Step 1 of Homebuying in Cary

The pre-approval process is a simple one, and will provide you with the options which meet your payment comfort zone. The process generally involved calling us and talking on the phone for 30 to 45 minutes. After that conversation, we decide when we should meet in person.

What is FHA PMI??

THERE IS AN UPDATE TO THIS INFORMATION – Please click here for CURRENT MIP information… We are leaving it here, in case someone received MIP before 1/1/2010, and wants to check on that or the refund…
If you are a potential new homebuyer, you are wading into a brand new world – with it’s own language!  [...]

Mortgage Insurance vs Default Insurance

Mortgage Insurance and Default Insurance are virtually the same thing. They are called by different acronyms, dependant upon the mortgage loan program you are using to finance your home. It was put into place in the early 1970s to protect lenders against giganitc losses created by large numbers of foreclosure (like the economic conditions we find ourselves in today!) Mark Flanders, of Spokane wrote a great article on potential ways to AVOID paying PMI – although these options are quickly going away.