Seller: Ask This Question Before Accepting An Offer On Your Home

Has Your Buyer Been Approved For A Mortgage In Writing? As underwriting guidelines have tightened since the financial collapse of 2007, accepting a buyer’s offer that hasn’t been approved by a reputable local lender is a risky proposition. It’s true that full approval will only come after an appraisal on your home and the buyer […]

What is the Velocity of Money and How Does it Impact Home Loan Rates?

By Eric Clonch, Mortgage Loan Originator, NMLS# 327193 Beverly-Hanks Mortgage Services ASHEVILLE, NC – If you’re an observer of economic news, you’ve probably noticed that market experts and traders keep a close eye on the Commerce Department’s Personal Spending and Personal Income reports. These reports provide insight into the health of our economy, but did […]

How are Purchase Loans Made?

No clear on how purchase loans work? Here is a step-by-step walkthrough for how purchase loans are made. 1. Loan Search – Buyers should seek the advice of an experienced mortgage professional, someone who will help determine which financing options best suit their needs today and in the future. 2. Loan Application – It’s crucial […]

Second Chance for First-time Homebuyers

You’ve already filed your 2008 tax returns and maybe you’ve already received your refund. That means it’s too late to obtain the $8,000 tax credit for first-time home buyers enacted by President Obama’s Stimulus Plan, right? Wrong. The great thing about this tax credit is that you can still get the cash this year, even […]