USDA Changes Guarantee Fee

USDA Rural Housing loans are seeing a change to the Guarantee Fee!  Starting October 1st, the upfront fee will reduced from 3.5% to only 2%.  This sounds really good but they are also adding an annual fee of .30%.  Let’s take a look at how this works out over time. Read more »

USDA Rural Housing Loans Delayed

We have been advised by USDA officials that effective 10/1/2011, USDA will not issue final approvals for loans to close.  They have funds to last through the end of the month so any loans that received “conditional commitments” from a local USDA by 9/30/2011 should be fine. Read more »

Getting Approved for a Mortgage in Charlotte NC

Are you trying to get approved for a mortgage loan?  Not as easy as it used to be, is it?  There is good news and bad news about the ever changing mortgage world… First the bad news!  It is definitely more difficult to obtain approval for a residential mortgage loan today.  Every lender is different, […] Read more »

Existing Home Sales Jump 7.7%

Existing home sales beat expectations in August and reached the best levels since March.  Buyers have been drawn into the market by lower prices and exceptionally low interest rates.  Sales increased 7.7% month over month to an annual rate of 5.03 million homes, according to NAR (National Association of Realtors).  NAR also commented that rising […] Read more »

Can You Buy Before Selling Your Home?

can you buy before selling your home

A lot of people want to buy a new home in today’s market to take advantage of these crazy low prices and interest rates.  The problem is selling the home they already own.  For some, this totally blocks them because they can’t afford to buy a new home without selling, but some owners believe they […] Read more »