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 …
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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 …
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Is a reverse mortgage right for me?
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% …
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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, …
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