Mike Filan, Vice President / Senior Loan Officer at First Heritage Mortgage sent us this market update this week, November 2019:
This week the Federal Reserve cut the overnight lending rate to banks by 0.25% which lowers the Wall Street Prime Rate to 4.75%. The lowering of these short term rates should really benefit home owners with their variable rate home equity loans decreasing as well as auto loan rates and credit card rates as well. Currently mortgage rates are close to record lows so it is certainly a great time to buy your first home, move up to a larger home for a growing family or to downsize and lock in with historically low rates!
Expert Buyer Program
Listing experts are great for buyers. Our team offers home buyers professional representation. We are experts in:
- Local inventory
- What is coming on the market
- What has been pulled off the market
- How to successfully negotiate in a multiple contract environment-Listing agents want to work with our team.
- The best financing alternatives
- Getting the biggest bang for the buck for our clients
We give back up to* one point of the sales price toward buyer closing costs.
*some exclusions apply
New home buyers beware. New home builders are going to do two things. One, they will talk you out of using a realtor and two throw things by you like no appraisal contingencies. When buying a new home, having a realtor by your side is key! Your realtor can help you build an appraisal model, build a pricing model off tax records and secure a local lender/appraiser right away. The last thing you want is an unwelcome surprise the day of settlement that could cost you thousands of dollars.
Read all of our Home Buyer Tips for 2019 to remember as you enter the home buying season.
Coffee with Casey: How do I buy a Home? Aired Aug, 2017.
Special guests include our team’s lender, First Heritage Mortgage VP Mike Filan and Team members Pam Mooney, Billy Samson and Colby Smyth. Casey and the team discuss why you should talk to a lender, the home buying process, where the buyers are, rent versus buy, townhouse versus condo, how to analyze a contract and more!
Coffee with Casey: Home Buyer Strategies for 2019, Aired February 2019. Casey Samson, @firstheritagemortgage VP Mike Filan and Billy Samson had a great discussion on home buyer strategies for the upcoming spring real estate market. These include pre-approval, home inspections, contracts and bidding wars, how to select a realtor and what to look out for, our shadow inventory and more!
Ready to start the home buying process?
Buying a home can sound like something that is out of reach but many don’t know that there are programs available where you can get into a home with little or no money down! Through VHDA (Virginia Housing Development Authority) there are 100% financing programs available and even some 100% programs that have money to cover some or all of your closing costs as well. Explore your options, take advantage of the tax benefits and all of the wealth building opportunities that being a home owner provides. Whether you are a First Time Homebuyer looking for a home or a current homeowner looking to move on to their next property our preferred lender Mike Filan at First Heritage Mortgage has virtually every Residential loan program available. They process, underwrite and close their loans in house so that they can get your financing completed quickly and easily for you with excellent rates and terms. Please don’t hesitate to reach out with any questions or to run numbers on a property that you may be interested in. Mike is always happy to help!
Mike Filan, First Heritage Mortgage, Vice President, Senior Loan Officer
NMLS ID #659409
My primary goal, as your mortgage adviser, is to make the home buying process as simple and straight forward as possible. I love what I do and I am passionate about helping my clients with their financing strategy to achieve the “American Dream”.
I welcome the opportunity to serve your needs with quick and accurate real estate financing advice. With over 18 years’ experience in residential mortgage lending, I pride myself in taking the time to listen and to help my clients make the best decision for themselves and their families.
Read these useful articles from our blog:
“I speak for both my wife and I in saying that we had a phenomenal experience with The Casey Samson Team. Pam and Shayna couldn’t have been more accommodating and helpful. We have very little experience in home buying and they did a great job guiding us, letting us make our own decisions, and not being too suggestive. Once we found our home, the rest of the hectic process went as smooth as possible. The digital signing with dotloop made it very easy to get things done, and Garrett (Cardinal Title Group) did a great job with the closing and wet signatures. We asked many questions throughout the entire process and we got a good and timely answer every time. We would recommend The Casey Samson Team to anyone who is looking to buy a house. Thank you very much to the entire team!” Clients who sold in Fairfax, Virginia and bought in Aldie, Virginia