Real Estate Blog

Will Credit Inquiries Hurt My Credit Score or Mortgage Approval?

So has the lending world scared you into believing your credit score is your whole meaning in life?  Obviously it isn’t, but it does play a very important role in key areas of life.  Some you may surprise you.  Credit scores could determine insurance rates, employment, opening a bank account, and of course, borrowing money.  Scores are especially important in mortgage lending.  There are several factors which make up a credit score.  One of these factors are credit inquiries.

A credit inquiry means a company or person is “pulling” your credit report.  Although there are more credit inquiries affect on credit scoresimportant factors, credit inquiries generally contribute to 10% of the overall score.  Therefore, credit

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First Time Home Buyer Admits “If I Had Only Done This”

Thinking about buying a first home and trying to figure out what to do can be an overwhelming thought.  There are a lot of things to consider such as price, payment, amenities, down payment, and qualification.  Plus spending and probably borrowing tens to hundreds of thousands of dollars is a huge step.  So foremost, a first time home buyer must be an informed and educated buyer.  In this article we want to provide the first time buyer how to avoid the worst mistake.  Also, throughout the article there are links to other helpful articles for first time buyers on this site.

Do Not Make This Mistake as a First Time Home Buyer!first time home buyer mistakes to avoid

There are a lot of firsts for a first time home buyer.  So,

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Why a First Time Home Buyer Should Avoid an Online Mortgage Lender Process

Are you currently living with family, staying with friends, or renting an apartment or home?  Are you like many that want to achieve the dream of homeownership for the first time?  This is a huge step and it should not be taken lightly.  Even though Millennials and others may prefer to text or message everything today, don’t do an exclusive online mortgage!  So why not an online lender and do the whole process electronically?  Because a first time home buyer loan process should start off with thorough conversations and ask detailed questions with an experienced loan officer.

These up-front, detailed conversations about goals, qualification, and products are key.  Just

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USDA Eligibility Revisions Made for Home and Property Requirements

So many prospective buyers look for a way to purchase a home with little to no money down.  Well, USDA Rural Development Guaranteed loans offer 100% financing qualifying buyers.  But in addition to buyers qualifying, the property must qualify as well.  Although USDA is extremely beneficial for buyers and sellers, USDA eligibility is a little different from other loans.  USDA Rural Development made recent revisions to the guidelines for minimum property requirements.  So let’s explain these recent changes.

First of all, why consider a USDA home loan?  Actually it is the best, little known mortgage available and it isn’t just for first time buyers!  One of the biggest roadblocks

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Waterway Landing Sunset Beach Condos are VA Approved

We are happy to announce that Waterway Landing Condos in Sunset Beach NC are now VA approved condos!  Along with the help of the HOA, property management company, and listing agent, we were able to obtain this VA approval.  So what does this mean for Waterway Landing Sunset Beach NC?  Plus how does this help buyers, sellers, and Realtors in Sunset Beach?

  • More options for owners to sellwaterway landing sunset beach nc
  • No money down financing available for Veterans
  • USDA approved too – No money down

Search for VA Approved Condos

As a Veteran or active military buyer, the simple condo life may be appealing.  Being able to own a property that has very little upkeep plus amenities is a positive for the busy

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Buying a Home With or Without a Green Card is Possible

The American Dream.  It looks different to each person, but a very common dream to many is the dream of homeownership.  Although, the homeownership dream is not reserved just for American citizens.  Non US citizens with a green card may be able to buy a home.  BUT, there are even ways to buy without a green card.  For instance, OVM recently closed a purchase for a buyer with an H1B Visa and no green card.  There are some additional residency guidelines that must be met, which we will explain further.

Is a Social Security Number Required to Buy a House?

Even though someone may not be a US citizen, it is very possible to have a social security card.  This unique identifying information

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How Many Times Can You Use a VA Loan?

February 11, 2014/in Frequently Asked Questions, Products, Tips, VA Loans

Picture this scenario which happens more than you may think.  A service member is being PSC’d to another duty station and wants to buy another home.  Maybe even the Veteran just wants to buy a bigger house in another neighborhood.  BUT, what if the current home can’t sell, so it needs to be rented?  Or the owner just wants to rent out the home for investment purposes.  Plus, the current home has a VA loan on it already.  So the question is asked, “How many times can you use a VA loan?” or “Can I use VA again to buy a home and rent out my other home?”.

How Many Times Can You Use a VA Loan?

Actually it is possible to have a second

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Buying Your First Home? We have $15,000 in Down Payment Assistance Available!

$15,000 Down Payment Assistance (DPA) – Wow! Close to FREE Money!

First time buyers in Cabarrus, Cumberland, Guilford, Johnston, or Mecklenburg Counties have a great opportunity.  These buyers may be eligible for the 15000 down payment assistance program ($15,000 DPA funds).  In addition, this program offers 0% interest and has no required payments.  But guess what???  It is FULLY FORGIVEN AFTER 5 ONLY YEARS!

Most of the time something like this is too good to be true.  In this case, it is True!  Last year this program was available to the first 1,000 loans.  But, this time the $15,000 DPA will be available to the first 3,000 loans.  So see the details below and

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Assistance Available for SC Buyers in Need of a Down Payment

So many things seem to block saving for a down payment on a house.  High rent payments, car repairs, hospital bills, plus other expenses get in the way.  But, there is a special program which allows South Carolina buyers to become homeowners!  It is called the down payment assistance SC program.  This program combines either an FHA or USDA loan along with $6000 in down payment assistance.  Therefore, it bridges the gap between the purchase price and loan amount.

Down Payment Assistance SC Features

We are happy to offer the SC Housing Homebuyer program with down payment assistance to SC buyers.  By combining the benefits of DPA with either a USDA or FHA loan, it helps create

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VA Cash Out Refinance Gives Great Options to Veterans

Most are familiar with the benefit of a streamlined refinance process for refinancing a VA loan to another VA loan.  It is typically used to lower an interest rate or term.  But another very helpful Veteran benefit is the VA cash out refinance.  Although, just because it is called a “cash out” refinance, that doesn’t mean a homeowner must receive cash.  This Veteran Administration loan just calls anything but an interest rate reduction refinance loan (IRRRL) a cash out refinance.  So the focus of this article is to explain how this refinance works and how it could benefit a qualifying borrower.

VA Cash Out Refinance Loan Allows the Following:

  • Refinance a conventional, USDA,
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