All articles about Mortgage Loans Raleigh NC

What is a My Community Mortgage?

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 tightened there criteria…too tight by most industry experts. Thankfully, however lenders are beginning to see the light and with fewer homeowners in the marketplace they have to compete for those who actually can buy a home.

While credit and income are still pretty non-negotiable, according to consumer research conducted by Fannie Mae, the primary barrier to homeownership for first-time home buyers is saving money for the down payment and closing costs Continue reading What is a My Community Mortgage?

Three Reasons to Rent in Raleigh-Cary

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

Documents Required for a Mortgage Application 2014

Click here for  a Free Pre Qualification and credit review
Click here for a Free Pre Qualification and credit review

The following link will take you to a secure site where you can submit either an Express Application which is really just the bare essentials required for me to provide you a pre-qualification which should take about 10 minutes to complete.


Realtors Comment on Raleigh – Cary – Durham Home Sales 2014

When I was preparing the post – Buying a home in Raleigh is getting tough!  I reached out to some real estate partners that I know and trust and asked them to comment on on the current market condition. The responses were so good that although I couldn’t squeeze them into the original post so I thought I would share them in a  separate post. Continue reading Realtors Comment on Raleigh – Cary – Durham Home Sales 2014

Buying a home in Raleigh is getting tough!

Buying a home in Raleigh is getting tough!

Regardless if you’re a first time homebuyer looking for a cozy (realtor speak for small) 3 bedroom ranch styled home or a veteran move up buyer purchasing your dream home one thing that is consistent across  that supply of housing in Raleigh-Cary and all over Wake County  is that it’s tight!  Continue reading Buying a home in Raleigh is getting tough!

5 Reasons Your Short Sales Will NEVER Close

US Housing Prices Double Dip Recession

The national statistics are bad, really bad and that’s just for existing non distressed home sales. The numbers are even worse when it comes to short sales.

Some experts today are saying  that only 1 out of 10 short sales reach a successful conclusion. Yet others say that 1 out of every 4 close escrow.  Regardless a 10% to 25% success ratio is pathetic no matter what your business is! Because my expertise is in Short Sales I find myself frequently being asked the question “Why do many short sales never close?” and this is what I tell them;

My Top 5 Reasons Your Short Sales Won’t Close

1) Unrealistic Buyer Expectations

Somewhere along the way, Buyers got it in their heads that short sales are the end all, be all score of the century. Often I receive calls from out-of-state investors and Buyers who all make similar comments – “Yeah… I had a cousin who bought a $300,000 condo as a short sale for only $50,000”. First, I would refute that the condo was ever worth $300,000.  Perhaps in Florida, Nevada, Arizona or California, you might be able to pick up a condo for $50,000 when at once it was sold for $200,000. But outside the anomalous cities, you just don’t score those deals – not in the Raleigh/Durham/Apex/Cary areas of North Carolina.

Down Payment Assistance Programs for Raleigh Area HomeBuyers

Up to $7,500* for down payment and/or closing cost assistance

Mortgage Rates Improve on Inflation Data

While consumers certainly struggle with higher gas prices, longer-term inflation trends generally are more influenced by other factors such as wages and housing costs, which recently have been increasing very slowly.

Five Great Reasons to Buy a Home today

Why You Should Start Planning To Purchase A Home If you’ve ever thought about buying a home, but decided … More Five Great Reasons to Buy a Home today