the official “THE DRAGAS COMPANIES” Facebook page to get an inside look on your dream home being built.
Call (757) 410-0087 to reserve your luxury villa today.
Bottom Line: Real Estate is a good longterm investment. No need to be gun-shy about purchasing your home. The real estate market has had more ups than downs over the course of the past 30 years. Now is a good time to take the first step, dragas.com.
Is the thought of filling out a mountain of paperwork keeping you from buying your dream home? According to the experts at Keeping Current Matters, extensive mortgage loan applications are a deterrent for many potential homeowners.
The KCM article Getting a Mortgage: Why SO MUCH Paperwork revealed that mortgage loan paperwork increased significantly over the past seven years due to the run-up in the housing market. Recently, the government imposed sanctions to inhibit banks from qualifying people for mortgages that they couldn’t pay back.
BOTTOM LINE: Less foreclosures and short sales AND an increased likelihood of you getting a mortgage interest rate below 5%.
At The Dragas Companies, we have streamlined our process by using our affiliated mortgage company to make the process as painless as possible. Contact us and see the Dragas difference. dragasmortgage.com