Arlington County, Virginia
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1 Platform, 6 Refinance Alerts
01
Alert for Lower Rates
02
Alert for Cash Out
03
Alert for Shorter Term
04
Alert for Eliminating PMI
05
Alert for Product Changes
06
Alert for Changes in Home Value
Arlington Real Estate Market Update
The real estate market in Arlington County, Virginia, is currently a seller's market, with the median home sold price reaching $762,223 in October 2024, reflecting a 6.2% increase from the previous year. The median price per square foot stands at $487, indicating a competitive market where homes are selling relatively quickly.
Arlington County is primarily composed of the city of Arlington, which serves as the county seat and is the most populous area. Arlington is a vibrant urban community with a population of approximately 238,643 residents. It is known for its proximity to Washington, D.C., and its diverse neighborhoods that offer a mix of residential, commercial, and cultural amenities.
Living in Arlington County offers a predominantly suburban lifestyle with urban conveniences. The area is characterized by its well-developed infrastructure, making it an attractive location for professionals working in government and technology sectors. The top industries include government services, technology, and education. Arlington's appeal is further enhanced by its excellent public transportation system, quality schools, and a strong sense of community, which collectively attract individuals and families seeking a balanced urban-suburban living experience.
2025 Mortgage Loan Limits:
Arlington County, Virginia
1 Unit
$1,209,750
Conforming Loans
$1,209,750
FHA Loans
2 Unit
$1,548,975
Conforming Loans
$1,548,975
FHA Loans
3 Unit
$1,872,225
Conforming Loans
$1,872,225
FHA Loans
4 Unit
$2,326,875
Conforming Loans
$2,326,875
FHA Loans
Questions About Refinancing in
Arlington County
What is mortgage refinancing?
Refinancing is the process of replacing your current mortgage with a new one, often to secure a lower interest rate or change the loan terms.When should I consider refinancing?
Consider refinancing when interest rates drop, your credit score improves, or you want to switch from an adjustable-rate to a fixed-rate mortgage.How much does it cost to refinance?
Refinancing costs typically range from 2% to 5% of the loan amount, including closing fees, appraisal, and title fees.How long does the refinancing process take?
The refinancing process usually takes between 30 to 45 days, but this can vary based on lender efficiency and document preparation.What are the benefits of refinancing?
Refinancing can lower your monthly payments, reduce interest rates, shorten loan terms, or allow you to tap into home equity.What is cash-out refinancing?
Cash-out refinancing allows you to take out a new loan for more than your current mortgage balance and receive the difference in cash.Will refinancing hurt my credit?
Refinancing may cause a temporary dip in your credit score due to the hard inquiry, but the impact is usually minor and short-term.Can I refinance with bad credit?
It may be harder to qualify, but some lenders offer refinancing options for people with lower credit scores, though they often come with higher interest rates.How much equity do I need to refinance?
Most lenders require you to have at least 20% equity in your home to qualify for refinancing, though some programs may allow for lower equity percentages.Is it possible to refinance a rental property?
Yes, you can refinance an investment or rental property, though the terms and interest rates may be different compared to refinancing a primary residence.
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