Apparently they did a computer system upgrade over the weekend, and they can access the system to send out approvals... this will cause more delays.
You don't have to be a First Time Home Buyer to use the USDA Home Loan Program - however, many of the home buyers we see using the program are just that.
Down Payment is often considered the biggest factor in keeping Millennials out of the home buying market, and that's one reason USDA Loans are so popular!
Read more: http://www.businessinsider.com/afp-economy-markets-test-patience-of-fed-chief-yellen-2015-5#ixzz3ZqVbhOVM
Canadians sell-up in Florida
House price increases in Florida and the weak Canadian dollar mean that ‘snowbird’ owners from north of the border are cashing in their investments. Those who bought when prices were in a slump and the greenback was weaker are viewing now as the ideal time to sell. Simon Plump, head of Currencies Direct exchange told the Orlando Sentinel that he is seeing a “big shift” in Canadians selling their vacation homes and realtors in the area are reporting a similar trend.
"From *American Mortgage Conference in Raleigh, North Carolina last week* and this source doesn’t mince words. This source takes the highly contested position that credit is too tight.
Peel back the usual layers of rah-rah-go housing optimism, and there was one big takeaway if you read between the lines, the source says:
“The system is sick.”
The source quotes Federal Housing Administration principal deputy assistant secretary Ed Golding, who told conference goers that an estimated 1.2 million borrowers are "missing" from the market, many of whom are black, young, or have imperfect credit.
So in this climate who is getting loans? Well, people like the folks at the conference talking about all this.
"The well-heeled wealthy borrower has all the options in the world," Golding said. Meanwhile, prices are getting further out of reach."
111 Corning Rd, Suite 230 Cary, NC 27518
I work in the Mortgage Lending business with my husband, +Stephen L Thorne. We were named one of the Top Origination Teams in the State (by the NC Association of Mortgage Professionals, and Mortgage Originator Magazine.
As entrepreneurs, one of our mortgage companies received the coveted Triangle Fast 50 Awards by The Triangle Business Journal three years in a row!.
As a Mortgage Origination Team, we specialize in FHA Mortgage Loans, Veteran Home Loans, and we probably do more USDA Home Loans than anyone else in the State of NC. In addition to this, we offer the Best Mortgage Interest Rates for all programs, including Conventional/Jumbo mortgages.
We have over 20 years of experience as Mortgage Loan Professionals in Cary, NC and enjoy working with First Time Homebuyers, as well as folks who are Refinancing!
We recently finished Dave Ramsey's Financial Peace University, and love sharing his principals of soundly building wealth with our mortgage customers!
I am a Boomer - and I've spent over 6 years learning the "language" of Social Media, Websites and SEO. Because of that - I teach many fellow Boomers the language - and I work with Real Estate Agents to gain better exposure for their Real Estate Practice!
- NC Mortgage ExpertsBusiness Development Officer, presentNC Mortgage Experts with TONS of experience helping first time home buyers in NC buy their Dream Home! You will find more information on our site, www.ncfhaexpert.com; or you can connect with us here, on Facebook or Twitter. I work with my husband, Steve Thorne, Mortgage Loan Originator #60596
- National Mortgage AccessOwner
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