How your ratios affect your home buying power.

Julie Nesbitt
Julie Nesbitt

Two ratios are calculated by mortgage lenders to determine a buyer’s maximum loan amount:1) the front ratio and, 2) the back ratio.

Front Ratio: The total mortgage payment including principal, interest, taxes and insurance (PITI) as well as any condominium or homeowner association fees divided by your total GROSS income. Traditionally, this ratio must be below 30% Example: With a gross income of $5000 per month, a total mortgage payment (PITI) of $1350, the front ratio would be 27%.

Back Ratio: The total mortgage payment PLUS any car payments, credit card and any other loan payments including student loans divided by your total GROSS income. Traditionally this must be below 40%. Example: With a gross income of $5000 per month, a total mortgage payment of $1350, a car payment of $325, 1 credit card payment of $60 and 1 student loan payment of $150 for a total of $1885 with a back ratio of 38%.

For more information or to set up an appointment call Julie at (703)765-0300.

If you need help calculating your ratios, please contact Julie Nesbitt at 703 765 0300.

“Using a real estate agent is a very good idea,” says the U.S. Department of Housing and Urban Development (HUD). “All the details involved in home buying [and selling], particularly the financial ones, can be mind-boggling. A good professional can guide you through the entire process and make the experience much easier.”

Selecting the right professional is the key to a successful real estate transaction. Better than working with a simple real estate agent, you’ll want the services of a Realtor®.

What’s the Difference Between a Real Estate Agent and a Realtor?

More than two million people have earned real estate licenses but only a small percentage of these are Realtors. Realtors are members in good standing of the National Association of Realtors, their state association of Realtors and a local real estate board. Realtors are held to high standards of ethical behavior and must undergo continuing education annually to remain accredited.

All agents of Nesbitt Realty are Realtors!

Team Nesbitt, Will Nesbitt, Nora Yelland, Julie Nesbitt, Alain Clerinx, Andrew Patton, Ronald Ginyard Sr., Stuart Nesbitt
Team Nesbitt is here when you need us.

 

first-time buyer
Nesbitt Realty helps first-time home-buyers realize their home-buying dreams.

4 Reasons to choose the Prescott

  1. Schools: Students are served by Jefferson Houston Elementary SchoolGeorge Washington Middle School, and T.C. Williams High School.
  2. Old Town: This neighborhood has many amenities including retail, dining, nightlife, and culture.
  3. New: This residence was built in 2007 and feature hard wood floors and 9 foot tall ceilings.
  4. View: From the rooftop terrace there are views of the surrounding neighborhood and the lower courtyard.
Prescott real estate agents
Nesbitt Realty can help you buy and sell real estate in Prescott

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Prescott real estate agents.
Nesbitt Realty can help you buy and sell real estate in Prescott.

Old Town

homes and condos for sale in the Old Town area of Alexandria VA
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An awesome Fairfax County Real Estate Opportunity

Kingstowne is a relatively new planned community. Kingstowne is near a man made body of water that is surrounded with paved sidewalks that connect to amenities.

An advantage to Kingstowne’s new planned community, are the many retail establishments that serve this part of Fairfax County. For example, there is a Game Stop, a Walmart, a Ross, a Safeway, a movie theater, and many restaurants that vary in price from Uno’s to Bone Fish to East Moon to Moby Dick, etc. For nearby nightlife there is Top Golf, which is a popular place for it’s driving range and bar.


Aubrey NesbittAbout the Author --- Aubrey Nesbitt is a native of Northern Virginia who attended Virginia Commonwealth University. He is a veteran of the US Army and helps his family business by providing informational articles like this one. In addition to photography and blogging, Aubrey provides administrative support for the office.

Top 3 Highest Property Taxes in Northern Virginia

1. Loudon County

Fairfax County
Think of Nesbitt Realty if you need to buy or sell real estate in Fairfax County

Median property taxes: $4,784

Median home value: $544,400

Taxes as of home value: .09%

Median income for home owners: $118,518

Taxes as of income: 4.0%

 

2. Alexandria City

Median property taxes: $4,366

Median home value: $555,100

Taxes as of home value: 0.8%

Median income for home owners: $114,262

Taxes as of income: 3.8%

 

3. Fairfax County

Median property taxes: $4,624

Median home value: $568,900

Taxes as of home value: 0.8%

Median income for home owners: $122,516

Taxes as of income: 3.8%

 

Source: Forbes, Who Pays America’s Highest Property  Taxes

Properties in Fairfax County



Election day at West Potomac High School

Election day took place on November 4, 2014. The voting at WPHS was busy with politically active citizens. The voting was done on a sheet of paper which was then scanned by a machine.

The voting all took place in a cafeteria. To vote, identification was first presented and a ballot was given before a station was assigned. Outside of the cafeteria sample ballots were offered from both Republicans and Democrats.

Contact Nesbitt Realty today, for Real Estate in the West Potomac High School district
Contact Nesbitt Realty today, for Real Estate in the West Potomac High School district
The White House photographed from the National Mall
The Capital photographed from the National Mall
Click Fairfax County to use our map-based search of real estate in Fairfax County. Because Fairfax County is one of the largest jurisdictions in the area, we've arbitrarily divided the county up to make it easier to understand for newcomers and home shoppers. See below for a complete list, or browse the tabs for links to some of the communities we serve.
Fairfax County Virginia
Seal of Fairfax County Virginia

Aubrey NesbittAbout the Author --- Aubrey Nesbitt is a native of Northern Virginia who attended Virginia Commonwealth University. He is a veteran of the US Army and helps his family business by providing informational articles like this one. In addition to photography and blogging, Aubrey provides administrative support for the office.