If I Have a USDA Loan, Can I Buy in Wilmington?

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Many buyers, when they think of USDA loans for “rural” properties, they automatically assume that they need to buy in Burgaw or outside Leland. In reality, they can still purchase in New Hanover County and may even be able to purchase within a Wilmington zip code. As of the publishing date of this blog post, there are communities in Murrayville, …

4 Most Common Types of Home Loans

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Trying to choose the best home loan for you can be a bit of a headache when there’s so many terms to choose from. A good mortgage lender will explain everything and make sure you understand your options, so there aren’t any surprises at the closing table. But as you head into the mortgage marketplace, it’s a good idea to …

What’s In a Mortgage Payment?

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Your monthly mortgage payment is made up of multiple components. The choices you make when choosing a loan package and making an offer can affect the amounts of those components, and, essentially, the full monthly payment. Here’s an infographic that gives a breakdown of those components, including how different downpayments will affect the principal interest, mortgage insurance, property insurance, and …

In Addition to a Mortgage, What Costs Should Be Factored Into Owning a Home?

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For some home buyers, the extra costs of owning a home can be a surprise. When calculating how much home they can afford, they focus wholly on the mortgage payment (including taxes and PMI), which is, of course, a large chunk of their monthly expenses, but there are some other expenses they may or may not be aware of. We …

What does “Active Due Diligence” mean?

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While searching for Wilmington homes for sale, did you see the listing status “Active Due Diligence”? If you haven’t bought real estate in the past few years, you may not be familiar with the term. But it’s an important term to know, so we’re here to educate! If you see “Active Due Diligence”, that means the property has a contract …