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 …

Conventional 3% Down Mortgages 27 FAQ’s Read more »

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According to research of the foreclosures during the past 7 years, chief among the cited reasons were lack of down payment, undisclosed debt by the buyers, reduced credit requirements, and unstable income. In response to greater accountability to Washington lenders …

What is a My Community Mortgage? Read more »

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Early in your loan application process, your lender will arrange for a home appraisal. Borrowers are sometimes confused about this process. They have a pretty good idea about what the home they want to buy is worth but the appraised …

What’s involved in the Home Appraisal Process? Read more »

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We’ve all heard the saying that ‘Bad things sometimes happen to good people’. If you have ever owned a home and have experienced both the pride of homeownership and the correlated sentiment of shame for …

How Long do I have to Wait for a Mortgage after Short Sale or Foreclosure? Read more »

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Supply of Inventory With only 3.5 months’ supply of inventory (MSI) in January and buyers snapping up the good homes as quickly as they were added to the market, most of the first two months of the year …

Wake County Real Estate Trends Q1 2014 Read more »

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Ability to Repay Basic Eight Requirements

2014 brings with it many new rules established by this new regulator that have significant impacts not only on the type of loans that consumers have access to but how they are delivered. The rule set minimum requirements that a creditor must consider in making the ability‐to‐repay determination. Eight factors must be considered, at a minimum, in the underwriting evaluation process:

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Contents Six Things You Should NEVER do When Buying a Home Six Things You Should NEVER do When Buying a Home 1. Don’t go buying a lot of junk, or even quasi-junk. Draining your savings or running up credit card debt to buy a …

6 Things You Should NEVER do When Buying a Home Read more »

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Unlike the summer of 2011 that was one of the hottest on record, this summer seems to be quite mild. However, for those of us …

How I Cut My July Duke-Progress Energy Bill 34% Read more »

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Simply put, if you’re planning a move to the Raleigh – Cary MSA of the Triangle area of North Carolina in 2013 and your housing needs are such that you require a four bedroom home, renting may not be your most economical option today.

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This Fourth of July Independence Day don’t just wave your American Flag and eat a Hot Dog! (although these are not bad ways to enjoy the holiday!) As you enjoy this most patriotic of American holidays please make sure to take …

Raleigh Area Fourth of July Festivities 2012 Read more »

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