Wes Wolfe - Intercoastal Mortgage Company

Wes Wolfe - Intercoastal Mortgage Company


Good times at the Loudoun Times-Mirror 40 under 40 event last night. Congrats to Dr. Kelly Lincoln on her nomination.

Intercoastal Mortgage Company offers a complete menu of options from conventional to VA and FHA loans; jumbo and super jumbo loans; construction and renovation loans and bridge loans. We also originate Second money trusts and HELOC.

I believe that purchasing a new home is the biggest and most important financial investment a person can make. I want to make sure each loan I work on is completely customized to my clients. I enjoy helping my clients find what they need in a home loan and solve each problem with confidence and ease of mind. I can help you streamline the process and get you closed very efficiently. I am Licensed in Virginia, Maryland, DC, North Carolina and Florida. Contact me at anytime.

Benefits of refinancing into a 15 year loan:

1. Build equity faster
2. Become debt-free sooner
3. Pay less interest over the life of your loan
4. Pay off your loan sooner (within 18-years as long as you don't refinance again)

However, one set back of refinancing is that your monthly payments will increase. So, definitely make sure to evaluate your finances and even consult a professional before refinancing.

#refinancing #15year #mortgage #loans #intercoastal #ICM #intercoastalmortgage #monthlypayment #benefits

Thank you for your kind words Teresa and Benjamin. It was a pleasure to work with you.

#thankyou #ICM #intercoastal #review

Mortgage rates have been historically low, and they are projected remain low through 2020. These low rates also means that getting a loan, especially a 15-year refinance loan, is very affordable. Refinancing not only means that you'll pay off your home sooner but you'll pay less in interest over the life of your loan.

#refinance #low #mortgagerates #mortgage #intercoastal #ICM #15year #intercoastalmortgage #monthlypayments

Do something nice for the ones you love today. Happy Valentines Day❤️

#valentinesday #ICM #intercoastalmortgage


4 Things to Know Before Buying Owner’s Title Insurance - Clark Howard

If your still not sure if you should purchase Owners Title Insurance, read these 4 additional tips from Clark.com

#title #tips #home #homeownership #ownership #owner #lender #insurance #protection #iCM #intercoastal #intercoastalmortgage

clark.com When you're buying or refinancing a home, many people balk at the idea of owner's title insurance. But skipping this policy is dangerous for your finances!

When you purchase your new home, you will automatically receive the homes title which declares your ownership of the home. Although this is something that you will already acquire, you may be wondering if you should purchase Owners Title Insurance. This insurance places you as the policyholder and beneficiary of any claims. It is a one time payment of $850 that will be processed at closing; however, the value does depend on the value of the property, the insurer your receiving coverage from, and where your home is located. Owners title insurance will cover fraud, omitted heirs, unknown liens, and mistakes in the public record.

Also keep in mind that while Owners Title Insurance is optional, Lenders tile insurance is required.

#insurance #lender #mortgage #homes #title #titleinsurance #coverage #oans #intercoastal #ICM #intercoastalmortgage


How the Mortgage Interest Deduction Change May Affect You

If you feel that the new interest tax changes affect you or want to anticipate how much interest will be deducted. Check out this easy Interest Deduction Calculator!

#interest #deductions #calculator #loans #mortgage #taxes #taxseason #filling #Loanofficer #intercoastal #ICM #intercoastalmortgage

nerdwallet.com The tax plan that passed Congress makes key changes to a very popular deduction. If you plan on getting a mortgage soon, here's what to know.

Happy Lunar New Year everyone! Enjoy the food and festivities!

#chinesenewyear #lunarnewyear #lunar #new #year #newyear #holiday #homes #festival #ICM #intercoastalmortgage #2020

In 2018, the federal government made changes to tax laws which affect mortgage tax deductions as well as other homeowner costs. When doing your taxes, if you chose to take the standard deduction route then your deductions will be one lump sum. However if you decide to do an itemized deduction, different costs, interest, and insurance may or may not be deductible.

Mortgage points, Mortgage interest, and mortgage insurance are tax deductible. Homeowners Insurance and home improvements are NOT eligible for tax deductions. The following are tax deductible, but have restrictions:

1) Closing Costs - can only deduct certain costs i.e. mortgage origination fees (doesn't include third party fees, home appraisal, title search, and home inspection), sales tax, and real estate taxes

2) Refinance Costs - can only deduct mortgage insurance and mortgage points

3) Property Tax - up to $10,000 in property taxes. Cannot itemize expenses that aren't taxes

4) Home Equity Loans - Only available for money borrowed on home improvements

5) Home Office - Only spaces dedicated to your business. Also based on square footage that your work space occupies.

#taxes #deduction #mortgage #loans #home #insurance #points #interest #filing #intercoastal #ICM #intercoastalmortgage

Refinance with a VA loan -
An even better option is to refinance with a VA loan. Millions of veterans, as well as anyone on active duty and those in the National Guard and reserve units, are eligible.

With the Department of Veterans Affairs standing behind these loans, they're also less risky for lenders.That means you can have a lower credit score and less home equity than you'd need for a conventional loan and, in some cases, a higher debt-to-income ratio.

Indeed, you can have no equity and qualify for a new mortgage, and there's never any mortgage insurance required with a VA loan.

#Refinancing #HomeLoan #Refinance #Mortgage

Refinance with a conventional loan:
Property values have increased in most parts of the country, boosting the amount of equity homeowners hold.

The more equity you have — the difference between the balance on your current mortgage and your home's current market value — the easier it is to refinance.

Borrowers with good credit and 20% equity can qualify for a conventional loan, which is the most common, and usually the cheapest, way to go for most borrowers.

#Refinancing #HomeLoan #Refinance #Mortgage

Last week, The Federal Reserve decided to lower rates which is generally good news for homeowners because it indicates that interest rates will likely stay in the very low ranges they’re at right now or they could continue to go lower.

This is great news for people looking to buy or refinance a home because rates are at some of the lowest points we’ve seen in years!

Do you qualify for a refinance? Let's get in touch!

#Refinancing #HomeLoan #Refinance #Mortgage


Mortgage rates sink to their lowest levels in 21 months after six weeks of declines

Mortgage rates are below 4%. The 30-year fixed rate fell for the sixth week in a row and hasn't been this low since September 2017!

With mortgage rates so low, now is the time to refinance! If you're interested in a FREE mortgage analysis, let's talk!

Email: [email protected]
Office: 703-342-4633

#MortgageRates #Refinance #LoanOfficer

washingtonpost.com The 30-year fixed-rate average hasn't been this low since September 2017.

The Wolfe Pack would like to wish you a safe and fantastic Memorial Day weekend! #MemorialDay2019


Why You Should Sell Your Home in 2019

Few people are predicting that 2019 will be a record-breaking year for home prices.

But relatively speaking, 2019 might be the best time for you to put your house on the market. Especially if you’re on the fence about selling this year or next, Nick Ron, CEO of House Buyers of America, recommends going with the devil you know rather than the devil you don’t.

#SpringMarket #MarketUpdate #RealEstate #Mortgage

realestate.usnews.com Housing markets may not be as hot as previous years, but selling now could be your best bet.


Real estate: 3 challenges facing first-time homebuyers this spring

As a first time homebuyer - what can you expect going into the busy season?

Check out: Real estate: 3 challenges facing first-time homebuyers this spring

#SpringMarket #MarketUpdate #RealEstate #Mortgage

usatoday.com Challenges for first-time homebuyers this spring include prices, and availability of homes and mortgages.


Tips to sell your home fast in a crowded spring market | WTOP

In some industries, the start of summer signals long weekends and relaxed deadlines. But in the real estate world, business doesn’t slow down when the warm weather hits — that’s when things start to heat up.

With April, May and June being the hot months to buy and sell...here is what you need to know!

#SpringMarket #MarketUpdate #RealEstate #Mortgage

wtop.com If you have plans to list a property this season, or are thinking of doing so in the future, two real estate experts share some tips to make the selling process go a little smoother.


Housing market continues cooldown

Market Update: After accelerating at a steady clip for several years, home-price growth has slowed this spring as the housing market continues to cool down.

#SpringMarket #MarketUpdate #RealEstate #Mortgage

housingwire.com After accelerating at a steady clip for several years, home-price growth has slowed this spring as the housing market continues to cool down. Home prices increased just 3.7% year over year in March, according to the latest data from CoreLogic, increasing by just 1% from the month before. And, data s...


VA Certificate of Eligibility - Information | Zillow

Let's talk the Certificate of Eligibility!

Current or past members of the U.S. military can finance up to 100 percent of their home purchase with a VA loan that has no mortgage insurance or prepayment penalties.

This is done with a document called the Certificate of Eligibility (COE). The VA requires that all lenders making VA-backed loans include this in their loan approval process. The fastest way to get your COE is through a lender.

#Veteran #VALoan #Mortgage #COE #Loan

zillow.com VA Certificate of Eligibility (COE) are backed by the U.S. Department of Veteran's Affairs and made by local mortgage lenders throughout the country.

Congrats to my BFFs on there new place. We are so happy for you guys! @cheathhc @jkess1851 #justinlooksliketheloanofficer #wolfepack #mortgages #rates

So what are the benefits to a VA loan?

Let's check them out!

#VALoans #Veteran #VA #Mortgage #Loan #Military


Eligibility - VA Home Loans

Who Is Eligible for VA Loans?

VA loans are designed for military personnel, veterans, and military families. Here is a list of those that are on that list:

- Veterans
- Active-duty personnel
- Reserve members
- National Guard members
- Some surviving spouses

Unsure if you qualify? Check out the VA website!

benefits.va.gov Eligibility page for the VA Loan Guaranty Service

Did you know that there are three types of VA Loans?

- Purchase Loans
- Interest Rate Reduction Refinance Loans (or IRRRL, also referred to as a VA streamline refinance loan)
- Cash-Out Refinance Loans

Let's talk to see which works for you!

#VALoans #Veteran #VA #Mortgage #Loan #Military

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. While the VA does not lend money for VA loans, it backs loans made by private lenders to veterans, active military personnel, and military spouses who qualify.

#VALoans #Veteran #VA #Mortgage #Loan #Military


FHA Mortgage Insurance: What You Need to Know

Mortgage Insurance...do you need it with an FHA loan? The answer is yes!

Let's dive into it a bit more.

#FHA #FHALoan #Mortgage #Loan #MortgageLoan

nerdwallet.com If an FHA loan is ideal for you, the mortgage insurance premium is something you’re likely going to have to live with for the life of the loan. The FHA requires mortgage insurance for all loans, which comes with an annual premium and upfront premium.

Getting updates on what’s new at the monthly Loan Officer Meeting at Intercoastal Mortgage Company!


FHA Loan Requirements for 2019

FHA loan requirements are published in a handbook more than 1,000 pages long. You would need to drink at least a 20-ounce cup of coffee with a turbo shot just to stay awake through the first 20 pages. Good news: You don’t have to do that, because NerdWallet summarizes the rules for you.

Here’s what you need to know about the requirements to get a Federal Housing Administration loan, without the jargon and footnotes — about topics such as debt-to-income ratios, loan limits and credit scores.Check it out!

#FHA #FHALoan #MortgageLoan #Mortgage #Loan

nerdwallet.com FHA loans include low rates and low down payments, but you'll need to meet FHA loan requirements for credit score, property appraisal and more.

Let's talk FHA! An FHA loan is a mortgage that’s insured by the Federal Housing Administration (FHA). They are popular especially among first time home buyers because they allow down payments of 3.5% for lower credit scores. However, borrowers must pay mortgage insurance premiums, which protects the lender if a borrower defaults.

#FHA #FHALoan #Mortgage #Loan #MortgageLoan


Fannie Mae low down payment mortgage requires just 3 percent down

Let's talk conventional loans and down payment options!

#DownPayment #Conventional #Loan #Mortgage

themortgagereports.com A low down payment mortgage option is available to today's home buyers. The 97 percent LTV program can be used to refinance, too. Q&A plus access to live rate quotes.

What about down payments on VA loans?

These are perhaps the biggest advantages to a VA loan. You don’t need a down payment. None whatsoever. Most mortgage programs, such as FHA and conventional loans, require at least 3.5 percent to five percent down.That’s up to $12,500 on a $250,000 home purchase.

With a VA loan, you can buy immediately, rather than years of saving for a down payment.

via: va.gov

#DownPayment #VALoan #Mortgage #Loan


FHA Down Payment Requirements 2019: The Definitive Guide – FHAHandbook.com

Let's talk down payment for FHA loans: Borrowers who use an FHA-insured mortgage loan to buy a house in 2019 must put down at least 3.5% of the purchase price or the appraised value of the home (whichever amount is less). That is the minimum requirement in 2019, according to HUD Handbook 4000.1.

Additionally, borrowers must have a credit score of 580 or higher to qualify for the 3.5% down payment option mentioned above.

#DownPayment #FHA #FHALoan #Mortgage #Loan

fhahandbook.com FHA Down Payment Requirements 2019: The Definitive Guide By Brandon Cornett | © 2019, all rights reserved | Duplication prohibited Find out if you're eligible for an FHA loan. LendingTree.com FHA down payment requirements at a glance: Borrowers who use an FHA-insured mortgage loan to buy a house in...

What is a down payment?

#DownPayment #Payment #Mortgage #Loan


How Much Down Payment Do You Need to Buy a Home?

While everyone loves a 20% down payment, many first-time buyers put down much less. Let's spend this week talking down payments!

#DownPayment #Payment #Mortgage #Loan

nerdwallet.com What is the right down payment amount for you? 20% down payments are recommended but government-backed programs require much less. We help you decide what down payment percentage is right for you and how much you'll need.

If you get a USDA loan, the program is similar to the FHA, but typically cheaper. You’ll pay for the insurance both at closing and as part of your monthly payment.

If you get a VA loan, the VA guarantee replaces mortgage insurance, and functions similarly. With VA loans, which are loans intended to help service-members, veterans, and their families, there is no monthly mortgage insurance premium. However, you will pay an upfront “funding fee.”

#MortgageInsurance #Mortgage #Insurance #Loan #VA #USDA

Let's talk about MI in relation to an FHA Loan. If you get a Federal Housing Administration (FHA) loan, your mortgage insurance premiums are paid to the Federal Housing Administration (FHA). FHA mortgage insurance is required for all FHA loans. It costs the same no matter your credit score, with only a slight increase in price for down payments less than five percent. FHA mortgage insurance includes both an upfront cost, paid as part of your closing costs, and a monthly cost, included in your monthly payment.

#MortgageInsurance #Mortgage #Insurance #FHA #Loan

There are several different kinds of loans available to borrowers with low down payments. Depending on what kind of loan you get, you’ll pay for mortgage insurance in different ways:

If you get a conventional loan, your lender may arrange for mortgage insurance with a private company. Private mortgage insurance (PMI) rates vary by down payment amount and credit score but are generally cheaper than FHA rates for borrowers with good credit. Most private mortgage insurance is paid monthly, with little or no initial payment required at closing.

#Mortgage #Insurance #MortgageInsurance #Loan

Typically, borrowers making a down payment of less than 20 percent of the purchase price of the home will need to pay for mortgage insurance. Mortgage insurance also is typically required on FHA and USDA loans. Mortgage insurance lowers the risk to the lender of making a loan to you, so you can qualify for a loan that you might not otherwise be able to get. But, it increases the cost of your loan. If you are required to pay mortgage insurance, it will be included in your total monthly payment that you make to your lender, your costs at closing, or both.

#Mortgage #MortgageInsurance #Insurance #Loan

The Next Generation of House Hunting

Looking for a new home? Did you know that your name and contact information are sold when you register with public search sites like Zillow and Trulia?

Search Safe! Check out the PRIVATE Home Scouting app from HBM2 and keep your contact information to yourself!

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