USDA Streamline Refinance No Appraisal 2/12

NC Residents are getting an added benefit from the Obama Administration during the next 24 months.  In a program announced for the economically hardest hit counties in the Country, last week USDA announced a new Streamline Refinance Program! Under the new program folks refinancing their USDA Home Loan will need to meet the following … [Read more...]

Home Inspection Reports Causing Headaches at Closing

Many home buyers get a home inspection prior to purchasing a new home in NC. We think that’s a great idea, but recently, we’ve run into some last minute problems that you should be aware of! (ESPECIALLY if you are applying for a USDA RD Loan in NC!) We first saw this problem last fall with USDA Home Loan Financing... now we are seeing it across … [Read more...]

USDA Home Loans – The OTHER 100% Loan

USDA loans are great for people in Wake County!  This 100% loan has some exciting differences to FHA and VA loans. USDA loans can be used for Manufactured Housing!  Since more than 35% of all housing in North Carolina is manufactured housing, this is a BIG PLUS!  Remember though, these must be NEW Installations - "existing" trailers do not … [Read more...]

Why Is It Taking 6 Weeks to Get A USDA Home Loan?

There's a ton of interest in 100%, no downpayment USDA Home loans in NC.  Unlike large Metro areas, like Washington DC, we have many large areas that qualify for USDA Mortgage loans near Raleigh! In fact, all of Johnston, Franklin, Chatam and Harnett Counties qualify for this program. Click here to see a map of all counties that qualify for USDA … [Read more...]

Proving Housing Expense When Landlord is Foreclosed Upon

Qualifications for a USDA Home Loan in North Carolina Rental Payments / Housing Expense We just sent a letter to a consumer applying for a USDA mortgage loan about a problem with the approval... "I completely agree with you that it's not your fault that the owner of the property was foreclosed against and due to the massive amount of foreclosures … [Read more...]

USDA Rural Development Switching Underwriters

USDA Rural Development Single Family Housing announced some consolidation and changes regarding WHERE files are going to be processed. No matter who originates a USDA home loan, it is re-underwritten (or processed) through a local USDA office. In the past, loans for Wake County went to Wake, Johnston County went to Sanford and Franklin County went … [Read more...]

USDA Rural Development Home Loans

Thinking about buying a home so you can get that Tax Credit? Don't have a ton of CASH laying around??  Well, the first thing you should do is call Steve Thorne to see where properties are in your area that qualify for USDA Rural Development Home Loans!  Steve is a USDA Rural Housing Mortgage Expert, and he can research your property and determine … [Read more...]

USDA Rural Development Loans and Liquid Assets

Some borrower's we talk to have ALWAYS been good savers, and they are drawn to the USDA Rural Development Home Loan program because it allows them to keep their savings (it's a 100%, NO downpayment required loan!)!   There use to be a rule that said you could not have more than $5000 left in liquid assets after closing to qualify for a USDA … [Read more...]

Best info On No Money Down Mortgages in NC

With the problems of lower values in Real Estate across the country - we talk to folks daily who left a home in some other area, came to North Carolina for a job.... and now want to buy a house.  The only problem for these folks is typically one of CASH for the down payment!  There are two great programs available for no money down home loans, 100% … [Read more...]

Can You Qualify For A Mortgage If You are Not Married??

If you found this post, you have a very specific question, and the very SHORT answer, is PROBABLY. Exactly what type of mortgage you get, is a slightly more detailed answer! VA LOANS:  VA says that if you are going to purchase with another person they will recognize legally married spouses of qualified veterans as co-signors on VA loans.  … [Read more...]