Bill Hughes

Loan Officer

With over 20 years experience in lending, Bill has helped hundreds of people achieve their goal of home ownership. Whether you are a first time home buyer or refinancing an existi

ng loan, Bill has a solid understanding of the local real estate market and what it takes to close your loan with efficiency and expertise.

Bill’s experience with all types of loan programs give borrowers an advantage in finding the right program that fits their specific needs, including construction loans, renovation loa

ns, FHA/VA, VHDA, and even interest-only loans. In addition, he makes himself available to help borrowers throughout the mortgage process. A proven mortgage professional, Bill’s attention to detail will make your mortgage process run smoothly and easily.

A native of Springfield, VA and graduate of Longwood College in 1986, Bill moved to the Richmond area shortly there after to pursue his MBA at Virginia Commonwealth University. Bill lives in Midlothian, VA with his wife and two beautiful daughters. After 22 years of living in the area he now considers Richmond home, and the best place in America to live.

 

 

 

 

  • VHDA:

  • Construction Perm:

     

     

    We have a two time closing CP loan.  The benefits of using construction permanent financing:

     

    If you are a builder:

    1)      You are not tying up your construction lines of credit so having the borrower finance the project frees up your construction lines to do other projects.

     

    If you are a homeowner:

    1)      Since builder is not carrying construction loan costs, this may result in a leaner contract price for you.

    2)      Construction loan proceeds will be disbursed based on percentage of completion so you will pay  interest only on the amount disbursed – ie, it will start low but increase as the construction project progresses.  Low construction interest rate of 6.5% with 1 point or 4.5% with no points.  If you choose first rate option, the 1point will be refunded to you when house is completed and permanent loan is closed with VBMC.

    3)      Any “cash” downpayment from you will be collected up front at closing.  We will disburse from your funds first before tapping into the loan amount – again this saves you interest.

    4)      Construction interest payments are “auto drafted” from a checking account each month – no extra bill to remember to pay.

    5)      We disburse all construction funds to you unless you want us to disburse to the builder directly – you decide how much control you want to maintain.  If it is more convenient to have funds requested and disbursed directly to the builder, you can also request that option.

    6)      At each draw, we will request a title update and an inspection by a third party bank inspector.  We will only disburse construction funds for work in place with clear title.  We will coordinate the inspections, title and calculate the amount to be disbursed based on a percentage of completion.

    7)      Tax benefits for the construction interest.

    8)       We have partnered with attorneys, title companies, appraisers to streamline and reduce duplication of costs for the construction and permanent loan closing. 

    9)      Flexibility in selecting a permanent loan product – choose from any of our mortgage loan products.

    10)   Extended rate locks are available at an additional cost on select programs to protect you from rising interest rates during the construction of your home.

    11)   We review and approve the builder – this way you can move forward with confidence about the builder you have selected and their ability to complete the project.

    12)   We embrace the village philosophy of being a neighbor and not a number.  We will guide you through the financing piece so you can focus on the fun stuff – building your new home.   We will be with you throughout the process.    We really appreciate your business, love sharing the excitement, and are grateful for the opportunity to help!

     

     

  • HARP II:

     

     

    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 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

     

     

     

  • FHA Streamline:

     

    Your current FHA loan may qualify for the new FHA Streamline program starting June 11, 2012.  This new program reduces the normal cost of mortgage insurance and helps you capture today’s historically low interest rates.  This can also be done WITHOUT an appraisal and very little paperwork. Your homes current value is not a factor with this program. 

    Benefits include:

    •    Lower monthly payments
    •    No risk of your home value preventing the refinance
    •    Reduce or eliminate Mortgage Insurance

    To see if this program could 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


     

  

        

 Also, check out Bill on LinkedIn and Facebook:  

 

 

Contact Information:
Phone: 804-419-2852
Fax: 804-419-2851
Cell Phone: 804-247-1370
bhughes@villagebankmortgage.com

Address:
1120 Huguenot Road
Midlothian, VA 23113

http://villagebankmortgage.com/bill/

NMLS #322967

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