1. Know what you want before you get in the car: Make a list of what you need to have in a home to be happy and what might be nice to have in a home.

2. Pre-Approval: Start with your bank and have them go through the pre-approval process with you. This is important not only for your bargaining power but it also shows how serious a buyer you are.

3. Do some Research: Go on the Internet and talk to people that live in the areas that you are interested in living. Find out what school systems serve that area, community amenities, Owners Association fees, Insurance costs, Flood zones, Hazards etc.

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1. There are not many new homes priced under $200,000 left in New Bern or Havelock NC anymore.

2. This area is convenient to both New Bern and Havelock, just 10 min to the MCAS at Cherry Point or 10 min into Downtown New Bern.

3. Over the years this area, we call it Area 4 or 11(depending on which side of the Hwy you are located) has appreciated in value like no other area.

For more information on Indian Woods visit www.Ncpropertiesonline.com

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Did you know that your VA entitlement could be used more than once if your home was sold and the purchaser obtained a new loan?  Also, a bonus entitlement may assist you in purchasing another home with your VA entitlement depending on the loan amount and your remaining entitlement. 

Did you know that a VA loan might be assumable subject to certain restrictions? 

Did you know that some veterans are “Exempt” from the VA funding fee or you may receive a reduced VA funding fee with as little as a 5% down payment even on subsequent use. 

Did you know you that you may be able to refinance your VA loan to a lower interest rate without cash out of pocket? 

Did you know that a seller could pay your closing costs on a VA loan up to a certain amount? 

Did you know that VA does not set the interest rates?  Therefore, it is a very competitive market and you may want to compare interest rates.  However, when comparing interest rates compare discount points and loan origination fees, if any.

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After reading an article today from the

“Bloodhound” called

“We first warned

 you about Lending 

Tree a year ago”,   

 I am even more concerned when a client wants to use an Internet Lender! 

Apparently, some of Lending Tree’s former employees were allowing other lenders to steel protected private passwords of Lending Tree’s customers. They gave personal information to these outside predators such as social security number, income and employee data.   

 By the practices above, It only reconfirms the advise that I have been giving to my clients over the years I have been a Real Estate agent.  I have always recommended that my clients use lenders that they personally know or that are recommended to them from reliable sources. The safe thing about using a local lender is that they keep your information with in their organization, write their loans in house and are excessible to you face to face. Talking to someone face to face sure gives you a lot more information about who you are dealing with then a computer screen does. 

If there is an issue, a local mortgage company can provide you with answers in person that day, not have to wait for someone to pick up their emails. These local business men and women care about their reputation in the towns where they live and are less likely to do something wrong because of that reason. Real Estate agents like to work with these local individuals because of the services they do provide. They call back our clients in a timely manner, explain the loan process thoroughly and communicate with all of the other local experts involved in the transaction.

For these reasons and more I would always recommend a bank or mortgage company that I can reach out and touch, literally!        

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Why is it important for me to understand interest rates?

Well this is a big DUH!

How about saving money or buying a bigger home? If you just get this one concept then you will be ready to go shopping. Interest rates are not just numbers for bankers or mortgage people to review, they are for you. They affect things like your monthly payment and the total amount of money you would have spent on the home to name a few.

Here is an example that was given in an article called “Why Home Buyers Should Understand the Importance of Interest Rate Drops” by  Ki Gray

Using a mortgage calculator first let’s look at the difference between the mortgage on a 200k and the mortgage on a 195k house assuming a 6.5 percent interest rate.

200k  (6.5%)  Mortgage  $1264.13 per month
195k  (6.5%)  Mortgage  $1232.53 per month

The difference ends up being $31.60 a month.

Now let’s look at the difference between an interest rate of 6.5% and 6.0% on a 200k house.

200k  (6.5%)  Mortgage  1264.13 per month
200k  (6.0%)  Mortgage  1199.10 per month

The difference ends up being $65.03 a month or $780.36 a year. A simple half point drop lowered the mortgage payment by 5.4 percent.

Ki even has a tool for interest rates. 

When comparing mortgages, also keep in mind to note the differences in fees, although they may not affect your monthly numbers, you may pay more up front at closing.

Be Sharp, Save Money!  

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