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Found 22 entries about Mortgages & Lending Information .

Everybody Calm Down! This is NOT 2008

Last week realtor.com released the results of a survey that produced three major revelations:

  • 53% of home purchasers (first-time and repeat buyers) currently in the market believe a recession will occur this year or next.
  • 57% believe the next recession will be as bad or worse than 2008.
  • 55% said they would cancel plans to move if a recession occurred.

Since we are currently experiencing the longest-ever economic expansion in American history, there is reason to believe a recession could occur in the not-too-distant future. And, it does make sense that buyers and sellers remember the horrors of 2008 when they hear the word recession.

Ali Wolf, Director of Economic Research at the real

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Do You Know Your Credit Score

Many people assume their credit score is too low to qualify to purchase a home. In reality, 84% of Americans have a credit score that would allow them to become homeowners! If you'd like to find out more about what your credit score really means, (it means much more than simply whether you qualify for a mortgage or not) let's get together and chat.

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What Experts Are Saying Summer 2019

What Experts are Saying About the Current Housing Market

We're halfway through the year, and with a decline in interest rates as well as home price and wage appreciation, many are wondering what the experts predict for the second half of 2019.

Here is what some experts have to say:

Danielle Hale, Chief Economistrealtor.com

Lower mortgage rates, higher wages and more homes for sale have helped counteract rising home prices, and ultimately, made it so that buyers are able to afford more than last year.

Our outlook implies 4% growth for the remaining months of the year, predicated on more supply than last year, the decline in mortgage rates, moderating home price appreciation and improving affordability.

Lawrence Yun, Chief

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Saving for a downpayment

Buying a home is one of those big milestones in life that many expect they’ll do someday but aren’t quite sure how to get there. In order to be approved for a mortgage, you’ll need to overcome the first and biggest hurdle: having enough money for a down payment. Saving for things is hard, especially when you’re trying to save up a considerable amount. That being said, these savvy money-saving tips might be just what you need to help you get there, sooner rather than later. 

How Much Money Do You Need For A Down Payment On A Home?

saving for a down payment on a houseThe amount you’ll need for your down payment will greatly vary depending on your lender and financial situation. Typically, down payments range from 5% to 20% of the home’s value, so a home that’s $250,000 and a loan

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7 things you need to know before buying a rental property

Is Buying A Rental House or Condo A Good Idea?

Owning a rental property has potential to create extra income if you properly prepare. There are a variety of circumstances that lead our clients to consider owning a rental property. We work with clients targeting investment properties to rent.

One of our top priorities is to ensure our clients are comfortable pursuing the option that best fits their needs. We work with clients that  would like to turn the investment into a full-time income, or are turning to rental options as a necessity. The following are a few areas that can begin the consideration process for owning rental property.

How do I prepare for owning a rental property?

1. Get your finances in order                     

You

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What documents you need to keep after buying a home

When you buy or sell a home, you have to review, initial and sign many documents. So many that it can feel a bit overwhelming. So when the sale is final and you start to move in (or out), there is a huge temptation to throw all those documents away. That would be a big mistake, because you never know what problems or issues might arise in the future. To avoid those headaches, it’s important to understand what the closing documents are for, and how long you should keep them.

Here is a basic guide to help you:

Keep These Documents When Buying A Home

closing documents to keepWhen you close on a home, you’ll get a mortgage agreement, various addendums and disclosures, the deed and the settlement statement, among other documents. Some documents you’ll get right away, and

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Is it really better to rent rather than buy a home?

These days, people are questioning the value of homeownership and wondering if it's better to rent instead. Some experts have concluded that renting is better, and they've come up with several reasons, listed below.

However, those reasons are dubious at best and just plain false at worst, at least as it pertains to buying vs. renting in the Triangle region. Here are three common reasons why renting is better than buying, and our answers to them.

You don't have to pay taxes and fees

The argument goes that when you rent, that's all you pay. You don't have to pay the property taxes and other fees that go along with owning a home.

While it's true that you don't write out a tax check every year, you are covering the cost of those taxes and

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Realtor.com recently released their national housing forecast for 2017 that includes big news for the Raleigh-Cary and Durham-Chapel Hill real estate markets. According to the report, home prices and sales are expected to rise across the country next year by 3.9% and 1.9% respectively, although the Triangle Area is predicted to see some of the highest increases across all of the markets.

Raleigh in particular could see home prices rise 4.16% next year with an estimated growth of 7.6% in home sales, which could make them one of the 10 strongest real estate economies in the nation next year.

The report ranks Durham –Chapel Hill just a few spots behind Raleigh, with an expected increase of 2.55% in home prices and 8.95% in sales. So far this year,

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Durham & Chapel Hill real estate market update - Spring 2016So here we are again at the beginning of another spring market in the Durham/Chapel Hill area. The azalea's are in bloom, despite abnormally low temperatures, and things are looking beautiful. It's a great time to go out and start your home search, or is it?

Over the last few years the real estate market in our area has gotten tougher and tougher for buyers in Durham and Chapel Hill. We are seeing very little inventory and prices are going up up up. For example, in Orange County, year over year, the median sales price is up 34.8% and inventory is sitting at a 4 month supply, where 6 months is considered a balanced market. Durham county is up 17.1 % and inventory is sitting at a staggering low of 1.9 months of supply. So some buyers are asking

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Why get pre-approved for a mortgage before looking at homes“Why do I need to get Pre-Approved?” is a question we get asked almost every day at My NC Homes when we speak with perspective home buyers. Some tell us "I went online and know I’m qualified". While that might be the case, it's important to understand the differences between Pre-Qualification and Pre-Approval when it comes to the mortgage process.

The Differences Between Pre-Qualification & Pre-Approval

Two often confused terms in the home buying process are a mortgage pre-qualification and a mortgage pre-approval. Even some loan officers and real estate agents will use the terms incorrectly or may not fully understand the difference between the two. If you are looking to buy a home in the Durham/Chapel Hill/Cary area it is critical that you get

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