Basics of Buying in Smith Mountain Lake

For first time home buyers, purchasing a home can be one of the most exciting and scariest things they will ever do. But, with a good real estate agent at your side, it should never be confusing! One of the most common questions first time buyers have is, “What is it I am paying for at closing?” Let’s take a look at the basics of buying in Smith Mountain Lake.


One of the first things you'll see at closing is the information concerning your mortgage. Some mortgages have something called “points.” Points are simply a fee that you pay upfront so you can receive a lower interest rate for the life of your loan. Basically, you are paying a portion of interest upfront.

How Points Work

Let’s say you are borrowing $100,000 for your new home. Your lender has set up your loan with a low interest rate and one point. Usually each point is 1% of your loan value. That means you will bring $1,000 to closing to cover the point. It may seem like a strange way to save money, but if you are staying in your home for more than five years, the money you save on interest will be greater than what you paid at closing. Not to mention that your monthly payment will be lower!



Fees, What Fees?

Another thing that helps make up your closing costs are fees. Most fees are related to getting your mortgage in place. Often, the title company will do a search to make sure the title to your property is clear. Also included in these fees are such things as appraisals, and the costs of processing and underwriting the loan. Be aware: some lenders may advertise low closing costs but have a much higher interest rate. Do your homework and find what works best for you.

Speaking of Interest

The last thing you want to make sure is correct at closing is the interest rate you secured with your lender. Normally, you will have already “locked in” a specific rate. You can lock a rate for 15, 45, or 60 days. The longer you wait to lock the rate, the higher the interest rate may be.

This is just some basic information on what makes up your closing costs. With interest rates low, it is still a great time to buy that waterfront property in Smith Mountain Lake! If you are ready to make the area your home, call Vicki Millehan! Her team can help you find a home in the beautiful Blue Ridge Mountains!

Smith Mountain Lake: Not Just a Summer Thing!

Smith Mountain Lake is well known for its weekend getaways and as a summer vacation hotspot. But with its temperate climate, the region has grown into a year round travel destination boasting a growing residential community. A true “Four Season” community whose shorelines, services, amenities, and attractions create the perfect place to visit and live!!




There is no doubt Smith Mountain Lake has four seasons. Boating is most popular from the early spring all the way to the colorful days of fall. The brave of heart can even venture out on the lake in the winter. The average temperatures in January are highs in the mid forties to lows in mid twenties. The Lake does not freeze over, so about the only thing you can't do on the Lake is ice skate!



In the crisp spring air you will see flashes of colorful phlox and bright jonquils! Azaleas will begin to put on their yearly show of brilliant colors. Then as spring gives way to summer, the lake becomes a flurry of activity. With perfect temperatures of the mid to upper 80’s during the day and lows in the 70’s at night, it is hard to beat Smith Mountain Lake in the summertime! That is until you see the fall foliage!! Many people come to the area just to drive the Blue Ridge Parkway and enjoy autumn’s display! Finally as the hustle and bustle begins to slow down, a light dusting of snow puts everyone in the Holiday mood!



With such a wonderful climate, wineries and orchards love the 180 day average growing season. Some of the best wines in the country are made right here in Virginia! It is easy to fill your table with the bounty of the area at the local farmers markets! Spring through winter, Smith Mountain Lake is a wonderful place to live and visit! It is not just your usual summer vacation fling!



The invitation is open all year round! Come for a visit, if you like it, then move here! When you are ready to buy your own lake front property, call Vicki Millehan! A local real estate expert and resident of Smith Mountain Lake!!

Dinner On the Water at Smith Mountain Lake

You know it is not just anywhere you can jump in your sailboat as the sun slowly settles in the west and head to your favorite restaurant. Fortunately Smith Mountain Lake IS one of those places. There are over a dozen restaurants that not only serve your dinner lakeside, but even allow you to enjoy the water on the way! Boating to the restaurant brings a whole new meaning to “dinner cruise”!

If you are out on the water and want to grab a quick lunch, not a problem!! Head over to Bridgewater Plaza, West of Marker R-28. The choices range from sandwiches to Chinese food. If your idea of irony is eating a submarine sandwich at the lake, you can pull up to the dock at the Bridgewater Plaza and grab a sandwich from Moosie’s or the Mouse Trap! If you are craving pizza, that’s covered too. Just head over to the Pizza Pub and enjoy your lunch while gazing at the water! Chopsticks have you covered for Chinese food and lunch buffet. Are ya getting hungry yet?

Kings Point Pub can be accessed from Lake Haven Marina. Their menu ranges from Guinness Pie to Seafood. There are so many choices there is not room to fit them all! From Mexico Viejo to Marina Café at Mitchell’s Point, there are a range of style and prices available to you with boat access. You can find more information here!

Now let’s get back to that evening cruise to dinner at sunset!! At Smith Mountain Lake you can enjoy a sunset cruise to fine dining!! Just East of Marker R-11 you can dock at the Sportsman Marina and make your way to Sportsman Inn. Here you can dine with a view of the water. If you head West of Marker R-11, you will find the Landing Restaurant. Both of these restaurants offer fine dining and Gourmet food to enjoy while you soak in the beauty of the Blue Ridge Mountains!! There are not a lot of places on earth you can find that!!

From fine dining and luxury homes to afternoon sailing and pizza, Smith Mountain Lake has something for everyone!! Come take a “dinner cruise” on the lake and if you like it, then move here! If a new home is on the menu for you, Vicki Millehan is a local expert who can help you find what you are looking for! From winery to lakefronts, there is something to satisfy almost anyone in Virginia!!

Treat Dad on the Trail!!

This weekend treat dad on the Bedford Wine Trail!! Spoil him with wine tasting at the Father's Day Celebration at the Peak's of Otter Winery on June 20th and 21st. If Dad loves the outdoors you can take him to Hickory Hills Vineyards and Winery where he can hike the beautiful Nature Trail, sample wines and even receive a free gift just for being the World's Greatest Dad!!
Of course, the other wineries on the tour, including Savoy-Lee, Leo Grande, and White Rock Vineyards, offer a great afternoon of tasting in a picture postcard setting. If Dad has enough ties and golf balls, the Savoy-Lee is for sale and would make a great gift!

If your father is more into history or cultural events Bedford Wine Trail delivers!! You can bring him to visit the National D-day Monument or he can enjoy one of several interpretations of the natural and cultural history of the Southern Appalachians. If Dad’s passion is music, you can take him to enjoy World Renowned Guitarist Peter Fletcher at the Bower Center. There is so much to do on The Bedford Wine Trail that you may have to come back and indulge YOURSELF once you have shown Dad his special day!!!

As a trail traveler you can enjoy beautiful vistas of the Blue Ridge Mountains and Smith Mountain Lake. It doesn't matter if you are interested in complete weekend getaway or just a day trip; Bedford Wine Trail has it all! You can visit Historical Sites or indulge in internationally acclaimed cultural events. The Bedford Wine Trail is a beautiful place conveniently located only four hours from Washington D.C. and Northern Virginia, three hours from Richmond, Virginia and Raleigh, North Carolina and only two hours from Greensboro, North Carolina.

A word of warning, this area of Virginia is beautiful! You may find yourself longing to immerse yourself in the region. We have a saying around here, “if you like it, move here!” If you find your heart intoxicated with the atmosphere you can find on the Trail and surrounding towns, contact Vicki Millehan and let her get you that Smith Mountain Lake-area home you’ve been dreaming about.