Are you looking for the new first time home buyer tax credit? I've got good news for you! It exists and it's called the Mortgage Credit Certificate (MCC). Most every state has some form of the Mortgage Credit Certificate. Here are the details of how the program works in North Carolina. The Mortgage Credit Certificate gives qualifying first time home buyers a financial benefit when filing … [Read more...]
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Mortgage Credit Certificate For First Time Buyers
Filed Under: Buying a Home Tagged With: first time buyer, mortgage, tax credit
FHA To Increase MIP Rates For Second Time In Six Months
FHA has announced that it will increase the annual Mortgage Insurance Premium (MIP) for the second time in six months. The last increase was in Oct of 2010 and resulted in a $58 monthly increase in the payment amount on a $200,000 loan amount. In October the up front portion of MIP decreased by about $2,500 for the same $200,000 mortgage. No decrease in up front premium this time … [Read more...]
Filed Under: Buying a Home Tagged With: mortgage
Rising Interest Rates Make Homes Cost More
Rising interest rates could be the wild card that spoils your chance to get a good deal on your next home purchase. Getting the absolute lowest price on a new home is important, but getting a low payment and total interest paid should be considered as well. I've heard a few potential home buyers say they are waiting for the market to hit bottom. Although that sounds like a noble cause, in … [Read more...]
Filed Under: Buying a Home Tagged With: mortgage
What Are Property Taxes In Raleigh, North Carolina?
Property taxes in Raleigh, North Carolina have been a popular topic lately. Most homes are selling below property tax value right now. This is because the assessed tax value was recalculated in 2007 (for the 2008 re-assessment) and the market here had still not begun to decline. We reassess every 8 years so the current tax value was set at a time of peak home prices. Over the past 3 years … [Read more...]
Filed Under: Buying a Home Tagged With: property tax
6 Steps To Buying A House
So what are the steps to buying a house? There are lots of moving parts. It can be one of the most exciting times in your life. Unfortunately it can quickly turn into a nightmare if things go wrong and you don't know what to do. It's a very important decision and you want to get it right. There are logical steps to buying a house that should be followed if you want to have a good … [Read more...]
Filed Under: Buying a Home Tagged With: buyer agent, home search, negotiating, offers
What Are Closing Costs For A Home Purchase?
What are closing costs when buying a home? Well, there are the usual hard closing costs that everyone sees on their settlement statement. And there are the soft closing costs that can add up to just as much, if not more. But today we will answer the question, "what are closing costs when buying a home" from the perspective of … [Read more...]
Filed Under: Buying a Home Tagged With: closing costs
Do I Need A Buyer Agent?
Do you need a buyer agent? I think most people who have purchased a home in the past would suggest that you do need a buyer agent. But let's take a look at several things that you will encounter on your home buying journey and then you can make up your own mind. … [Read more...]
Filed Under: Buying a Home Tagged With: buyer agent, negotiating, real estate contract
North Carolina Still Attracting Relocating Families
Relocating to North Carolina is still as popular a pastime as ever. A recent study by United Van Lines lists North Carolina as one of the top states for relocating individuals and families. United has tracked the migration patterns of its customers since 1977. They use a metric of 55% or more of the moves for a state being the trigger for determining how that state ranks regarding … [Read more...]
Filed Under: Buying a Home Tagged With: relocation
Five Reasons The New NC Real Estate Contract Will Benefit Buyers
There are lots of changes in the NC real estate contract for 2011. Big changes. At first glance it may seem that these changes put more burden on home buyers. However, if we dig a little deeper we begin to see how these changes can actually benefit buyers. Better Chance of Loan Approval This is huge! Last minute loan approval issues is the number one reason for stressful and costly … [Read more...]
Filed Under: Buying a Home Tagged With: buyer agent, real estate contract
NC Real Estate Contract Has Big Changes For 2011
The NC real estate contract has changed dramatically for 2011. The new North Carolina real estate contract, called the Offer To Purchase And Contract, will require a totally different approach to the home buying process. Let's take a look at the major changes to the NC real estate contract. Due Diligence Period: The biggest change to the NC real estate contract is the addition of a due … [Read more...]
Filed Under: Buying a Home, Selling a Home Tagged With: real estate contract
