Eleanor Thorne just updated NC First Time Homebuyer Programs on NC FHA Expert

Many people we talk to who had credit problems – have gone to an all “Cash” economy – meaning they don’t use credit at all any longer.  We totally understand that theory, but we feel that the better program involves having SOME credit active.  And today, that generally means that you need some revolving credit. [...]

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Eleanor Thorne just updated NC First Time Homebuyer Programs on NC FHA Expert

We get tons of questions from folks who have moved to North Carolina from another area, becoming landlords in the process.  Maybe you bought a home in Jacksonville, NC and now that you are out of the service, you are living in Charlotte. If you still have that home in Jacksonville, and you are renting [...]

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Eleanor Thorne just updated NC First Time Homebuyer Programs on NC FHA Expert

There’s an interesting article out today by Christina Mlynski, discussing the new nominee for the Head of the FHFA.  The Obama administration recently nominated NC Congressman Mel Watt for this job.  It’s the MASSIVE Agency that resides over HUD, Fannie Mae, Freddie Mac – all things mortgage. Apparently, these are the guys who initially came [...]

The post Could The New FHFA Head Change FHA PMI Endorsement Date? appeared first on NC FHA Expert.

Eleanor Thorne just updated NC First Time Homebuyer Programs on NC FHA Expert

For the past couple of years, when we talked to a borrower with a credit score of 580 to 600 – we told them they had a 3 to 4 month waiting period before they could buy a house.  In MOST cases, that was all the time we needed to help someone who was motivated, [...]

The post Minimum Credit Scores for Mortgages Spring 2013 Update appeared first on NC FHA Expert.

Eleanor Thorne just updated NC First Time Homebuyer Programs on NC FHA Expert

The North Carolina VA Loan Approved Condominium List And Homeowner Association Approval Process: Thank you for your Service!  In North Carolina we are fortunate to have so many bases, and with them – thousands of Service Members. VA Home Loans are one of our favorite Mortgage Programs, not because they are easy to do, they [...]

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Eleanor Thorne just updated NC First Time Homebuyer Programs on NC FHA Expert

USDA Home Loans in High Point, NC 27265 do not have a maximum loan amount – however, the property must be located within the USDA “Eligibility” area.  Most of the city is located in Guilford County, with portions spilling into neighboring Randolph, Davidson, and Forsyth counties. High Point is North Carolina’s only city that extends [...]

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Eleanor Thorne just updated NC First Time Homebuyer Programs on NC FHA Expert

If you are purchasing a Condominium in NC, and you are interested in getting a FHA Mortgage to help with that purchase, you need to check and see that the Homeowner Association (HOA) is already on the approved list by FHA.  Townhomes also share similar risks as Condominiums, however FHA no longer requires documentation on [...]

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Eleanor Thorne just updated NC First Time Homebuyer Programs on NC FHA Expert

USDA Home Loans in Belmont, NC 28012 do not have a maximum loan amount – however, the property must be located within the USDA “Eligibility” area.  Here are maps of the Gaston County area, remember that the “faint pink” parts on the map do NOT qualify for USDA Loans.  All of the OTHER areas, however, [...]

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Eleanor Thorne just updated NC First Time Homebuyer Programs on NC FHA Expert

We’ve known for a while that unless Congress votes otherwise – the USDA Home Loan footprint across the country is changing.  This is a pretty major issue, because USDA Home Loans are only available to folks who are purchasing a home within the USDA “Footprint.”  These are one hundred percent, no money down mortgage loans, [...]

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Eleanor Thorne just updated NC First Time Homebuyer Programs on NC FHA Expert

Many Condominium Projects in NC that were approved prior to 2011 have not had their approvals renewed.  There are specific guidelines issued and documentation that needs to be updated for the Condominium project to get approval.  Until that process is complete, projects that “lost” their approval are not eligible for FHA Mortgage Loans in NC. [...]

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