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Home Buying in 27614 : Real Estate Advice

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  • Home Buying6
  • Home Selling2
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Activity 5
Sun Oct 9, 2016
Ginbri0716 asked:
i want a house with 10 sqare feer
0 votes 0 Answers Share Flag
Thu Oct 8, 2015
Victory Property Management answered:
There are a few loans that will wrap in the renovation costs into the purchase price and finance them together. Here are the few that I know of:

Wells Fargo Purchase & Renovate Loan. You will have to check and see if this loan is still available with Wells Fargo. Here is the link: https://www.wellsfargo.com/mortgage/home-improvement-loans

Home Path Renovation Loan: This is only available if you purchase a FannieMae foreclosure. Here is the link to their information: https://www.fanniemae.com/content/fact_sheet/homestyle-renovation-factsheet.pdf

The most common is the FHA or HUD 203(k) just watch the interest rate and mortgage insurance. It can be a killer. http://www.fha.com/fha_article?id=37

There are others that are offered by local banks, but these are the most common.
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Tue Oct 6, 2015
Amelia Robinette answered:
You can go to www.annualcreditreport.com to obtain a free copy of all your credit reports. You will have to pay a fee to get the score, but you'll be able to see if there are any issues or things that you should correct before applying for a mortgage.

Most credit agencies (Equifax, Transunion, Experian) have websites where you can pay to get your score and credit report. Pulling your own credit does not affect your credit score or count as an inquiry against you.

When you apply for a mortgage, it's considered a 'soft' inquiry so that shouldn't cause you any issues either. You can have multiple mortgage lenders pull your credit in a short time period (w/in 30days I think) and it won't hurt your score.

Do you have a down payment? You'll need approximately 5% of the sale price to cover minimum down payment plus closing costs. You may want to look into down payment assistance programs in your state/county/city. A good mortgage lender can help you find the programs that fit your situation. Google Connecticut Frist Time Homebuyer Down Payment Assistance - look for government websites, not advertisements from lenders to get the best starting info.

I've attached a link to some information about the home buying process that you might also find helpful.
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Tue Jan 27, 2015
Sharon Baldwin answered:
It's a great area , I live a few minutes from that location . Not too busy in my opinion . Appreciation in North Raleigh has always been good .
Call me if I can be of help!
Sharon Baldwin
(919) 669-6644
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0 votes 5 answers Share Flag
Mon Aug 26, 2013
Kit Kat answered:
Hi! If you need someone who can handle even a lower credit score on VA, we go down to 600 middle score. Oh FHA down to 580.
0 votes 6 answers Share Flag
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