First Time Home Buyer Purchasing Plan

Are you trying to purchase a home and take advantage of the new Tax Credit??  Well, you’re not alone, and as a First Time Home Buyer… the task is now even more overwhelming because of the number of foreclosures, short sales, and standard sales available. Each of these types of sale [...]

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 Has Problems According to CBS Report

This news report last night on CBS about FHA was interesting!
FHA / HUD does not make loans, they only insure them. It’s one of the BEST programs available to first time home buyers!  Yes, there are people who are defaulting on loans… at a rate of around 9%… But that’s roughly what Un-employment is right [...]

5 Things First Time Home Buyers Should Know!

So you’re ready to move out on your own, and Kiss Your Landlord Good-bye?  CONGRATULATIONS!
Here are FIVE THINGS we think every First Time Home Buyer should consider before making that move:

When you buy a House – you get a Raise!  Uncle Sam definately sees benefits in having homeowners, so you get to “write off” the [...]

Could FHA Force Green Homeownership?

HUD is required to report back to the White House it’s Greenhouse Gas Emmission reduction suggestions by January. Since there is pressure to show large increases in energy efficiency and corresponding decreases in pollution and greenhouse gas emissions… could this move HUD toward imposing “green” standards on federally-assisted programs like FHA?

VA Loans – Cheaper if you make a Downpayment

If a Veteran can put a down payment on the home, the funding fee is reduced. For regular military, the funding fee on a 95% loan is only 1.5% and 1.25% on a 90% loan. Reserve members pay 1.75% & 1.5%, respectively.

There’s no MONTHLY fee – which is why it is cheaper than FHA or often times, Conventional PMI.

Condominium Loans and FHA Mortgage Changes

FHA announced new guidelines that will effect Condominiums beginning this fall.  With their mortgagee letter, HUD (which governs the FHA Mortgage Loan program) changes the Spot Approval process, so that mortgage lender’s will be required to look at the overall “health” of the project. 
You’ve read the news – massive numbers of people are behind on their mortgage payments.  Guess [...]

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 [...]

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