Veterans Not Allowed to Pay all Closing Costs

A new Good Faith Estimate went into effect on January 1, 2010 and because of all the requirements that go with any new Government Regulated Form… FHA came out in January with a list of fees they felt like were reasonable for Homeowners to Pay and Lenders to Collect.
Which prompted the VA to come out [...]

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 [...]

Credit Score Requirements Going UP!

On December the 12th, Fannie Mae is changing it’s “Computer Program” to reflect a new minimum credit score requirement for mortgages of 620.

This is SIGNIFICANT because VA Mortgage Loans, FHA Mortgage Loans and USDA Rural Development loan guidelines indicate that the Government will insure loans with scores substantially lower than this… however, if a loan [...]

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 [...]

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!

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 [...]

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.

First Time Homebuyers – Rates Going Up

We talk to First Time HomeBuyer’s everyday that tell us, “We’re Looking!”  Well – here’s my advice… HURRY UP!!
The Tax Credit is going to “go away” at the end of November… and everybody is telling you NOW is the right time to buy – and that’s a FINE reason… But I think there’s ANOTHER incentive.
I [...]

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 [...]

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