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 …

What is the Wilmington Mortgage Market Like?

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Are you curious about local home loan lending practices? Would you like to know the type of mortgages most prominent in the Wilmington real estate market? Then, you should know about the Consumer Financial Protection Bureau’s Home Mortgage Disclosure Act. Since 1975, the Home Mortgage Disclosure Act (HMDA) has required financial institutions to collect and publicly report information about home …

12 Questions to Ask Your Lender

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When it’s time to apply for a loan, there are 12 important questions that you should ask your Wilmington mortgage lender or broker. The answers to these questions will help you gauge if you’re getting the best loan package for you. What is the best type of loan for me? This seems to be a relatively straightforward question, but it …

8 Hurdles to Overcome Before Reaching the Closing Table

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The buyers have finally found THE house, the sellers have been presented with a number they are happy with, and both parties have signed on the offer contract’s dotted line, but the race to closing has only just begun. Before the title can officially pass hands, there are some hurdles that both parties need to overcome. It’s unsettling to think …

Mortgage Shopping? Know the Types of Lenders

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When shopping for a home loan, buyers will encounter numerous sources for lending. It’s important they are educated on the different types of lenders, so they choose to work with an originator that will provide them with the most choices and best programs.  It’s also good to understand how these lenders work. Many lenders will sell loans. Who you start …