There are many steps to buying a home and the first is getting preapproved for a mortgage, but what exactly does that entail? The infographic below explains what mortgage professionals most often require from those seeking a home loan and what buyers can expect to do to secure a mortgage. Now, it’s important to note that the infographic states that a 5-20% down payment is expected but know that there are existing programs that require as little as 0% down. Not everyone will qualify for that, but it’s definitely something to discuss with your mortgage broker/loan officer.
If you’d like a referral to a reputable local loan officer, don’t hesitate to reach out to us. We have some great professionals that we’ve worked with, and we always give a couple of names so you can find the one that works best for YOU.
Your 6-Month Home Buying Plan
Home Buyer Tips, Buying a Home, Finance, Home Buyers, MortgageBuying a home can take months of preparation – maybe even years, depending on your needs. If you’re thinking about purchasing in the next year, we’ve compiled a brief overview of what the average buyer should be doing 6 months to 1...
How Much Does It Cost to Move in North Carolina?
Home Buyer Tips, Home Seller Tips, Buying a Home, Home Buyers, Home Sellers, Moving, Selling a HomeThe cost of moving in North Carolina can vary widely depending on the size of your home, the location of your new dwelling, timing of the move, and any additional services needed (packing, special handling, equipment rental, etc.). While...
What is Wire Fraud? How to Avoid Becoming a Victim
Home Buyer Tips, Buying a Home, Home Buyers, Wire FraudAccording to the FBI’s 2018 Internet Crime Report, Americans lost nearly $150 million to real estate scams just last year. This is a country-wide problem, but it has happened right here in Wilmington – more than once and on a million...
The Benefits and Disadvantages of Using an Online Lender
Home Buyer Tips, Buying a Home, Finance, First-Time Buyers, Home Buyers, MortgageTheir commercials are all over television and streaming devices – online lenders advertising quick approvals and apps that make the application process super easy. The ease of accessibility appeals to home buyers who like the low-press...
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