FHA and NCFHA Loans
After Foreclosure – Can You Buy Another Home?
If you are one of the millions of families that lost their home in the last couple of years to Foreclosure… you might think… Been There – Done That You might not want to own a home again! But if you’re one of those folks who truly does want to purchase again, here’s some potentially [...]
Can You Refinance To The Lowest Mortgage Rate?
Mortgage Interest Rates are at ALL TIME lows, and many of the people calling us want to know if it’s even possible to Refinance these days! The answer is maybe. If you are looking for a “rate term” meaning no cash out – and you haven’t missed any mortgage payments in the last 12 months [...]
FHA Seller Repairs Required
If you are interested in purchasing a distressed home, or one that’s been foreclosed upon, it probably has some “deferred maintenance items” that need to be done. Getting the Seller to DO those items, however, is normally difficult. So the question becomes, what will FHA let you leave undone, while still giving you an FHA [...]
Housing News
First Time Homebuyers – Don’t Just Check On The Rate!
There are tons of first time homebuyers out there negotiating the best deal on their new home, and now it’s time to get a mortgage. Most of them only know how to ask one question: What’s the Rate? We’ve been in the mortgage business for over 20 years – and the only thing most [...]
Mortgage Programs To Purchase Foreclosed Property
There are tons of people who know that we are at or near the bottom of the real estate market, and they are ready to purchase a home. Many of the folks we are talking to are looking at foreclosed property, because they believe they can get the best deals. There are some special points [...]
Documenting A Mortgage Loan in 2012
Yep – We’ll Take a Thumbprint of Your Second Child, Too If you purchased a home in 2006 and find yourself in the enviable position of purchasing again now… you might be surprised by some of the ways the mortgage process has changed. Oh Sure… you’ve heard that it’s hard to get a mortgage, but [...]
Seller Paying Closing Costs For Your New Home?
Sellers can pay the closing costs for the buyer in many cases – however, just like everything else associated with getting a mortgage these days, you need to know the rules, to be sure the underwriters will accept it! Ignorance of the rules can turn a seller contribution to closing costs into a Catch-22. Why [...]
USDA Home Loans
NC Counties That Qualify for USDA Home Loans
My daddy always says that we “Get Rural Fast” in North Carolina… one minute you can be neighborhood after neighborhood, and 25 minutes later you are in the country! This works well for those who are looking for a home with no down payment requirements! Every square mile of 73 North Carolina counties qualify for [...]
USDA Home Loan Change in PMI 12/11
USDA notified us that they are once again changing their “PMI” for their Home Loan Program. USDA, like FHA and the Veteran’s Administration don’t actually “make” the guaranteed loans, they just insure the lender against default. That “default” insurance is just like PMI, and unless you are putting at least a 20% down payment – [...]
USDA Rural Home Loans in North Durham
We get many calls from folks who love living in Durham, and want to know if they qualify for a USDA Home Loan. It’s often not a question of the home buyer qualifying for the program – often times, especially when it comes to Durham, there are few HOMES that qualify! USDA RURAL Home Loans [...]
Home Inspection Reports Causing Headaches at Closing
Many home buyers get a home inspection prior to purchasing a new home in NC. We think that’s a great idea, but recently, we’ve run into some last minute problems that you should be aware of! (ESPECIALLY if you are applying for a USDA RD Loan in NC!) We first saw this problem last fall [...]
Follow Us!
We'd love To Connect And Answer Any Questions!