Call us at 571-334-7123
Call us at 571-334-7123
The planned community of Reston, VA, is home to over 60,000 people, offering a blend of urban amenities and access to nature. Home to major corporations and tech companies, Reston has a growing real estate market with a median home price hovering around $550,000. The city is highly desirable for professionals and families due to its proximity to the Dulles Technology Corridor and easy metro access to Washington, D.C. The main challenges for homebuyers in Reston include rising home prices and limited new development, making mortgage solutions in Reston, VA, crucial for prospective buyers.
We are committed to quality customer service - putting the people we serve first. Take advantage of our expertise in the residential lending industry by applying online today.
Here at Dominion First Mortgage Corporation, we have the right loan program for you. Whether you looking for Purchase, Refinance, or Specialized Loans in Reston, VA, we can do it!
A commercial loan differs from a residential mortgage in that the collateral used to secure a commercial loan is a commercial building or business real estate instead of a residential property. What’s more is commercial mortgages are generally assumed by a business entity instead of an individual borrower. As a result of this, assessing and securing a commercial mortgage is somewhat more complicated than a residential mortgage. A complex process involving many factors plays into determining creditworthiness for a business in Reston, VA.
At Dominion First Mortgage Corporation it’s our privilege to guide you through this new and exciting commercial loan process in Reston, VA. Two of the most important aspects of a commercial mortgage to keep in mind are interest rate and loan repayment schedule.
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A construction loan in Reston, VA is a specialized financial product designed to provide funding for the construction or renovation of a residential property. Unlike a traditional mortgage that provides a lump-sum payment for an existing home purchase, a construction loan provides financing in stages as the construction project progresses. Here's a closer look at the key features of construction loans in Reston, VA:
Conventional Loans in Reston, VA are mortgage loans that are not insured by the government (like FHA, VA, USDA Loans), but they typically meet the lending guidelines that have been set by Fannie Mae or Freddie Mac. Typically, conventional loans have better rates, terms and/or lower fees than other types of loans. However, conventional loans typically require a borrower to have good-to-excellent credit, reasonable amounts of monthly debt obligations, a down payment of 5-20% and reliable monthly income. Conventional loans are ideal for borrowers with excellent credit and at least a 5% down payment. Contact us for a competitive conventional loans or mortgage in Reston, VA
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Refinancing is an easy way to solve many of your mortgage worries. Getting a lower monthly rate and paying less over the life of your loan just makes sense. At Dominion First Mortgage Corporation we’re ready to find the right refinancing solution for you in Reston, VA. Our staff of refinance experts in Reston, VA will help you evaluate your mortgage needs and draft a refinancing plan that will save you money. Be sure to check out our mortgage refinance center to get the information you need so you can make a sound decision for you and your family.
Get StartedDo you have questions? We can help! You will find the answers to several frequently asked mortgage questions below.
The pre-approval process is much more complete than pre-qualification. For pre-qualification, the loan officer asks you a few questions and provides you with a pre-qual letter. Pre-approval includes all the steps of a full approval, except for the appraisal and title search. Pre-approval can put you in a better negotiating position, much like a cash buyer.
A rate lock is a contractual agreement between the lender and buyer. There are four components to a rate lock: loan program, interest rate, points, and the length of the lock.
A mortgage broker counsels you on the loans available from different wholesalers, takes your application, and usually processes the loan which involves putting together the complete file of information about your transaction including the credit report, appraisal, verification of your employment and assets, and so on. When the file is complete, but sometimes sooner, the lender "underwrites" the loan, which means deciding whether or not you are an acceptable risk.