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winterville nc: Snowing In Eastern North Carolina - 01/20/09 03:07 PM
It doesn’t snow often in Eastern North Carolina. Today is one of those exceptional days. . I can’t remember exactly when it last snowed, but it seems at couple of winters ago.
 
When it snows here, it becomes almost like a holiday. We are not really adept in navigating around. So we tend to just stay home.
 
It hasn’t always been this way for me. I lived in Oklahoma for 12 years and saw plenty of snow. I can even remember one year there, I did not see the pavement on my street for six weeks. You could not … (6 comments)

winterville nc: FHA 203(K)….OK….What Improvements Are Required? - 01/10/09 07:55 AM
 Your have located the fixer-upper that you want to buy or you are preparing to repair/rehabilitate your existing home. You are now preparing your feasibility analysis for the repairs and rehabilitation with your real estate professionals.
 
 HUD has required improvements that must be included to be eligible for FHA 203(k) financing. What are these required improvements you ask? Here is a list:
 
FHA 203(k) required improvements:
Weather strip all doors and windows if existing weather-stripping is inadequate Caulk or seal all openings. Cracks, or joints in the building to reduce air infiltration Insulate all openings in exterior walls where … (7 comments)

winterville nc: You Want To Buy A Fixer-Upper…OK…203(k) - 01/03/09 11:08 AM
You are interested in a property that needs a little work. Well, maybe it needs a lot of work. What do you do?
 
Unless you have the wherewithal to purchase the property “as is” and pay for the “fix up” from your own money, you may want to consider the FHA 203(k) loan.
 
FHA offers two variations of the 203(k) program; the traditional and streamline. Both are designed to assist with the repair/rehabilitation of an owner occupied property. Both have a minimum repair limit of $5,000.00.
 
The FHA 203(k) Streamline provides for a maximum repair allowance of $35,000.00. … (5 comments)

winterville nc: FHA Minimum Investment Requirements Changing January 1 - 11/13/08 08:09 AM
Beginning January 1, 2009 the minimum investment requirement for an FHA mortgage will change. Currently a borrower is required to have a 3.0% minimum cash investment. At least 2.25% of this amount must go toward down payment. The remaining 0.75% could go towards closing cost. As of the first of the year the minimum cash investment will increase to 3.5% all of which must go toward down payment.
 
What does this mean?
 
Take for example an FHA buyer is purchasing a home for $150,000. Under the "old rules" the minimum cash investment required would be $4,500.00. Of this … (0 comments)

 

Jay Williams, Mortgage Loan Officer Getting You The Right Loan

Greenville, NC

More about me…

Greenville, NC

Address: 218 E. Arlington Blvd, Greenville, NC, 27858

Office Phone: (252) 493-4802

Cell Phone: (910) 527-1809

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