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203k: FHA Underwriting Guidelines for NC - 08/02/11 12:27 PM
We talk to people everyday who have questions about qualifying for a FHA Mortgage Loan in NC.  FHA Underwriting Guidelines, are actually pretty straightforward. 
Unlike qualifying for a VA Mortgage loan (where you must be a qualifying Veteran) or a USDA Home Loan (that requires that you meet income limits for your county and the property must fit within the USDA RD Loan Footprint) – FHA has far fewer restrictions!  They do have Maximum Loan Amounts, which vary per county – but other than that, just about anyone who wants to purchase an Owner Occupied Home can do so!
Maximum … (3 comments)

203k: First Time Homebuyers! Get Your $8000 Piece of the Bailout! - 03/03/09 10:10 AM
There is a silver lining to all of this Bailout Business (thank goodness!) and it applies all First Time Homebuyers!  In the recent stimulus package, Congress, and President Obama wrote in a $8000 Tax Credit for First Time Homebuyer's who purchase a home between January 1, 2009 and December 1, 2009 (that's right, the actual law says DECEMBER ONE, so you need to close by November 30, 2009!)
The actual Credit is $8,000 or 10% of the purchase price, whichever is less.  It is a CREDIT.  This is much different than a Tax Deduction.  If your total tax liability came to $6,000, but you … (22 comments)

203k: Fran's Story - Another ActiveRain Success! - 01/05/09 11:07 AM
My tweets for the last few weeks read:
"Still Working on 203K loan..."
Well, it's closed, and I want to share the story behind those brief, cryptic tweets:
Here's Fran's Story:
In October, I received a call from a woman working at a local diner.  She moved to North Carolina in July - having worked for 14 years as a waitress in Northern Virginia.  Fran makes a base pay of $6.55 an hour, and tips.  She is in her mid 50's, and wanted to purchase her first home.
It was her D-R-E-A-M.
She suffered through a bad marriage, finally got out, raised her … (1 comments)

203k: Financing Options For Purchasing Foreclosure Property - 11/06/08 11:32 AM

THIS IS AN UPDATED POST... See $100 Downpayment Change!!!
There are tons of people who know that we are at or near the bottom of the real estate market, and they are ready to purchase a home.  Many of the folks we are talking to are looking at foreclosed property, because they believe they can get the best deals. 
There are some special points you should remember:
Many Banks will not finance manufactured housing.  We have Investors that do - however, there are restrictions.  If you are considering a mobile home, foreclosure, please tell your mortgage lender about the … (10 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

Cell Phone: (919) 649-5057

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