LOUDOUN COUNTY, VA — The first bell on the 2016-17 school year will ring on August 29 and that means parents need to get their calendars in order. To help out, here’s a listing of important dates in the coming year:

• August 29: FIRST DAY OF SCHOOL FOR STUDENTS
• September 5: Holiday (Labor Day)
• October 10: Holiday (Columbus Day)
• November 4: End of First Grading Period
• November 7-8: Student Holiday (Planning/Records/Conference Days)
• November 23-25: Holiday (Thanksgiving)
• December 22-30: WINTER BREAK
• January 2: Holiday (New Year’s) (Classes Resume January 3)
• January 16: Holiday (Martin Luther King Jr. Day)
• January 26: End of Second Grading Period
• January 27: MOVEABLE STUDENT HOLIDAY**(Planning/Records/Conference Day)
• February 20: Holiday (Presidents’ Day)
• April 6: End of Third Grading Period
• April 7: Student Holiday (Planning/Records/Conference Day)
• April 10-14: SPRING BREAK
• May 29: Holiday (Memorial Day)
• June 9: Last Day of School for Students/End of Fourth Grading Period

**Parents with childcare or other weekday scheduling concerns – The date of this MOVEABLE

Planning/Records/Conference Day between first and second semesters may change, if the school calendar
changes due to school closings for inclement weather or other emergencies. Parents with childcare or
other scheduling concerns should be prepared.

9 Week Grading Period Ending Dates:

• November 4, 2016
• January 26, 2017
• April 6, 2017
• June 9, 2017

Schedule subject to change based on possible school closing due to inclement weather, according to Loudoun County Public Schools.

Source: Loudoun County Public Schools

Financing homes in Loudoun County is about to become a bit easier and less expensive as a result of new programs announced in the last few weeks by President Obama and Freddie Mac.

The first announcement came from Freddie Mac in December 2014 where they announced a program that would allow for a 3% down payment called the “Freddie Mac Home Possible Advantage“. This program, along with a similar offering from Fannie Mae, gives home buyers a variety of options when purchasing a home with a low down payment (including the existing one with the Federal Housing Administration-FHA). Some highlights of the new program are as follows:

• Maximum loan-to-value (LTV) ratio of 97 percent and total LTV ratio of 105 percent.
• The mortgage must be a fixed-rate mortgage secured by a 1-unit property other than a manufactured home.
• Maximum debt payment-to-income ratio of 43 percent for manually underwritten mortgages.

FHA Insurance Reduced by .5%

Beyond the new down payment option from the FHA, President Obama announced yesterday that the FHA would be reducing their annual mortgage insurance premium from 1.35% to .85%. This change will result in a nine hundred dollar per year savings for the average new borrower.

And, with this additional money in their pocket, borrowers should now be able to afford more house for their money. This will most likely help first time home buyers in places like Loudoun, where the average home price hovers around $460K, thus placing a large upfront and monthly burden for a new homeowner.

Have Questions? We can help!

For many home buyers, financing homes can be scary and a daunting process. The good thing is that when you work with the Bush Realty Group, you get the benefit of a relationship with Mclean Mortgage and Champion Title, to make the finance and closing process an easy one.

If you have any questions regarding these changes, or if you are thinking about buying a new home and want to know what you would qualify for, contact Melissa at Mclean Mortgage or Nicole at Champion Title, and they will be happy to help you navigate these changes.

Special Note:

Since Western Loudoun is considered rural, there are some options through government sponsored programs that might allow for 0% down. Melissa at Mclean Mortgage has details.