Conventional 3% Down Mortgages 27 FAQ’s

Frequently Asked Questions and Answers to the new Conventional 97% Mortgage. Is the Conventional 97 a government-backed mortgage program? Yes, the Conventional 97 mortgage program is backed by the government. It’s offered via Fannie Mae only. The program is not available via Freddie Mac, nor is it available…

What Should I Expect to Pay in Raleigh-Cary for Rent?

Wages are the number one factor in determining the value of rents which is why until recently New York City had the highest rents. Today you might be surprised to learn that the Williston Herald (North Dakota) reports that Apartment Guide found that a 700-square-foot, one-bedroom apartment in Williston costs an average of $2,394 a…

Housing Affordability Declines in Raleigh as Mortgage Rates Rise and Inventory Dwindles

However, here in Raleigh, there’s a different story. According to NAR, the Median Sales Price of Existing Single-Family Homes rose a healthy 2.9% in Q2 2013 from $193,200 during the same quarter last year to $198,800. But the real surprise for me was in Durham which saw a 3.6% overall gain from $198,500 to $205,700 for the quarter ending July 30, 2013.

FHA 203(b) Loans for North Carolina borrowers with 620 Fico Scores

Until recently, getting a loan to purchase a home in Raleigh North Carolina for borrowers with credit scores greater than 620 but less than 640 was nearly impossible. However, because of the improving real estate markets, lenders are beginning to once again to loosen their credit guidelines.