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FINANCING YOUR HOME

Make every penny count

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Buying a new home is more than just deciding where you want to live. The process is an intricate interplay of many factors, including—at its very foundation—how much home you can afford. To help find your perfect solution, Van Metre brings you the convenience of our wholly-owned lending affiliate, Intercoastal Mortgage, LLC (ICM). With up-to-the-minute, highly competitive financing options and a dedicated Loan Officer to help you along the way, you have every reason to take advantage of this simple, one-stop shopping.

As a direct lender, ICM controls the process from start to finish. With decades of experience, their veteran team of loan officers and mortgage professionals are equipped with unparalleled levels of expertise, second to none.

THE ICM ADVANTAGE

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Click below to connect with an Intercoastal Mortgage Loan Officer to get your questions answered and see what's possible.

(703) 449-6800

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The ICM Advantage

As a trusted mortgage partner, Intercoastal Mortgage is committed to providing the highest level of customer service. Utilizing strategic innovation and teamwork, ICM makes the home buying process simpler, faster, and more accessible.

Interested in a new home but worried that interest rates may increase during the construction process? Take advantage of ICM's rate lock program offering protection for up to 350 days.*

With a variety of Fixed Mortgage Rate, Adjustable-Rate Mortgage (ARMs), and Construction/Renovation Lending options, finding the perfect financing option for you is easier than ever before.

Available for select Van Metre products and communities, gain peace of mind with closing cost assistance programs that allow you focus less on closing the deal and more about moving into your new home.

Prior to purchasing a new Van Metre home, enjoy support from a dedicated Loan Officer specifically selected to help Van Metre customers. From questions to concerns, they are here to help you through the process.

Estimate your tax savings with homeownership

Interested in seeing how owning a home could produce tax savings? Take a look at Freddie Mac’s Homeownership Tax Benefits Calculator to visualize your estimated yearly tax savings during the duration of your loan term.

TAKE A LOOK

Your Questions, Answered

Intercoastal Mortgage has been in business long enough to know that talking finances can be intimidating. Here are a few of their most frequently asked questions, answered just for you.

When is it appropriate to engage Intercoastal Mortgage about financing a new home?

As soon as you start to consider purchasing a new home! The first thing to do is to get pre-approved—this way, you know what you qualify for, your expected payments and the total cash needed for anticipated closing costs and down payment.

What is the difference between a Pre-Qualification and a Pre-Approval? Should I get both?

The terms “pre-qualification” and “pre-approval” can be used interchangeably. When Intercoastal Mortgage qualifies a client, you are asked to complete a full application and provide income and asset documentation while a credit report is run. Pre-approval terminology is applied when Intercoastal Mortgage has collected the application, reports, and documentation.

How long does a mortgage approval last?

Mortgage approval timelines are variable. Pre-approval or pre-qualified documentation is a spot check-in time; they are not commitments to lend. Changes to your situation or interest rates can alter the once-approved or pre-qualified borrower. With Van Metre, Intercoastal Mortgage looks for the maximum rate you are qualified for based on purchase price and loan program.

What is included in my monthly mortgage payment?

Your monthly mortgage payment includes principal and interest, real estate taxes, homeowner’s insurance, and mortgage insurance depending on the down payment and loan program type. Your HOA fee is paid separately to the Homeowner Association.

When I'm ready, how do I apply for a mortgage?

To apply for a mortgage, reach out to Intercoastal Mortgage and a Loan Officer will provide a link to a secure portal for an online application. The online application will prompt you to upload income and asset documentation securely. Generally, within one business day, the Loan Officer will reach out to request more information or to begin running detailed options and scenarios given the application.

What is a fixed-rate mortgage?

Fixed-rate mortgages are highly desirable because the interest rate never changes for the entire life of the loan. Intercoastal Mortgage has a variety of fixed mortgage programs you can choose from, including:

FHA loans*
Jumbo programs
Traditional conforming loans
VA loans*

If you’re looking for a loan that requires a steady payment each month with no surprises, a 30-year fixed-rate mortgage is a great option. If you can afford to make higher monthly payments and want to pay your home off sooner, terms are also offered as short as 10 years.

*This product or service has not been approved or endorsed by any governmental agency and this offer is not being made by an agency of the government.

What is an adjustable-rate mortgage (ARM)?

Adjustable-rate mortgages (ARMs) can be a great solution for homeowners that want to live in their current property for a short period of time (less than 10 years). Adjustable mortgages typically offer lower interest rates for a predetermined period, after which they can increase. Intercoastal Mortgage's ARMs have fixed-rate periods from 3 to 10 years. Since ARMs are riskier than fixed mortgages, they will provide you with the information you need to decide whether this loan type is the best choice for you.

Which type of loan is best for me: CONV, FHA or VA?

One loan doesn’t fit all. The best loan for you depends on various factors. During the pre-approval process, the program that best suits your needs will be determined based on your specific scenario.

What additional costs or payments do I need to consider before closing on a new home?

Additional costs or payments are dependent on your loan program. Everything is specific to you, your loan program, purchase price, and down payment chosen. As part of the pre-approval process, Intercoastal Mortgage provides a detailed view of all estimated payments so you know exactly what to expect regarding total costs.

Can I refinance after I settle on my new home?

Absolutely! No loans offered by Intercoastal Mortgage have prepayment penalties. You can refinance, payoff, or pay down your mortgage whenever you want.

Find a Loan Officer

Intercoastal Mortgage can work with you on getting pre-approved and provide a monthly payment estimate based on your needs. Schedule a time to speak with a Loan Officer dedicated to the community that you are interested in.

Have questions before speaking with Intercoastal Mortgage?
Contact Van Metre's Online Sales Concierge team.

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