Ideal Debt-to-Income Ratio And why it’s important to manage Debt-to-income ratio refers to a formula that compares the amount of money you owe to the amount of money you earn. It’s an important formula in the grand scheme of your financial health, yet few people can even recite their figures. But before tackling what it’s…
Appreciation and housing starts up in many North Carolina markets Despite economic conditions that continue to improve in North Carolina, the Federal Reserve Bank in Richmond reports that North Carolina real estate markets have not fared quite as well. Jobs are still plentiful in the state, with a steady 5.4 percent unemployment rate holding through…
Do you need mortgage down payments? Not always. Too many people believe they need to save a large pile of money to even think about buying a house. They believe that having a down payment separates the homebuyer wannabes from the endless renters. These same people probably have never tried to buy a house. It’s…
First-time homebuyers often learn the hard way to evaluate the neighborhood as well as the price. Your first home is perhaps the biggest investment you’ll ever make. And while your independent mortgage lender — like Prime Mortgage Lending of West Asheville — ensures that you get the best loan possible as a first-time homebuyer, he…
You don’t need a lawyer to buy a house, but he’s on your side at your NC real estate closing. Homebuyers often complain about having to pay for a lawyer in addition to all the other fees and costs they encounter at their closing. After all, your Realtor is a licensed professional. You hire other…
TRID 101: Explained in Plain English – What you need to know about changes to real estate transactions Although TRID sounds like a creature you’d find in a science fiction movie, it’s actually something that can benefit you — and not through any diabolical means. TRID is an acronym that stands for “TILA-RESPA Integrated Disclosure.”…