relocating to Portsmouth (Chesapeake, Hampton, Suffolk: low crime, mortgage broker, credit score)

[relocating_usa]

We are about accept a job offer as a civilian with the navy. What are the main benefits we should be aware about when working with the government? Are there good home loans we could apply for?
Also, we have 4 little kids. We are concerned about neighborhoods and schools. We wouldn't mind going rural a little, but close enough for the commute to Portsmouth. Any suggestions? Suffolk, Chesapeake?

[frogbiscuit]

Churchland's not too bad, so is the Western Branch area of Chespaeke and Northern Suffolk.

In order I would rate them Western Branch, Suffolk, Churchland. The cost of living is going to be higher in WB and Suffolk than it is in Churchland as well.

[relocating_usa]

Thank you! how about schools for the kids?

[stacylee926]

I live in Churchland and my son really likes Churchland High School. Elementary is fine, and the middle school is just so-so. (however, middle school is only 2 years and worth it to go to the high school).

Western Branch schools are all located together. They are all good schools.

Not exactly sure about the Northern Suffolk schools, but I do really like that area - more rural, yet close to everything and low crime.

You will not be unhappy in any of this general area. I do like Churchland for it's quiet SFH neighborhoods - they are quiet and well established. Some neighborhoods are better than others though - stay away from the DMV area (which is really only a few blocks around it.)

Also, any of these areas will be a relatively traffic free commute to work.

[theok]

I personally love Northern Suffolk. It's a quiet and safe area and you're able to get a lot of house for the amount of money invested. You can find beautiful 6 bedroom homes for around $350K which is impossible in most other cities in Hampton Roads. And a 6+ bedroom home is probably a must since you have four little ones running around. If you're not retired military then you'd have to go the FHA or conventional home loan route. Fha loans require a 3.5% down payment and are typically easier to qualify for compared to the conventional loan. The down payment requirement for conventional loans varies depending on the borrower and their financial history. Mortgage brokers mainly look at how much you make compared to how much debt you have. Also your credit score is a key factor. If you have a credit score of 620 or lower then your chances of getting a loan are very low. I personally like the web site bankrate.com. It gives you three different mortgage quotes from local lenders. It's a good place to start when you're trying to figure out how much house you're able to afford. I'm a realtor so if you have any questions just let me know. Theo