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Mortgage and Lending - Blue Ridge Bank Mortgage - NMLS # 78989
The goal of my blog is to give you real world mortgage solutions to actual mortgage scenarios I see everyday.
The Federal Housing Administration or FHA, announces the loan size limits each year for all areas of each state in the U.S. For 2015, most areas stayed the same but there are some changes so make sure that you check these limits when considering an FHA loan.  Keep in mind that the FHA funding fee...
What are the guidelines for borrowers with a short sale on a previous principal residence?When a previously owned property was sold for less than what was owed (short sale), borrowers are considered eligible for an FHA insured mortgage if, as of the loan application date, all mortgage and install...
Whether everyone likes it or not, the TILA RESPA Integrated Disclosure Rule or TRID, is going to happen on October 1, 2015.  TRID which is mandated as part of Dodd-Frank, is meant to help consumers to understand the key features, costs, and risks of the mortgage loan for which they are applying a...
As a buyer or realtor, before agreeing to a sales price on the purchase contract, it is very important to know if you need or want seller paid costs, how much is needed or most beneficial, and how much is allowed to be paid by the seller.    The limits for seller paid closing or settlement costs ...
One of the most popular questions we receive is “how do I tell if the property is USDA eligible?” or something similar. Whether you are a buyer, seller, or realtor, you should get familiar with this site as USDA is a great opportunity for a buyer to get affordable financing at 100% of the sales p...
A huge benefit within FHA guidelines in regards to deferred student loan payments will go away on 9/14/2015, originally was to expire on 6/15/2015.  For FHA case files assigned prior to this date, borrowers that have student loan payments which are deferred great than 1 year after the closing dat...
The most common need we see among buyers these days is a great low or no down payment mortgage solution.  There is a little known affordable payment, low to no down payment option available with Team Move and OVM through the NC Housing Finance Agency (NCHFA).  In 2014, NCHFA unveiled the NC Home ...
Everything you want to know about Pest Inspection RequirementsWhen using a VA Home Loan for a purchase or refinance in the states of NC, SC, and Virginia, a Pest / Termite Inspection is REQUIRED prior to closing.  The only exception to this requirement is when refinancing with a VA streamline IRR...
Wrightsville Beach, NC which is one of Wilmington’s hot locations to live, surf, and hang out, has received another award! just named Wrightsville Beach on their top 14 Best Small Beach Towns in America.  Check out the list of their top 14 locations by clicking here. ...
A construction to perm loan for stick built and modular homes has a lot moving pieces just as building a house does and a popular question is "How does the construction perm loan process work?".  Construction to Permanent Loan Process Complete loan application and pull credit Send you a detailed ...

Russell Smith

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The goal of my blog is to give you real world mortgage solutions to actual mortgage scenarios I see everyday.