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Home Buying in 27705 : Real Estate Advice

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  • Local Info4
  • Home Buying10
  • Home Selling2
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Activity 9
Thu Sep 14, 2017
Zeren Li asked:
I'm a PhD student (F1 visa). I wanna buy a condo or a house in Durham. The price would be around 200K and I can down pay 120K. I have been here for over 1 year and still 5 years to…
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Sat Jan 16, 2016
Mosam asked:
Is it possible for me to buy a house?
Would I have to pay extra taxes when buying and selling the property?
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Fri May 31, 2013
answered:
Absolutely. However in most cases lenders require a 2 year history of US generated income. There may be some exceptions granted by portfolio lenders. Below are the guidelines for FHA You can find the guidelines for conventional loans on efanniemae.com then view selling guide, borrower eligibility or call me for more information. Non-Permanent Resident Alien Requirements:
ï‚· Non-permanent resident aliens are non-United States citizens who are permitted to reside in the United States on a temporary basis and are authorized to work in the U. S. by the U. S. Citizenship & Immigration Services.
ï‚· Non-permanent resident aliens must have valid visas or other proof of legal residency. Acceptable visas include but are not limited to E-1, H- 1B, H 2A, H-2B, H-3, L-1, G series and O-1.
ï‚· There are no restrictions for non-permanent resident aliens; they should be underwritten using the same criteria as United States citizens. However, documentation must be provided showing that the borrower is a legal resident with a U.S. source of income history for the most recent two year period and continued expected income for the next three years. Obtaining a work visa can determine that the income is expected to continue.
ï‚· Foreign nationals from Canada and Mexico who are working in the U. S. under the terms of NAFTA should be treated as non-permanent resident aliens when determining their eligibility for mortgage financing. Foreign Nationals who do not meet these criteria are not eligible for financing.
For more information about visas, visit the USCIS website:
http://www.uscis.gov/portal/site/uscis
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Tue Feb 12, 2013
Margaret Moore answered:
Song,
There are many good options in the zip codes you've mentioned. In addition you could increase your options by widening your target area, which would still keep your commute to a minimum. I've lived in the area for 22 years and would be happy to help you in your search.
Magaret Moore
Triangle & Coast Realty
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Wed Jun 20, 2012
Jeff Johnston answered:
Durham has emerged as a delightful and energetic community to citizens who are proud to be Durhamites. With the opening of The Durham Performing Arts Center a few brief years ago, and great work by private investors and the city, Durham has also become a mecca for world-class entertainment venues (Broadway Series, major entertainers weekly at DPAC). Durham is also beyond terrific with its unique array of one-of-a-kind restaurants and entertainment venues.

If you are looking for assistance in finding a perfect home in a great neighborhood, try our patented home search software. It creates a personal preference profile and maps it to the local multiple listing service database. You will then see homes in priority order, based on your profile.

If you are wanting to meet or speak with a great agent, you might try this link to get you started: http://bit.ly/KTXkLo
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Wed May 25, 2011
Jason Watabe answered:
Sharon is right. You should ask for the answer from a loan officer. F-1 visa is a student visa and not designed for people who earn money usually. However, you are earning salary in academia on campus, that must be allowed under the immigration law. If that income is sufficient for the mortgage payment, you should be theoretically eligible for the loan. However, the lenders might have different rules beyond our imagination. Good luck!! ... more
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Wed Jul 22, 2009
Lakj answered:
You might consider some of the newer home neighborhoods in 27705, between Erwin and 15-501 - these include our nhood, Carillon Forest, and Trinity Park. We have many Duke (University and Medical side) families here, as well as UNC people. The nhood is family-friendly and incredibly diverse - tons of trees, good value homes on decent-sized lots. Good luck with your search! ... more
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Fri May 8, 2009
Vivian Olkin answered:
You need to find the source of moisture that is causing the mold. Also need to know the extent of the mold. It may be something simple (doubtful) or an expensive problem to fix. One of the contractors I use is a human mold detector. When he goes into houses, especially old houses, if there is mold he begins coughing immediately. He said that 25 years of being exposed to mold has done it. In this particular case, to eradicate the moisture, he would have had to remove earth around the back of the house, excavate part of the crawl space and then seal it. It was more complicated than I'm describing, but it was also quite expensive.

Is this a house that you love? Do you have other options? Are you working with a Realtor? As a Realtor, if I'm not sure about an issue, I check with my broker-in-charge or my real estate attorney. Make sure you protect yourself.

Durham is great, lots of opportunities there. If this house doesn't work out, there will be others. If you are not working with an agent, please feel free to call me.
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Wed Apr 29, 2009
Kerry Johnson answered:
Hi Donna, not all areas of Durham qualify for USDA programs but your lender should know which areas do. If you are not working with a lender I would be happy to suggest someone. Choosing a lender is one of the first steps toward homeownership, it is critical in helping you determine what you can afford and for prequalifying you so your offer carries more weight with sellers.

Thanks,
Kerry Johnson (336) 504-4999
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