Looking for a Home – When Do I Apply?

This is a question that was posted recently on Trulia Voices…
“Looking for a Home in the Triangle.  I think I’ll be ready to purchase in March of 2009.  When should I apply for a mortgage???”
People who are considering a move to the Triangle need to plan for their home purchase.  If you will be in [...]

North Carolina USDA Mortgage Loans

In NC, we have some big cities… but we get rural fast!  I can’t tell you how many people, dispite the cost of gas, who say, “I’m just lookin’ for some land!” or “I can’t stand those little ‘Barbie Doll’ houses sitting right next to each other!”
Well, if you’re looking to buy a rural home, we [...]

Nontraditional Credit

Do you really want to get out of that apartment?  Did you know that NOW is that time you can make a KILLING buying real estate and DUMP your roommates??
If you’re ready to take the next move – and you don’t have three good lines of credit established – GREAT NEWS!
The new Housing Bill requires [...]

Meet Us at Open House!

We are priviledged to work with some of the areas TOP Builders.  One of our favorites, Stanton Homes is holding an Open House this Sunday, June 22 from 1-4 pm.
This is an especially great offer for Veteran’s as we’ve created a multi tier discount package for military families that includes:  Discount Home Price, Lower Origination [...]

FHA Compensating Factors

FHA (and all government underwriting for that matter) is somewhat different from other, more automated systems of loan approval. On an FHA loan you can actually have a real person look at the loan and apply the golden rule – not just a bunch of meaningless stipulations. This is often the difference in making the dream of homeownership a reality… because not everybody has a perfect credit history, with a 20 year job, and 2.3 kids!

Step 2 Homebuying in Cary

In a previous post we explored the whole “First the Loan, then the Home.” Mentality of Home Shopping. The idea is that if you begin shopping for a $175k home because you used an online calculator and figured that’s what you could afford… but some reason you DON’T qualify for that much… you’re never going to find a [...]

FHA Repair Requirements

The problem is that many sellers, including banks holding foreclosed property, might not want to accept an FHA borrower? Why? Because FHA will not take a property with a paint job like the one shown here. If you were purchasing this property, the exterior repairs would need to be done PRIOR to closing.

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 [...]