Eleanor and Steve Thorne's Blog

Mortgage and Lending - Equity Resources, NMLS 60596 - NMLS 60596
Johnston County biased blog dedicated to providing information about FHA, VA mortgages, USDA home loan and conventional mortgage loan information for Smithfield, Clayton, Benson, Wilson Mills, Dunn, and other parts of Johnston County. Highly experienced mortgage loan officers with some of Today's Best priced mortgage loans!
We have tons of people who want to know how to get quicker Underwriting for USDA Home Loans in NC.  The thought of having to move in with family, living out of boxes is not appealing to anyone.  So what are the tips for getting your keys early??? Check this list of 7 things you can do To Get Quic...
FNMA has removed the requirement for a limited condo review for a detached condo project. Detached condos must meet general property/appraisal standards, insurance and priority lien requirements BUT the limited review requirement has been removed.A condominium is a method of ownership, typically ...
I happen to live in Cary, NC.  I’ve been here since I was in 6th grade, so it’s been a couple of years.  Cary has been called “The Land of $400k Houses.”  I guess that’s because there are a couple of Golf Courses, and there’s some pretty big houses around Regency and Preston and the other side of...
 The USDA Home Loan program is one of the most utilized loans available – for those who qualify.  The qualification process for these loans, however, has gotten a little harder in 2018, and they’ve issued some subtle, but important USDA Home Loan Guideline Updates. General USDA Home Loan Guidelin...
There’s a mortgage program that has been very popular in Western Wake County that requires no down payment, and it is offered by USDA.  It’s designed for “Rural Areas,” and is offered as a way to spur growth in those more traditionally rural parts of our state.  In Holly Springs, Fuquay Varina, K...
FHA Appraisers have certain requirements that go above those required of a Conventional Appraiser.  Because of that, FHA Appraisals are more detailed, and are usually at least $50 or more expensive. Structural Requirements for FHA Loans means that the Appraiser must note that the Utilities are on...
 “Millennials have long been called the next wave of home buyers.” I don’t know why this is “shocking” because the US Housing Market has always relied on First Time Home Buyers coming into the market to help everybody else move up, or downsize. First time home buyers comprised 38 percent of singl...
When you are purchasing a home from a family member – then there are some extra hoops that you have to jump through.  With FHA, the rules on how to buy a house from a family member allow us to loan you up to 96.5%, as long as the borrower has been renting the property (literally paying rent, not ...
MANY First Time Home Buyers in NC are now using the Conventional Fannie Mae Home Ready program to purchase a home.  So many, in fact that for the first time in decades, FHA is no longer commanding a large share of this unique market.  Why is that happening?  In part it is because Conventional Loa...
Many people who are just plain tired of renting a home near ECU are looking for a way to take advantage of the historic low mortgage and they are trying to get the lowest price on a home.  If you don’t have a job yet, that might seem impossible – but the FHA Loan program offers the option of havi...

Steve and Eleanor Thorne

Mortgage Loan Johnston County
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