Day#1 – DEMO Today we began the demo. We have had some good news today. We learned the well was … More Wake County Rehab Project – Day#1 – Demolition
“I’m tired of throwing my money away in Rent!” It’s a common complaint that I hear from people contemplating buying … More We bought a Wake County farm house (rehab)
5 Zero or Low Down … More 5 Zero or Low Down Payment Mortgage Programs
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 via the Federal Housing Administration (FHA), Department of Veterans Affairs (VA) or the U.S. Department of Agriculture (USDA).
We’ve all heard the saying that ‘Bad things sometimes happen to good people’. If you … More How Long do I have to Wait for a Mortgage after Short Sale or Foreclosure?
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 month. The same apartment would cost $1,504 in the New York area, $1,411 in Los Angeles or $1,537 in Boston. Continue reading What Should I Expect to Pay in Raleigh-Cary for Rent?
With all the new jobs being created in Raleigh-Cary with companies such as Red Hat, Citrix and MetLife just to name a few of the bigger names, it’s probably no surprise that there are a lot of people moving to Raleigh and Cary.
But not all of these people moving to Raleigh are ready to buy a home. And frankly, it’s not always wise to buy a home right away in a location where you are a newcomer. Continue reading Three Reasons to Rent in Raleigh-Cary
Forbes recently cited a 38% surge in new home sales since last year, hitting a five-year high in June, according to the newest figures from the Commerce Department. For those of you with short-term memory, that would be the last good year of real estate sales before the bust. Yet, despite a monthly drop in activity, sales of previously owned homes remain 15% higher than last year as well, according to the National Association of Realtor’s. Continue reading Housing Affordability Declines in Raleigh as Mortgage Rates Rise and Inventory Dwindles
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. Continue reading FHA 203(b) Loans for North Carolina borrowers with 620 Fico Scores
Private Mortgage Insurers leading the way in housing recovery
One of the earliest indicators of the housing meltdown which began in 2007 was that issuers of Private Mortgage Insurance (PMI) began to contract their underwriting guidelines for issuing PMI policies. In fact, so bad was the meltdown that many PMI companies either stopped issuing policies altogether while some were even forced file for bankruptcy protection. Continue reading Private Mortgage Insurance helps lead the way in the Housing Recovery