Step by step instructions for locating USDA eligible properties & areas

Tuesday, 08 April 2014 02:29
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One of the most popular questions we receive is “how do I tell if the property is USDA eligible?” or something similar.  Whether you are a buyer, seller, or realtor, you should get familiar with this site as USDA is a great opportunity for a buyer to get affordable financing at 100% of the sale...

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Construction to Permanent loans with little to no money down in NC, SC, & VA

Friday, 14 March 2014 12:57
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Finding a construction loan is very difficult today and almost impossible to find over 75 – 80% of the value.  Well, we offer a one-time closing 95% construction to perm mortgage loan to meet this huge need in Virginia and the Carolina’s.  Low to no down payment construction perm loans are ver...

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Good housing news! Home prices are moving up in most markets!

Tuesday, 11 February 2014 23:20
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Click here to see a chart that shows the S&P / Case-Shiller Home Price Indices Chart so you can see how prices have started to climb in most areas.  There are still great opportunities out there and interest rates are still historically very low.  Give us a call to ask about your home purchase or ...

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Mortgage loan approvals with deferred student loan payments

Tuesday, 11 February 2014 23:12
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Student loans play a big role in people’s finances nowadays and that is certainly true with mortgage loan approvals as well.  CNN Money reported in an article on 12/5/13 that the average student loan debt for the class of 2012 is $29,400!  Read the article here .  Student loan payments are usua...

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Getting a 2nd VA loan when you have a VA loan already

Tuesday, 11 February 2014 23:08
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Here’s a popular scenario for military buyers:  A buyer currently in the military has been relocated and wants to purchase a primary residence with a VA mortgage to get 100% financing, but the buyer already has a VA loan on the prior residence which is now rented out.  Can this be done?  There ...

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After a short sale, when can I purchase another home?

Tuesday, 11 February 2014 23:02
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 When a borrower has to go through a short sale, what happens after the fact is very important.  First of all, a good written explanation along with any supporting documentation for the short sale is important to show a mortgage lender why this situation was a one-time incident which has passed an...

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NC Home Advantage 97% Fannie Mae Mortgage with Down Payment Assistance

Tuesday, 11 February 2014 22:35
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Effective February 3, 2014, NC Housing Finance Agency unveiled this great mortgage loan product that helps North Carolina buyers finance a primary residence with a lower monthly payment and low down payment.  We are an approved lender and approved loan officers with NC Housing for this and their ot...

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Mortgage loan approvals with deferred student loan payments

Thursday, 30 January 2014 21:34
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Student loans play a big role in people’s finances nowadays and that is certainly true with mortgage loan approvals as well.  CNN Money reported in an article on 12/5/13 that the average student loan debt for the class of 2012 is $29,400.  Read the article here.  Student loan payments are usual...

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The opening date to file 2013 tax returns is moved back to January 31, 2014

Friday, 10 January 2014 17:07
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Because of the government closure, the opening date to file 2013 tax returns is moved back to January 31, 2014 which will delay early filers   Because of the 16 day government shutdown, the IRS will not start processing 2013 tax returns until January 31, 2014 and the IRS encourages taxpayers to u...

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Insurers seek 25 percent increase in NC homeowners insurance rates

Friday, 10 January 2014 17:03
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Insurers are asking for another major increase in homeowners insurance rates across North Carolina – an average increase of 25.3 percent. North Carolina insurance companies are asking for another hefty increase in homeowners insurance rates across the state. The increase request averages at 25.3 ...

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USDA's Special Product!

Thursday, 14 November 2013 22:12
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USDA has a special product called the USDA Pilot Refinance Program which is for borrowers that currently have a USDA guaranteed loan and are looking to lower their rate and payment through a refinance.  This USDA program allows for a borrower to refinance without an appraisal through a streamline p...

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The USDA Pilot Refinance Program

Thursday, 14 November 2013 22:09
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The USDA Pilot Refinance Program has expanded the eligible states where borrowers that currently have a USDA loan can refinance through a streamline process.  States now eligible for the USDA Pilot Refinance Program are:  Alabama, Alaska, Arkansas, Arizona, California, Colorado, Florida, Georgia, ...

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Searching for FHA approved condos

Saturday, 02 November 2013 13:47
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In order to finance the purchase of a condo with an FHA loan, the condo must be on the FHA Approved Condo List.  Approved condos can be found by clicking on FHA Approved Condo Search and searching either by state or city & state.  It is best not to type in the name of the condo complex as sometime...

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Searching for VA approved condos

Saturday, 02 November 2013 13:40
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In order to finance the purchase of a condo with a VA loan, the condo must be on the VA Approved Condo List.  Approved condos can be found by clicking on VA Approved Condo Search and searching either by state or city & state.  It is best not to type in the name of the condo complex as sometimes th...

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HARP Fannie Mae & Freddie Mac Date Changes

Saturday, 26 October 2013 23:55
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Fannie Mae & Freddie Mac just recently announced that they have revised the eligibility date for mortgages eligible for a HARP refinance.  The change is that the eligibility date is now the note date of the Fannie Mae or Freddie Mac mortgage needs to be dated on or before May 31, 2009.  The prio...

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USDA extends "Future Eligible Areas" map to take place on January 15, 2014

Saturday, 26 October 2013 21:03
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Changes to the eligible areas map based on 2010 Census data scheduled to take effect Oct. 1, have been changed by passage of the Continuing Appropriations Act, 2014. The new implementation date, barring Congressional action, will be Jan, 15 2014. Click above then select "Future Eligible Areas" on th...

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Lumberton, NC Poorest City in America? No Way!

Tuesday, 15 October 2013 17:48
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Lumberton, NC has been falsely shown as the poorest city in America by several publications running with an article prepared by Credit.com’s Christine DiGangi before checking her figures.  For instance, WBTW News 13 is quoted as saying “Numbers gathered by Credit.com show that Lumberton is the ...

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FHA Back to Work Program for recent foreclosure, short sale, or bankruptcy

Tuesday, 08 October 2013 14:11
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        Purpose of this program:  To provide an opportunity to purchase a home to buyers who have experienced an economic event that resulted in a severe reduction in income due to a job loss or other circumstances resulting in reduce household income.  Extenuating circumstances must be a...

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Construction to Perm Loans Available

Tuesday, 08 October 2013 14:10
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When you are looking to build your dream home and the builder requires you to get construction financing, we may be able to help you.  We offer up to 80% financing as a one-time close construction/perm program with exceptions up to 85%.  Having a one-time closing up-front saves costs by not having...

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Ways to pay off a mortgage early

Tuesday, 08 October 2013 13:56
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Refinance to a shorter term mortgage 10 & 15 year terms offer lower rates than 20 or longer terms and will help save a lot of interest over the life of the loan. Make sure that the costs compared with the savings and the time expected to keep the mortgage makes financial sense (breakeven po...

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Importance of writing a great, thorough explanation letter for credit issues to a lender

Tuesday, 08 October 2013 13:54
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A letter of explanation can sometimes mean thedifference between approval and denial, especially on a loan that could goeither way.  An example that we get a lot for an explanation letter is asfollows:  “I was 90 days behind on my bills last year because I was sickand the I don’t remember why ...

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Cash used for Earnest Money Deposit on a purchase

Tuesday, 08 October 2013 13:52
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Make sure that all buyers pay for earnest money bycheck or cashier’s check because the borrower would not be able to prove thecash came from their funds most of the time.  To get credit at closing forthe earnest money, the funds need to be proven that the funds came from thebuyer’s bank account...

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Earnest money deposit paid by someone other than the buyer

Tuesday, 08 October 2013 13:50
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When an earnest money deposit is paid by someone other than the buyer, a lender must document that the funds were a gift from the donor to the buyer.  It is much easier to have the buyer pay for the earnest money deposit when possible.  This applies when a fiancée, parent, brother, etc pays for t...

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What are insurance declarations pages?

Tuesday, 08 October 2013 13:49
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Homeowner’s insurance declarations pages are the main part of the insurance policy which states coverages, premiums, lender’s covered, and it is updated each year to the owner We will ask for a borrower’s insurance declarations pages on properties for several reasons:  To prove that a prop...

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Understanding Credit Reports and Scoring

Tuesday, 08 October 2013 13:41
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Today, everyone is regrettably a number, so you might as well know what it takes to make the number as high as possible.            Get a free copy of your credit report from all 3 credit bureaus:  Visit www.annualcreditreport.com, call 877-322-8228, or mail to Annual Credit Report Req...

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Items needed to process a buyer's mortgage

Sunday, 29 September 2013 12:02
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These items apply for all borrowers that will be on the mortgage unless otherwise specified: Copy of driver’s licenses & social security cards (ss cards on government loans only or if there is a discrepancy on credit) Paystubs to cover the most recent 30 day period (as new paystubs are receiv...

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7 Routes to Becoming an Industry Authority

Thursday, 28 February 2013 14:13
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How would you like to be the person people go to for the definitive answer, opinion, or advice about what's going on in your industry? Wouldn't you especially like to be that person when the people approaching you are in the media or, even better, potential referral partners or prospects? Here are 7...

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9 tips for creating passwords that send hackers away–PLUS 5 points to remember when selling your home

Monday, 18 February 2013 17:09
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To keep hackers out of your systems, never click on suspicious links or attachments, even from friends. But it's even more important to manage your passwords. Here's what internet security experts say we should do: 1. Use nothing from the dictionary. If your password is in the dictionary, it's no b...

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USDA Pilot Refinance Program Is Now Available In More States!

Wednesday, 13 February 2013 16:16
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The USDA Pilot Refinance Program is a great mortgage product for borrowers looking to refinance their current USDA loan where limited or no equity is not an issue.  Effective February 11, 2013 the following states will now be eligible for the USDA Pilot Refinance Program: Alaska, Alabama, Arkansas...

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5 Great Daily Habits for the New Year

Thursday, 31 January 2013 16:06
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Here's a fresh idea for the start of the New Year. Instead of trying to improve ourselves by trying to follow another set of New Year's resolutions, some life coaches and self-improvement experts suggest that establishing a few good habits on a daily basis can be much more effective. Good habits, pr...

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Informative, professional, courteous, pleasant, very approachable and quick with responses.

Alvin C., Wilmington, NC