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FHA Approved Condos Search

In order to purchase a condo with an FHA loan, the complex must be approved.  FHA approved condos combine simple living with affordable financing.  But in order to use FHA, the complex must be on the FHA Approved Condos website.

Directions for Searching for FHA Approved Condos:

Follow these steps to find FHA approved condos quickly.  The site is a picky one, so make sure you try several ways

FHA approved condos search online

When using FHA to purchase a condo, you must search for approved condos first

  • Click here FHA Approved Condo Search
  • Choose to search by state or city & state
  • Best not to type the name of the condo complex
  • Try searching different ways because often a condo will not show in a particular city.  Yet it will show…
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Veterans, How to get Your VA Award Letter for Your Mortgage

VA Award Letter to Document Your Income

Initially, when you purchase or refinance a home, mortgage lenders will require documentation of your income.  So, if you receive VA disability or retirement income, VA loans require a current VA Award Letter.  Furthermore, this will provide the exact amount of your VA income and the level of disability.  Additionally, the VA Award Letter will be used to calculate debt ratios and residual income.  Many Veterans are not sure how to get their Award Letter, so we have provided the easiest way below.

Steps to Get Your VA Award Letter Online

  • Go to the VA e-benefits page for letters by clicking here
  • Login using your VA login credentials…
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Buying Your First Home? Starting 10/17/16 we have $15,000 in Down Payment Assistance Available!

$15,000 Down Payment Assistance (DPA) – Wow! Close to FREE Money!  Beginning 10/17/16!

First time buyers in Cabarrus, Cumberland, Guilford, Johnston, or Mecklenburg Counties have a great opportunity.  These buyers may be eligible for the $15,000 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…

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Have you ever thought, "I can't seem to find exactly what I'm looking for!"

Then the Custom Home Building Route might be right for you. Custom Home Building affords the buyer certain advantages not available in the typical home buying process. Consider these advantages:

1. The Buyer's Home can be Built to their Specific Tastes. In general, when buyers are deciding between Tract Homes and Custom Built Homes, some buyers will gravitate toward Custom Built Homes. Unlike Custom Builds, Tract Homes are built with very little variation and are designed to fit into a "built-in community" feel. 

2. The Buyer has the Ability to Choose the Location of their Home. You can choose everything, from your desired community down to the street and lot you'd…

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Top 5 Things to Consider When Buying a Home

Buying a home can be a daunting process. Don't get overwhelmed, Check out these helpful tips:

  1. Visit the Home at Different Times of Day- The best way to see what it would be like to live a particular neighborhood is to ride through the area at different times of day. This will allow you to see how quiet or how busy the area truly is.
  2. Look at the Crime Report- Most local police offices can provide you with the crime statistics, but there are also many online resources you can use. The website: https://www.crimereports.com/ This site allows you to search by zip code. 
  3. Test Your Commute- Nothing can negatively affect the joy you'll receive from a property more than a long commute time. Weekend…
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Military Family Realty Patriot Program Offers Huge Savings

Military Veterans can receive big discounts off closing costs and even pay off bills by using the Military Family Realty Patriot Program.  Team Move Mortgage and Only Way Realty Carolina have joined to provide this wonderful program that saves Veterans money.  This product is available throughout NC and the surrounding areas. As a result, Veterans, Service Members, and surviving spouses have a better way to buy a home!

The Military Family Realty Patriot Program combines the benefits of a VA home loan with additional savings and credits of up to $1,000 with Military Family Realty, LLC as well as a 1% lender credit from Team Move Mortgage.  So check out this chart for details.

These credits…

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Homebuyer Series: “I Want to Buy a Home-In a Year or Less” No to Low Down Payment Financing Options

Homebuyer Series: Understanding no to low down payment options

 

No to Low Down Payment Options

In this series, we are providing tips to avoid the Most Common Roadblocks to Home Ownership.  So far in previous weeks, we have discussed how to solve 1) limited or bad credit, 2) no down payment, 3) not having a budget, 4) documenting rent history, 5) not understanding a Buyer’s Agent role.  Today, we are discussing Roadblock # 6:  Understanding the no to low down payment options. 

Many say, “I have heard of FHA, but that is about it for mortgage loan knowledge”.  A lot of buyers misunderstand mortgage requirements.  Often buyers believe the options require perfect credit, 20% down, or an FHA loan. …

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Mortgage prequalification letters can be worthless words on a paper or it could close the deal!

Nowadays just about every real estate agent requires that a buyer be prequalified prior to spending valuable time and money showing houses to a buyer.  Some buyers still ask “Why is this needed?” and there are a lot more reasons than you may think.  If you haven’t read our recent article “Prequalification letter, why are buyers agents requiring it before showing houses?”, check it out here.

One thing to know as a buyer, seller, and Realtor is that not all prequalification letters and lenders are created equal.  There are 3 main categories of prequalification letters offered by lenders which we explain today so that you have the knoMoving daywledge to make your best…

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How to Read My VA Certificate of Eligibility Entitlement Code

August 30, 2016/in 1st Time Buyers, Frequently Asked Questions, Tips, VA Loans

VA home loans provide active service members and Veterans with an affordable, no down payment option to purchase a primary residence.  Even though VA loans are such a great option to buy a home, many Veterans are not aware of potential eligibility.  So it is our goal to educate Veterans and service members of their benefits.  Lenders review many areas for determining VA qualification.  Today we are discussing the VA Entitlement Code which is listed on the Certificate of Eligibility.

VA Entitlement Code MeaningsVA entitlement code explained

Service members and Veterans know that a VA loan requires a VA Certificate of Eligibility. …

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Minimum Credit Requirements for USDA Loans Now Includes:

  • Minimum number of trade lines to validate an applicant’s score is only two instead of 3
  • Eligible trade lines include revolving (credit cards, lines of credit), installment loans (car loans, furniture loans, and other types of term loans), & mortgagesUSDA eligibility map
  • Qualifying trade lines must be open at least 12 months
  • Nontraditional or alternative credit is allowed to supplement the credit report to meet the requirement **
  • At least one applicant whose income and assets are used for qualifying must have a valid credit score

** Alternative credit includes items such as car insurance, life insurance, utilities, cell phone, gym membership, small store accounts not reporting on credit, school…

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