First Time Homebuyer Cary

Step By Step : Buying Your First Home in NC

So You Want to Buy A House? Relax! Breahe! You CAN DO THIS!! We’ve helped hundreds of families in North Carolina purchase their first home! This can be a little overwhelming, but it doesn’t have to be! Here’s our guide for purchasing a home in NC.

Step by Step Homebuying

Step 1. Financing… Remember these words, “First the LOAN, then the HOME.” In today’s faced paced market, “ball parking” your price range with someone is good, but you MAXIMIZE your buying power by being PRE-APPROVED with a Mortgage Loan Consultant FIRST. The pre-approval process is a simple one, and will provide you with the options which meet your payment comfort zone. THEN you are better equipped to meet with a Realtor and find the most house for your money. Because multiple offers come in on the same home, a PRE-APPROVED buyer has a better chance of being the new homeowner!

Step 2. House Hunting… Now that you and the agent know your budget, there are still questions about family, hobbies, interests, floor plan layouts, decorating tastes, schools and LOCATION which must be addressed. Once these questions are answered, then you can see what is on the market. In some prices rages, there are more buyers than listings and that is where your patience and the Realtor’s persistence come into play. With today’s technology, Realtor’s have access to the constantly changing market which helps them keep an eye out for houses that meet your needs! [Read more...]

Slow Credit and FHA

first time homebuyer cary It takes a certain amount of courage to purchase your new home… I take that back. The actual BUYING and picking out a home is a BLAST – it’s that first time sitting in the lobby waiting for the loan officer – or that first phone call with the guy that holds your future in his calculator… especially if you’ve had some credit Boo-Boos! that can be kinda’ shaky!

If you call us, we are probably going to talk to you about an FHA loan. The FHA Loan program was designed for first time home buyers, and since very few of us had a manual on how to handle credit when we were growing up - FHA Guidelines regarding credit are fairly… “understanding.”

Even if you’ve had a bankruptcy, it’s fairly easy to qualify for a FHA loan once you’ve been dismissed. Part of the reason for this is that the government is backing these loans – so they are not risky sub-prime loans, and they require little downpayment (3.5%!)!

If you’ve had some credit issues, but your credit scores are over 580 – you will likely qualify! Call Steve and Eleanor Thorne at Corporate Investors Mortgage Group today to get more information! 919-649-5058