What Does It Mean When USDA Runs Out Of Money?

Every year Congress puts funds into the USDA Rural Development “Account” for them to lend out to home buyers.  It’s a great program that requires no money down (for program details click here)…
On March 11, 2010 Rural Housing folks announced that they will probably run out of money before the end of April.  What does [...]

Mortgages at Tax Time

If you are getting ready to do your taxes, and you are renting…
P-I-T-Y!  I mean really, Bro… too bad.
You are missing out on THOUSANDS of dollars! People who OWN a home, get tons of deductions you don’t… just for living in a HOME!  Haven’t you ever heard the saying, “Buy a House Get a Raise!”

Mortgage [...]

The First Time Home Buyer Tax Credit of 2010

Okay—so here’s why you REALLY want to buy a house in the first half of 2010…

Houses are C-H-E-A-P!  I mean CHEAP!! I’ve been in this business, in North Carolina decades, and I’ve never seen home prices so AFFORDABLE (read CHEAP!)!
Mortgage Rates are L-O-W! It does not look like this is going to continue to [...]

FHA Qualifying Requirements

Many of the folks we are talking with right now want to purchase a home using the FHA Mortgage Loan program – and then taking the $8000 Tax Credit (you can get that back NOW, like in 12 weeks, by amending THIS YEAR’s TAX RETURN!) to “pay yourself back” for the downpayment!
Here are qualifying requirements for [...]

Credit Scores and First Time Home Buyers!

How Credit Scores are calculated is changing, and the minimum scores required for mortgage loans are going HIGHER!  For information about “WHY” Credit Scores requirements are changing in NC, click here.
It’s important to know that Transunion began making changes to the way they calculate credit scores, and if you don’t change your credit strategy – you might not be [...]

First Time Home Buyers Get $8000 in NC

With the new programs adopted by the Government, there’s a great “gift” for First Time Homebuyers!
It’s a G-I-F-T from the Government, and unlike the $7500 credit given out in 2008, you do NOT have to pay it back, as long as you are actually going to live there for 3 years!
This makes getting a [...]

FAQ RE: Obama Loan Modification Program

The Obama Administration announced plans to allow for special considerations in cases for folks who are currently behind on their mortgages, and headed into foreclosure.  Those guidelines apply only to mortgages that are currently held by Fannie Mae or Freddie Mac – but could impact a significant number of people in NC.
Here’s a list of [...]

What Improvements Can You Make with a FHA 203K Loan For?

FHA has a great program to help with renovating a new home!  It’s called the 203K program – and if you’ve been on Craigslist, you’ve definately seen, “this property is eligable for FHA 203k loan!”
It’s a great program for making up to $35,000 of improvements to the home.  Many time, foreclosed property has what Realtors [...]

First Time Home Buyer Tips!

If you are a First Time Homebuyer, the government recently initiated a program that could help you!
They are G-I-V-I-N-G you a $8000 credit that you can use on your 2009 and 2010 taxes! For details on this credit, click here!
First Time Homebuyers have many loan program options.  If you, or your spouse, are a [...]

Stop Renting – Buy Now

Are you tired of having to clean up after roommates?
Then take the $8000 credit the government is giving first time home buyers – and BUY a house!
You have some great financing options (and YES we are STILL making loans to folks, and first time home buyers have the EASIEST qualifying of any group!):

FHA will allow [...]

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