Charlotte

Making Buying a Home a Reality with FHA Loans

Have you thought about buying a home, but think the possibility is just too far out of reach?

Do you think the only way you own your own home is with 20% down? If you have thought this, don't worry, many people have. In fact, there is a general misconception that owning a "piece of the American dream" is simply out of reach for many Americans. Not true! With an FHA loan, you too can qualify for the purchase of a home...now!

What is an FHA Loan?

FHA is the Federal Housing Administration, which is a member of HUD. Essentially, an FHA loan is a federally insured loan, so your local lender can offer you a great deal on a loan. There is minimal risk for the lender.

So what does this mean for me?

Well, first it means that you may qualify for a low down payment- 3.5% of the purchase price in fact! Also, most of your closing costs (attorney fees, mortgage origination fees, etc) can even be rolled into your loan, so you will need even LESS money at closing. This is one of the reasons that makes FHA loans so attractive to most home buyers with little cash on hand.

So What's the Catch?

Really- nothing in particular, however there are two specific things worth mentioning:

  • There are limits on the value of the home you can purchase. In Chittenden County of Vermont, for example the limit for a single family home is $318,750.
  • You will have to qualify for the loan, just like any other "traditional" loan out there. As long as you have had a steady job and a good credit score, you should have a good opportunity of qualifying for an FHA loan.

The fact is, the FHA program is a great program for people looking to purchase, although they may not have the typical 10-20% down payment available. You can qualify for a very low 3.5% down payment, and be in the home of your dreams earning equity instead of paying rent. For more information on the FHA program, visit: https://www.hud.gov/offices/hsg/fhahistory.cfm Contact Brad Dousevicz of Dousevicz Real Estate for more information, or to discuss your options- 802-238-9367

Finding Great Views from Vermont Real Estate

Vermont Mountain View Homes

A Spectacular view of the Adirondack Mountains

Hands down, Vermont's most notable resource is it's beautiful landscape. Whether you are driving on a country road in Essex, Shelburne or Charlotte, or visiting a beach on the shore of Lake Champlain in Burlington, Colchester, or South Hero-- it is undoubtedly the views that you first notice. It's one of the many things that makes Vermont special to us all, and we are so very fortunate to have such a landscape to enjoy day in and day out. Buyers frequently contact my office looking for a "piece" of their own landscape - something they can enjoy from perhaps their own front porch, bedroom window, or yard. After all, a house is only as good as the location for which it is placed, and in Vermont, great views can always be related to a great location.

So where are buyers going to find great views of Vermont?

I'll explore some of those areas today.

Downtown Burlington

In addition to being the vibrant epicenter of the State, Burlington offers some of the most fantastic views of Lake Champlain and the Adirondack mountains. As the marketing agent for the recently completed Westlake Condominiums in Downtown Burlington, I constantly met with buyers from all over the world and the feedback was always the same- the views from the building were perhaps the BEST they had EVER seen! Surely, the lake coupled with Burlington's beautiful waterfront park and the neighboring Adirondack Mountains all contribute to this unique view. There are a variety of properties that enjoy such views in downtown Burlington. The first that comes to mind are a few of the luxury condominium projects- Westlake and College and Battery, for example. You can also find views on select homes within the Hill Section as well.

Shelburne and Charlotte

If you are looking for a mix of country living, and perhaps the finest views in the state, then you'll find them in either Shelburne or Charlotte. Located a short drive from downtown Burlington, Shelburne and Charlotte are conveniently located destinations where you can find rolling country landscapes, and perhaps the finest lake front in Vermont along Lake Champlain.

Essex and South Burlington

View of Lake Champlain Vermont

A Spectacular view of the Adirondack Mountains

If you are looking for a property that is located a short distance from Burlington, but with easy accessibility to local shopping and other services, AND want a view, then look in South Burlington and Essex. The main "view corridors" for these areas are easy to find, but they sometimes go unnoticed by the general public looking for real estate with a view. For example, South Burlington has great Lake Front property off Shelburne Road, and wonderful mountain and lake views from Spear and Dorset Streets. Essex is a great country community that has some of the best Mountain views in the State. Try your search for land or homes near the Route 15 Corridor, specifically the areas near Old Stage Road, or Towers Road for example. You will find great views of Mt Mansfield (and easy accessibility to skiing) and a convenient location near local shopping, schools, and restaurants. Vermont is known for it's beautiful landscape, but it is important to know that you can find your own "piece" of the beautiful countryside in many properties throughout the greater Burlington area- you just need to know where to look!