Village Bank Mortgage

That’s right…we know how to “represent”!

psell — Fri, 11 May 2012 13:27:05 +0000

Virginia Mortgage Lenders Association

At Village Bank Mortgage, taking an active role in our local community is just part of our genetic makeup. We believe a strong local community is the best foundation for success. But we are also aware that our local community is only one part of the big picture. Governmental policies are being drafted everyday that affect our clients, both realtors and homeowners. To ensure that you have an advocate who will give voice to your interests and concerns, we aggressively pursue avenues that will allow us to stand in the gap on your behalf.

One way we accomplish this is through our commitment to organizations like the VMLA.

The Virginia Mortgage Lenders Association (VMLA) is a trade association composed of mortgage lenders, brokers and affiliated industry associates. The association is dedicated to the preservation and improvement of the mortgage lending system. The VMLA Board of Directors encourages its members to use sound and ethical business practices in the making, marketing and servicing of mortgage loans. We promise to keep our members informed of changes in mortgage laws and pending legislation that affect the real estate and mortgage business.

In fact, Village Bank Mortgage has had the honor of holding the office of President for the last two years:

Current VMLA President Rob Heltzel

Past VMLA President Jerry Mabry

We are grateful to be part of this community and we will continue to do our part to ensure that the rights of our homeowners are always protected.

The Underwater HARP…great news for homeowners!

psell — Fri, 04 May 2012 18:33:57 +0000

“In the right hands, this instrument performs like no other!”

Ok…I may not be speaking of an actual harp, but for homeowners underwater on their current mortgage this HARP (Home Affordable Refinance Program) will be music to your ears! If your loan is owned by Fannie Mae (as so many are) and you closed your loan prior to June 1st, 2009 you may qualify for this exciting new program. Features include:

New appraisal may not be required*
Unlimited LTV (in some cases)*
No MI required*
Minimum 620 credit score
Helps underwater homeowners capture today’s historically low rates
Lower monthly payments
You can also reduce the term of your mortgage

So, if you’re ready to “dive in” and discover if the HARP program would work for you, give your local Village Bank Mortgage Loan Officer a call. If you do not have a current VBMC loan officer, just give us a call at (804) 330-9800 or shoot us an email at info@villagebankmortgage.com and we’ll make sure you are well taken care of.

Oh, by the way, if you happen to be in the Northern Virginia area be sure to call our affiliate company:

Phone 703-368-9248

*Contact your VBMC Loan Officer for complete program details and qualifications

We’ve got a lot of T-shirts!

psell — Thu, 26 Apr 2012 12:21:44 +0000

You know that old saying, “Been there. Done that. Got the t-shirt.”? It’s never been more true than at Village Bank Mortgage. In fact, I think these loan officers must be collectors!

In a recent internal report, it was discovered that our loan officers share an average of 21 years experience each in the mortgage industry! Now that’s a lot of t-shirts! It’s also a lot of experience! This means that regardless of the current market, or your current situation (underwater, low cash reserves, etc), they have…you guessed it…been there and done that!

So whether you are a first-time homebuyer looking for down payment assistance (we have grant programs from $5,000 to $15,000*) or an existing homeowner looking for a way to restructure your current mortgage or purchase a new home, you can be assured that one of our experienced loan officers will provide you with the best options and advice in the industry!

If you are a Realtor looking for the best advocate for your clients, just ask your colleagues about Village Bank Mortgage. Chances are one of them has worked with one of our loan officers. You will discover what they already know:

We answer our phones (evenings and weekends)
We make every effort to ensure you close on time
Our extensive pre-approval process ensures a smooth closing

If that wasn’t enough, I’m sure they’d throw in a t-shirt!

So please give us a call and allow us the opportunity to earn your business. We can be reached at 804-330-9800 or by email at info@villagebankmortgage.com. We look forward to hearing from you today!

Oh, by the way, if you happen to be in the Northern Virginia area be sure to call our affiliate company:

Phone 703-368-9248

*Grant funds are subject to availability and quailification

November Housing Starts Increase

psell — Tue, 20 Dec 2011 20:42:02 +0000

Housing starts for November rose 9.3% to 685,000. The highest annual rate since April 2010. Leading the way was multi-family units, rising 32.2%. Single-family units saw an increase of 2.3%. Over the last year, housing starts are up 24.3%.

The Housing Starts report measures the number of residential units on which construction is begun each month. A start in construction is defined as the beginning of excavation of the foundation for the building and is comprised primarily of residential housing. Changes in the rate of housing starts tell us a lot about demand for homes and construction outlook. Furthermore, each time a new home is started, construction employment rises, revenues for the home builder and a myriad of other producers also increase; the economic “ripple effect” can be substantial.

Delinquency Rate Down- Homeownership rate up.

hdalton — Tue, 20 Dec 2011 20:36:17 +0000

The Virginia Mortgage Lenders Association release the National Delinquency Survey today. It showed that Homeownership in Virginia rose by 1.3% in the 3rd quarter of 2011 compared to the 3rd quarter 2010. Virginia’s homeownership rate is above the national average by 2.5% at 68.8. Delinquency rates and foreclosure starts fell during the third quarter of... Read More »

Initial Jobless Claims Reach 3-Year Low

psell — Thu, 15 Dec 2011 22:46:15 +0000

Initial jobless claims dropped 19,000 for the week ending December 10th to 366,000. This marks the lowest level for initial claims since May 2008. Though the weekly claims report can be volatile, 5 of the past 6 weeks have come in below the 400,000 mark. A sign that perhaps the employment sector is improving. The 4-week average for initial claims also fell, dropping 6,500 to 387,750. This report is timely and occasionally moves the market. Although volatile and subject to big revisions, it is considered a good gauge of labor market conditions and an indicator of the employment report.

Mortgage Rate lower

hdalton — Mon, 28 Nov 2011 23:14:19 +0000

In a rare move the stock market soared and mortgage rates fell. This is in reverse of the normal trend. Usually when stock improve mortgage rates go higher.

Existing Home Sales Increase

hdalton — Tue, 22 Nov 2011 20:27:36 +0000

Existing home sales for October rose to 4.97 million, a 1.4% increase from September, and a 13.5% increase from October 2010. An additional positive sign is the decline in the number of homes on the market. Total inventory for October fell 2.2% from September. This represents an 8.0 month supply at the current sales pace, down from 8.3 months in September.

Existing Home Sales is a measure of the selling rate of pre-owned single-family homes, collected by the National Association of Realtors from 650 realtor associations. Sales of existing (or pre-owned) houses account for roughly 84% of all houses sold. Sales of new houses account for the other 16%. Simply put, the volume of sales indicates housing demand.

Dave Worrie shares marketing ideas with Village Bank Mortgage Loan Officers

hdalton — Wed, 16 Nov 2011 19:55:15 +0000

On Monday November 11th, Dave Worrie with Remax Commonwealth, met with Loan Officers from Village Bank Mortgage to share his insite into his marketing success. Dave also meet with Village Bank Mortgage CEO and President Jerry Mabry. During their discussion they agreed that “…housing has never been more affordable. Real Estate values are the best in years and rates are the lowest in decades. It really is a great time to buy a home!”

Job Openings show improvement

hdalton — Wed, 09 Nov 2011 22:44:53 +0000

According to the Job Openings and Labor Turnover report (JOLTS), the number of job openings in September was 3.4 million, up from the August reading of 3.1 million. Although the number of job openings is still below the pre-recession reading of 4.4 million in December 2007, there has been significant improvement since the low in 2009. The September 2011 level was 1.2 million higher than the 2009 low (set in July) and represents a 38% increase since that time.

The chart on this page shows the job opening readings for the past two years, starting in October 2009 and going through the most recent reading for September 2011.