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 [...]

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 [...]

What Exactly Are Closing Cost?

The Federal Reserve Board refers to them as “Settlement Fees.” They are, in fact the fees you pay to the various agencies and service providers who work to get the title of the home transferred into your name.

Veterans get a Tax Credit Extension, what about the rest of us??

On October 11, 2009 the Congress agreed to extend the $8000 Tax Credit for First Time Homebuyers for any Veteran who served at least 3 months of “Qualified Overseas Duty” in 2009 for another 12 months!

FHA Downpayment Going to 5% ??

US Congressman Scott Garrett (R-NJ) introduced the “FHA Taxpayer Protection Act of 2009. In his bill, borrowers would be required to make a 5% downpayment on FHA loans, as opposed to the 3.5% downpayment in the current guidelines.

Best info On No Money Down Mortgages in NC

There are two programs available for no money down, 100% mortgages in NC.
VA Home Loans:
Basic VA Benefits
VA Loans and Co-Borrowers
What if you make a Downpayment
VA Guarantee Fee
VA Home Loans and Credit Scores
USDA Financing
Basic Guidelines for USDA Home Loans in NC
USDA Home Loans in the Triangle
USDA Home Loans Holly Springs NC
12 Months of Clean Credit
USDA [...]

USDA Home Loans, When Do You Need An Inspection

USDA, Rurual Development recently issued an announcement clarifying when they need all of the new construction documents for homes… and when they don’t.
If the home is less than 1 year old and has never been occupied, the home is considered a new home purchase.  New home purchases are subject to plan certification, specifications, inspections and [...]

Can You Qualify For A Mortgage If You are Not Married??

If you found this post, you have a very specific question, and the very SHORT answer, is PROBABLY.
Exactly what type of mortgage you get, is a slightly more detailed answer!
VA LOANS:  VA says that if you are going to purchase with another person they will recognize legally married spouses of qualified veterans as co-signors on VA [...]

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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