Should you talk to a mortgage professional before house hunting? - 01/16/07 11:11 PM
Absolutely! Even if you haven't so much as picked out houses to visit yet, it's important to see your mortgage professional first. Why? What can I do for you if you haven't negotiated a price, and don't know yet how much you want to borrow?
When I pre-qualify you, I help you determine how much of a monthly mortgage payment you can afford, and how much I can loan you. I do this by considering your income and debts, your employment and residence situations, your available funds for down payment and required reserves, and some other things. It's short and to the point, and I keep the pre … (1 comments)

What type of letter is needed? - 01/08/07 03:57 PM
What type of letter is needed?LOAN ARRANGER
After you've done the research needed to learn all the latest trends, mortgage jargon and interest rates, you may discover that you have to figure out what type of letter will be required by a seller.
There are three types of mortgage letters: the pre-qualification letter (pre-qual), the pre-approval letter and the commitment letter. Here is how mortgage letters typically work.
Pre-qualification letter -- This is a letter that is used in the early stages of the mortgage process. In the Triangle, this is typically what is requested by the seller from the potential … (3 comments)

My ARMs are getting so tired! - 01/08/07 11:11 AM
My ARMs are getting so tired!Loan arranger
While a 5/1 adjustable rate mortgage (ARM) may have allowed homebuyers to buy more home and keep payments down, that is not the case anymore.
Over the last two years, the savings gap between fixed-rate mortgages and ARMs has diminished. Just three years ago, there was easily a point difference between the two options. Times have changed and ARMs do not look as tasty to Chapel Hill home buyers as they did a short time ago.
Many home buyers have heard the stories of how their friends and family were able to buy nice … (4 comments)

 
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Chad Scoggins

Research Triangle Park, NC

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BB&T

Address: 5407 S MIAMI BLVD, Durham, NC, 27703

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