fha loans raleigh: FHA Loans Raleigh Cary Apex NC
- 06/14/13 12:22 AM
In a nutshell, the main reason people move to Raleigh are; the wonderful economy and employment opportunities, great place to start a business and raise a family, the beautiful landscape, world-class education options and overall quality of life. What was once a mild capitol city mostly made up of government buildings, and College Campuses, is quickly getting a facelift that is continuing to gain national attention! For prospective Raleigh homebuyers the “hot spot locations” continue to be North Raleigh, North Hills / Midtown Area and Downtown Raleigh. First Time Home buyers love the condos and walkability of downtown. Upscale shops and … (0 comments)
fha loans raleigh: When Does FHA PMI Get Cancelled?
- 06/14/13 12:11 AM
FHA has two forms of PMI on each loan. One part if charged upfront, at closing, and it is generally added to the loan amount. There’s no way for that FHA PMI to refunded or “cancelled.” It’s just there. The second part of FHA PMI is what is paid on a monthly basis. There are some opportunities for the FHA PMI paid on a monthly basis to be “cancelled.” But answering the question of ”When Does FHA PMI Get Cancelled?” is NOT a “one size fits all answer” – because FHA’s changed what it does with regards to this at least a … (1 comments)
fha loans raleigh: Good Neighbor Next Door FHA Program in NC
- 04/24/13 02:40 AM
In NC you can use the Good Neighbor FHA Program to purchase a FHA Foreclosed home at 50% of the list price! Sound too good to be true? Well, there are (as of today) 9 homes that qualify for this program in NC - and more come on the market all of the time! Where are the Homes located?
Homes that qualify for the Good Neighbor Next Door Program in NC are primarily located in “targeted” areas that need revitalization – so the program is not usually available for all HUD homes in your County. It’s offered for the homes … (0 comments)
fha loans raleigh: FHA Making More Changes 1/2010
- 01/20/10 12:08 AM
The Federal Housing Administration is currently insuring more than 3 of every 10 loans originated... and they see that as a risky proposition! Because of that, FHA is expected to announce changes today, in an effort to protect the American Taxpayer (who backs the default insurance on this program!)! Expected changes include: Raising the Upfront Mortgage Insurance Premium (UMIP) from the current 1.75% to 2.25%. This means that when you borrow $100,000 on a FHA mortgage loan, and additional $2250 will be added to the mortgage that you pay back... so your $100,000 mortgage just turned into $102,250. If you move, … (5 comments)
fha loans raleigh: FHA Loan Limits Change in NC 2/24/2009
- 02/26/09 12:36 AM
FHA increased the loan limits in 2008, and then lowered them January 1, 2009 and THEN raised them back UP on February 24, 2009! WOW! So, if you are considering a purchase in NC, you might want to check out the NEW FHA Loan Limit for the County you are interested in! Wake County/ Johnston County Limit $295,000 Durham County/Orange County Limit $334,650 New Hanover County/ Brunswick County / Pender County $303,750 Onslow County $306,250 Guilford County /Forsyth County $271,050 Mecklenburg County/Union County/ Cabarrus County $303,750 Iredell County $271,050 Buncombe County $303,750 FHA loans do not have a limit on the amount of income your … (6 comments)
fha loans raleigh: Should You Take The $12,000 Financing Package Builder Pushes???
- 09/09/08 02:24 AM
It's easy to be mesmerized by the ads. Your mortgage rate will be 3.5% the first year, 4.5% the second year and then FIXED at 5.5% for the rest of the time you own your home! You get a HUGE Tax advantage because you can write all of that upfront interest off! Beautiful New Home! Just $12,000 more... Let me ask you somethin', that community is not finished. In fact, the builder's rep told you that since this is the first phase, they've decided that once they sell the next 18 homes and move into the NEXT phase... they are going … (4 comments)
fha loans raleigh: Pay Off Credit Card Debt Now...
- 09/05/08 03:48 AM
Have you looked at the balances on your credit card statements lately? Seriously? OMG! Everybody I know has been "living" off of credit cards! How expensive is that? Well - If you have a $2000 balance on a credit card with an 18% APR it could take you 24 YEARS to pay it off if you simply pay the minimum balance! If you've purchased a home in the Triangle during the last 24 months - and the value is less than $300,000 - you might qualify for a cash out FHA loan. We are refinancing a single mom today who purchased a … (6 comments)
fha loans raleigh: NAHB Looking For Grassroots Effort
- 06/17/08 01:36 AM
The National Association of Homebuilders believes we need an Emergency Stimulus Bill... afterall, housing starts are at the lowest since 1991 (and as Tanta notes "completions followed starts off the cliff...). The package, according to NAHB needs to include a "temporary tax credit for HomeBuyers," and, in thier Online Newsletter, they urge all members to contact their Representatives as part of a ground swell grassroots efforts. Apparently CTX has already sent 6000 letters! "At the top of the list of provisions that are needed, he said, is a temporary home buyer tax credit to stimulate home buying and reduce excess inventory. To maximize … (3 comments)
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