Conventional 3% Down Mortgages 27 FAQ’s

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…

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…

8 Basic Requirements of the Ability to Repay Mortgage Rule

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:

HUD Predicts Some Rents increased by as much as 25% in Raleigh – Cary MSA 2013

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.

Raleigh Area Fourth of July Festivities 2012

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 a moment to thank a current or former member of the armed services or if…