Reverse mortgages have become an increasingly popular option for older adults to use as a strategic financial tool for retirement. Reverse mortgages, also known as Home Equity Conversion Mortgages (HECM), are still a somewhat misunderstood mortgage product; however, if appropriately used, a reverse mortgage can unlock …
Fannie Mae introduces 5% down payment opportunity for multi-family homes!
Exciting announcement: Fannie Mae introduces 5% down payment opportunity for multi-family homes! Calling all aspiring North Carolina real estate investors! Fannie Mae has made a groundbreaking policy shift to revolutionize your homeownership path. Starting November 18, 2023, they are rolling out a game-changing 5% …
Continue Reading about Fannie Mae introduces 5% down payment opportunity for multi-family homes!
How does a Bank Statement Loan work in North Carolina?
What is a Bank Statement Loan? For non-traditional wage earners in North Carolina who do not receive W2 forms, getting a mortgage to buy a home can be tricky. Traditional lenders often require W2 forms and tax returns as proof of income, which makes it difficult for self-employed individuals, freelancers, contractors, …
Continue Reading about How does a Bank Statement Loan work in North Carolina?
What to watch out for after getting pre-approved for a mortgage
A pre-approval is the first step in the homebuying journey for most people who need financing to purchase a new home. A pre-approval involves a mortgage lender reviewing your income, assets, credit, and debt to determine whether you qualify for a mortgage and how much you can receive. Getting a pre-approval letter …
Continue Reading about What to watch out for after getting pre-approved for a mortgage
Need money? Look at your house for a Cash-Out Refinance!
Are you struggling to keep up with high-interest expenses? Maybe you have credit card debt and are fighting to pay it off monthly. One option you may want to consider is a cash-out refinance. Refinancing can allow you to access funds from your home’s equity to pay off these expenses at a lower interest rate than your …
Continue Reading about Need money? Look at your house for a Cash-Out Refinance!
When should you lock in your mortgage rate?
Mortgage rates in North Carolina change a lot. They can move up or down throughout the day. They can be subject to many things, from the Federal Reserve (The Fed) announcing a rate increase to events occurring in the US or worldwide. You may have a conversation with your loan officer today only to learn that the rate …
Continue Reading about When should you lock in your mortgage rate?
