Renovation Loans for Main Street
Well during the past year and a half the lending landscape home buying home buying has changed profoundly. Guidelines have been rewritten, loan programs completely canceled, “SO!” here we are. You can’t even get an equity line today! I’ve seen quite a few loan programs in my time in the lending industry.
The First-Time Homebuyer Tax Credit
Existing home sales jumped 7.2% in July - the biggest monthly gain on record. First-time homebuyers are purchasing about one third of all homes sold. This is largely due to the tax incentive, interest rates hovering at historic lows and housing affordability at its best level in more than a decade.
Changes to the Truth in Lending Act
Changes to the Truth in Lending Act:
What You Need to Know!
Regulation Z of The Truth in Lending Act (TILA) has undergone important changes that you need to know about when talking to your clients.
Top Cities to Move - Charlotte #3
Unemployment is on the rise, credit is tight and consumers aren’t spending - which means they aren’t picking up and moving much, either. Very few places in America saw significant population growth in 2008.
Despite the overall economic slowdown, some parts of the country keep on moving ahead, attracting more and more newcomers - even if [...]
Quit Claim Deed vs. Warranty Deed
A Difference Indeed
A quit claim deed is the legal way that one person (the grantor) transfers real property, such as a house or land, to another person (the grantee). As an example, a divorcing husband may quit claim his interest in certain real estate to his ex-wife. While the concept is simple and straightforward — [...]
Foreclosures - How to purchase in Charlotte
Fannie Mae, the agency sponsored by the U.S. government to help make housing more affordable to all Americans, now offers HomePath, a special new home loan to finance the sale of its current real estate owned (REO) properties across the country.
Lower down payments and relaxed requirements mean more homeshoppers can become homebuyers. HomePath helps you [...]
Frequently Asked Questions
Here are some of the questions we asked most often. Click on the link to see the answer. Please call me if you have any other questions.
I am currently renting, how do I determine if I can afford to buy?
To determine if it makes financial sense to buy, compare the cost of renting to the [...]
Save Before You Buy
Saving money is a very important step in home ownership. You will need money for several different needs during the process. Money in the bank will also show those making decisions on your loan that you have established a level of responsibility with your income, that you aren’t living paycheck-to-paycheck. It will prove to you that you don’t have to spend every dime you get….
Renting vs. Buying
Buying a home will probably be the most important purchase of your life, and the process can be intimidating. We are here to make it easy for you. This page outlines some of the basics you may want to know before getting started. Everyone has to start somewhere and now just may be your time.
Mortgage Loan Charlotte - Document Checklist
The loan process is all about documentation. The underwriters usually get the blame for asking for all of this info but its really the guidlines that need to be met. The underwriter is only following the rules and trying to prepare your loan for acceptance and funding on the secondary market. Here is a basic [...]
