Fort Mill, Tega Cay, Lake Wylie Real Estate

Wow, the stock market got a little scary today!  The employment numbers were worse than expected and the stock market took a hit… that is good for rates typically and we saw a little improvement, but oil prices are still rising and that is BAD for rates.  Overall, we are in a holding pattern right now with an slightly upward trend.

30 Year Avg: 6.25%

100% Programs

GONE.  The only way to buy right now without any down payment is with some time of down payment assistance.  FHA loans are back in the spotlight!

Also, ask about community programs and first time homebuyer programs.  There is some money out there for lower income buyers but beware, some have neighborhood restrictions.

STATED INCOME

Agency Stated programs are back!!!  We can offer conforming pricing on stated income programs again… the only drawback is 75% max financing.  NO DOC loans are no longer available in N.C.

INVESTMENT Programs

PMI companies are no longer offering mortgage insurance for cash-out refinances on non-owner occupied properties.  If you own investment property and are looking to get some cash, you are now stuck with 80% loan to value.

What’s HOT??

AVOID that PMI!!  You can finance 80% even if you don’t have 20% yourself to put down.  You get the 80% from one lender and that lender allows you to get the other 10% or 15% from another lender… presto… you get great rates and NO PMI!!

For more details contact…

Infomation is for the Charoltte Metro area which includes Fort Mill, Tega Cay, Lake Wylie areas.