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: 1,026 About Kelly: Recently featured on HGTV's Beachfront Bargain Hunt episode on Kill Devil Hills and Nags Head! My f...
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From Corolla to Hatteras, we specialize in buyers and sellers looking for their perfect beach home on the beautiful Outer Banks of North Carolina. Whether it's a primary, second home or investment property our team will diligently work to provide you with the information you require for your purchase. We welcome you to read our reviews and give us a call.
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""It is our immense pleasure to recommend Kelly Dean as a real estate agent for any individual or family searching for the ideal home for their unique situation. We spent two years with Kelly (2018-2019)searching for a new home. She was always so patient and responsive to our needs. Kelly knew exactly what we were looking for, she did not waste our time with homes that were out of our price range or not in line with our needs. She is highly talented technologically and made excellent use of the relevant search engines and real estate databases to quickly find us a variety of homes for sale. In addition, Kelly is a highly attentive agent, almost as if we were her only customer. She treated us as a member of her family. She returned all phone calls and emails the same day. We never felt neglected or unimportant. She is also highly affable with an engaging personality. Most important to us, Kelly was honest. She would steer us away from properties that she knew may cause problems in the future. Kelly let us know when our expectations were out of line with reality. We are pleased to recommend Kelly Dean to anyone looking to buy or sell a home. She is hands down the best in the business and in our opinion, if we ever need to move again she will be our first choice, as well as my children's first choice. An outstanding, customer-first, real estate agent."