Close It!™ House of the Week: A Chevy Chase charmer with so much character

This week we're taking a look at a nearly century-old home that's had much of its original character preserved by the current owner/architect. It's listed at $949,900.

Exposed wood beams on the ceilings along with the refinished original hardwood floor and a large utility sink preserve the sense of country farm kitchen from a simpler time, while high end kitchen appliances make modern, gourmet cooking a breeze. The house also has a large back yard for entertaining as well as a front porch and patio for relaxing during the warmer months. 

Assuming a homebuyer puts down 20 percent on a conventional loan, her cash to close number will be approximately $217,188.81. Monthly payments will then be around $4,216.39 per month. For a complete picture of the cash to close, or for a run-down of the seller's side of the deal, plug the numbers into the Web version of Close It™ or download the free iOS app.

Close It!™ House of the Week: A one-bedroom with lots of living space

For this week's pick, we're headed to the DC side of Chevy Chase to tour a sunny one-bedroom coop with tree views and a fireplace in the living room. It's listed at $279,000.

At 820 square feet, this one-bedroom is on the bigger side. Another plus is the kitchen comes with a gas stove. The kitchen and bathroom have been recently updated, and the bedroom has a large window and two large closets.   

Assuming a homebuyer puts down 20 percent on a conventional loan, her cash to close number will be approximately $65,487.69. Monthly payments will then be around $1,826.91 per month, including the $644 HOA fee. For a complete picture of the cash to close, or for a run-down of the seller's side of the deal, plug the numbers into the Web version of Close It™ or download the free iOS app.

Close It™ House of the Week: Charming stone front colonial

This week we head over to the Village of Martin's Additions in Chevy Chase, MD to run the numbers on a charming stone front colonial house with 4 bedrooms and 2.5 bathrooms.

This house is located on a quiet street within walking distance of the Brookville Market and the Friendship Heights metro stop. The house has a fireplace and 9-foot ceilings as well as a renovated kitchen and comes with a homeowner's warranty.

Assuming a homebuyer puts down 20 percent on a conventional loan, her cash to close number will be approximately $211,912.43. The monthly payments would then be around $4,588.20 per month. For a complete picture of the cash to close, or for a run-down of the seller's side of the deal, plug the numbers into the Web version of Close It™ or download the free iOS app.

Maximum VA loan county limits for 2014 released

The Department of Veterans Affairs Loan Guaranty Program recently published county "limits" to be used for VA Loans effective January 1, 2014.

Please note, these limits do not reflect a maximum amount that an eligible veteran is permitted to borrow, but rather, reflects the VA’s maximum guaranty amount for a particular county.

The maximum VA guaranty amount for loans over $144,000 is twenty-five (25%) percent of the 2014 VA limit. For example, an eligible veteran may borrow up to $692,500 to purchase a property in Washington, DC (2014 VA limit), with the VA guaranteeing twenty-five percent (25%) of the loan amount, or approximately $173,125.00. These amounts have decreased dramatically in most area of the DC Metro Area compared to the 2013 VA limits.

The limits listed below are for some counties in Maryland and Virginia, as well as for the District of Columbia. To get a complete list of the county limits for 2014, please click here. [Please note, if your county is not listed on the county limits chart on the VA website, the 2014 limit is $417,000.]

State County 2014 VA Limit
DC District of Columbia $692,500
MD Anne Arundel $500,000
MD Frederick $692,500
MD Howard $500,000
MD Montgomery $692,500
MD Prince George's $692,500
VA Alexandria $692,500
VA Arlington $692,500
VA Fairfax $692,500
VA Falls Church $692,500
VA Fauquier $692,500
VA Loudoun $692,500
VA Manassas $692,500
VA Prince William $692,500

Fannie Mae, Freddie Mac conforming loan limits for 2014 released

The Federal Housing Finance Agency (FHFA) published today the maximum conforming loan limits, which is the ceiling on loans eligible for backing by Fannie Mae and Freddie Mac.

The limits listed below are for some counties in Maryland and Virginia, as well as for the District of Columbia. To get a complete list of the county limits for 2014, please click here.

State County 2014 Conforming Loan Limit
DC District of Columbia $625,500
MD Anne Arundel $494,500
MD Frederick $625,500
MD Howard $494,500
MD Montgomery $625,500
MD Prince George's $625,500
VA Alexandria $625,500
VA Arlington $625,500
VA Fairfax $625,500
VA Falls Church $625,500
VA Fauquier $625,500
VA Loudoun $625,500
VA Manassas $625,500
VA Prince William $625,500
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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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