First Time Home Buyer Programs NC

First Time Home Buyer Purchasing Plan

first time home buyer

Many of the First Time Home Buyers we are talking to just want us to help them with a plan.  What makes sense to do during the 4 or 5 months prior to buying a house…  What kind of savings do you need, how do you figure out where you want to live, how do […]

Freddie Mac Non-Owner Occupied Co-Borrower Program NC

freddie mac non_owner_occupying_co_borrower

While Freddie Mac has allowed a non-occupying co-borrower to help a family member buy a house in NC – it’s been difficult to get these loans approved.  Even on a primary residence purchase transaction, or for a rate term refinance, it was impossible to make it work, simply because PMI /mortgage insurance was not available […]

Complete Mortgage Application Checklist

mortgage loan application checklist

When you apply for a mortgage there’s a short list of stuff we’re going to need to see… and then, as we get further into the Mortgage Process, that “Scavenger Hunt” list of items we want to see gets longer, and longer.  Depending on the Type of Mortgage you are applying for, the COMPLETE Mortgage Application […]

Millennial Renters Ready To Buy A Home

Millennial Renters now first time home buyers

There are so many Economic reports that come out, sometimes it is difficult to read “between” the lines, to understand what they are really saying.  I just read an article by  Dr. Anthony B. Sanders, Distinguished Professor of Real Estate Finance at George Mason University in Fairfax, Virginia. In it, he pretty much says that Millennial […]

Tax Credit For First Time Homebuyers in NC

Tax Credit For First Time Homebuyers

In North Carolina, we have multiple programs available to help First Time Home Buyers qualify for a home.  Not all mortgage loan offices participate with the programs, they can be a little complicated. We do MANY of these loans every month, in fact, we just helped our son buy his first home using a Tax […]

Newlyweds Buying A Home in NC How Title Works

Newlyweds Buying A Home in NC How Title Works

Are you getting married, AND buying a home in NC?  Many people are looking at ways to incorporate these two big steps into a quick step in NC – and they are opting to get married and buy a house within weeks of each other. Many times folks get a “picture” in their head of […]

Stop Renting – Buy Now

Tired of Renting? Buy a House!

Are you tired of having to clean up after roommates?  Tired of trying to find a parking space, or all of the music at all hours of the night coming from the unit above you??  Tired of Renting?  Buy a House! Then take the Percent that the North Carolina Housing Finance Agency and the State of […]

Government Mortgage Loan PMI Rates

pmi rates

The FHA Mortgage Loan Program, the Veteran’s Administration and the USDA Home Loan Program do not ACTUALLY make loans.  They simply insure the bank against default, they issue underwriting guidelines to tell the banks which loans they WILL insure and which ones won’t cut the mustard.  Those guidelines are loosely used by Banks, with many […]

How PMI Is Calculated – New PMI Rates

How PMI Is Calculated - 2014 PMI Rates

There are currently five options for structuring PMI on a mortgage loan, and frankly, that number is on the rise.  “PMI” is actually Private Mortgage Insurance.  It’s the insurance that’s charged on ANY mortgage loan where there’s less than a 20% down payment made. Because of the number of ways that PMI is Calculated, and […]

Conventional NCHFA Down Payment Grant Program

Conventional NCHFA Down Payment Grant Program

Many of the New Home Communities popping up around North Carolina do not fall within the USDA RD Home Loan program footprint. This means that potential Home Buyers can not take advantage of the USDA Home Loan NC program that requires no down payment. The NC Affordable Housing Agency in Raleigh just rolled out a […]