What is mortgage insurance? Mortgage insurance, or MI, gives eligible North Carolina homebuyers the flexibility of making a smaller down payment by lowering the risk to the lender originating the loan. Without mortgage insurance protection, lenders normally require a borrower to make a down payment of at least 20% of …
Understanding closing cost assistance
How to beat the closing cost doldrums Are you in the final stretch of buying your first North Carolina home, only to be surprised by unexpected closing costs? If you've been diligently saving for your down payment, additional expenses like closing costs can take a big bite out of your budget. Imagine you've managed to …
Continue Reading about Understanding closing cost assistance
Is a bridge loan a good way to buy a home?
Is a bridge loan a good way to buy a home? A bridge loan is a financing option that allows you to use the equity of your current North Carolina home as a source of funding for a new home. A bridge loan is a short-term loan used as a financial bridge between selling your current home and purchasing a new one. Bridge …
Continue Reading about Is a bridge loan a good way to buy a home?
What is an FHA Loan?
What is an FHA Loan? An FHA loan is a mortgage insured by the Federal Housing Administration (FHA). It is particularly popular with first-time homebuyers in North Carolina because it allows borrowers to finance homes with low down payments, sometimes as low as 3.5% of the sales price. Borrowers with lower credit …
8 reasons to buy a house in North Carolina this winter
Why purchase in winter? Many people believe spring is the best time to buy a home, but winter is a great time to make a purchase, especially in North Carolina. While the weather may not be as inviting, there are several advantages to buying a home during the winter months. Buying a home during winter can be a smart …
Continue Reading about 8 reasons to buy a house in North Carolina this winter
What is an escrow holdback, and how can it benefit you?
What are the advantages of an escrow holdback? Purchasing a home can be an exciting experience. Still, it also comes with challenges, especially when dealing with a delayed closing due to repairs and improvements discovered during the homebuying process. Sometimes, the loan closing could be contingent upon these …
Continue Reading about What is an escrow holdback, and how can it benefit you?
