Eleanor and Steve Thorne's Blog

Mortgage and Lending - Equity Resources, NMLS 60596 - NMLS 60596
Johnston County biased blog dedicated to providing information about FHA, VA mortgages, USDA home loan and conventional mortgage loan information for Smithfield, Clayton, Benson, Wilson Mills, Dunn, and other parts of Johnston County. Highly experienced mortgage loan officers with some of Today's Best priced mortgage loans!
 “Millennials have long been called the next wave of home buyers.” I don’t know why this is “shocking” because the US Housing Market has always relied on First Time Home Buyers coming into the market to help everybody else move up, or downsize. First time home buyers comprised 38 percent of singl...
When you are purchasing a home from a family member – then there are some extra hoops that you have to jump through.  With FHA, the rules on how to buy a house from a family member allow us to loan you up to 96.5%, as long as the borrower has been renting the property (literally paying rent, not ...
MANY First Time Home Buyers in NC are now using the Conventional Fannie Mae Home Ready program to purchase a home.  So many, in fact that for the first time in decades, FHA is no longer commanding a large share of this unique market.  Why is that happening?  In part it is because Conventional Loa...
Many people who are just plain tired of renting a home near ECU are looking for a way to take advantage of the historic low mortgage and they are trying to get the lowest price on a home.  If you don’t have a job yet, that might seem impossible – but the FHA Loan program offers the option of havi...
There are so many people in NC looking for homes right now that have a “side hustle.” They might bee working at Verizon, but during their off time, they are also Lyft Drivers. If they’ve done this for a few years, we might be able to use that additional income.  So the questions we are going to t...
A lot of our clients are looking for a home with a front porch swing, away from all the hustle and bustle they encounter during their daily travels. That’s why the USDA Home Loan Program has been so perfect, because in NC, it doesn’t take much time at all to be smack dab in the middle of some Cou...
We are closing a loan this week for a hard-working young man who wanted to buy a home for his family. He did a ton of Research, and had many great questions.  But, he started with, “Can a DACA Buy A House in NC?”  Which kind of blew us away, because I’d always assumed everyone understood how this...
We often get asked questions about qualifying and what payments need to be included, especially when the person has an Installment Debt that will be paid off that year.  Buying a home, and getting a mortgage is going through one of those periods of time where Agencies (Fannie and Freddie) are now...
There are some new guidelines coming in January for First Time Home Buyers with Student Loan Debt.  In January of 2018 Freddie Mac will begin requiring us to count either your Student Loan payment, OR .5% of the balance, which ever is higher  This is a change from the current guideline that allow...
Veterans who have eligibility for a VA Home Loan need to understand the “essence” of the credit requirements set out by the Veteran’s Department.  The VA Doesn’t make these loans, they simply guarantee that if the lender meets the underwriting guidelines in approving a VA Home Loan, then the Vete...

Steve and Eleanor Thorne

Mortgage Loan Johnston County
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