The next step is hunting down the best mortgage for that Newport News home for purchasing or refinancing. An excellent starting point is here: simply give us an idea of the type of loan you want. You will receive bids from multiple Newport News lenders that will compete to provide a loan at the lowest rate, matching you with nearly 24 Newport News mortgage lenders. Your mortgage may be for a new home, refinancing or perhaps a home equity loan - in any case, the best way to start is to see what everybody offers.

How much of a Mortgage?

Mortgage affordability is important to the bank, but crucial for you. As of 2005, the average Newport News mortgage payment was $1,198 which will give you an idea of what you can expect even with historically low rates. Our mortgage calculator will help you plug in the critical components so that you can determine how large a home loan is reasonable for your Newport News home.

Newport News is a major city in Virginia with no shortage of reputable mortgage lending institutions. These include financial houses working with us such as: American Home Mortgage Corp, Suntrust Mortgage Inc, Atlantic Bay Mortgage Group llc.B F Saul Mortgage Company.New South Federal Savings Bank.Branch Banking And Trust Co.Bank Of America Na Charlotte.Jpmorgan Chase Bank Na.Irwin Mortgage Corporation.Mortgage Source Inc.

Newport News Mortgage & Real Estate Market

In 2006 Newport News housing sales were at an all time high; down recently but leveling off. As of 2005, the median home value in Newport News was $152,000. This number is big in comparison to the median home value back in 2000 of $96,400. Newport News has a solid home ownership base with 77,426 houses and apartments and 51% of those are occupied by their owners. Despite the current market, historically Newport News has been a city where people move, buy and stay - with 59% of homeowners currently paying off a mortgage. About 18% of the city's current homeowners are carrying a second mortgage or home equity loan.

Bank of America
7550 Teague Rd Hanover, MD	Phone: 410-548-5678 Ask for: Brewington Ron
Special Mortgage Programs
Great Rates call today for your quote! Call Ron Brewington at 410-548-5678 or email me @ ron.brewington@bankofamerica.com

Housing	Newport News, VA	United States
Median Home Cost	$246,700	$217,200
Homes Rented	44.91%	21.45%
Home Appreciation	33.90%	9.80%
Homes Owned	49.14%	64.07%

Location	Population	Median Family Income (2005)
Alexandria	128,283	$56,054
Annandale	54,994	$72,561
Arlington	189,453	$63,001
Blacksburg	39,573	$22,513
Burke	57,737	$93,561
Centreville	48,661	$71,232

Category	Value
Home Equity Loan Only	7%
Homes With No Mortgage	23%
2nd Mortgage or Home Equity	18%
Second Mortgage Only	11%
First Mortgage Only	59%

Mortgage Type	Today	Last Week	Change
30 yr fixed	6.03	6.24	0.035%
15 yr fixed	5.47	5.72	0.046%
5/1 ARM	5.34	5.43	0.017%
3/1 ARM	5.48	5.42	0.011%

Your dream of home ownership, refinancing, or using your homes equity might just be an
application away. Simply fill out our short form and get quotes from mortgage lenders near you!

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