New NC Program Helps Greensboro Area Home Buyers with Down Payments

dwn pmt squareNC home buyers who qualify for government backed loans like FHA, VA and USDA can now likely also qualify for financial help with their down payment.  A new program sponsored by The NC Housing Finance Agency (a self-supporting state agency) provides down payment help up to 3% of the value of the home being purchased.  Have you heard anyone saying lately that they would love to buy a home but they can’t afford the down payment?  This program could be the answer they have been looking for.  This program helps qualified buyers purchase a home using an FHA loan and pay only 0.5% down instead of the normal 3.5% down.  For a $150,000 home, this saves the buyer $4500 in down payment expenses and the program is streamlined to ensure it does not cause delays in closing.

To learn more you can click here to view the NC Housing Finance Agency web site.  I’m also happy to answer questions and put potential home buyers in touch with local home loan professionals approved to use this program.  I can be reached at 336-298-2026 or by using the form below:

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7 Easy Steps to Home Ownership Series: Video 6, Closing

This is the part of the process that ties everything together.  At this point a buyer has mentally moved in already, and this is the last step to wrapping up the purchase of your new home.  There is lots of paperwork to go over, and you real estate agent, closing attorney, and mortgage lender are available to answer any questions or clarify any details.

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7 Easy Steps to Home Ownership Series: Video 5, Underwriting

Quick video with some good information about the types of information a home loan underwriter will need.  Good advice also about what financial moves not to make when you’re trying to buy a home.

Help your home purchase go as smoothly as possible by supplying the underwriter with all requested documentation as soon as possible.

 

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7 Easy Steps to Home Ownership Series: Video 4, Appraisals

If you’re getting a loan when you buy a home, the bank or mortgage company will order an appraisal to make sure the value of the home meets their guidelines. Most of the time this happens without a hitch, but appraisals can create some challenges during a transaction.

A low appraisal or an appraisal that makes the home value dependent on certain repairs can create additional stress before closing. This video briefly explains how appraisals work and some possible solutions when challenges arise.

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