Why are you renting?
In the current OBX Home Market, it boggles my mind why
consumers are paying rent when they could buy their own piece of the OBX market
and build equity. I think for lack of a
better reason, the consumers lack the knowledge of available mortgage products
and programs. Most buyers say, “I don’t
have the down payment…”My credit is not that good…or the ever popular…”I can’t
afford to buy a home”. Honestly you
can’t afford not to buy a home. Home ownership
opens so many doors for the consumer. Builds
your credit profile, provides equity for the future. Why put money in someone else’s
pocket when you can keep more in your pocket. So do you still feel that you can’t afford to
buy a home? Let me now break it down for
you. If you think that you need 20% down to buy a home, you are wrong. There are so many loan products out there,
buying has never been easier . My
current personal favorite product out there right now that many consumers
don’t’ know enough about. USDA. This program offers 100% financing for
primary occupants, you will need 24 months of stable verifiable income, a minimum
660 credit score, and your income in North Carolina cannot exceed $83,000 per
year. If you are one of the lucky buyers
that do have some money put away, there is FHA, with a down payment of 3 ½
percent. A minimum credit score of 580
is needed to obtain FHA financing. The
income levels are more relaxed as well as some of the other guidelines. The veteran has special financing as
well. VA mortgages are becoming more
popular, and done more and more, again still only for primary residences,
minimum 620 credit score active duty or retired military or honorably
discharged, and many other lending guidelines that need to be discussed with
your lending specialist. Your Buy the Beach Realtor would be happy to find a local lender that will meet your needs. Call us today!
Author:Kelly Dean Phone: 252-207-3655 Dated: October 9th 2013 Views: 842 About Kelly: Recently featured on HGTV's Beachfront Bargain Hunt in Kill Devil Hills and Nags Head. Whether you ...
We are a new company on the beach, but bring over 20 years of experience and knowledge to you. Specializing in first time home buyers, second homes, investment and vacation properties we can find the perfect Outer Banks home to fit your needs . From Corolla to Hatteras, we will patiently guide you each step of the way from the first showing, through the closing and every step in between.
THE OUTER BANKS 25th ANNUAL PARADE OF HOMESOctober 5th - 8th, 201
"KELLY DEAN 5/5 I recommend Kelly Dean for anyone needing a realtor in the outer banks area. Kelly is responsive and works hard to meet the needs of her clients. Kelly worked with my family for months trying to locate just the right property for our second home. She went above and beyond to find answers to questions that we had about properties and about the area. She didn't hesitate to provide information about and explore a variety of homes and locations until we found the right fit. Kelly is very skilled when dealing with buyers and sellers and helped make our negotiation process go smoothly. She also helped connect us to important service providers in the area to make our transition as outer banks homeowners so much easier. Kelly Dean is the realtor to choose for the outer banks area."