Serving Cherokee, Bryson City, Sylva, Dillsboro, Franklin,  Lake Fontana, Maggie Valley, Waynesville, Whittier, & surrounding areas of North Carolina Return to Home Page

Innovative Financing Resources *Home buyers can us funds pooled from family members and others *A quallified co-borrower does not have to live in house being purchased, meaning parents can help their children buy their first  home. *Non-traditional credit sources can include rental expenses and utility payments. *Qualifiying income can come from rent paid by boarders. *100% financing packages *Enhanced debt-to-income for public employees
Fannie Mae www.fanniemae.com NC Partnership Office 704-335-8101	Countrywide Home Loans www.countrywide.com 800-556-9568
NC Housing Finance Agency www.nchfa.com 919-877-5700	Dept of Housing and Urban Development www.hud.gov NC Office 336-547-4000
Wells Fargo www.wellsfargo.com 877-937-9357

 NC Real Estate News and Notes
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On Jan. 1, the VA loan guaranty increased to $89,913 and the maximum loan amount was raised to $359,650. The critical requirements for home eligibility are an honorable discharge, an eligibility certificate and the ability to make the loan payments. All VA loans have a funding fee. For a borrower's first VA loan, the fee is 2 percent of the amount borrowed. That 2 percent is reduced to 1.2 percent if the borrower contributes more than a 10 percent down payment. Some seniors and aging boomers still don't know that reservists are eligible for VA programs. After 50 years of offering home loans only to vets who served active duty, the VA changed its ways in 1992. Men and women who have completed six years in the Army, Navy, Air Force, Marine Corps or Coast Guard Reserves, or the Army National Guard or Air National Guard, are eligible for VA home loans, including home purchase programs with no down payment. In addition, reservists who were called up to active duty after August 1990 and served 90 days continuously on active recall are eligible for VA loans and other benefits. This provision was inserted to help the thousands of men and women who were pressed into service during the wars in Afghanistan and Iraq.