How to Buy a House in NC
Growing up, our generation likely all heard the same story: Our parents lived in a modest apartment, saving every penny, until they had 20% down to buy a house and start a family. Things have changed since 1989, and the real estate industry has really changed. Student Loan Debt is more prominent today that it has ever been, and the average graduate has a much heftier balance than his parents did.
Less people are getting married and we are waiting longer to do so. Many people are putting a mortgage before a marriage and deciding if they want their significant other or spouse on the loan. Along with changes in employment structures (contract positions are becoming more and more popular in place of full-time) and the changes this crop of consumers are making to the way people buy and sell, there are more questions now than ever.
Each year, there are tens of thousands of federal, state and municipal programs available to help an entire demographic: Us. We are the new homebuyers and the new consumers. More often that not, we just don’t know that these programs exist. We don’t know that we probably already qualify to buy a house, so we continue to diligently pay our rent each month, spending instead of investing, cutting a check without building any equity.
We understand that buying a home is the most expensive and important decision you will make. We want you to be prepared and educated on the latest information and programs so that you can confidently make the smartest decision for your lifestyle.
In our free classes, we will explore the first steps to eligibility such as:
Do I qualify?
How to Budget to Buy a House
How to Build or Repair Credit
The Steps of Buying a House: Preapproval, When to Contact a Realtor, Why Do I Need Mortgage Insurance?
Student Loan Debt and Qualifying for a Mortgage
Which Mortgage is Right For You? Mortgages with 0% Down, 15-Year vs. 30-Year
As well as explain the programs available to Homebuyers today:
Mortgage Tax Credits: A federal income tax benefit specifically for First Time Home Buyers that allows you to pay less taxes in order to afford more house
Down Payment Assistance: You could buy a house today with as little as $500– and you wouldn’t have to sell your soul along the way
Mortgage Grant Eligibility: Which ones you have to pay back and which ones you don’t
All events are in conjunction with FannieMae and the North Carolina Housing Finance Administration. You do not need bring anything with you– we will provide all materials. All classes are free of charge and snack and drinks will be served.
Meet the Hosts:
Eleanor Thorne has over 30 years of experience in the Mortgage Industry and is currently on a Mortgage Lending Team at Equity Resources, Inc. with her husband Steve. As a rare Cary native, she and her husband have made a home here helping families buy a house. Eleanor is driven to understand the customer’s financial picture and determine the best route for that individual. She specializes in First Time Home Buyers and Down Payment Assistance Programs. Eleanor enjoys working with each homebuyer to determine the kind of life they want, and helping them establish the goals and priorities they need to buy the home of their dreams.
Mary is part of the Marketing Team at Equity Resources, Inc. She researches the programs available for home buyers across the spectrum. No scenario is too difficult! She interviews Loan Officers, Realtors, and other industry professionals to gain insight on the market in North Carolina and across the US. She is passionate about learning all that she can to educate people on the smartest way to buy a home. A transplant from Nashville, Tennessee, she currently lives in Downtown Raleigh where she enjoys the live music scene, art museums, and parks system.