Mortgage News in the Carolinas
Archive Posts
NASCAR Hall of Fame!
0817 days
by Geoff Brown
in Archive Posts
It’s been said that one thing that the city of Charlotte has been lacking was a real tourism magnet. I believe this all changes on May 11th, 2010 when the 150,000 square foot NASCAR Hall of Fame opens !
They have started running commercials. Take a look at the 30 second commercial!
It’s terrific news for Charlotte as it will have a large economic impact on our area from increased convention bookings to new jobs supporting the operations of the facility and marketing for NASCAR. Feel free to check out the website for activities !
IMPORTANT !!!
0820 days
by Geoff Brown
in Archive Posts
There are several important deadlines coming up that you may want to be
aware of in the next couple months. I actually spoke with 2 clients this week that were absolutely ecstatic to learn that they qualify for the $6,500 Move-up tax credit. Knowledge is Power and could save or earn you MONEY !
ISSUE: ALL TRANSACTIONS– $8,000 First Time-Home Buyer and 6,500 MOVE-UP CREDIT EXPIRES. DEADLINE: APRIL 30TH, 2010 TO GO UNDER CONTRACT and CLOSE BY JUNE 30th, 2010.
SOLUTION: Buyer identifies a property and goes Under Contract by April 30th
Please let New American Mortgage know the property address so we can order the case number and protect you. I am here to help in any way possible. Please call me with any questions.
New Charlotte Runway is great news for the area!
0825 days
by Geoff Brown
in Archive Posts
A new 4th runway at Charlotte Douglas International Airport became fully operational last week! It took 3 years to build but now up to 3 planes can land at once at the Charlotte International Airport. It will save the airlines money by limiting the number of delays and the 8th largest airport in the USA and a effective international airport could also lead to something much bigger!! MORE JOBS for our area!!! The airport can handle more passengers and will also entice businesses to relocate to our area. The airport has also proposed a 300 million dollar renovation to add an expanded terminal, new parking garage, underground pedestrian tunnel, and an automated baggage system. Our city is continuing to make strides in diversifying the economy and employment base and having a strong international airport will extremely help the Charlotte region as we head into the next decade !
Terrific Loan Program Option
0828 days
by Geoff Brown
in Archive Posts
One terrific product that we offer is the Fannie Mae HomePath program. If you closes by April 30th, 2010, you will receive an automatic 3.5% towards closing costs. We are one of the few lenders that can offer this program and in our current market, we are seeing more and more foreclosure listings show up on their website so this is a terrific loan option. The only catch is to find an eligible property!
Here’s a quick summary of the program:
- Available only for FNMA foreclosure properties that qualify. Search at http://www.homepath.com/
- NO APPRAISAL REQUIRED (YOU SAVE $350-$400 and no underwriting scrutiny!)
- 95% LTV for Owner Occupants – No PMI !!!
- 90% LTV for Second Home or Investment property – No PMI !!
- 660 minimum credit score required
- Seller Paid Closing costs up to 6% for Primary Residence and 2% for Investment Property.
- ***Special for owner occupied borrowers between now and April 30th, 2010, Fannie Mae will contribute 3.5% towards closing costs on every sale
- Note: Rennovations CANNOT be financed using this program
The only negative to this program in the past was trying to find a property that was eligible but we are seeing more and more properties eligible as foreclosures continue to make up a larger part of the current inventory of homes. Again, feel free to search at http://www.homepath.com/ and call me to TODAY to make sure you qualify!
