March 2017

Found 14 blog entries for March 2017.

Tips and Timeline for a Successful Open House – SOLD!


Successful Open House

In many markets a well prepared open house can attract buyers as well as realtors that could bring buyers and a hopefully a closed sale.

A successful open house is more than having a clean house, some flyers, and a sign.  This article will provide you with suggestions to give you a successful open house.

Put a plan in place to have a successful open house

Put a plan in place to have a successful open house

 

Weeks ahead of open house:

Preparing early will help you have a top notch open house

 

 

  1. All repairs and/or improvements you decided are to be finished
  2. Clear out the clutter (closets, pets, etc)
  3. Stage the home
  4. Landscape the yard and have fresh flowers in beds
  5. New
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North Carolina Property Tax Relief for the Elderly & Disabled

NC Property Tax Discounts Explained

North Carolina provides qualifying residents three great cost saving programs.  This article will explain NC Property Tax Discounts program benefits and requirements thoroughly.  In addition to showing you how to save money on property taxes, contact us to discover the best mortgage.  Mortgage loans available to retirees and disabled include VA, USDA, FHA, NC Housing Down Payment Assistance, and MCC income tax credits, and Reverse Mortgages.  Keep in mind when purchasing a home, you must own the home first and then can apply for any property tax relief programs.  Our goal is to ensure that qualifying NC residents save money.

 The 3 NC Property

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Is a Swimming Pool Going to Swan Dive Your FHA Loan?

Swimming pools:  You either love them or you hate them and usually there is no in between.  One family dreams of sun filled days splashing around in the pool where another sees daily chores of cleaning, making sure the Ph is at the correct level, or covering the pool for the winter.

So if a home you are considering to purchase includes a swimming pooland you plan to finance with the FHA home loan program, below are some items toconsider.  FHA appraisers are required to confirm that all systems, electrical, plumbing, etc. are in functioning order before your loan will be allowed to close.

Swimming pools & FHA mortgage requirements

Is a swimming pool considered in the appraised value?

If the swimming pool is in working

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Beware of the Public Water Connection FHA Rule!


Public Water Connection little known rule that can kill a closing!

Hopefully you have never been caught off-guard by this little FHA public water connection ruleknown Public Water FHA rule.  It can add a large unexpected cost to a purchase!

Did you know that if a property is using a well for it’s source of water and there is a public water connection “available” to the property, FHA requires that the public water connection be made to the home.  If you are buying or selling real estate in the county, this can come up more than you would like to.  Many properties may have a well installed forever but the county has run public water lines by the house.  This makes public water “available” and required to be connected prior to

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Rent your current home and buy your dream home with no money down!


purchase a home with 2 VA home loans at once

Rent out your current residence and purchase another home with VA using bonus or 2nd tier entitlement

Sound to good to be true?  This can be done by a Veteran, active service member, or qualified surviving widow of a service member purchasing a new home with a VA home loan!  These days if someone wants to rent out their current home and then purchase a new primary residence, most programs require either 2 years of tax returns proving the rent or requiring an appraisal to prove 30% equity in the home and a copy of signed one year lease with first month rent paid.

Well with a VA guaranteed home loan, a buyer may rent out their current house prior to closing, use up to

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How Many Times Can You Use a VA Loan?


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

How Many Times Can You Use a VA Loan?

Actually it is possible to have a second VA loan.  Actually, multiple VA loan situations happen right often. 

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When Does A Refinance Make Sense? Don’t Go By the Saving 2% Rule!


When should I refinance?

Refinancing a mortgage when rates are low can save homeowners thousands to tens of thousands of dollars over the life of the loan term.  Too often everyone hears “You shouldn’t refinance unless you can save 2% in rate” and if everyone waited for a 2% reduction, so many could lose out on a very big savings!  Believe it or not, borrowers can even save from only a 1/4% lower interest rate as long as the costs versus savings makes sense.

When does it make sense to lower my mortgage interest rate through a refinance

When does it make sense to lower my mortgage interest rate through a refinance

 

 Examples to consider when a refinance makes sense or not:

  1. Larger loan amounts do not need as much of a lower rate to
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Mortgage Rates Trend and an Improving Economy – How it Impacts You


It has started.  You hear the buzz everywhere talking about the future of interest rates, economy, and real estate market.  How many times will the Fed raise rates this year?  Should I lock in a mortgage rate now?  How is the job market doing?  Are housing prices going up?  No one has a crystal ball no matter how much one claims to know.  But let’s discuss the mortgage rates trend and how it affects buyers, sellers, realtors, and more.

Actually interest rate increases are a key indicator that the U.S. economy is improving.  Actually, low interest rates reflect a struggling economy.  For the last 10 years, the great recession and stimulus packages from the government have given

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Benefits of Homeownership & Equity

Many of our local real estate markets are actually doing so well that there is a limited amount of inventory.  Therefore this is another factor that assists owners and sellers.  It is a sellers market so buyers must be ready to jump on the right properties.  But even buyers could also benefit from this future growth.  Building equity not only creates wealth, it creates opportunity.  Opportunities are benefits that include:

  • Tax deductions
  • Eventual paid off home
  • Fixed payments
  • Pride in ownership
  • You’re the boss
  • Use of equity for future needs

Waiting For Rates to Drop?

Again, no one has a crystal ball and practically nobody expected rates to stay as low as they did for so long.  So rates

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Student Loan Payments and USDA No Money Down Loans


Student Loans and USDA Home Loans

Student Loan payments and USDA loansStudent Loan Payments and their Impact in the Total Debt Ratio

Student loan payments are such a burden to many Americans but they can also be very confusing when it comes to getting a mortgage.  Payments can be deferred until a later date, Income Based Repayment (IBR), fixed payments, graduated payments, adjustable payments, and others.  One thing buyers with student loans usually find out is that even though their minimum payments may be very low or even $0, that is not always the way mortgage guidelines look at it.  USDA, like other mortgage programs, has its own way of looking at student loan payments.

Recent USDA Clarification of Student Loan

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