Maximum Income Requirements USDA in Wake County NC

The Raleigh / Cary markets are considered an MSA (Major Suburban Area??) by the Government.  So, in Wake County that’s how you will find the maximum income limits specified for Wake County. These numbers changed at the beginning of the year, and the new income limits (which are based upon the number of people in [...]

Cash Out of Home with FHA Refinance

Have you heard the joke about the way you see your house, and the way the tax guy sees it and the way your appraiser sees it?
Well, it’s pretty funny… because everyone has a difference perspective!
If you believe you have some equity in your home, and you would like to take cash out, FHA might [...]

USDA No Money Down Mortgage

We’ve helped many customers buy homes with an old program offered through the USDA… not farms… HOMES.
The Rurual Economic Development Fund is what it use to be called, now it’s just a part of the USDA, and the goal is to provide mortgages, and incentives for folks to purchase homes in less “densly” populated areas!
So, [...]

One Works at Bragg – One in Wake County!

We are working with a couple looking for property that will allow the Veteran to commute to Fort Bragg (in Fayetteville, NC) and the spouse to work in Apex, NC (Wake County).
Since we’ve been making mortgage loans for many years in the Triangle, this is not the first couple we’ve met who decide to purchase [...]

Qualify for VA Mortgage Loan

There’s the WHITE HOUSE, and then there’s that white house, with the picket fence and the dog out back, and a couple of shade trees where you can string up a hammock.
If you’ve been in the Armed Services, and you’re looking for that special house – you have a TON of things working to your [...]

FHA Refinance

Okay – so here’s something that will stump the loan officer. 
You bought a property in Feb. of 2008.  You got a Heck of a Deal – and you purchased the home for $237,000.  The appraisal in February was for $245,000 (and the appraiser thinks it’s worth more now).  The loan in February was a conventional [...]

The FHA Bailout Plan

Congress, and specifically the NC delegation and Rep. Barney Frank have a new plan to stop the “bleeding” for many American Families who are upside down in their homes.  This is really not so much a problem for those of us with property in the Triangle – but for folks moving here (and by my [...]

Step 1 of Homebuying in Cary

The pre-approval process is a simple one, and will provide you with the options which meet your payment comfort zone. The process generally involved calling us and talking on the phone for 30 to 45 minutes. After that conversation, we decide when we should meet in person.

Risk Based Pricing?

You are buying a home this summer and you are LOVIN’ Life!  Yippee!
Well, if you have credit scores over 640 – there’s more good news!  Effective July 14 FHA will move to Risk Based MIP and your cost of home ownership will be less!
So, what does Risk Based MIP mean and what happens if your [...]

No Credit? Think FHA!

Students are studying their way through college – not building credit…
Once you have a job, and you want to purchase a house, how do you create credit?
FHA allows mortgage lenders to accept loans from those who do not have a credit score. We are required to “build credit.”  This means that we need to [...]