CLOSE IT! House of the Week: A Corner Condo in Georgetown

We made our way over to the other side of DC to view a Georgetown penthouse with major curb appeal. This corner condo can’t be missed because of its yellow exterior and castle-like structure. It has an opened floor plan with light hardwood floors, high ceilings, and plantation shutters that give the unit much charm. It also has two large bedrooms and one in a half baths with a soaking tub. The gourmet kitchen is roomy and includes stainless steel appliances, perfect for an aspiring chef. The unit is the largest in the building and has a private rooftop deck to enjoy those home cooked meals while overlooking the city. The property is listed for $775,000.

Assuming a homebuyer puts down 20 percent, their cash-to-close would be $175,494 and monthly mortgage payments would be approximately $2,241. However, for a complete picture of what your cash-to-close figures would be, including seller’s net proceeds from the sale and such, view the Close It! Web version or download the free Close It! iOS app

Feel free to tell your agent that you want to use Federal Title & Escrow Company for settlement and save up to $750 on closing costs by ordering services online. Always remember, it’s your choice in selecting a settlement company when it’s time to close. Learn more here.  

CLOSE IT! House of the Week: A Home for the Holidays

The busy holidays are lurking around the corner. You may be considering an upgrade to a bigger home to entertain guests. If so, this stunning renovated-manor located within the community of 16th Street Heights, Washington D.C., may be the perfect fit to host family. The property has 6,300 square feet spanning over four levels with seven bedrooms, and six plus spa-like bathrooms. You will not have to worry about your in-laws invading your space either, because this residence comes with an in-law suite that has a separate entrance for privacy. The property also has a picture-perfect layout, from the front porch through an opened floor plan that flows with wood floors, recess lighting, and an elegant, yet modern kitchen that opens to a back deck. It comes with a finished basement and a two-car garage as well. The house is listed at $1,599,999.   

Assuming a homebuyer puts down 20 percent, their cash-to-close would be $360,852 and monthly mortgage payments would be approximately $4,780. However, for a complete picture of what your cash-to-close figures would be, including seller’s net proceeds from the sale and such, view the Close It! Web version or download the free Close It! iOS app

Feel free to tell your agent that you want to use Federal Title & Escrow Company for settlement and save up to $750 on closing costs by ordering services online. Always remember, it’s your choice in selecting a settlement company when it’s time to close. Learn more here.  

CLOSE IT! House of the Week: A High-Rise Available in Chinatown

Looking for a high-rise pad to make into a man or woman cave in the District? Well look no further because we have found the perfect condo at The Lafayette at Penn Quarter which lists for $465,000. This one-bedroom, one-bathroom spans over 700 square feet with granite kitchen counter tops and panoramic views from your bedroom balcony. You're also super close to the National Mall should you want to go for a jog or a bike ride while the sun is rising or setting overlooking historic views. Don’t forget, as of October 1, 2017, you could qualify for the DC First-Time Homebuyer Recordation Tax Reduction and Federal Title & Escrow Company will help you submit your application!   

Assuming a homebuyer puts down 20 percent, their cash-to-close would be $106,695 and monthly mortgage payments would be approximately $1,358. However, for a complete picture of what your cash-to-close figures would be, including seller’s net proceeds from the sale and such, view the Close It! Web version or download the free Close It! iOS app

Feel free to tell your real estate agent that you want to use Federal Title & Escrow Company for settlement and save up to $750 on closing costs by ordering services online. Always remember, it’s your choice in selecting a settlement company when it’s time to close. 

CLOSE IT! House of the Week: A family home located in the residences at Adam's Row

View this stunning townhome in Northeast, D.C., which lists for $575,000. The detached townhome has four bedrooms and three in a half bathrooms perfect for a family of four or five. It spans over 1,786 square feet and has four levels of living space to include a large master suite with a balcony, three additional spacious bedrooms perfect for children, modernized bathrooms, and a beautiful kitchen to enjoy Sunday family dinners. Plus a basement!

Assuming a homebuyer puts down five percent, their cash- to-close would be $45,148.02 and monthly mortgage payments would be approximately $2,348.95. However, for a complete picture of what your cash-to-close figures would be, including seller’s net proceeds from the sale and such, view the Close It! Web version or download the free Close It! iOS app

Feel free to tell your real estate agent that you want to use Federal Title & Escrow Company for settlement and save up to $750 on closing costs by ordering services online. Always remember, it’s your choice in selecting a settlement company when it’s time to close. 

DC First-Time Homebuyer Defined

A “first-time District homebuyer” is defined as an individual purchaser who has never owned eligible property as the individual’s principal residence.  D.C. Official Code § 42-1101(16).  The term also includes an individual who has divorced or separated and who, by a written settlement agreement or court order, did not obtain an ownership interest in a principal residence that had previously been jointly owned.  In order for a deed to qualify for the reduced rate, each grantee named in the deed must be a first-time District homebuyer.

As a first-time District homebuyer, in order to qualify for the recordation tax reduction, the household income must not exceed the following thresholds:

 

Persons in Household 

Household Income Limits

1. $139,140

2. $158,940

3. $178,740

4. $198,540

5. $214,560

6. $230,400

7. $246,240

8. $262,080

 Obtain a quick quote here now! 

  • Ways to save at closing

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  • What are closing costs?

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  • What's title insurance?

    Insure your legal ownership just like you'd insure the building, but for lots cheaper.

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