Buy a House, Get a Raise! I’ve told people this for years, and they don’t always understand. You see, when you purchase a house, it gives you a tax incentive, and so if you are paying $1200 a month for a mortgage payment you are likely writing off at least $400 a month in interest and taxes!
So a house / mortgage payment of $1200 does not compare with a rental payment of the same thing! Nuying a house can be an emotional experience, but there are benefits to homeownership too!
There are some GENUINE Deals out there when it comes to purchasing foreclosed property- HUD has a program that only requires $100 downpayment! There are special First Time Home Buyer Programs too!
In addition to that – Did you know that rental history is not adding anything to your credit score??? Home-ownership does?
In general, your landlord does not report to the credit bureau unless you’ve screwed something up! A mortgage company, reports an on time, monthly installment debt. This can be a HUGE lift to your credit score! 8o))Just one more reason to call us about purchasing a home in NC! Steve and Eleanor Thorne, Mortgage Banker at 919-649-5058.





If your trying to decide what to do with all that cash Washington is sending you in the next few weeks… you might also be looking at your credit report to see how to use that money more effectively.
Does your credit look like a train wreck? I’ve talked to several clients recently who hit a rough spot – and are working their way out. They had some questions I thought other people might need answered too!
Let’s say you are ready to purchase a home in NC, and you meet with a loan officer… and they say that your credit score is 610. ARRRGGH! Depending on the mortgage loan that you are applying for, you are probably JUST UNDER the score you need! Now what do you do?




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