Real Estate Sales for First Time Home Buyers in NC 2023

Have you ever heard of a ‘unicorn’ Real Estate market? No, it’s not a place where mythical horses roam free. In the world of real estate, a unicorn market is “something that is greatly desired but difficult or impossible to find.” And if you’ve been paying attention to the housing market over the past three years, you’ve witnessed such a phenomenon.  Real Estate Sales for First Time Home Buyers…

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5 Things to Know Before Buying A Home in NC

Hey there, future homeowners! If you’re dreaming about buying your very first house in North Carolina, I’ve got some pearls of wisdom for you. We believe that Home Ownership can build your families wealth in the strongest way possible.  We’ve built generational wealth for our family by purchasing homes in NC, and we want you to be a homeowner too!  That’s why I’ve put together 5 Things to Know…

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USDA Home Loan Income Limits Change In 2024

USDA Home Loans are no down payment loans with lower mortgage interest rates than Conventiona Loans. Two of the major USDA Home Loan Qualifying Requirements are that the property be located within in a “designated” USDA Home Loan area – and the household income must not exceed the limits below.  USDA Home Loan Income Limits Change in 2024, and in 2023, we are already using these higher loan…

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Mortgage Interest Rate Forecast July 2023

As we enter July 2023, the Federal Reserve’s decision regarding interest rates is eagerly anticipated. In their unanimous decision during the June meeting, the Fed opted to keep rates unchanged. However, the minutes from the meeting reveal a shift in sentiment, suggesting the possibility of a rate hike in July and potentially more increases in the future. This possibility of future hikes in Fed…

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USDA Home Loan Program in North Carolina

Looking to buy a home in North Carolina but not sure where to start? If you’re considering a USDA Home Loan, there are some specific areas in the state that are eligible for this type of financing. In general, you are looking for a spot that is outside of an Incorporated City Limit.  We love the USDA Home Loan Program in North Carolina, because it has so many benefits, even if you aren’t a first…

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Rental Income From A Vacation Home

Are you thinking of purchasing a second property but are worried that your income may not be enough to qualify for a second mortgage loan? One solution many people want to consider is using rental income from the property you plan to purchase to help you qualify for the new mortgage.  The trick will be using Rental Income from a vacation home, if you are planning to use the property for short…

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FHA Loan Limits in NC 2023

FHA Loan Limits in NC are set to adjust annually, and the 2023 FHA Loan Limits in NC were just announced last month. The important thing to remember when viewing these changes is that 5 times in recent years, FHA announced lower maximum loan limits for areas like Charlotte and Raleigh – this is the first time we’ve seen them go up year over year.  We believe this to due, in part to the fact home…

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Cash-Out Refinance in 2023 Could Save You Money?

The Federal Reserve just announced another Rate Hike, and the Prime Interest Rate is now 8.25%.  As of 2023, the Raleigh NC Market is still considered one of the fastest-growing real estate markets in the Country.   According to Trulia, if you purchased a home in Cary, NC, for $276,000 five years ago, that same house would likely be worth $420,000 today. This means that homeowners have built up a…

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How To Apply For First Time Home Buyer Grants In NC

If you’re a first home buyer you probably know that you could be eligible for government assistance in buying a home, commonly known as first home buyer grants.  The home buyer grants are also available to those who have owned a home before, as long as you meet the maximum income limits, don’t buy a house that’s too expensive and you’ve been renting for at least the last 3 years. How exactly do…

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Where are Mortgage Rates Headed in 2023

This morning one of my expectations for 2023 came to fruition, sooner than expected but as expected, Consume Price Index showed an increase in January instead of the declines we have seen over the past few reports. That surprise, in addition to the very strong jobs report in early February, gives validity to the language being used by the Fed that “rates will be higher for longer”. Where are…

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REBarcampRDU is coming to Raleigh REBCRDU

The Raleigh area will be hosting another REBarCamp. REBarcamp, or REBCRDU, will be held April 18th at the Cary Arts Center, and will feature a dynamic format used by Camps around the World. Never heard of a Real Estate Barcamp? We’ve had them in our area several times, and it’s an Energetic Event full of tips and best practices. We know that one of the ideas those in the Real Estate Community…

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Moving To Meadowmont Chapel Hill NC?

Moving To Meadowmont Chapel Hill NC?

Meadowmont in Chapel Hill is easily one of the more desirable neighborhoods in the Triangle for those looking for an urban feel neighborhood with suburban features.  Buying a house in Meadowmont Chapel Hill NC has been tricky in 2020 and 2021, but the market is cooling a little in the fall of 2022, with prices currently ranging from the high 700’s to over a million dollars.  What makes this area…

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Do Mortgage Lenders Look at Deferred Student Loans?

Do Mortgage Lenders Look at Deferred Student Loans?

You probably aren’t making Student Loan Payments right now.  Nobody is.  The Government put Student Loan Debt in a deferment, and you don’t have to make payments in 2022.  But maybe you should be making payments.  We take questions on this Blog, and we’ve been asked, “Do Mortgage Lenders Look at Deferred Student Loans?”  The answer is a resounding YES! In March of 2020 the US Government passed…

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Down Payment Assistance In Raeford NC

Down Payment Assistance In Raeford NC

We’ve done several loans for folks this year who wanted to purchase a home near Fort Bragg, but needed Down Payment Assistance in Raeford NC.  Several of them talked to Rocket Mortgage, but had a difficult time coming up with closing costs and a down payment… Not everyone living in that area, after all, has access to Military Benefits! The best news for folks who want to purchase in this…

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Lynchburg VA Homes

Recognized as one of the Best Small Cities in America, Lynchburg, Virginia is an area that loves nature, and values history.  Whether you are searching for an vacation spot with access to 40 miles of trails, or a great place for your family in the Virginia Mountains to settle into – you’ll love Lynchburg VA Homes. Available Housing:  Lynchburg VA Homes Because of the area’s history, there are…

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When Is Verification of Rent Required

When Is Verification of Rent Required

We are getting closer to the launch of the positive Rent Payment History being usable with Fannie Mae!  This big change will be positive for folks who might not have super high scores.  We find verification of rental important, especially for those who don’t have a long HISTORY of Credit.   Fannie Mae will begin Considering your Rental History in their Automated Underwriting Services beginning…

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Holly Springs NC Outdoor Parks and Golf Courses

Holly Springs NC Outdoor Parks and Golf Courses

The weather in NC allows you to enjoy outdoor activities year-round.  Holly Springs has a very active Parks and Recreation Department that manages miles of trails and parks.   Holly Springs NC Outdoor Parks and Golf Courses are top class, and one of the highest sighted reasons people want to relocate and buy a home in Holly Springs. Womble Park offers several playgrounds that look over ball…

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