Financing Your Dream Home

home loans

Finding the Right Lender for Your Triangle Home

When I was a caterer, we did many type of events. Off site events, for instance, required different menus and equipment. We brought the grills, ovens and even the port-a-lets. There were some jobs that called for just a pig cooker and disposable flatware. Other jobs required more refined elements like caviar bars, multiple cooking stations, or signature linens. Knowing which tools to use was a large part of the job. The same can be said of lenders.
First Time Buyers, Veterans, Physicians, Seniors, Teachers and folks with discharged bankruptcies all need specialized products. If you don’t know which product is best for you contact me at 919.619.2236 or mari@hiddencoast.com

Just as one would not serve vintage champagne at a pig roast, one should never use a B/C lender for a client with a 900 middle score who wants an 80/15/5 product and to pay no PMI. Does that sound like jargon? It is. But I know what it means and I know which lender to refer which person to.

Are you looking for a conventional home purchase loan?

If you have good credit and your goal is to have a smooth transaction at a competitive price, try:

Carolina Bank
Jennifer Foster – Mortgage Loan Officer
919-442-1259 | jennifer.foster@carolinabank.com

First Citizens
Lori Eichel | Mortgage Banker|
919.401.5060 Lori.Eichel@firstcitizens.com

Are you considering an FHA or VA loan?
Not everyone is qualified or even knows how to write these. These mortgage pros do!

Carolina Bank
Jennifer Foster – Mortgage Loan Officer
919-442-1259 | jennifer.foster@carolinabank.com

First Citizens
Lori Eichel | Mortgage Banker|
919.401.5060 Lori.Eichel@firstcitizens.com

Are you a teacher?

Towne Mortgage
Aaron Hall
919.260.6719
aaron.hall@townemortgage.com

Are you a medical doctor?
There are some great products for doctors

Carolina Bank
Jennifer Foster – Mortgage Loan Officer
919-442-1259 | jennifer.foster@carolinabank.com

Are you a policeman or fireman?

Towne Mortgage
Aaron Hall
919.260.6719
aaron.hall@townemortgage.com

Are you a UNC Employee?

North Carolina State Employee’s Credit Union

Are you over 62?

Seniors can use a reverse mortgage to purchase a new home or as a source of income with their current home. Some people find it especially useful to help them keep up with maintenance and protect their investment for the long term.

I am now working with a couple who bought their “last” home outright with cash. Now it turns out that this home no longer fits their needs and they miss some of the luxuries that they gave up when downsizing. They are financing 49% of their home purchase and will never make a payment for the rest of their lives. They were a little nervous at first but they have consulted with a gerontologist counselor from a non-affiliated not for profit. They understand it and are really looking forward to their new home in Fearrington Village.Reverse Mortages:

First Citizens
Lori Eichel | Mortgage Banker|
919.401.5060 Lori.Eichel@firstcitizens.com

Have you thought about buying a property that could use some tlc, a little updating or even a major rehab?

Orange, Chatham and Durham counties have great some older homes requiring major remodeling that can be bought reasonably but it is extremely important that you get a loan designed for doing a rehab.

Carolina Bank
Jennifer Foster – Mortgage Loan Officer
919-442-1259 | jennifer.foster@carolinabank.com

First Citizens
Lori Eichel | Mortgage Banker|
919.401.5060 Lori.Eichel@firstcitizens.com

Are you self-employed?

Corporate Investors Mortgage Group
Andy Law, Senior Mortgage Banker
1526 East Franklin St, Ste.201
Chapel Hill NC 27514
alaw@cimginc.com
919.929.6116
919.929.6146 fax

Do you have ‘less than perfect’ credit?

Corporate Investors Mortgage Group
Andy Law, Senior Mortgage Banker
1526 East Franklin St, Ste.201
Chapel Hill NC 27514
alaw@cimginc.com
919.929.6116
919.929.6146 fax

Are you looking for an honest credit counselor?

These resources have been approved by HUD:
http://www.hud.gov/offices/hsg/sfh/hcc/states/northcarolina.txt

Looking for a lot loan?

First Citizens
Lori Eichel | Mortgage Banker|
919.401.5060 Lori.Eichel@firstcitizens.com

Need loan for acreage, a farm or commercial property?

Carolina Farm Credit
Hillsborough@carolinafarmcredit.com
919-732-2168

silercity@carolinafarmcredit.com
919-742-2189

graham@carolinafarmcredit.com
336-227-5531

Do you need a little more help?

Give me a call at 919.619.2236 or send me an email – mari@hiddencoast.com

Buyers and Title Insurance

Buyers and Title Insurance: Contributed by Doug Watson, CEO of Frontier Title

title insuranceWhy do buyers and title insurance go hand in hand?  With more than five million homes sold annually in the United States, purchasing a home remains at the center of the American dream. A large percentage of these buyers will be making this major purchase for the first time, which can be an extremely stressful and overwhelming experience. Even for an experienced homebuyer, purchasing a home can be a daunting undertaking, as they are well aware of the stack of paperwork that must be completed in order to get the keys to their new home. One of the lesser-known aspects of purchasing a home is the role that title insurance plays within the closing process. Title insurance is a very important investment, so we’re sharing some information to help homebuyers better understand its role in the home buying process.

What is Title Insurance?

Title insurance protects real estate owners and lenders from property loss or damage they could experience from liens or defects in the property’s title. Unlike other insurance options that require monthly premiums, title insurance is a one-time fee paid by the buyer at the time of closing. Title insurance rates differ based on the value and location of the home being purchased. While title insurance is not mandatory, it is a strong investment.

Who is Title Insurance For?

Both homebuyers and lenders need title insurance in order to be insured against various possible title defects on a property. Prior to closing, the insurance company will run a title search on a property. This typically takes between two and three business days and statistics show that more than 33 percent of title searches result in a problem that must be resolved before closing. Liens or defects on the title can include tax liens, abstracts of judgment, child support liens or bankruptcies. A lien means another company or person has the right to keep possession of your property until your debt is repaid. Without title insurance, the new buyer would be responsible for clearing any defects that are on the property.