Thinking about buying a home in NC? The first thing you have to do is get your Credit Score in order. Often times, especially with First Time Home Buyers, we suggest that they get a Secured Credit Card. First off… let’s discuss what Secured Credit is. A Secured Card requires you to make a deposit […]
With the economy being what it is… I guess more people are considering divorce. I haven’t seen a “headline” about it, but we’re certainly getting calls! If you’re in that boat, my heart goes out to you… and I have some things you should be considering. Normally, folks refinance their home to get a better […]
Medical Collection Boo-Boo’s are usually the hardest things to remove from a credit report, even though the Fair Credit Reporting Act does have pretty strong language about them. Fortunately, Medical Collections and FHA Mortgages can be easier to resolve than you might think! The final rule of HIPAA (the Health Insurance Portability and Accountability Act) […]
1/31/2010 Update – There’s still no Downpayment Assistance Program Available in NC. The House Bill 6694, that was suppose to re-confirm Downpayment Assistance (it’s gone as of 10/1/2008) has made little progress since the summer, and is still sitting in the House Finance Committee. My personal opinion is that this is a “dead end option.” […]
Are you dreaming of a new truck? Well, you’re not alone… but be careful who you borrow from! If you go to Beneficial, or Wells Fargo Financial (both fine companies) you will not really help your score. In fact, if you have a loan with them, like I do, you want to pay a little […]
SAVE UP! For more than 10 years there have been agencies that helped with downpayment. The downpayment was “gifted” through the agency – and it’s a bit complicated – but it meant that a homebuyer seeking FHA financing could get a 100% loan. Well, that’s been eliminated with the New Housing Bill.
In today’s market, many homebuyers have heard that 100% loan programs are gone, but that’s simply not true. It’s just one of the reasons you’re gonna’ LOVE FHA! Low Downpayment: FHA considers the total investment into the transaction. They require a 3.5% investment into the property – and this can come from money you have […]
There are pros and cons of FHA financing – but it just got better for those of us in the Triangle because our minimum loan limit is $295,000. An FHA loan is a loan insured against default by the Federal Housing Administration. So, in the event the loan should ever go into default, the FHA […]