usda loans: USDA Home Loan To Only One Spouse in Johnston County NC - 04/10/14 06:14 AM
We get questions quite often on this site, and we try to answer them as quickly as possible.  Some of them really need a “whole page” for us to answer, and this is one we’ve seen quite often.  Married Couples who want to buy a house, but… they want to buy but one has bad credit.  They want to buy a house in Raleigh, but – they might be over the USDA Home Loan income limit if one of they takes a new job.  So we thought we would answer the question we recently had about “USDA Home Loan to Only … (1 comments)

usda loans: USDA Loan Eligibility Map for Burlington and Mebane NC - 01/29/14 03:37 AM
January 27, 2014 by Eleanor Thorne Leave a Comment 

The USDA Home Loan NC Program has been fixin’ to get ready to change the USDA Loan Eligibility Map in our state for two years.  The potential changes to the USDA Loan Eligibility Map for Burlington and Mebane NC have currently been delayed until the end of September 2014.  Why is this such a big deal?  Because USDA Home Loans are no down payment required, low closing cost loans available to anyone who is willing to live in a more “rural” NC setting.
The Three Items Needed To Qualify for USDA … (4 comments)

usda loans: USDA Home Loan Map Changes Released - 05/07/13 12:44 AM
We’ve known for a while that unless Congress votes otherwise – the USDA Home Loan footprint across the country is changing.  This is a pretty major issue, because USDA Home Loans are only available to folks who are purchasing a home within the USDA “Footprint.”  These are one hundred percent, no money down mortgage loans, that are CHEAP when compared to FHA (and the sky high FHA PMI rates right now).  Effective October 1, 2013 the maps are set to change, and the USDA Home Loan Footprint in NC is getting smaller.
Today was the first time we noticed an area … (0 comments)

usda loans: Land Value versus Home Value - 11/27/12 06:11 AM

With all of the “deals” we are hearing about these days, I guess it’s not surprising that people are finding homes with large tracts of land associated with them.  In general, the ratio of “land value” versus “home value” needs to be less than 30%.  This goes for FHA loans, VA loans – Conventional loans, USDA Loans… underwriters are going to look at the appraisal, and if the land is worth more than 1/3 of the total sales price, it won’t work for our Bank.
The Bank takes the position that if the total Sales price is $100,000 and the … (0 comments)

usda loans: Like USDA Home Loan Program? Call Congress - 08/28/12 03:46 AM
We just received this update – The Senate passed the USDA Bill, the House needs to include Grandfather language in order for the Maps to remain in place through next May.
Most loan officers are not familiar with the USDA Loan Program – which is a shame, because it’s one of the best No Money Down Home Loans available in NC!
We get “Rural” really fast in NC… one minute you’re in a neighborhood – the next you can wake up to the sound of Roosters!
If you’re interested in living in a home with a larger lot – and a … (3 comments)

usda loans: Options for No Money Down Home Loans in North Carolina - 07/19/12 08:48 PM
Most people who think about No Money Down Home Loans - think of USDA Home Loans.  It's a great program, and because of the demand... it's getting back logged in NC.  Great News!  There are OTHER options if you are looking for a mortgage that doesn't require ten's of thousands of dollars in down payment!  They don't require that you live in a certain area (like USDA No Money Down Home Loans do) and there are no Maximum Income Requirements for most of these programs either!
FHA No Money Down Home Loans:

usda loans: Qualifying for USDA Home Loans in North Carolina - 09/09/08 08:01 AM
I wish I had a nickle for everytime I'd heard somebody tell me, "I'm just lookin' for some land."  They don't really mean they want a horse farm (necessarily) but they do want some room to stretch out!
Well - good news! USDA has a 100% program for those looking for a home in a rural setting. It does NOT need to be a farm - in fact if it's an income producing farm, I'll probably have to refer you to someone who knows a lot more about Commercial loans than I do... no a USDA loan is for folks who … (28 comments)

Eleanor Thorne, Equity Resources  919-649-5058 (Equity Resources) Ambassador large

Eleanor Thorne

Equity Resources 919-649-5058

Cary, NC

More about me…

Equity Resources

Address: 201 Shannon Oaks Circle, Suite 204, Cary, NC, 27511

Office: (919) 649-5058

Mobile: (919) 649-5057

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