Tag: Mortgage FAQ’s

Not every service member or Veteran has perfect credit or an 800 credit score.  Actually a very small percentage of Americans achieve this score.  Luckily VA loans are reasonably forgiving when it comes to credit scoring.  Therefore this flexibility along with the ability to buy a home with no money down makes VA a great financing option.  […]

Limited Credit and Looking for No Money Down? We just recently closed a USDA loan for a buyer that only had one credit trade line reporting on the credit report. The buyer had 3 credit scores with a middle of over 660 and no bad credit. We were able to receive an automated pre-approval through […]

A little known number near the back of a borrower’s business tax returns that can cause a huge issue with a mortgage loan approval is “mortgages, notes, and bonds due in less than one year”.  This figure, which is found on the corporation’s balance sheet, must be deducted from the corporation’s after-tax income since it […]

Most banks and lenders will lend up to 80% or less on a construction to permanent scenario.  But for borrowers in NC and SC, we have great options for building a new dream home.  We combine the flexibility of an FHA loan with the benefits of construction financing.  FHA construction loans allow land owners to […]

Knowing Seller Paid Closing Cost Limits is Important FHA, VA, USDA, and Conventional loans allow seller paid closing costs to a limit and it is important to know the limits Often buyers either want or need to have seller paid closing costs in order to include part or all of their costs into their mortgage.  Seller paid costs can help […]

SC USDA Status Hotline USDA loans are unlike other types of loans.  Normally lenders underwrite a file without review from an agency.  USDA requires an extra step after the lender underwriting process.  Next comes the USDA eligibility review and commitment.  Over the years, we have seen the review and commitment process vary from a day to over 30 days for USDA to review SC […]

NC USDA Status Hotline USDA loans are unlike other types of loans.  Normally lenders underwrite a file without review from an agency.  USDA requires an extra step after the lender underwriting process.  Next comes the USDA eligibility review and commitment.  Over the years, we have seen the review and commitment process vary from a day to over 30 days for USDA to review NC […]

We see this misunderstanding of condo versus townhome more than any other property types as a lot of listings will call the property a condo/townhome and there is no such thing. Understanding this difference  between a condo and a townhouse is very important for buyers, sellers, and their agents! Condo characteristics: The owner owns only the […]

We Understand a Pastor’s Nontaxable Income You are going to say “Amen, it’s about time someone understands my income!”.  Because our team fully understands how the pastor housing allowance may be counted for mortgage loans.  So whether you are a pastor, priest, or reverend, often you receive nontaxable income. But the problem is that lenders won’t count a large portion of […]

Columbus County is the 3rd largest county in the state of North Carolina.  Also it’s largest town and county seat is Whiteville, NC.  So if looking to buy here, you should look up the Columbus County property tax rates.  In addition to knowing the actual taxes, often the taxes are included in the mortgage payment.  Therefore knowing the taxes will […]

Columbia SC’s housing market offers so much to a wide range of buyers.  Whether you are a first time buyer, moving up, or retiring in this area, Columbia offers so much.  Major employers include University of South Carolina and Fort Jackson.  Our USDA loans Columbia SC offer very affordable, fixed payments with the luxury of 100% financing.  […]

Jacksonville NC is home to Camp Lejeune Marine Corps Base, which the city depends on heavily for its thriving economy.  VA loans are the most common mortgage used to purchase a home because of the high number of military and veterans.  But USDA Loans Jacksonville NC offer very affordable, fixed payments with the luxury of […]

Fayetteville NC is home to Fort Bragg which is the largest military base in the world.  It is home to the Airborne and Special Operations Forces of the U.S. Army.  So obviously the local economy depends heavily on the military base and the families it supports.  Because it is a heavy military area, VA loans […]

No matter where you go, everyone knows about Myrtle Beach.  The draw of the ocean, golf, sunshine, and tons of entertainment, gives you quite the experience!  So it is obvious why Myrtle Beach is a great place to live.  Now, let us show how to buy a home with no money down.  USDA Loans Myrtle […]

Yes, there is a great mortgage option to buy a home in Wilmington with no money down.  Our USDA loans Wilmington NC offer very affordable, fixed payments with the luxury of 100% financing.  Don’t think of USDA as just an option to buy a home in the country.  As you will see in the map […]

FHA Approved Condos Search In order to purchase a condo with an FHA loan, the complex must be approved.  FHA approved condos combine simple living with affordable financing.  But in order to use FHA, the complex must be on the FHA Approved Condos website. Directions for Searching for FHA Approved Condos: Follow these steps to find FHA approved condos quickly.  The site […]

Picture this scenario which happens more than you may think.  A service member is being PSC’d to another duty station and wants to buy another home.  Maybe even the Veteran just wants to buy a bigger house in another neighborhood.  BUT, what if the current home can’t sell and it needs to be rented?  Or the owner just wants to rent out the home for […]

NC Housing Finance Agency unveiled this great, low down payment mortgage loan.  So this helps North Carolina buyers finance a primary residence affordably.  It is called the NC Home Advantage 97% Fannie Mae loan.  We are also an approved lender and have approved loan officers offering NC Housing Finance Agency products. Some details of the NC Home Advantage […]