Eleanor's RTP Blog

Mortgage and Lending - Equity Resources - NMLS 67179 Licensed in NC
Covering housing and economic trends of all points surrounding the RTP / RDU (Research Triangle Park), including the major markets of Cary, Holly Springs, Raleigh, Wake Forest, Chapel Hill, Durham and Johnston County.
Your credit score is made up of several things. I’m going to give you some examples, based upon the weighted average of how it will impact your score, of things you can do to improve your credit score.  Obviously, my hope is that you will use this information to raise your credit score and buy a ...
I don’t normally write about this sort of thing – but I think we need to have a quick “fire side chat.”  By that, I mean that I think it’s important for you to know what’s really happening over here in Mortgage World, behind the curtains… and I want to suggest that right now, more than at any oth...
Someone asked me to write a Real Life Example of people who bought a house. We close over 50 loans most months, so that’s a pretty wide open request.  I’m going to take 3 real life examples of what some folks did to buy a house and see if that helps.  I chose to write about First Time Home Buyers...
Many home buyers in NC are trying to figure out just how much cash they are going to need to buy a house.  Two years ago, it wasn’t as big a question, because you could use no down payment programs (literally not needing any money for a down payment) and then you could get the Seller to pay closi...
Western Wake County, especially the areas closest to Fayetteville, are growing like wildfire. Not surprising, you can benefit from a home that’s located in “small town USA” with award winning schools!  Fuquay Varina and Garner are two cities that have benefited from this unique location.  Unfortu...
We work with many people who are qualified for a mortgage some where else (Rocket Mortgage for instance) but call us because they need help with the down payment or closing costs.  In most cases these days, Sellers are not willing to take a contract that requests closing cost be paid by them.  Be...
In North Carolina, we don’t have a ton of properties that are sitting in a high risk of flood, but there are some properties in almost every county, with a particular concentration in the Eastern part of the State.  In some cases, the whole lot is not in the flood plain, only a portion of the lot...
FHA Appraisers have certain requirements that go above those required of a Conventional Appraiser.  Because of that, FHA Appraisals are more detailed, and are usually at least $50 or more expensive. Structural Requirements for FHA Loans means that the Appraiser must note that the Utilities are on...
Down Payment for a home is generally believed to be the biggest obstacle facing first time home buyers in NC.    About 11% of conventional mortgages written in the 2nd quarter of 2017 had an LTV above 95%, which is double the same period just 1 year earlier.  Couple that with the fact that the Ho...
For the last 30 plus years I’ve been a Lender we could not make a loan to anyone who had a tax lien attached to their credit report.  But what if it isn’t a lien, what if you just OWE the Federal Government money?  Can you buy a house with a tax lien, or a tax liability?The PROBLEM with owing tax...

Eleanor Thorne

Equity Resources 919-649-5058
I Answer Questions :)

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