Tag Archives: orange county virginia

West Virginia that shows what living in Orange County, VA looks like

Life in Orange County, VA

Orange County is one of Virginia’s most spectacular and desirable places to live, work, and play. This makes it a true hidden gem. Many of its industries are fueled by the abundant and diversified natural resources it possesses. These natural resources also inspire and cultivate many of the recreations and arts. Its illustrious past is widely displayed and cherished all around the county. Overall, there are numerous aspects of Orange County that appeal to residents and people considering relocating to the area. The peaceful way of life and friendly hometown feel – with its combination of modern conveniences, easy accessibility to work, health and public services, education, recreation, holiday destinations, and areas of interest – locally and nationally – is generally what people are drawn to. But before moving here, you should learn what life in Orange County, VA is really like.

The story of OC

Established in 1734, OC’s story is a very authentic American tale. Since it’s so rich in intellectual and agricultural gifts, its natives and immigrants have found a way to sow the seeds of sovereignty and innovation all the way from their niche in the Blue Ridge foothills. Life in Orange County had blossomed. It’s now a cradle of American patriotism. It has been so from the Revolutionary War to the Civil War and the creation of the Constitution. 

The sense of belonging in Orange County is incredible. It’s a community where the past is abundantly present, whether you’re strolling down tree-lined boulevards in the downtowns or visiting Montpelier to learn about America’s foundations.

Is Orange County a good place to live?

The question of whether living in Orange County will be a good experience for you or not is an important one. However, it’s a really subjective one as well. You need to be the one to call the shots and see what feels right. Nevertheless, there are always some facts that you can take into consideration. Something that people often wonder about before relocating to OC is whether there are any fun things to do there. Let’s see.

Alt-tag: A wine rack symbolizing how you can go wine tasting if you live in Orange County.
If you live in Orange County, wine tasting is a must!
  • You can stay in period cottages.
    This isn’t only a great way to spend your time during your life in OC; it’s also an opportunity to get to know it before moving. Staying in one of the many available period cottages is a great way to get a true sense of the country’s rustic spirit.
  • Try the local brews and wines.
    Of course, one of the most enjoyable things to do in Orange County, Virginia, is to sample the local drinks.
  • Historical sights.
    There are plenty of incredible historical sights you’ll be able to visit once you relocate to OC. To name a few, there are Christ Episcopal Church, Barboursville Ruins, James Madison’s Montpelier, and many more.

Moving here to experience life in Orange County, VA

If you’re making the decision to relocate to Orange County, there’s a lot that you need to think about. Especially if you’re leaving behind a great place like DC, hiring a long-distance moving company and taking the planning process seriously is a must. However, if you really want to leave DC to live here, a bit of hard work shouldn’t stop you. Dive into this process all in, and you’ll be ready to enjoy your new life in Orange County in no time.

Look for the best spot

A great way to make your life in OC interesting, enjoyable, and satisfactory is to choose the perfect neighborhood for you. Luckily, finding the best neighborhood in a place like Orange County is rarely a problem. You have various choices to go through. These are some neighborhoods you must check out!

  • Gordonsville
  • Lake of the Woods
  • Orange

Once you’ve settled on a choice, make sure to do more thorough research and visit the place a couple of times before deciding to live there.

Alt-tag: A woman typing on her laptop researching neighborhoods to live in Orange County.
There are some great neighborhoods in Orange County that you can research and move to.

Find suitable movers

Of course, there can’t be a proper relocation without a trustworthy moving company. Before you even start to plan the move, make sure to find movers that will make your move go smoothly and without fuss. Pairing up with A2B Moving and Storage or similarly reputable companies would not only mean having partners that’ll help you relocate and store your items, but you’ll also have trustworthy advisors.

The climate in the OC

Orange County has four different seasons. The residents and visitors enjoy it alike. Orange County is located east of the Blue Ridge Mountains and is part of Virginia’s Piedmont Climate Region. The average January temperature is 27-47 degrees, and the average July temperature is 68-88 degrees. At around 43 inches per year, the average precipitation is the second highest of Virginia’s five climate areas. Mid-late October is when the nice weather is at its greatest. The region’s growing season is long enough, at 182 days, to allow a variety of crops to mature properly.

Alt-tag: Clouds with sunshine passing through them.
The weather in Orange County can be pretty multifaceted, so be careful and always check the reports.

Purchasing a house in OC

If life in Orange County, VA sounds exciting, make sure to organize everything that’s supposed to wait for you there before you make the relocation. For example, one of the most important aspects of living somewhere is having a roof over your head. Luckily for you, purchasing a home in Virginia is often a very positive experience. There are many advantages to buying a house here. This makes life in Orange County even more desirable. Because of their popularity, most vacation properties have maintained their value and will most likely continue to do so. The taxes to income ratio is a pretty positive one if compared to surrounding places. Buying a vacation home in Orange County is also a great investment, especially if you’re planning on retiring there.

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

orange county virginia restaurant week

Orange County, Virginia Restaurant Week is August 20 – 29th!

Have you been waiting to try a certain restaurant in Orange County, Virginia? Maybe the timing wasn’t right, or you weren’t sure where to start- we’ll now is the perfect time to start planning!

Orange County Chamber of Commerce, Orange County Tourism, and LoveOrangeVirginia are celebrating their 2nd annual restaurant week. There are so many amazing local restaurants and culinary talent in Orange County, it’s their time to show them off, so everyone can give them a try! Participating restaurants will have a pre-fixed menu to select dishes from (typically an appetizer, entrée, and dessert) so you may truly try a bit of everything on their menu. What a wonderful opportunity to try something new from one of your favorite restaurants or find another new favorite!

Participating restaurants include, but are NOT limited to Bella Cusina, Graze Steakhouse, Vintage, Provisions, La Naranja, El Vaquero West, Clearwater, Krecek Kakes! There are more being added each week, check out the most up-to-date and complete list here. If you are a restaurant owner and would like to participate, learn more here.

Orange County, VA Economic Development wants to encourage people to support our local restaurants and is offering a chance to win a $25 gift card to an Orange County eatery of your choice for participating! Visit here for more details on how to win the gift card!

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

reynolds GMC, orange county virginia

O.C Chamber of Commerce, August Business of the Month: Reynolds GMC

Reynolds GM-Subaru was started in 1938 by C.A. (Jack) and Chester Reynolds in 1938 as a service station on the current site of Wayne Modena’s State Farm Insurance. Later, Reynolds moved across the street to the current site of the McDonald’s on Madison Road. After World War II where both Chester and Roy Reynolds served with distinction, Reynolds gained the Pontiac franchise and moved to their current location on Madison Road where Chester and Roy oversaw expansion of the business to include gaining the Cadillac, Buick, and GMC franchises through the 50’s and 60’s. During the 60’s and 70’s, Reynolds added a full-service body shop and multiple buildings comprising most of the modern footprint you see today. Expansion during the 80’s, and 90’s under the leadership of Kevin Reynolds, Sr. and Tom Reynolds included adding an expanded body shop on Woodmark Street and the Subaru franchise. Today, the dealership is a franchised Chevrolet, Cadillac, GMC, Buick, and Subaru store and is owned by Kevin Reynolds, Sr., John Reynolds, and Kevin Reynolds, Jr. They currently employ over 60 people and contribute to the local economy and local charities with equal fervor. Over the past decade, Reynolds has been awarded by its franchised manufacturers as the best in the nation in customer satisfaction. A veteran-owned and operated company since its inception, Reynolds believes in serving their fellow citizens and has for 80 plus years. 


Reynolds GM Subaru
Located at: 249 N Madison Rd, Orange, VA 22960540-672-3700
“The Dealership that Service Built”www.reynoldsgmsubaru.com

Article courtesy of the Orange County Virginia Chamber of Commerce.

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

17071 Waine Dr, Orange VA 22906 for sale

17071 Waine Dr, Orange, VA now UNDER CONTRACT!

Welcome to 17071 Waine Drive! Imagine sitting on your front porch swing watching the skydivers floating down gracefully with your favorite beverage. Once inside, you are welcomed by gleaming hardwood floors, elegantly painted and space to roam. The open floor plan boasts a family room with a gas fireplace, fine finishes and built-in bookshelf. The main level living areas flow effortlessly, into one another, it is perfect for entertaining or daily life. The dining room is full of natural light and perfectly sized with access to the deck. Enjoy cooking in your kitchen featuring upgraded appliances, breakfast bar, and recessed lighting. Your owner’s suite is spacious and offers an en-suite bath with soaking tub and double vanity. The lower level will excite with a work-out room that will make exercising at home a breeze or watch the latest movie in your own home theater room, this home has it all. You will love watching the deer and other wildlife from your deck as you relax and hear nature sing. A country setting, so close to town and perfectly situated on over 3 acres, you can forget about all of your worries. There is plenty of room for your horse and room to create your own oasis away from it all yet so close to everything!

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

downtown orange, virginia

Downtown Orange County Street Festival, Saturday, September 11, 2021

This year’s 46th Orange County’s Street Festival will be in honor and remembrance of September 11, 2011, with the theme of HONOR OUR HEROES hosted by the Orange County Chamber of Commerce.

This year’s annual beloved community event will take place from 9AM to 4PM on Saturday, September 11th, and typically features over 200 artisans, craft and commercial vendors, a variety of food and beverage options, live music, a kid’s zone, and a beer and wine garden for the adults. Check out a list of all the vendors already scheduled to be at the event here.

This family-friendly festival attracts an average of 5,000+ people from all over Central Virginia each year and is a great opportunity for community awareness and promotion. This event is completely free to attend, grab the kids and friends as this will be fun for all!

If you’re interested in participating as a vendor, please apply here.

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

Blooms and Butterflies at Liberty Mills Farm

July 23 through July 25th, Liberty Mills Farm is hosting a Blooms and Butterflies event! Friday, July 23rd & Saturday, July 24th from 10AM – 3PM. Sunday, July 25th from 11AM – 3PM.

The featured butterflies species showcased are Painted Ladies. They are ordered and delivered to the farm from a small butterfly farm in Massachusetts called Butterflies and Blueberries. Did you know, they are the most widely distributed butterfly in the world? Painted Lady adult butterflies can cover up to 100 miles per day and reach speeds of nearly 30 miles per hour! Butterflies will be available to purchase to release yourself for $10 per butterfly.

Additional activities will include you-pick flowers (the pre-sale price of $25 each), giant zinnias, cosmos, music, a hayride, a farm market, and so much more!

Don’t fear going hungry on Saturday and Sunday, the Firefly on the Fly food truck will be at the farm to support all hungry bellies.

Tickets for this event will be $8 per adult and $6 per child. No tickets are needed for children ages 4 and under. Tickets and additional information about this event can be found here.

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

sunflowers

Sunflower Festival at Liberty Mills Farm!

Check out the beautiful Sunflower Festival by Liberty Mills Farm and Firefly on the Fly Food Truck. There will be multiple opportunities to attend the festival starting August 28th, August 29th, Sept 4th, 5th, and 6th during various times.

There will be 30 different varieties of sunflowers available for your viewing pleasure. Over 5 acres of flowers showing off an array of colors, sizes, and even shapes, making this the perfect place to create your own beautiful bouquet to take home. This festival will also feature local vendors, food trucks, homemade ice cream (yum!) fresh-made fudge, and music. Bring all the kids, family, and friends for a fun time, relaxing in the country!

The current music lineup consists of Austin Boggs & Billy Caldwell.

Address for Liberty Mills Farm is 9166 Liberty Mills Rd, Somerset, Virginia 22972

Tickets are only $10 (ages 11+) and $6 (ages 5-10) per person/child. Presale tickets begin on August 14th! Buy your tickets before August 20th online and save $2 per ticket! There is a *Special Golden Hour* from 6pm – 8pm where tickets are available for $15 each but MUST be purchased in advance! Tickets are limited per day, so be sure to buy yours sooner rather than later, and can be purchased online here or at the farm on the day of the event (if available!).

Please note: no pets, smoking, or alcohol are allowed on the farm!

For the most up-to-date information, please click here.

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

31342 Paynes Farm Dr, Locust Grove VA 22508

31342 Paynes Farm Dr, Locust Grove VA 22508 Offered for Sale at $490,000!

Welcome to 31342 Paynes Farm Dr. This beautiful custom-built home is nestled in the trees and perfectly situated on 4+ acres. You are welcomed by an expansive front porch with ceiling fans and room for a porch swing. Once inside, you will notice the hardwood floors, and huge foyer leading to the great room. The great room has a gas fireplace, built-ins and access to the deck. You will love how open the kitchen is, featuring a huge island, pantry and dining area. The formal dining room is just to the right and creates an incredible open area for entertaining family and friends. There are two spacious owners’ suites with en-suite baths. Imagine the main level office that could also be a playroom, craft room or classroom. The laundry/mudroom will amaze you with wall-to-wall cabinets, countertop and sink. And that’s not all…the three-car garage will provide amazing storage, while the shed outside will accommodate all your lawn equipment. With the acreage, you could create a backyard oasis. Plant a garden, add a swimming pool, play area or whatever you desire. You will enjoy the sounds of nature and watching the deer graze from your deck. Conveniently located close to the Town of Orange, Culpeper and Fredericksburg.

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

Virginia scenery

Moving from Maryland to Virginia to Start a Family

First of all, congratulations. You have chosen a great state to start a family in. Virginia is a safe and wholesome state that has a lot to offer. It is a family-friendly state, as raising kids in it is easy. However, you have to get there first. Moving from Maryland to Virginia is considered an interstate relocation, and those kinds of relocations need to be well organized. So, make sure to stick with us to the end if you want to find out how you can move to Virginia with the least amount of trouble and start a family there!

There are a lot of things you can do in Virginia

Virginia is one of the most famous states in and outside the US. This means that it is an old state, with a lot of history and many things to do in it. 

One of the best spots in this well-known state is certainly Orange County. There are many things to do in Orange County, and it is no wonder why many families decide to start a new life here. As we already mentioned, Virginia is a safe state, with a plethora of opportunities for children and adults alike, as it offers excellent education and many job opportunities!

Make sure to plan your move and create a strategy

Planning is essential for every relocation. Moreover, no relocation is possible without proper organization, let alone an interstate move. This is why you need to take moving organization seriously and create a strategy of how and when you are going to move to Virginia.

A person planning a relocation
For everything in life, it is good to have a plan. Moving from Maryland to Virginia isn’t an exception

Find a good moving company

Moving organization starts with searching for a good moving company that can take you to Virginia. There are many movers on the scene, but you need to hire real professionals if you want to organize the process in a flash since interstate moves such as those from Maryland to Virginia can be very time and energy-consuming.

Make sure to compare different moving companies online, look at their reviews, and get in touch with as many moving companies as you can. You also need to remember that you need to book your move at least two months in advance.

Calculate the costs of the move

In the early phases, it is impossible to precisely calculate how much your move will cost you. However, you can get a rough estimate if you include all potential expenses. Good moving calculation always leaves some space in the budget for unexpected circumstances. This means that you have to leave a financial margin in your estimate if something goes wrong.

The main cost you’ll want to include in your calculations is the cost of hiring a moving company. Every respectable moving company has a moving calculator, which enables customers to roughly calculate the cost of the move. Keep in mind that online estimation doesn’t have to represent the price in the real world.

Also, you need to include the cost of moving insurance, the cost of renting a storage unit, hiring professional packers, etc.

Pack for the move or hire professionals

Most people choose to pack themselves for the move. Sure, that way you might save some money, but in return, you’re going to lose a lot of energy.

 Professional packers packing a window.
It might not be a bad idea to hire professional packers for your relocation.

However, if you choose to do so, here’s what you need to buy:

  • boxes, plastic bins, and similar containers
  • packing tape
  • a marker
  • some kind of protective material like packing peanuts
  • crates

You can get most of these materials at the nearest supermarket, and they are not that expensive. However, if you don’t want to lose time and energy on that or have special items you wish to move to Virginia, we recommend hiring professional packers trained to do that.

Renting a storage unit in Virginia is preferable

Many people forget the importance of storage units. Storage units are handy when moving to a new location since you can never exactly know how much space you’ll have for your stuff. In short, it always helps to have a place in which you can leave your things after the move.

A storage unit
Many people forget to rent storage after a relocation. This can cause a lot of trouble. Don’t let this happen to you when you’re moving from Maryland to Virginia!

But, if you want to take two pigeons with one bean, you might want to find a moving company, such as Helix Transfer & Storage, which can offer storage solutions as well.

Find good housing 

As we already mentionedOrange County in Virginia seems very attractive to families, especially ones with children.

One of the reasons behind that is the excellent state of the real estate market in the county. In Orange County, you can get a fantastic home for a reasonable amount of money and live in friendly suburban neighborhoods, perfect for anyone who wants to start a family in Virginia. 

Also, buying a home in Orange County is an excellent opportunity for some serious investment. It is predicted that the prices will continue going up, and many experts recommend that investors jump on the train and reap the benefits of coming to market early.

All in all, Virginia is a prosperous state with its own little renaissance at the moment, as it offers an excellent opportunity for families to develop and grow properly. This is why we think that Moving from Maryland to Virginia to start a family is a great choice.

Photos used:
https://pixabay.com/photos/blue-ridge-mountains-sky-clouds-1874266/
https://pixabay.com/photos/writing-write-person-paperwork-828911/
https://pixabay.com/photos/glass-work-workers-carrying-glass-3770979/
https://pixabay.com/photos/ikea-warehouse-industrial-tempe-2714998/

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

A person circling the word "Approved" with a green marker, symbolizing the benefits of a good Virginia home loan guide.

Virginia Home Loan Guide

Orange County, Virginia, has become one of the most popular areas for people with families. Even though it’s a mostly rural area, it is still close to large cities like Richmond, DC, Charlottesville, etc. Rural areas and suburbs have become desired locations for families looking for new homes, or vacation homes, especially during the pandemic. With that in mind, we want to cover a simple and useful Virginia home loan guide and get you one step closer to your dream house! Let’s get started!

What is a home loan?

Let’s start by defining what a home loan is. Also known as a mortgage, it is a type of loan used only to purchase a house. A lender creates a contract with the borrower for a specified amount of money. The borrower uses that money to buy a house and pays monthly installments to the lender over a period of 15 to 30 years.

When you start browsing the hottest neighborhoods in Orange County, Virginia, be sure to check with your agent what the average cost of homes is. That will tell you if your credit score will allow you to get the amount you will need to buy a house.

Let’s break down the structure of a monthly loan

One of the most critical parts of our instructional is to teach you how to calculate your monthly payment. To get the amount of your monthly loan payment, take the principal amount (the sum that the lender borrows you) and apply the interest rate to it.

Per the US Bank, for fixed-rate mortgage loans in Virginia, the interest rate depends on the term and the type of mortgage. The common types are:

  • conventional fixed-rate mortgage – a kind of loan that conforms to the size of the loan and your financial budget, and the interest rate is fixed until it is fully paid;
  • adjustable-rate mortgage – interest rate fluctuates and will change based on the predetermined index;
  • FHA mortgage – Federal Housing Administration loan has more flexible lending requirements than a conventional loan. It also includes insurance premiums, but more of that in the next section;
  • VA mortgage – Department of Veteran Affairs loan will allow eligible service members to purchase a home with a low down payment, or without a down payment;
  • Jumbo mortgage – this type of loan is what you would usually use if you want to purchase a luxury home when the price exceeds conforming loan limits. To get it, you need a high credit score and a low debt-to-income ratio;

What are insurance premiums and property taxes?

When buying a home in Virginia, you also need to pay an annual insurance premium that protects your home from any damage. It also protects you from a financial loss or if someone gets injured on your property. Furthermore, you need to pay quarterly property taxes to your local municipality.

It often happens that a lender pays for both the taxes and insurance premiums. In that case, you will actually pay more than your monthly mortgage payment, and that money goes into your escrow account. Then, the lender uses it to cover the expenses when they are due.

When we consider the cost of purchasing a home, paying your real estate agent, and organizing a relocation, you can see how important it is to precisely calculate all of the expenses and know your financial limit. Through this guide, we will also teach you how to save money whenever possible. Since you cannot cut corners when it comes to paying your lender, you can at least consider consulting Verified Movers, and they will connect you with affordable and licensed moving companies in the area.

What is a promissory note?

When you sign the contract with your lender, there is also a second agreement included. It is called a promissory note, and when you sign it, you oblige yourself to repay your home loan and the interest rate. Furthermore, you pledge to stick to the repayment schedule.

A second mortgage and how to use it

It is a common practice to get a second mortgage after you purchase your house. This loan comes in two forms: home equity loan and home equity line of credit.

While with a home equity loan, you borrow a sum of money and pay it back with interest over time, a home equity line of credit works a bit differently. You can borrow a granted amount of money over time, and you can split it. That means you can borrow one amount during this year and the rest during the following year. This means you can calculate how much money you need, and you are not under the obligation to get the whole sum.

A second mortgage is calculated if you take the total cost of your home and subtract the remaining mortgage balance. If you bought a home worth $150,000, and you have $100,000 to pay, that means you own a percentage of your home in the sum of $50,000. That sum is how much you can borrow for your second mortgage.

One of the major benefits of a second mortgage is that you can spend it on anything you want. While you can do home renovation projects, you can also spend money on anything else, like paying for relocation. With that money, you can hire movers that provide an easy and stress-free process. It will undoubtedly make your life a whole lot easier and free up some time to focus on other more pressing matters.

How to secure a mortgage

When you apply for a mortgage, the first step is to research lenders and find the best interest rates for your pocket. Securing a mortgage is a lengthy process, though. The main requirements are a favorable credit score, a low debt-to-income ratio, and a down payment.

A credit score is considered good if it’s above 670. You can still get it with a lower credit score, but your interest rate will be higher. Your debt-to-income ratio should be below 36%, and the down payment is at least 20% of the price. The higher the down payment is, the lower the interest.

Virginia home loan guide made easy

Do not be frightened by the process of getting a mortgage. We hope that this Virginia home loan guide has everything you need to go through the process with ease. Once you have your dream home secured, you will have a lot to do Virginia and you will never be bored. Best of luck in buying the home of your dreams!

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.