Posts Tagged ‘Charlotte’
Jumbo Mortgage Limits to Rise
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
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
100% FHA Charlotte Mortgage Loans!
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!
Now is THE Time to Buy: 10 Reasons Why!
Special Contribution Article
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 »
North Carolina Draws More ‘Transplants’
Special Contribution Article
So, Hawaii and Florida may be known as ‘vacation’ states but, North Carolina is now the TOP ‘migration’ state! A recent study by United Van Lines revealed that in over 200,000 interstate moves, NC had the largest number of newcomers and the least number of residents leaving the state! Charlotte, The Queen City, and the largest city in North Carolina, has been extremely popular due to economic and job growth. In a recent interview, the Charlotte Chamber of Commerce VP of research, Tony Crumbley, stated that it is ‘fact that we are creating jobs and our quality of life’ are other draws to our beautiful city. The fact that our region enjoys a four-season year is also a big draw. Read the rest of this entry »
Charlotte in National Spotlight Again
More Good News Charlotte!
Today, Vice-President Dick Cheney made a visit to Charlotte NC and spoke before the Charlotte Chamber. As expected, Mr. Cheney did speak about how great President Bush has been for the country. That was no surprise by any means.
However, one of the items that excited me was the acknowledgment of Charlotte’s great economy. Mr. Cheney described Charlotte as “one of the most vibrant economies.”
Let me also thank Bob Morgan, Pat Riley, and the members and the staff of the Chamber this morning for arranging my visit. It’s a pleasure to be in Queen City, here in Charlotte. You’ve built one of the most vibrant and diverse local economies in America. In this community, enterprise is encouraged, and hard work is rewarded; optimism is the order of the day. You’re a model to others, and you’ve helped make North Carolina’s economy among the fastest growing in the country. I appreciate the chance to pay a visit this morning, and I bring good wishes to all of you from our President, George W. Bush.
Excerpt from http://www.whitehouse.gov/news/releases/2008/01/20080131-1.html
I love this. With all the national news about how bad the world is, how horrible the economy is and the fear of a recession, Charlotte still stands out as one of the few bright stars! In an economy where home values have fallen across America, Charlotte’s real estate market is one of just a few metropolitan areas that has actually seen an increase in values and still remains strong!
Get excited my fellow Charlotteans! You are part of a great community, and even those at the White House (during an election year no less) are taking notice!
NOW is THE time to BUY!
ATTN: POTENTIAL CHARLOTTE NC HOME BUYERS
NOW IS THE TIME TO BUY!
Seriously, what are you waiting for? Your Charlotte home search just got simple. Heck, get out and drive any neighborhood you like and you will see at least one home for sale! It is amazing just how many homes are for sale in Charlotte! The selection we have right now is not like anything we have seen in quite some time! And sellers are willing to negotiate! THIS IS A BUYER’S MARKET!
Charlotte’s Real Estate Market Still Solid
Check out this ABC News report about Charlotte, NC’s real estate market. Originally released June 2007, this speaks directly as to why Charlotte has remained a solid trend of growth and increased home values.
Although Charlotte has softened somewhat over the past few weeks, thngs are rebounding quickly. However, Charlotte real estate is still much better than majority of the country!
With 100% Financing still available and some of the best mortgage rates in Charlotte, now is THE time to buy a home!
Call 877-411-9327 or Get Pre-Approved Online
Bank rewards Sale of “Risky Mortgages”
Several times over the past few days I have noticed this headline. The basic story here is that Wachovia, a Charlotte NC based lender is paying their loan officers additional incentives for selling their “Pick a Payment” mortgage program.
The “Pick a Payment” mortgage loan has been the staple loan of World Savings Bank, now owned by Wachovia. This loan offers the borrower several payment options, including one that leads to “negative amortization.” And in light of today’s declining market and the negative press the entire mortgage industry has endured, this certainly makes for great headlines. The problem is that the news media fails to fully explain this mortgage loan, similar to how some not so “above the board” mortgage brokers and lenders failed to explain it to their clients.
The Ink is Not Yet Dry!
Bank of America has agreed to purchase Countrywide for roughly $4.1 Billion. So this makes Bank of America the largest bank in America in regards to mortgages. Many industry analysts have spent much of 2008 speculating on the impact this will or will not have on the market.
And yet… this is not a “done deal” just yet.