Tips and other general info
USDA - Did you know that....
Saturday, May 12, 2012
A property cannot have barns or other characteristics of a working farm. One would think that USDA would allow something with agriculture but it doesn’t. A home with an in-ground pool is a potential issue with USDA loans. Properties with in-ground swimming pools are allowed as long as l...
READ MORESome nontraditional credit sources...
Saturday, May 12, 2012
What are nontraditional credit sources that can be used for borrowers purchasing a home that need to supplement their thin credit file? A common problem when some are trying to qualify for a mortgage loan is the lack of recent good credit. If a borrower does not have enough credit or any credit a...
READ MORE6 ways to make your garden Spring-ready and 5 things to consider before renting your home
Thursday, May 10, 2012
Now is the time of year to let your garden "Spring" to life! 1. Lawn Care. Rake up all the "thatch"–that's the dried dead grass and weeds mingling with the live grass. Thatch prevents water and nutrients from getting into your lawn and stops new seeds from taking root. Next, set your mower blade...
READ MOREUsing a Pastor / Minister’s housing allowance to qualify for a mortgage
Thursday, May 10, 2012
The IRS looks at the housing allowance portion of a pastor’s income as an exclusion from income. Therefore the housing allowance is not reported on the personal tax returns as taxable income. Even though it is not reported on the tax returns, a pastor’s housing allowance can be used in quali...
READ MORENew light bulb rules...Plus 3 ways the Job Market moves Housing
Wednesday, April 11, 2012
Thomas Edison's incandescent light bulb was a brilliant invention, but not very energy efficient. Just 10% of theelectricity it uses gets converted into light; the rest is radiated as heat. This January, the old-style bulb got a big push toward extinction, as additional provisions of the Energy Inde...
READ MOREBrunswick County Property Tax Rates
Tuesday, April 10, 2012
To look up property tax bills paid or due for Brunswick County and it’s towns, click here. You can search Brunswick County property tax bills by name, parcel ID, account and bill number. If you need to look up by property address in Brunswick County, click here and then you can look up the p...
READ MORENew Hanover County Property Tax Rates
Tuesday, April 10, 2012
To look up property tax bills paid or due for New Hanover County and Wilmington, Carolina Beach, Wrightsville Beach, and Kure Beach, click here. You can search New Hanover property tax bills by owner name, parcel ID, street name, or bill number. To search for property tax value and history, clic...
READ MORERobeson County Property Tax Rates
Tuesday, April 10, 2012
To look up property tax rates and fees for Robeson County and town rates for McDonald, Proctorville, Raynham, Fairmont, Lumber Bridge, Lumberton, Maxton, Parkton, Pembroke, Red Springs, Rowland, St. Pauls, & Rennert, NC as well as the varying fire districts in Robeson County, click here. You may se...
READ MOREColumbus County Property Tax Rates for 2001-2011
Monday, April 02, 2012
To look up property tax rates and fees for Columbus County and for the town rates for Boardman, Bolton, Brunswick, Cerro Gordo, Chadbourn, Fair Bluff, Sandyfield, Tabor City, Lake Waccamaw, and Whiteville, NC as well as the varying fire districts in the county, click here. Years 2001 – 2011 pr...
READ MOREUse Assets As Income!
Monday, March 12, 2012
Use Assets As Income! Perfect for borrowers that do not have much income but have a large amount of assets. Assets must be liquid, owned solely by the borrowers, with unrestricted access and 100% of the balance available without penalty if the asset is a retirement account recognized by the IRS...
READ MOREVA Loan List of Allowable and Non-Allowable Closing Costs
Friday, January 27, 2012
Allowable FeesThe following fees are always allowed regardless of the 1% origination fee being charged:Appraisal fee – per allowable maximum appraisal fee schedule for that stateCompliance inspection – only if required by the NOVCredit report – in most cases it should not exceed $50Recording f...
READ MORE7 New Year's Resolutions to boost your success!
Thursday, January 26, 2012
If you want to be the best in your field, here are some things you can do that can put you ahead of the pack:1. Ask big questions. If you only ask practical, logistical, small questions, you'll just get the small answers that will keep your business going, but not growing. Pursue the big questions:...
READ MOREWonder why lenders must verify everything?
Thursday, January 19, 2012
Click "read more" to Check out these startling fraud statistics to see why! ...
READ MOREUrgent Rate Notice for Fannie Mae and Freddie Mac
Tuesday, January 10, 2012
Pursuant to the Temporary Payroll Tax Cut Continuation Act of 2011, the Federal Housing Finance Agency (FHFA) has imposed a mandatory price increase which will be paid for by increasing the fees charged to mortgage lenders by Government Sponsored Entities (GSE) such as Fannie Mae and Freddie Mac...
READ MORECut your electric bill by 10% without even knowing it!
Wednesday, November 09, 2011
Most people don't know that TVs, DVD players, game consoles, computers and chargers for cell phones and other electronic devices can draw energy 24/7, even when idle. The typical American home has 40 of these electronic devices, continuously drawing power. The U.S. Department of Energy's Lawren...
READ MOREDid you know that a USDA loan can be used to pay off or “take out” a new construction loan?
Wednesday, September 14, 2011
Per USDA guidelines: § 1980.310 Loan purposes. The purpose of a loan guaranteed under this subpart must be to acquire a completed dwelling and related facilities to be used by the applicant as a primary residence. The loan may be to purchase a new dwelling or an existing dwelling. The guaranteed ...
READ MOREIRS's Top 10 Tax Tips For Home Sellers
Tuesday, August 16, 2011
Ten Tax Tips for Individuals Selling Their Home IRS Summertime Tax Tip 2011-15, August 8, 2011 The Internal Revenue Service has some important information to share with individuals who have sold or are about to sell their home. If you have a gain from the sale of yo...
READ MOREDid You Know?
Thursday, August 04, 2011
PrimeLending was ranked the 3rd largest USDA lender in the Nation for 2009 PrimeLending was ranked the 10th largest FHA lender in the Nation for 2009 PrimeLending offers in house marketing agreements with real estate agencies to share in marketing costs PrimeLending offers Originating Se...
READ MOREWhat is Escrow Holdback?
Monday, August 01, 2011
If a buyer is looking for a USDA or FHA loan but the property needs up to $5000(FHA) or $10,000(USDA) of improvements required by the appraiser to meet HUD standards, we can finance those improvements in the loan with an ESCROW HOLDBACK. For example: If a buyer is looking to purchase a home tha...
READ MOREDid You Know?
Friday, May 27, 2011
Did you know that for FHA mortgages, loan payments deferred for 12 months or more from the approval date may be excluded from the debt ratio calculation? Loan payments on forbearance due to financial difficulty may not be excluded....
READ MOREWhy do I have to pay a fee for a VA home loan?
Monday, May 16, 2011
Since I paid a fee for my first loan, why is there a larger fee for my second loan? The VA funding fee is required by law. The fee is intended to enable the veteran who obtains a VA home loan to contribute toward the cost of this benefit, and thereby reduce the cost to taxpayers. The funding fee f...
READ MOREVA - Does my entitlement guarantee that I will get a home loan?
Monday, May 16, 2011
No, VA cannot compel a lender to make a loan that would violate their lender policies. Lenders must also comply with VA income and credit standards....
READ MORECan I do a FHA refinance if I own the property, but am not named on the existing loan?
Saturday, May 14, 2011
As long as the borrower has legal title (even though not originally on the loan) the borrower is eligible to refinance the loan. Handbook 4155.1: 3.A.1.a...
READ MOREWhat charges from the payoff can be included when calculating an FHA rate/term or streamline refinance?
Saturday, May 14, 2011
The existing first mortgage must be current for the month due. The payoff amount may not include delinquent interest, but may include The interest charged by the servicing lender (when the payoff will not likely be received on the first day of the month - as is typically assessed on FHA-insured mort...
READ MORECan a non-occupant co-borrower be added to a FHA mortgage loan to help qualify an occupant borrower?
Saturday, May 14, 2011
It is permissible to add a non-occupant co-borrower or co-signer to a purchase or a rate/term refinance transaction. However, if the occupant borrower has not established a credit score (insufficient or non-traditional credit history), the credit score of a non-occupant co-borrower/...
READ MORERetired Borrowers?
Friday, May 13, 2011
Did you know that a retired borrower can use a new distribution of income from a retirement account as qualifying income for a mortgage loan as long as the income from the asset should continue for at least 3 years? Even if the borrower has not been receiving the distribution from an asset account...
READ MORETrouble making your VA loan payments?
Thursday, May 05, 2011
If you have a VA loan, but are having trouble making your mortgage payments, it is very important that you take steps to avoid a foreclosure. VA may be able to help. For more information, please click on this link (click on "read more" and then click on "this link"). ...
READ MOREIs it a good time to purchase or refinance?
Thursday, May 05, 2011
How long rates will remain this low is anybody's guess. But this chart (click on "read more" and then click on "chart") demonstrates just how historically low interest rates are. Look at where rates were in the early nineties - then look what happened! ...
READ MOREDefinition of "first time homebuyer"
Monday, April 04, 2011
Did you know that the term “First time homebuyer” does not mean it is the first time ever purchasing a home? In qualifying for a mortgage loan, “first time homebuyer” means 1st time buying a home in the last 3 years. So if someone owned a home before, has rented for 3 years, can purchase...
READ MOREInterested in Foreclosure Properties?
Tuesday, March 22, 2011
Look for Fannie Mae owned properties that have been foreclosed with special financing available. Go to www.homepath.com to look for foreclosure properties. Mortgages are available for primary, secondary, and investment properties without pmi regardless of LTV. For more details, go to Special ...
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