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USDA Home Loan Refinance With No Appraisal in North Carolina - 02/24/12 06:58 AM
NC Residents are getting an added benefit from the Obama Administration during the next 24 months.  In a program announced for the economically hardest hit counties in the Country, last week USDA announced a new Streamline Refinance Program!
NOT ALL STATES HAVE THIS PROGRAM.  It is unique to North Carolina.
Under the new program folks refinancing their USDA Home Loan will need to meet the following guidelines:
No appraisal required – the current residence must be in a USDA “Footprint Area” and currently be insured under the USDA program.  So refinancing from a Conventional loan or a FHA loan to USDA … (1 comments)

Different Kinds of Mortgage Insurance (PMI) - 02/10/12 03:58 PM
Most folks want to avoid PMI… but they don’t realize that they are happily paying a “kind” of mortgage insurance no matter what kind of loan they are getting!
Mortgage Insurance is not the insurance that covers you if you die, or are disabled and can not pay the mortgage… it’s the insurance that protects the BANK in the event you go into foreclosure.
Given the recent UP TICK in foreclosures, you can see why banks are requiring higher coverage amounts!  If you are applying for a Conventional mortgage, and you are putting more then 20% on a property you plan to … (2 comments)

 
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Eleanor Thorne 919-649-5057 Cary Mortgage Loans

Cary, NC

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Steve Thorne NC Mortgage Experts

Address: 111 Corning Road, Suite 230, Cary, NC, 27518

Office Phone: (919) 649-5058

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