Archive for the ‘Charlotte Area Info’ Category

Charlotte Homes for Sale

Charlotte has such a diverse housing market. Take for example the homes featured right here at EdNailor.com. These Charlotte homes for sale range from 89,000 to over $1 million! That’s right… there is a home for everyone in Charlotte!

Charlotte has such a diversity about it, from cultures to employment opportunities. And what is so cool about the area is that everything tends to get mixed together! While there are some areas in Charlotte that are more exclusive than others, most of the Charlotte area supports the diversity.

If you are looking to move to Charlotte, you really should look at the homes for sale in Charlotte, NC as featured here. Not only can you find the right home, you can find the right mortgage and the right Realtor to assist.

Let the Carolina Mortgage Connection help you find and finance your Charlotte dream home.

Apply online or call 877-411-9327 for more info.

$100 Down for Charlotte FHA

Mortgage Loans up to $230,740

With the new Economic Stimulus Package and the FHA / HUD Repo Incentive Program, you can now buy a Charlotte home and get a Charlotte FHA mortgage loan up to $230,740 with only $100 down! This is a great program for Charlotte area home buyers!

The Economic Stimulus Package raised the FHA loan limits in Charlotte to $230,740. The FHA / HUD Repo Incentive Program allows home buyers to purchase HUD foreclosed homes with only $100 down and still get a FHA mortgage loan to boot! Under normal circumstances, FHA mortgages require 3% down. With the new FHA loan limits for Charlotte, this means to buy the maximum home with FHA, you would need to put down at least $6,858. to cover the 3% and still maximize the $230,470 loan limit.

But if you choose to buy a Charlotte HUD foreclosed home, you can now buy a home with just $100 down and still get the new Charlotte FHA loan limits!

What a great opportunity!

Let us get you pre-approved for a FHA mortgage today! Then go find your dream home in Charlotte!

To get pre-qualified for a Charlotte FHA mortgage,
call 877-411-9327 or Apply Online Now.

Charlotte FHA Limits

$230,470 is Charlotte’s FHA Mortgage Limit

Yesterday, President Bush authorized the Economic Stimulus Package. In addition to the checks going out to the American public, this package permitted Jumbo loan limits for some areas of the country to be increased temporarily. Since Charlotte’s increase did not surpass the standard loan limits for jumbo loans, we did not gain any increase in the jumbo market. However, the FHA loan limits did increase for the Charlotte-Gastonia-Concord, NC-SC MSA!

Charlotte Areas with New FHA Limits 

This means that properties for sale in Mecklenburg county, Union county, Cabarras county, Gaston county, Anson county and York county now qualify for FHA mortgage loan limits up to $230,470. With the minimum 3% downpayment requirement by FHA, that means a Charlotte home currently for sale for $237,597 can be financed with FHA loan parameters with only 3% down. And until the end of March, we still have access to down payment assistance for Charlotte FHA loans, so you could end up with a new home with no money down!

This opens up a new window of opportunity for Charlotte home buyers that should be considered. FHA mortgage loans are not credit score driven and in many cases the low FHA mortgage insurance can save a home buyer a lot of money! And with great Charlotte FHA mortgage rates, today’s home buyer really needs to look into getting pre-approved for a Charlotte FHA mortgage!

To get pre-qualified for a Charlotte FHA mortgage,
call 877-411-9327 or Apply Online Now.

Misleading News Headlines

I have written about the misleading nature of the current news media for some time now. The news media today is no longer worried about providing real news. They are more worried about eye catching headlines and the ability to keep you around long enough to sell more advertising.

Case in point… Fox News at 10am in Charlotte NC, last night. Now I really don’t watch a lot of news as I consider a lot of it to be misleading and unreliable. But as I was doing the dishes, it was background noise. Then the teaser… “Coming up next, find out what pop idol Miley Cryus,  better known as Hannah Montana, was caught doing that makes you wonder if there are any stars your children can look up to!”

Immediately, I wonder… what did she do? There were rumors of pregancy, but I doubted it could be that. Drinking, drugs, partying, sex? What in the world would this young lady that seems to have her head on straight have been caught doing? Maybe at worst she was smoking…

“Welcome back to the News at 10. Pop Star Miley Cirus (Hannah Montana) was caught doing something that makes you wonder about teen idols.” Again… what did she do? This must be something big… they are teasing the hell out of it.. sure sounds big…

She was caught.. are you ready for this? Driving without a seatbelt! OHHHHH NOOOOO! The horror.. the shame! What in the world will we do now? How could our young girls ever look up to such a horrible example???

Or better yet, how in the world can we as intelligent people continue to count on the news media for… well, news?!?!

I share this to emphasize what is going on in the housing and mortgage markets today. Yes, there are issues and yes things need to be addressed. But if you listen to all the talking heads in the news media, the real estate and mortgage markets sound like they have crashed and burned! Why in the world would you consider buying a home in this market???

Simply put, NOW IS THE BEST TIME TO BUY A HOME IN CHARLOTTE NC! The rates on a 30 year mortgage are still around 6% or less for most Charlotte home buyers and there are so many homes for sale in Charlotte! You could not ask for a better time to make your Charlotte home purchase!

What about refinancing? NOW IS THE BEST TIME TO REFINANCE YOUR CHARLOTTE MORTGAGE! If you have a rate over 6.5%, or an adjustable rate mortgage, you really need to get a free mortgage analysis right away! With Charlotte mortgage rates so low, you could save thousands of dollars!

or Call 877-411-9327

Special Contribution Article

Eastover, located southeast of Charlotte’s Center City, formerly two dairy farms, (also formerly Myers Park Eastover), was developed by E. C. Griffith in 1927.  From the days of Earle Sumner Draper, the Southeastern US ‘premier’ urban planner to present day, Eastover has been the home of some of Charlotte’s most elite.  From cotton brokers to bankers to attorneys, the facilitators of Charlotte’s growth have resided in Eastover.  E.C. Griffith sought to create Eastover as a competitor to Myers Park.  Charlotte was headquarters to 770 textile mills, consuming more cotton than any other sector of the world.  In 1927, the piedmont North and South Carolina, officially surpassed New England in cotton cloth production.  Read the rest of this entry »

First Time Home Buyers!

Its time to buy your first home in Charlotte!

Charlotte mortgage rates are low and home selection is high. Government loans such as Charlotte FHA mortgages can make buying your first home in Charlotte easy! And with the new Charlotte FHA HUD Repo Program, you can buy a HUD home with only $100 down! That’s virtually a No Money Down loan for First Time Home Buyers! And you thought that didn’t exist any longer!

We have access to the best mortgage rates and programs for Charlotte First Time Homebuyers. Many of these programs are 100% mortgage loans. With FHA mortgages and VA mortgages, many home buyers in Charlotte can really get into a home with little to no money out of pocket!

If you have been dreaming of buying your first home in Charlotte, now is the time to get qualified. With great mortgage rates and first time home buyer programs still available, you can no longer afford to throw money away on rent. And with the Charlotte real estate market still going strong, you couldn’t ask for a better place to own a home!

First Time Home Buyer Programs in Charlotte, NC

Charlotte Jumbo Mortgages

Loan Limits Rise

Both the Senate and House have passed the economic stimulus plan, which includes an increase in Conforming Mortgage Loan Limits to $625,000 through December 31, 2008. President Bush should sign this bill by early to mid next week and many hope that conforming loan limits will increase immediately. Others assume it will not go into effect until July. Either way, the limits will increase and they do we will let you know.

Unfortunately, FHA Mortgage Reform was eliminated from the bill and there are no permanent FHA loan limit changes. However, since FHA loan limits are a function (or percentage) of conforming loan limits we should see a temporary increase in FHA loan limits.

This is great news for the Charlotte mortgage market! Borrowers with loans between $417,001 and $625,000 could qualify to refinance their jumbo mortgage loans into new mortgages without the jumbo mortgage rate hits! Add that to the best mortgage rates in Charlotte already avalible, and jumbo home owners can really make out!

At the same time, more people buying Charlotte real estate could qualify for low FHA mortgage rates! And with the low mortgage insurance rates offered by FHA, a whole new group of home buyers can enjoy the best Charlotte FHA mortgage loans ever!

If this news affects you, get qualified Now for the better programs coming! Once they are in place, you can be among the first to refinance your Charlotte Jumbo Mortgage Loan or buy your home with the new Charlotte FHA Mortgage Loans!

Apply Online or call 877-411-9327

Charlotte Jumbo Mortgage Loan Limits Increase!

Charlotte FHA Mortgage Loan Limits Increase!

Update: Well, it seems that politicians in their infinite wisdom have made some changes to the final draft of this bill. Based on some of what we are seeing right now, Charlotte may not benefit from this jumbo loan limit increase after all. Some areas in the country will see limits increase to over $700,000! But since Charlotte is still such a strong market, we may not see the increases once thought. Once the President signs this into law, and the legal eyes of all the lenders finally get done, we will see how this impacts Charlotte jumbo loans. However, jumbo rates are near an all time low, so it is still a fantastic time to refinance your jumbo loan, or purchase that dream home you have been wanting! As soon as further information becomes available, I will pass it on to you.

Charlotte: Refinance Now!

Mortgage Rates are at all time low’s! Recently we have seen some mortgage interest rate fluxuations in the market. Last week there was a quick drop that lasted a couple hours and then popped back up. But keep in mind, you do not want to float around hoping for that again! The next time we see that, if we see that, I would expect a high jump after the fall. In other words, if mortgage rates drop a 1/4 point in rate, I expect there to be a 1/2 point recovery afterwards!

Mortgage rates in the Charlotte area are still hovering in the 5% range as of this post. For anyone with a 6.5% or higher interest rate on your mortgage, now might be the time to refinance your Charlotte home mortgage. Do it now, before rates begin to increase… it will happen sooner than you think!

Apply Online or Call 877-411-9327

Refinance Charlotte Home Mortgages Today

That’s Right!

100% FHA Mortgage Loans

for Charlotte FHA Home Buyers

 Right now, Charlotte home buyers can buy a Charlotte FHA repossessed home with only $100 down! Under this special financing program, Charlotte FHA home buyers can waive the required 3% down! This means less cash out of your pocket, and the best mortgage rates on the market!

FHA has acquired a large number of foreclosed homes in the Charlotte real estate area. In an effort to reduce the inventory, we have access to a special FHA mortgage program called the HUD Repo Program, that allows a home buyer in Charlotte to buy an FHA property with only $100 down. The best news is that there is no addition to the rates, so you will still get fantastic FHA mortgage rates!

Call the Carolina Mortgage Connection to get pre-approved, and we can connect you to an FHA qualified Realtor that can help you locate these special homes!

Apply online or call 877-411-9327!

100% FHA Mortgages in Charlotte! Act now!

Special Contribution Article

1. Take your time…  Many Buyers in 2007 felt ‘rushed’ to make a decision to purchase property for fear that they would either get into a bidding war or the ‘cream of the crop’ would fly off the market.  We have a bit more time in 2008. Read the rest of this entry »