According to the USDA Guaranteed Rural Housing Development Program and under the Section 502 program, Housing must be modest in size, design, and cost. Houses constructed, purchased, or rehabilitated must meet the voluntary national model building code adopted by …
To encourage the purchase of REO properties,Fannie Mae is introducing a closing cost incentive for home buyers for primary residence purchases with a closing date on or before June 30, 2011. This incentive reinforces Fannie Mae’s commitment to stabilizing communities …
Buyers Receive up to 3.5% Toward Closing Costs from Fannie Mae! Read more »
Celebrating life since 1979, Hospice of Wake County provides physical, emotional and spiritual care to those living with an advanced illness, their caregivers and those who have lost a loved one. Services include Hospice Care, Palliative Care, transitional Home Care, …
FHA – In addition to normal employment verification, a borrower employed by a family owned business is required to provide evidence that he/she is not an owner of the business, documentation may include: 1. Copies of signed …
Underwriting Tip – Borrowers Employed by Family Business Read more »
FHA Underwriting Tip; FHA allows a borrower to meet the minimum statutory investment by using gift funds from either a close family member, government agency or approved non profit. FHA requires that all gift letters include the section 1010 verbiage below – …
FAQ – What is the FHA Gift Funds Section 1010 Verbiage Read more »
SOLID Stays Informed: The Inside Edge from the Raleigh Mortgage Guy Mortgage Rates Improve on Debt Warning With little economic data, it was a relatively quiet week for mortgage rates. The biggest economic news was a surprise warning from a …
Up to $7,500* for down payment and/or closing cost assistance
A recent report by the National Association of Realtors identifies homeownership’s numerous social benefits. The report, “Social Benefits of Homeownership and Stable Housing,” cites extensive research showing that homeownership increases civic participation, lowers crime rates and boosts children’s educational performance. …
While consumers certainly struggle with higher gas prices, longer-term inflation trends generally are more influenced by other factors such as wages and housing costs, which recently have been increasing very slowly.
The terms of your loan will not change, because they are contractually agreed to in your promissory note. Checks should be made payable as usual and sent to the same address until further notice. If you have further questions regarding an existing loan you shuold contact your loan officer. Ricardo Cobos is a mortgage loan officer in Raleigh North Carolina specializing in low down payment and low interest mortgage loans. (919) 559-3384