Using USDA To Purchase A Home After Foreclosure

If you are one of the millions of families that lost their home in the last couple of years to Foreclosure… you might think… Been There – Done That You might not want to own a home again! But if you’re one of those folks who truly does want to purchase again, here’s some potentially good news. USDA says that they will allow you to purchase a … [Read more...]

USDA Home Loans and Deferred Student Payments

People are moving to the Raleigh / Cary Metro area to go to one of the more than 20 Universities and Colleges we have in the area... and after graduation, they often stay in the Triangle because we have jobs.  As folks are ready to put down roots and buy a home in Raleigh, they need to know how those Student Loans might affect them when they apply … [Read more...]

USDA Home Loans have PMI?

USDA loans are the coolest loans on the planet right now, and most people don't understand that it has a form of mortgage insurance... Mortgage Insurance does not pay your mortgage off when you die (well, maybe there's a kind that does, but that's not what I'm talking about).  The PMI-type mortgage insurance is default insurance. It covers a small … [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...]

Applications for FHA / VA/ USDA Mortgages Up!

According to the Mortgage Banker's Association in Washington, DC, the applications for "Government" backed loans is MUCH higher than for any other segmant in the market.  Traditionally, if you were interested in purchasing a $300,000 house - you would consider a Conventional Mortgage Loan.  We would often do those loans as 80-15-5 with the borrower … [Read more...]