Tag: new home construction

Did you know that Veterans probably have the best loan available for buying a home? But, when it comes to building a home, VA loans do not seem to be mentioned as an option. So, finding someone who can combine VA loan benefits like borrowing up to 100% of appraised value along with a construction […]

Pastoral Housing Allowance We love helping pastors buy homes!  So much so, we have to share this success story and “prayer” answered.  Picture this loan scenario which involved the often misunderstood pastoral housing allowance. A pastor and military veteran buyer No down payment Almost all nontaxable income Excluded personal debts paid by the church Good […]

 Settlement or Closing Costs Explanations A buyer should know which closing costs to expect when purchasing a home.  Some closing costs are required, where others are optional to the buyer. Potential Closing Costs on a Purchase Below is a detailed list of potential closing costs on a purchase involving a mortgage in NC, SC, and […]

 Flood Insurance Requirements It is a given that every coastal Realtor, insurance agent, & mortgage lender should be familiar with flood insurance but there are also plenty of non-coastal properties in flood hazard areas because of being located near a river, lake, or in a low lying area where water can rise.  Below we asked a […]

FHA Changes FHA recently changed a lot of their guidelines on 9/14/2015.  So we will provide the game plan to navigate minor tweaks to big FHA changes. Below are answers to FHA FAQ’s Is a borrower eligible if they have a delinquent federal debt but have a clear CAIVRS? If a delinquent federal debt is reflected in a public record, […]

Building a new home is exciting. For a buyer to use a VA home loan on new construction, the builder must have a VA builder ID. Often, buyers and the builder find out late in the process this is required. But, do not worry. Although VA builder approval is required, it is not a daunting task. […]

Why Using a Good Realtor is Important In this series, we are providing tips to avoid the Most Common Roadblocks to Home Ownership.  So far we have discussed 1) how to solve limited or bad credit, 2) no down payment, 3) not having a budget, and 4) documenting rent history.  Today, we are discussing Roadblock […]

When buying a home, townhome, or condo around Wilmington, check the New Hanover County Tax Records.  You will find that New Hanover County, Wilmington, and the other towns have very reasonable tax rates.  So mortgage payments are very payment friendly for living at the beach! New Hanover County Tax Records includes both county and city taxes […]

Providing the most helpful tips for buyers, realtors, homeowners, and the public in general is the main purpose of our blogs.  They are written about real world mortgage loan scenarios and we hope that these blogs provide education to our readers. Best of the Best Blogs: New 100% products with higher down payment assistance with zero […]

Veterans and service members have access to unbeatable financing called a VA loan.  Where VA eligible buyers run into problem sometimes is building a new home.  Finding VA construction loans is very difficult today and most lenders require 20% down payment or more.  So what if you could have a construction loan and combine it […]

VA Loan Requirements for a Pest Inspection Don’t let your dream home become a nightmare because of unwanted guests!  VA purchases in NC, SC, and Virginia require a pest inspection by a licensed professional.  A termite report is another name for a pest inspection.  The actual form used in NC & Virginia is a Wood Destroying Insect Report (WDIR).  […]

Lenders and agencies require that a structural engineer perform a foundation certification. When considering the purchase or refinance of a manufactured home, lenders will require that the foundation meets HUD minimum guidelines when using a VA, FHA, or USDA home loan.  It is important to realize that manufactured homes are different from modular homes.  A […]

Building a home is a dream for so many, but keep in mind that in many ways there are many more steps compared to buying an existing home.  A construction loan process for stick built and modular homes has a lot moving pieces.  In addition, building a home has so many decision to make as well.  So after […]

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 […]