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 …

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

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 »

  7 Questions Every Borrower SHOULD ask a Loan Officer That could save you thousands on your next mortgage #1 How long have you been a mortgage lender? Just as experience with your lawyer, CPa and doctor matters, so does …

Seven Questions to Ask any Loan Officer Read more »

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:

The bad News; If you have to sell your home in Wake County North Carolina where 100% of Raleigh is located, the value of your home is falling faster than our presidents job approval ratings!

By now you know some of the basic reasons you should get a survey and when purchasing real property in North Carolina you should insist on title insurance.   Tip: Title insurance routinely excludes covergae of title defects that would have …

Tips for Home Buyers : Survey’s & Title Insurance Read more »

One of the booming  cottage industries that has emerged from the Great Recession is credit repair companies. Most are by the same people who flew the sub prime mortgage industry into the ground lying to home buyers about their ability …

How to DIY Credit Repair Tips Read more »

FHA Underwriting Tip; FHA allows a borrower to meet the minimum statutory investment by using gift funds from either a close family member, government agency or approved non profit. FHA requires that all gift letters include the section 1010 verbiage below – …

FAQ – What is the FHA Gift Funds Section 1010 Verbiage Read more »

Why You Should Start Planning To Purchase A Home If you’ve ever thought about buying a home, but decided that it was too big a financial gamble, think again. It’s possible you haven’t considered the risk of not buying a …

Five Great Reasons to Buy a Home today Read more »

a first-time home buyer is defined as someone who has not owned a primary residence in the three-year period ending on the date of purchasing the home. Married couples are considered first-time buyers if neither spouse has owned a residence in the previous three years.”