About the Fredericksburg, Stafford, Spotsylvania and Prince William, Virginia Area
 Fredericksburg, Virginia "3rd Best Small City in the Country" (as named by "Life in America's Small Cities") is located just one hour south of Washington,D.C. and 45 minutes north of Richmond, is actually an old Colonial town with a strong Civil War background. The town itself only covers a few square miles. The urban areas surrounding the city are where the growth and development is located. Fredericksburg is dead center Stafford and Spotsylvania Counties both of which spread out many miles in all directions. The Fredericksburg, Stafford, Spotsylvania area is reported to be one of the fastest growing areas in Virginia and in the top 20 in the nation. The growth can be attributed to several facts including a large portion of the Fredericksburg residents commute to the D.C. area. Three large military installations are nearby. Fredericksburg is home to several major companies.
The City is situated along the Rappahannock River and located withing the Spotsylvania county lines, but politically independent. Founded in 1728 and named after Prince Frederick Louis of Wales, Fredericksburg was incorporated as a town in 1781 and became a city in 1879. While it's many historic sites and lovely tree shaded residential neighborhoods give it a unique colonial atmosphere that attracts thousands of visitors, the city also serves as the focal point of business, shopping and finance for its neighboring counties. The City of Fredericksburg covers 10 square miles while the historic district has over 350 original buildings built before 1870 and covers 40 square blocks. The population in Fredericksburg is around 20,000 and growing with a median income of about $40,000. James Monroe practiced law here, was the boyhood home of George Washington and Thomas Jefferson resided here at one time. Many civil war battles were fought here or nearby. Request our Free Fredericksburg, Stafford, Spotsylvania and Prince William Relocation Package. It's packed full of useful and important information about the Fredericksburg, Stafford, Spotsylvania and Prince William, Virginia area. Don't move here without it! Remember: we'll send it to you for free and without obligation. Just fill out the form and we will send it right out... It's our job to know EVERYTHING about Fredericksburg, Stafford, Spotsylvania and Prince William! Ask us any question. Or request a FREE information package. There's no obligation, and we promise to get back to you quickly...
Financing Your Home >Hybrids Offer Low Rates In the field of home financing, "hybrid" mortgages have grown in popularity with homebuyers. With interest rates gradually rising in today's market, the hybrid mortgage product saves money, provides a period of fixed-rate security and helps buyers qualify for financing.
Hybrid mortgage loans offer a very low fixed-rate for a period of time, usually from 5 to 7 years, then revert to an adjustable rate mortgage (ARM) for the remainder of the term of the loan. The interest rate is typically lower than with a 30-year fixed-rate loan, and the borrower has the assurance that the rate will not change for a period of years. Such a loan works well for buyers who plan on reselling the home within a finite period.
Other specialty mortgages now available include an ARM loan with a provision allowing it to be converted to a fixed-rate loan when that is a practical step for the borrower. Still others offer an interest-only loan that requires payments to be made on the interest only for a specified number of years, then reverts to an amortized loan with interest and principal payments each month. Consult with an experienced mortgage professional to determine whether one of these loan products will meet your needs.
|
| Q |
What is a "jumbo mortgage"?
|
| A |
The term "jumbo mortgage" currently refers to a mortgage loan in excess of $359,650, although the threshold amount may change as the market fluctuates. |
 See More Real Estate Trivia > |
|
|
|
- NUMBER1EXPERTS™ 
