Eleanor Thorne

"Owning Real Estate is Fun!"

I'm a:	Real Estate Professional
Company:	Meridian Residential
Location:	Cary
Web sites:	My Website
Phone:	(919) 459-1313

12 Answers
3 Useful Answers

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About Me

Why Am I So Upbeat??

I am the daughter of a Mortgage Banker and a Realtor. I literally started my Mortgage Career at the age of 15, working a summer job for a PMI company! I thrive on change, and analyzing how trendsetters are capitalizing on change! Yes - we are in a "different" kind of real estate market, however, THERE'S MONEY TO BE MADE IN REAL ESTATE TODAY!

I enjoy working with buyers, sellers, realtors and builders who recognize this. I've been a partner/owner of several award winning mortgage companies, and share this "business owner" experience in mentoring and challenging top performers to be even better. It's not possible for one person to be the expert on every angle in business, but it is possible to surround yourself with people who are constantly looking for the "silver lining" and who are INVOLVED in the business. I bring upbeat, fresh ideas and energy to problem solving situations in this market. A very wise investor told me that, "if everybody is going right... the real deals are still over there on the left." Well Real Estate is no longer the "darling" of the Investment TV shows, but there's a ton of people out here making money in Real Estate! I look for trends, I collect new strategies, and I share this information with an open heart through networking, blogs, newsletters, seminars and as a featured speaker.

I love, the "Triangle" (traditionally referred to as the Raleigh, Durham and Chapel Hill), and I've seen tons of changes with the growth of Cary since my family moved here in 1968. I'm lucky to be able to work with my husband, Steve, who is also from this area ( his family already lived Cary when I got here and Kildaire Farm WAS a Farm... not just a road!) Steve and I have two brilliant children, a dog and a horse and a tank full of fish. We are involved in our church (first United Methodist in downtown Cary), the local Chambers, the Business Alliance at the Schools, and the YMCA. If you're new to the area and want to know how to get involved, we are GLAD to share our insight!

Areas of Expertise

Our daughter calls it "speaking the mortgage." She's heard us speaking to clients and talking about client needs all of her life. We see ourselves a little differently than most loan officers. We could say we are FHA, NC Housing, VA, USDA, JUMBO - Experts... and we'd be right. I'm a DE underwriter - I KNOW what a FHA loan looks like. But what we are REALLY experts at is helping someone find the BEST solution for their situation - and creating a realtionship that makes them want to continue to refer everyone they know to us!

Our MeMe (five things you might not know about us!)

We started NationalMortgage Access in late 1998, and grew into a mortgage banking company in two states. We were awarded The Triangle Business Journal Fast 50 award in 2002, 2003 and 2004. We sold that company in December of 2006.

Mortgage Originator Magazine Top 200 Originators in the Country

NC Association of Mortgage Professionals Sirius Award

Alumni of Mortgage Bankers of America Future Leaders Program

High School Sweethearts

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Eleanor Thor…'s Questions (0)

Eleanor Thor…'s Answers (12)

What's better- 2 year ARM or fixed?

Asked Tue Sep 30 2008, 08:39 by Clifton Davis - Cary - Home Buying - 5 answers

Eleanor Thorne answered:

Clifton - they are probably suggesting that you apply for a State Employee's Credit Union loan. Are you eligable for SECU financing? (I'm from this area) SECU loans are great - they have no mortgage insurance, and usually have strong rates. We do not offer them, but like I said, I've been in lending, in this area for 20 years.

Most of the first time homebuyers we are talking to are shying away from adjustable financing for all of the reasons you stated... and truly 65% or more of our business is Government Financing. You might want to get more information here: http://ncfhaexpert.com/?tag=first-time-homebuyers

Good Luck! If you want to call - or meet with us - we'll be glad to go over the differences in your options. - Tue Sep 30 2008, 11:25

I'm looking into Cary and Raleigh as a potential place to relocate the family to.

Asked Sun Sep 28 2008, 10:01 by Johnny - Cary - Home Buying - 7 answers

Eleanor Thorne answered:

Cool Beans! I"ve lived in Cary since 1969 - and there are tons of properties in this price range near great schools... like where I live in MacArthur Park (Davis Drive Elementary, Davis Drive Middle and Greenhope High) - but as I said, there are many others.

If you have questions about the area, or need help with financing, please let me know! - Tue Sep 30 2008, 11:21

What's better- 2 year ARM or fixed?

Asked Tue Sep 30 2008, 08:37 by Clifton Davis - Cary - Home Buying - 5 answers

Eleanor Thorne answered:

Clifton - someone is probably suggesting a State Employees Credit Union loan. If that's the case - they are usually very competitive, and do not have any type of mortgage insurance. Are you eligable for SECU financing?

Many of the people we talk to are "shying away" from adjustable financing. In fact, most of the first time homebuyers we meet are applying for FHA or USDA (unless they are veterans). For more information, you might read this: http://ncfhaexpert.com/?tag=first-time-homebuyers - Tue Sep 30 2008, 11:17

I'm building a home which will be done in about 45 days. Should I lock in my interest rate? It's at 6% in NC

Asked Wed Sep 24 2008, 16:38 by J - Raleigh - Financing - 5 answers

Eleanor Thorne answered:

If you are working with the Builder's mortgage company - my suggestion is that you get an additional quote. The builder mortgage company is ALWAYS going to be higher than the "Street" rate - because it's a controlled business arrangement and there are additional costs involved. Having said that, the builder is likely paying some of the closing costs - and they might only do this if you are using their lender. We recently saw a deal where the builder was charging $12,000 more for the house if you used their mortgage company offering a 3-2-1 buydown. Check with the lender, an get your middle credit score - with that number, the best advice I can give you is to shop it - then lock it. There's a chance the govenrment will come up with a brilliant plan this weekend that will help the bond market - but watching Bill Gross (PIMCO - one of the largest purchasers of Mortgage Backed Securities - the place where Greenspan works) this morning, he looked nervous. If he's nervous - frankly I'm nervous. Just my opinion... - Thu Sep 25 2008, 09:06

Can someone with excellent rental payment history, but poor credit (low 500's), be able to obtain a home loan?

Asked Tue Sep 16 2008, 12:17 by Clifton Davis - Cary - Home Buying - 9 answers

Eleanor Thorne answered:

Clifton, there are programs available for no money down loans. The best programs, if you are not a veteran are USDA and you might also want to consider a NC Housing Finance Agency loan that can be combined with a second mortgage from the City of Raleigh. Both of these programs, however, require higher scores than you believe you have. But don't let that stop you!

I realize that you don't have much money - however, you should see if there are ways to pay the bills that are reporting to the credit bureau on time for 12 months. Usually, judgements that are not medical related will need to be paid, but that's something we'll know when we actually look at your credit. This 12 month history of on time credit should pull your scores up high enough for mortgage financing. Also, since I have a son in college, are you applying for Pell Grants? Maybe this will help take some of the pressure off of the family budget!

We offer free advice on a website we designed specifically for folks in your situation! Homeownership offers MANY benefits, and it is definately something you should work towards. The Tax Deductions are WONDERFUL! - Tue Sep 16 2008, 13:16

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