-
News You Can Use
Who says there are limited lending options these days? Sure, mortgage lending guidelines have tightened but that was a reasonable response to loose lending which resulted in high levels of fraud and loan default. That doesn’t mean all of the exciting programs are gone.
Just this past Friday North Carolina Housing Finance Agency announced they are offering a 3.99% fixed rate program for buyers of eligible NCHFA owned foreclosures. Holy cow. Potential buyers can browse these homes to score an incredible deal. NCHFA is no stranger to offering incredible options to home buyers. In addition to this REO program, their offers range from $8000 down payment assistance to an additional tax credit.
People often wonder why it is important to be fully preapproved before searching for their next home. When a client has the opportunity to look at their “big picture,” they benefit in several ways. By examining all their variables, clients are presented with program options – some they might not have even heard of. As their mortgage adviser, we talk about what they can really afford, weigh the pros/cons of different programs and evaluate what will be a short and long-term smart choice. As a home buyer, having an advocate in your corner before you begin the home search process can really pay off. There are just too many opportunities out there to leave a great one on the table.
Featured Loan Program
Mortgage Credit Certificate
Cunningham & Company along with North Carolina Housing Finance Agency offers the Mortgage Credit Certificate program to help qualified homebuyers obtain a federal tax credit.· Must meet income requirements, sales price, and first-time home buyer guidelines· MCC can be used with almost any type of mortgage, including adjustable rate mortgages.· Eligible buyers can claim 20% of their mortgage interest (up to $2000)Have You Heard?
Lá Fhéile Pádraig Sona Duit! You’ll be hearing that a lot if you venture into town on Saturday the 13th for the 14th Annual St. Patrick’s Day Parade and Charlotte Goes Green Festival. Afterward, be sure to check out the newly restored Ri Ra Irish Pub. After being damaged by a fire last May, they are back in the game and ready for the crowds.Enjoy this info? Would you like to receive Monday Money Matters in your inbox? Subscribe here!