Real Estate Blog

5 Reasons Why Now is the Time to Move From Your Parents Couch


You love your family, but do you want to live with them forever?

Over the years, often because of the previous downturn in the economy, many younger adults have moved back into or never moved from a family member’s house.  Getting out of the family house can be difficult for reasons such as the following which we will show you how to solve:

  1. “I can’t move because I don’t have a down payment”
  2. “I will never be able to buy because of my credit problems”
  3. “A mortgage company won’t approve me because I live with family & have no rent history”
  4. “I have previous employment gaps and don’t I need to be on my job 2 years?”
  5. “I just don’t know what the first step is to buy a
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Learn the Top 10 Huge “What Not To Do When Buying a Home” Tips:

  1. Teacher quit job in June when the closing would be in July.  Borrower’s response:  “I’m a teacher and we take off the summer anyway so I will find another job somewhere when school starts back”.  We couldn’t believe this answer but this did not work obviously and had to wait until the borrower got a new job.  Unless your mortgage lender is definitely using other income like retirement or social security only, DO NOT quit your job!  Lenders will find out when a final verbal verification of employment is performed and that is not the time to find out.
  2. Borrower changed jobs in the mortgage process from an hourly nursing position of many years to a position as a traveling nurse being
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Renovation Loans Create Dream Homes

Think of all of the homes you search for that meet everything on the checklist.  BUT what if the home does not meet lender condition requirements?  Renovation loans hkitchen renovation loanselp finance a purchase along with the home improvements desired.  So many people watch shows on HGTV such as Fixer Upper, Love it or List It, and Flip or Flop.  Therefore it is reasonable to expect that the ideas start flowing for remodeling plans to turn that so-so home into a dream paradise.  Well, that is what our Renovation Loans allow buyers to do.  One can buy a home, contract for home improvements, close, and then complete the renovations.  Additionally, renovation loans solve a very common problem in the home shopping process.  No repairs are

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How To Take Accounts Out of Dispute Quickly & Free:

With so many people disputing accounts regularly, very few are aware how credit disputes impact their credit score. Make sure you're ready for the home buying process by ensuring the items disputed are removed. There are currently free ways for a consumer to have accounts taken out of dispute directly with the bureaus.  Make sure that you do this for anyone in the household that has disputes.  Please see the instructions below to remove disputes for Equifax, Experian, and Transunion:

  • Equifax:  Call 404-885-8300 and it is answered by a live person.  Tell them “I need to speak with someone in the Executive Consumer ServiceHow to remove credit report dispute language for an accurate and usable score for mortgage loan approvals Department as I need to have disputes removed from my credit report”.  
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USDA Eligible Areas – Fayetteville NC Effective February 2, 2015

 

Check out the USDA eligible areas that are around Fayetteville and Cumberland County below

USDA is a great program for first time or subsequent home buyers to be able to finance 100% (No Money Down!) of the purchase price in Cumberland County.  Much of Fayetteville is not eligible for USDA financing but once you are in the county, there are some USDA eligible areas.

USDA eligible areas near Fayetteville, NC

To Zoom in closer to view eligible areas or to type in a specific property address for USDA eligibility, following these instructions:

Click here for USDA Property Eligibility Search

You can search by “property eligibility”

Click on “single family housing”

USDA property eligibility search

Click “Accept”

Type in an

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Is it Okay For a VA Borrower Not to Primarily Live in the New Home?

 

Yes, in certain circumstances he/she can.  VA allows for this as long as someone in the family will occupy the home as the principal residence.  This can be used in situations such as:

  • A borrower’s family is moving to a new area but the borrower continues to work in their previous home / area while looking to transfer to the new home area

  • A service member is stationed a long distance from the home, but will come home on weekends or similar

  • A borrower has a history of working a long distance from their home such as a truck driver, national or regional sales, or others

  • A service member is waiting to be transferred to a new base but it has not

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How to Prepare for the Meeting with the Mortgage Lender

If you tuned in for our previous blog, then you know that we discussed the benefits of a Pre-Approval in the home buying process. This week we are taking some of the guess work out of the initial meeting with the Lender. The home buying process and the lending process are integral. It is our goal at Military Family Realty to make sure the home buying process is as seamless as possible, but it all begins at the initial meeting with your lender.

But you may be wondering, "What Should I Expect on My Initial Visit with the Mortgage Lender?" In short, the answer to this question depends on how prepared you are on the initial visit. If you are seriously looking to buy a home, you can avoid a lot of

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The Pre-Approval Process

 Applying for a loan and obtaining approval before finding a home has it's distinct advantages. Unless you are paying cash for a home, making a loan application is an inevitable step. So why not get started now?

Pre-Qualification vs. Pre-Approval

  • Pre-Qualification: This is the procedure in which you receive an opinion from a mortgage lender about how much you qualify for. Also this process would uncover any obvious difficulties that might pose a problem. While this process is recommended, the pre-qualification does not have all the advantages of a pre-approval.
  •  Pre-Approval: A pre-approval requires a complete application with credit reports and verifications. Time limits are usually placed on pre-approvals so
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Trying to Sell Your Home? 4 Tips for Making it a Reality This Season

While this time of year remains one of the slowest for real estate, modern technology has made shopping for a home more of a year-round process than it was in the past. Today's buyers can continue their home searches in the midst of the changing season with the help of the internet and mobile apps. Contrary to popular belief, sellers who weather the real estate market during the holiday season may enjoy several advantages. With so many realtors and homeowners clinging to the assumption that it is not worthwhile to list until Spring, buyers will have a smaller selection of properties from which to choose. Less competition increases the likelihood that a particular home on the market

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