FHA and NCFHA Loans
Could The New FHFA Head Change FHA PMI Endorsement Date?
There’s an interesting article out today by Christina Mlynski, discussing the new nominee for the Head of the FHFA. The Obama administration recently nominated NC Congressman Mel Watt for this job. It’s the MASSIVE Agency that resides over HUD, Fannie Mae, Freddie Mac – all things mortgage. Apparently, these are the guys who initially came [...]
FHA Mortgage To Purchase a NC Townhouse or Condo
If you are purchasing a Condominium in NC, and you are interested in getting a FHA Mortgage to help with that purchase, you need to check and see that the Homeowner Association (HOA) is already on the approved list by FHA. Townhomes also share similar risks as Condominiums, however FHA no longer requires documentation on [...]
FHA Condominium Approvals in NC
Many Condominium Projects in NC that were approved prior to 2011 have not had their approvals renewed. There are specific guidelines issued and documentation that needs to be updated for the Condominium project to get approval. Until that process is complete, projects that “lost” their approval are not eligible for FHA Mortgage Loans in NC. [...]
First Time Home Buyer Programs
Minimum Credit Scores for Mortgages Spring 2013 Update
For the past couple of years, when we talked to a borrower with a credit score of 580 to 600 – we told them they had a 3 to 4 month waiting period before they could buy a house. In MOST cases, that was all the time we needed to help someone who was motivated, [...]
What The 2013 First Time Home Buyer Looks For
First time Homebuyers in NC are an important part of the Real Estate Market Recovery. They allow folks who own a home, and need to move to a bigger (smaller) home the opportunity to do so. As those folks move out of starter homes into a larger one, the chain just gets stronger. According to [...]
Documenting Large Deposits for a Mortgage Loan
Many times we have questions from underwriters about deposits showing on a bank statement. Seems kinda silly at times… but they really do want to know where that extra $350 came from! If you are buying a house, and you are having a yard sale to try and raise a little extra cash – this [...]
Get A Tax Refund, Buy A House!
It’s that time of year! All of the Car Dealers are shouting “Take Your Tax Refund and Buy a New Car!” Wait! Don’t Do That! The slogan for First Time Home Buyers in NC should be… Get A Tax Refund, Buy A House! In another week, it will be April 15, 2013, and your 2012 [...]
USDA Home Loans
High Point North Carolina USDA Loans
USDA Home Loans in High Point, NC 27265 do not have a maximum loan amount – however, the property must be located within the USDA “Eligibility” area. Most of the city is located in Guilford County, with portions spilling into neighboring Randolph, Davidson, and Forsyth counties. High Point is North Carolina’s only city that extends [...]
USDA Loans in Belmont, NC
USDA Home Loans in Belmont, NC 28012 do not have a maximum loan amount – however, the property must be located within the USDA “Eligibility” area. Here are maps of the Gaston County area, remember that the “faint pink” parts on the map do NOT qualify for USDA Loans. All of the OTHER areas, however, [...]
USDA Home Loan Map Changes Available
We’ve known for a while that unless Congress votes otherwise – the USDA Home Loan footprint across the country is changing. This is a pretty major issue, because USDA Home Loans are only available to folks who are purchasing a home within the USDA “Footprint.” These are one hundred percent, no money down mortgage loans, [...]
Holly Springs NC USDA Map Changes 2013
We just received the updated maps for Holly Springs, NC that show the probable map changes to the USDA Home Loan Footprint. The Maps are currently scheduled to change on October 1, 2013. The changes are mandated because the Census maps for the area changed dramatically in 2010, and the area is no longer considered [...]
Follow Us!
We'd love To Connect And Answer Any Questions!