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Reality Realty Virginia Heroes FHA Lending Changes Update

by Sam Cachola


Stay on top of Lending Changes. FHA changing the requirements:
Effective for all FHA Loans with Case #’s issued AFTER April 1st, 2013.
Affects all traditional 3.5% down FHA purchases.
Old Guideline:  Monthly PMI - 125 BPS – Cancelled at 78% LTV & 5 years
New Guideline:  Monthly PMI – 135 BPS –PMI to remain for life of loan !
Yes. It’s true. April 1. That’s the date set by FHA to raise mortgage insurance premiums again. If you are working with FHA borrowers who are thinking about purchasing a home, moving now would make sense with rates rising and FHA set to raise premiums.  This increase will cost the average FHA borrower more than $150 per year and those who purchase homes and make application before this date will be eligible for the lower mortgage insurance costs.  
FHA is also increasing down payment requirements for certain loans in the next few months. It would also be wise to see if your clients qualify for a low down payment alternative for FHA financing. If you would like more information, please contact me.
FHA faces a $16.3 billion deficit due to a rise in delinquencies over the last few years, particularly among loans that originated during the housing bubble from 2007 through 2009. FHA is a big contributor to first-time home buyer funding. It insures about 1.2 million residential loans, which is about 15 percent of all U.S. home loans.
The number of loans it insures has increased dramatically over the last few years. In 2006, FHA insured just 5 percent of the all U.S. home loans. FHA is federally mandated to maintain a 2 percent capital ratio—a target it has yet to reach in four years. Its current ratio is negative 1.44 percent, according to a recent audit of its finances.

Wounded Warriors Supported at Fredericksburg Baptist Church!

by Sam Cachola

Fredericksburg Baptist Church Support our Wounded Warriors


"Recipient of the 2013 Entrepreneur Of The Year Award"

Reality Realty's MLS Smart Phone app voted number one Real Estate app in Virginia! Download now and get direct access to the same systems all brokers use!  Text message to 87778 with 1VAMLS in the body of the text message will receive a reply with a link to download the #1 Rated Real Estate App in Virginia! Plug in now and get the information and service you deserve! 


New Chem-Dry Franchisee to Use Profits to Support Fellow Veterans

Retired Army Sgt. Chad Yancey opens Chem-Dry carpet cleaning franchise in Stafford, Va.

STAFFORD, Va. — A veteran who medically retired from the U.S. Army in 2012 is launching a new business — one that will support not just his family, but also his fellow soldiers.

Sgt. Chad Yancey, 29, launched Honor Chem-Dry carpet cleaning franchise on Feb. 11 to serve Stafford, Manassas and surrounding areas, and he plans to donate 10 percent of his profits to veteran organizations, with the money to be split between Wounded Warrior Project and Disabled American Veterans. His business number is 571-989-3039, and customers can book online

Yancey found his way to Chem-Dry through a career transition program offered by the Army.

“I took a class on franchising, what they were, how they have an increased success rate, and how their training and systems lend themselves to military members, and I was really intrigued,” he said. “I liked the idea of starting my own business and spent a year researching the franchise industry and found a few that had a compelling return on investment, including Chem-Dry.”

Founded in 1977, Chem-Dry is the world’s leading carpet and upholstery cleaner, serving 10,000 homes a day. Its highly ranked franchise system, which consists of 3,500 units, extends worldwide.

Yancey thinks Northern Virginia customers will appreciate the healthier — and more thorough — carpet cleaning that Chem-Dry offers. Chem-Dry’s hot carbonating extraction method uses 80% less water than steam cleaning, and its primary cleaning solution, The Natural®, is green-certified and does not contain phosphates or detergents, making it safe and non-toxic for kids and pets. In contrast, steam cleaning uses soaps and detergents that can leave behind a residue that can trigger allergies and attract dirt, and the excessive water used in steam cleaning creates a breeding ground for mold and mildew.

“Everything about it makes sense,” Yancey said. “I couldn’t be happier with my purchase. The training and quality of the cleaning has really blown me away. I’m used to being part of an organization that is the best in the world, and I’m proud to be joining another one that is excellent.”

Yancey, who is married with a 2-year-old son, already has plans to expand to the south as his new business takes off, and he looks forward to employing veterans while helping others through his charitable efforts.

Dozens of veterans have used Chem-Dry to embark on new careers, and the company offers franchise discounts to those who have served. For more information, visit

Media contact:

Chad Yancey

Honor Chem-Dry


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Contact Information

Reality Realty Professionals, LLC,
Sam Cachola Broker/Owner
44 Mine Rd Suite 2-169
Stafford VA 22554
Cell: 703.785.1158
Office: 540.628.0028
Fax: 703.842.8005