Eleanor's RTP Blog

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Mortgage and Lending - Equity Resources
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.
There are new down payment grants available in NC to help first time home buyers buy a house!  The program is not available through all lenders, and it is one that we are really excited to offer.  These $15,000 down payment grants are only available in Mecklenburg, Cabarrus, Guilford, Cumberland ...
First off – A DAP is the “mortgage babble term” for Down Payment Assistance Programs.  These programs USE to be funded by a SELLER paid contribution – these days, however, “the Home Seller can only help buyers pay closing costs by giving a portion of their proceeds back to the buyer at closing, i...
Since the Great Recession, we’re talking to people with more than $70,000 in Student Loan Debt several times a week.  For the most part, these are NOT lawyers or doctors, or folks who are otherwise being paid in excess of $70,000 a year.  No, these are folks who have this student loan debt in a d...
We are talking to folks every week who lost a job in the last several years, lost medical insurance – or had some other tragedy that made it necessary for them to take steps they never thought they would have to.  The reality is that in today’s economic conditions, unfortunately, bankruptcy has b...
I've been in the Mortgage Business since I was 15 - working with my dad during the summers at a PMI Company putting together MBS Packages for sale.That's more than 40 years of experience watching the Industry "find" fax machines, computers, pagers, and now putting a toe in the water with social m...
USDA has long seen the benefit of a College Degree – and in fact USDA Home Loan Underwriters will use Higher Education as a “compensating factor” when a family is close on the debt ratios!  Unlike FHA and VA home loan underwriting, though, the no money down home loan programs offered through USDA...
We’ve had a ton of questions from folks, looking for information about their Student Loans, and how the payments on the deferred student loans, and IBR Student Loan payments will be looked at when they are applying for a mortgage.  Unfortunately, these questions are pretty difficult to answer in ...
If I wasn’t in the mortgage business, I would think you could just paint somebody’s house on the weekend, and take that cash to put down on a house. Well, it’s not as easy as that when it comes to what the folks approving the loan are looking for. Bank Underwriters want “sourced” deposits, and te...
On March 26th, I woke up in a different body... literally.  I had a stroke, and there are some pretty important lessons I've learned in the past month, that could change your life too.   The  first thing I think everyone should know is that not all strokes leave you with the inability to talk, or...
We get questions quite often on this site, and we try to answer them as quickly as possible.  Some of them really need a “whole page” for us to answer, and this is one we’ve seen quite often.  Married Couples who want to buy a house, but… they want to buy but one has bad credit.  They want to bu...

Eleanor Thorne

Equity Resources 919-649-5058
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