First Time Home Buyer Programs NC

Student Loan (IBR) and Mortgage Qualification

Student Loan IBR and Mortgage Qualification 2014

We’ve had a ton of questions from folks, looking for information about their Student Loans, and how the payments on the deferred student loans, and IBR Student Loan payments will be looked at when they are applying for a mortgage.  Unfortunately, these questions are pretty difficult to answer in any “broad” way…  because every mortgage […]

TRID And The Mortgage Process October 2015

TRID Mortgage Process Times

TRID is a new Financial Services Disclosure that will go into effect on October 3, 2015.  It’s a pretty massive change, and TRID is going to change dramatically the way the mortgage process works. The best way to describe the change is to say that a while back, you could go to the Airport, and […]

Student Loans in Forbearance and Mortgage Approval

Student Loans in Forbearance and Mortgage Approval NC

I’ve been asked recently about the difference between Student Loans that are Deferred, and Student Loans in Forbearance and Mortgage the Approval process. Both student loan deferments and student loan “forbearance’s” give you a break from monthly payments for a set period of time. There are situations where you might need a Forbearance, because you’ve […]

Fannie Mae Update: Deferred Student Loans Conventional Mortgage


Fannie Mae is one of the “Big Dawgs” when it comes to Conventional Mortgage Loan Underwriting Guidelines.  If they say something will work, most lenders / banks will follow that lead and approve loans based upon the Fannie Mae Guidelines.  Deferred Student Loans Conventional Mortgage Approval requirements recently changed… for the GOOD! Fannie Mae changed […]

How to Read The Property Condition Rating On An Appraisal

Property Condition Rating on an Appraisal

The Appraisal Report is given to everyone who is applying for a mortgage loan, but the type of report can vary based upon the type of mortgage you are applying for.  The Standard “full blown” appraisal report contains tons of important information on the front page – but most folks simply flip to the 2nd […]

Home Buyer Motivation

fist time home buyer inspiration

We talk to “Fence Sitters” everyday. That’s part of the Mortgage and Real Estate Business – talking folks off that fence, assuming it makes sense for them to do so. In many ways, you need to be part Authoritative Consultant, part Motivator, and part Coach to be successful at our job.   We are actually […]

Credit Score Basics – For First Time Homebuyers

Credit Score Basics for First Time HomeBuyers in NC

For instance the “Free Credit” jingle that folks listen to, and then PAY for doesn’t have a matrix that is anywhere close to the “Mortgage” matrix we must use to score you! We’ve seen many people who thought their credit score was “up” to 640 – when we pulled it and found that the score was actually 618, the customer thought we were crazy! We weren’t… there’s just a difference between a Mortgage Report Score, A Medical Credit Score, and a Retail Credit Score.

Reporting Gift Funds for Downpayment

Reporting Gift Funds for Downpayment

We get questions all the time from folks who want to understand WHO can give someone a gift for a down payment on a home.   We also get a ton of questions about reporting Gift Funds for down payment.  “Do Banks report all of these transactions to the IRS, ” I was asked this week.  […]

3 Questions: Rent Versus Buying a Home in Raleigh Now?

rent versus buying

We talked to a buyer recently who was trying to compare currently rental payments to a house payment.  As the conversation progressed we realized that this first time home buyer didn’t really have all of the information about rent versus buying. In fact, to make a fair comparison about rent versus buying, there are some […]

Deferred Student Loans and Mortgage Loan Approval 2015

Deferred Student Loans Mortgage Requirements

I would guess that 70% or more of first time home buyers we talk to these days have Student Loan Debt.  With the economic down turn, it seems to us that many families were forced to “dip” into college savings funds to make the month to month bills paid. Confirming that, over 40 million Americans […]