USDA Home Loan Environmental Requirements

We've recently run into a series of people purchasing homes in NC with Underground Oil Tanks.  If you are applying for a USDA Home Loan (or any other Government Mortgage Program, frankly) this can be a problem. The USDA Home Loan Handbook has this to say about Environment Requirements and Petroleum Tanks: The Agency must consider the management … [Read more...]

Secured Credit Cards

Trulia recently did a a study of first time home buyers and discovered that about 30% of the people they interviewed pretty equally fell into one of these categories: Wanted to Buy a home but they worried about down payment.  (If that's you - no worries, there are tons of No Money Down Home Loans!) Wanted to Buy a home but they worried that … [Read more...]

Good Credit Advice

First off... let's discuss what Secured Credit is. A Secured Card requires you to make a deposit in order to obtain the credit card.  If you are doing this - you are either a parent with a young child that needs a credit card - or you are re-building. Because there are other ways to obtain cash for a child- let's assume you fall into the … [Read more...]

USDA Student Loan Updates

USDA has long seen the benefit of a College Degree - and in fact USDA Home Loan Underwriters will use Higher Education as a "compensating factor" when a family is close on the debt ratios!  Unlike FHA and VA home loan underwriting, though, the no money down home loan programs offered through USDA COUNT deferred Student loans IN the total debt … [Read more...]

Comparing No Money Down Home Loans in NC

There are MANY  No Money Down Home Loan Options available to buyers in North Carolina.  This No Money Down Home Loan information is accurate as of today. If you get No Money Down Home Loan Information somewhere else, it may be inaccurate or out-of-date. What ARE the No Money Down Home Loan Programs? The No Money Down Home Loans are special mortgage … [Read more...]

USDA Home Loan Changes In NC Coming

This state has grown Soooo much, that when the 2010 Census maps were drawn up, and analyzed, it showed that 21 Communities in NC was scheduled to lose the opportunity to get mortgage loans approved using the USDA Home Loan Program starting October 1, 2012.  Congress passed the Senate USDA Appropriations bill, S.2375 which included a grandfathering … [Read more...]

Inquiries and Credit Scores

Does the TYPE of Inquiry on your credit report Matter? "Above the Line Inquiry" has an impact and the Below the Line - soft inquiry... does not.  The account review is below the line, where a creditor is just doing a check.  The folks who do an employment pull are also below the line. When you apply for a credit card, mortgage, car, etc - those … [Read more...]

USDA Home Loan Credit Qualifications in NC

Good News!  You do NOT need perfect credit to qualify for a USDA Home Loan!  Whew!  This 100% no money down program requires a MINIMUM credit score of 600 - but folks, just because you have a 600 score, doesn't mean you can purchase. These days - we normally need a score above 640 to get the loan approved by Underwriters... unless you qualify for … [Read more...]

USDA Home Loan Maps Wake Forest and Rolesville NC

It can be difficult to tell exactly WHERE you can purchase a home that qualifies for USDA Home Loan Financing.  These are 100%, no money down loans, with NO Monthly PMI (which makes them cheaper on a monthly basis than FHA, and you CAN make a downpayment if you want to...), and in most of the cases we see... the SELLER is paying the Closing … [Read more...]

Benefits of USDA Home Loans in Johnston County and Wake County, NC

USDA Home Loans are not just for buying farms! In fact, we don't really offer that kind of Rural Development loan!  We DO offer USDA Home Loans... 100%, No Money Down Home Loans that are insured by the USDA program! (Although if you want to use the USDA Home Loan to buy a horse farm in NC... you can!) These loans have less insurance than FHA … [Read more...]