Eleanor's RTP Blog

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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.
RECENT BLOG POSTS
FHA has two forms of PMI on each loan.  One part if charged upfront, at closing, and it is generally added to the loan amount.  There’s no way for that FHA PMI to refunded or “cancelled.”  It’s just there.  The second part of FHA PMI is what is paid on a monthly basis.  There are some opportuniti...
06/14/2013
Effective October 1, 2013 the USDA Home Loan Maps in NC will be changing.  We have printed off the comparision of what works NOW and what will be in-eligible for the USDA Home Loan program this fall.  Belmont and Gastonia NC are areas close to Charlotte, NC that will see significant changes. This...
05/16/2013
If you are purchasing a Condominium in NC, and you are interested in getting a FHA Mortgage to help with that purchase, you need to check and see that the Homeowner Association (HOA) is already on the approved list by FHA.  Townhomes also share similar risks as Condominiums, however FHA no longer...
05/14/2013
We’ve known for a while that unless Congress votes otherwise – the USDA Home Loan footprint across the country is changing.  This is a pretty major issue, because USDA Home Loans are only available to folks who are purchasing a home within the USDA “Footprint.”  These are one hundred percent, no ...
05/07/2013
I’ve never accepted a guest post on our site – however, I received a letter from a borrower who is frustrated by the FHA Streamline Refinance System.  The Borrower (who lives in NC) has a FHA loan, and wants to take advantage of the low FHA Mortgage Rates – however, her loan was endorsed 11 days ...
05/06/2013
We've talked to a ton of First Time Homebuyers this Spring who want to buy a home in NC - but they are finding it to be a somewhat difficult process, especially with the new NC First Time Homebuyer Program that requires even higher credit scores.   I made a series of this inspirational messages ...
04/30/2013
In NC you can use the Good Neighbor FHA Program to purchase a FHA Foreclosed home at 50% of the list price!  Sound too good to be true?  Well, there are (as of today) 9 homes that qualify for this program in NC - and more come on the market all of the time! Where are the Homes located? Homes that...
04/24/2013
Great News!  You don’t necessarily need to be employed to qualify for a VA home loan.  We can count retirement income for Veterans, child support and Alimony can also be used to qualify for a VA mortgage loan too.  The important thing to remember when you are looking at Income Sources Qualifying ...
03/19/2013
There are tons of folks who want to refinance their house in NC – but don’t think it will appraise for what they owe.  Did you know that there are SEVERAL programs available that do NOT require an Appraisal?  If Fannie Mae or Freddie Mac have your mortgage – you can get a loan for more than 125% ...
02/25/2013
Cary Park is a very popular subdivision in Cary, North Carolina. There are a combination of condominiums, townhomes and single family homes ranging in price from the mid $140’s for a two bedroom condo to the mid $180’s for a three bedroom townhome and single family homes start in the mid $300’s. ...
02/11/2013
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