First Time Home Buyer Programs NC

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 Score.com” 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 […]

How to Write a Contract With A DAP

How to Write a Contract With A DAP, NC Mortgage Experts

First off – A DAP is the “mortgage babble term” for Down Payment Assistance Programs.  These programs USE to be funded by a SELLER paid contribution – these days, however, “the Home Seller can only help buyers pay closing costs by giving a portion of their proceeds back to the buyer at closing, in the […]

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 […]

Mortgage Credit Certificate Income Limits Per County in NC

Morgage Credit Certificate Income Limits Per County in NC

NCHFA offers a great program that allows us to give you a credit for having a mortgage, and the credit generally allows us to qualify you for a little bigger home. The Income Limits for the County you are interested in buying a home in may have changed in 2015.  This is the most up […]

Single Income First Home Buyer

Single Income First Time Home Buyer

We have a pretty big past customer base that consists of Single Female Home Buyers.  That surprises some folks we talk to, because the commercials and ads for real estate companies and mortgage companies show TWO people buying a home!  What if you are ready to go it alone?  Is that even possible?  “Home ownership is […]

Seller Paid Closing Costs in NC 2015

Seller Paid Closing Costs in NC

We are seeing a paradigm shift, regarding Seller Paid Closing Costs in NC – that WE’VE never seen before.  I’ve been in the Mortgage Business, in North Carolina since I was 15.  If I say I’ve NEVER seen something before – it’s worth noting… even if you don’t want to buy or sell a home. Because […]