Photos from Charlotte Home Loans - Your Charlotte Mortgage Lender
11014 Lancaster Park Dr in Ballantyne. This beautiful townhome is for sale. Visit www.EdNailor.com/homes.htm for more info.Located in: Charlotte, NC
HUD has long required properties to be held for 90 days by the seller before the property could qualify for an FHA mortgage loan. Effective June 9, 2008, HUD has waived the 90 day requirement in regards to homes being sold by lenders who foreclose on a property.
CLARIFICATION: After further review it appears that this waiver will only affect properties for sale by mortgage companies due to foreclosure and the companies that they transfer the proeprties to in order to sell. Investors who "flip" properties may still be subject to the 90 day rule.
This waiver is good for only one year and will expire June 9, 2009.
For more information on how this will impact Charlotte FHA mortgage loans, visit Charlotte Home Loans
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As a HUD approved FHA mortgage lender, Ed Nailor can provide FHA loans for home owners and home buyers in the Charlotte area (including Concord, Gastonia, Matthews, Monroe, Huntersville and Ft. Mill as well as all of North and South Carolina.)
Apply online for your Charlotte area FHA mortgage loan
or call 704-651-8704 for your free mortgage consultation.
"Oh, so you are a mortgage guy huh? What's your Shtick? What gimmick do you run?"
This was the question laid before me by someone calling themselves a sales professional. I asked, "what do you mean...Shtick?"
"You know... what's your game? How are you different from the rest. I see all those websites out there offering free quotes, no 'hidden' fees (wink wink) and claiming to revolutionize the mortgage world. Where do you fit in? What's your Shtick?"
Wow! Is that what we have become? Is the mortgage world this messed up? Have we relugated ourselves to such insane and insulting levels? Maybe so...
I too see the gimmickry going on. I see the websites offering ways to revolutionize the world! All claiming that for years lenders have been stealing from borrowers and now they will turn the tables. I hear the ads on the radio, "We'll use the lender's own money to get you a better rate!"
Its all a game it seems!
I remember when I was younger and wanted to buy my first home. The real estate agent I worked with suggested we sit down and consult with a local mortgage professional for advice. Gave us his name and number.
We went to visit this guy and he was great. explained how the mortgage process worked, shared with us what we needed to do and offered to help in any way we could. There were no gimmicks.. no trickery, no outlandish claims to beat back the lenders that were out to hurt us! He was simply a professional mortgage loan officer at a small brokerage.
So, what's my gimmick... my "Shtick"? I'd have to say the same thing that loan officer did for me... Honesty, fairness and respect. Treat others the way they want to be treated. If I have to resort to games it may be time for me to quit!
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Buying a home or refinancing your mortgage is not a game, nor something to be played with. If you want a real, honest and solid approach to one of the most important decisions of your life, I invite you to give me a call. If you want a "revolutionary website with promises gallore that will change the face of lending forever," well... that ain't me.
Ed Nailor - Home Mortgage Loans in Charlotte and beyond
704-651-8704 or visit EdNailor.com
AVM: Automated Valuation Model. A system by which public data is interpretted to come up with an estimation of a property's value. Many lenders rely heavily upon AVMs. IN the past, some lenders used ONLY AVMs in their lending decisions, a practice that has left many of them facing major defaults and losses. Today, AVMs are more typically used by lenders to validate the value of an appriasal. If the appraised value and an AVM value are dramatically different, the lender will require a review of the apraisal, or a second appraisal. To ensure the validity of the AVM, lenders actually pay for the AVM program and have some sort of insurance built in. This keeps the AVM companies working hard to enure as accurate a product as possible.
ZILLOW: Real Estate Website Portal. Zillow is a website that bills itself as providing an "edge in real estate." They offer free tools to the general public, most noteably the Zestimate. The Zestimate is Zillow's branded verison of an AVM. Taking information provided to the general public, Zillow's claims to be able to estimate the value of a property. According to Zillow's disclaimer on the values, they are only accurate to within 5% of a home value roughly 26-28% of the time. The values are only accurate to within 10% of the home's value 49-53% of the time. The estimates are within 20% of the actual value 68-70% of the time. Although they claim a "median average" of error as only roughly 10% (interesting math), the numbers they claim above would indicate that they are pretty far off at least half the time. The service is free and offers no insurance or guarantees. They make money on selling ads.
Reality: The difference between hype and what you really get. When considering Zillow as something to base any idea of value on, one should remember that the information they offer is free, comes with no guarantees or insurance, and is off by at least 10% half the time. AVMs offered by real companies trusted by Lenders will be much more accurate and offer assuances on their values. Lender's stake MILLIONS of dollars on the accuracy of AVMs provided by these companies.
My Conclusion: Zillow is simply an advertising medium, offering a free (and flawed) estimation of real estate property values.
Feel free to draw you own conclusions. However, I will leave you with the 3 questions that I can not shake, as follows:
The floor for discussion is open....
Ed Nailor, Charlotte Mortgage Lender
Waiting on the Right Time to Buy a Home? How about finding the right home to buy now?
Money Magazine punlished an article recently that echos what I have been saying for quite some time. Too many people are waiting for the perfect time to buy, thinking they can time the "bottom" of the market to get the best possible home. Yet even Money Magazine, one of the most trusted magazines about finances says this is not a wise move!
Check out more about this article at Great Home or Great Timing
Who knew I was as smart as those Money Magazine folks? LOL
Ed Nailor, Charlotte Home Mortgages
Apply online for a Charlotte Mortgage Loan or call 704-651-8704
Effective July 14, 2008, HUD has approved an increase in FHA mortgage insurance premium rates. The increases are "Risk Based" and will vary based on loan to value and credit score.
FHA still requires a minimum 3% down payment, but for those that put down more, the premiums will be lower. The better the credit score is, the lower the premiums will be.
For those on the lower end of credit with minimal down, they will see the most significant increases in FHA mortgage insurance premium costs.
So how much are the increases, and how much will it affect FHA mortgages? I have put together an example of these changes and the impact they will have on one's mortgage qualifications. Read Changes to FHA Mortgage Loans
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As a HUD approved FHA mortgage lender, we can provide FHA loans, including FHA Secure and FHA Rehab loans, for home owners and home buyers in the Charlotte NC area (including Concord, Gastonia, Matthews, Monroe, Huntersville and Ft. Mill as well as all of North and South Carolina.)
Apply online for your Charlotte area FHA mortgage loan
or call 704-651-8704 for your free mortgage consultation.
Ed Nailor, Charlotte FHA Mortgage Loans
704-651-8704 Phone or visit EdNailor.com
Because its about more than a mortgage... Its about your Life, your Home. Dedicated to educating, inspiring and assisting in the American Dream. Call 704-651-8704 or visit http://www.EdNailor.com
Our Mission
We are dedicated to educating, inspiring and assisting in the American Dream.
Our Core Values
When Time and Money Really Matter... Trust the experts of the Ed Nailor Mortgage Team!
A note from Ed Nailor:
I love what I do and take great satisfaction in helping others acheive their goals.
I have worked in the areas of finance and money for many years and have always believed in serving my client's interests over mine. As a mortgage loan specialist, it is my goal to help find you the best solution for your mortgage and financial needs. Working with several lenders across the nation, I have access to hundreds of mortgage programs... some of which are only available on a wholesale basis! Allowing me to work for you will save you the time, frustration and headache of calling 50 lenders and getting 100 different solutions for your one problem. Let me use my experience and expertise to help you.
I have developed a couple websites to help provide more information about myself and also the mortage process. For more information about me or my company, please visit http://www.ednailor.com/. If you are a first time home buyer, or have credit issues, you may want to visit http://www.droprent.com/.
That's just a brief description of me professionally. But that's not all of who I am.
I have been a Charlotte area resident since 1999 and absolutely love the area. I am married and have 3 wonderful kids. We attend church at Harrison United Methodist Church in Pineville. Some of my personal interests include whitewater rafting, playing the drums and playing poker. I enjoy good conversation, especially with folks that have an open mind. Of course, there is more to me than this, but that doesn't leave much fun in getting to know someone, now does it? I also love good coffee, if you'd like to grab a cup some day!
So in light of that, I look forward to meeting and getting to know you!
Sincerely,
Here are a few of the programs available for our customers:
Conventional and Jumbo Loans
Conventional loans are secured by government sponsored entities or GSE's such as Fannie Mae and Freddie Mac.
Subprime Loans
Programs for those that have less than perfect credit.
FHA Loans
Programs that help low and moderate income families become homeowners by lowering some of the costs of their mortgage loan.
VA Loans
Loan programs available to those who qualify by military service.
Second Mortgages and Home Equity Lines of Credit
Loan programs to take advantage of the equity in your home.
Fixed Rate Mortgages
A loan program where your monthly principal and interest payments never change.
Adjustable Rate Mortgages (ARMs)
These loans generally begin with an interest rate that is 2-3 percent below a comparable fixed rate mortgage, and could allow you to buy a more expensive home.
Introductory Rate ARMs
Most adjustable rate loans (ARMs) have a low introductory rate or start rate, some times as much as 5% below the current market rate of a fixed loan.
COFI Index
This index is used to determine the interest rate for some types of ARMs.
LIBOR Index
This index is used to determine the interest rate for some types of ARMs.
Balloon Mortgages
Balloon loans are short term mortgages that have some features of a fixed rate mortgage.
Interest Only Loans
"Interest only" products are an easy way to save money and a very popular alternative to traditional fixed rates but they are not without risk. An "Interest Only" loan can offer consumers greater purchasing power, increased cash flow and a number of other benefits.
Graduated Payment Mortgages (GPMs)
The GPM is an alternative to the conventional adjustable rate mortgage, and has a fixed note rate and payment schedule.
Interest Rate Buydowns
The most common buy down is the 2-1 buy down. In the past, for a buyer to secure a 2-1 buy down they would pay 3 points above current market points in order to pay a below market interest rate during the first two years of the loan. At the end of the two years they would then pay the old market rate for the remaining term.
Reverse Mortgages
A reverse mortgage is a special type of loan made to older homeowners to enable them to convert the equity in their home into cash.
Commercial Loans
Loan programs for commercial and investment properties
Ed Nailor
Mortgage Specialist
c/o Residential Mortgage Center
205 Regency Executive Park Suite 200
Charlotte, NC 28217
Phone: 704.926.5671
Mobile: 704.651.8704
Fax: 704.926.5606
E-Mail: info @ ednailor.com
Common Search Keywords to Find Me
Charlotte Home Loans , Charlotte Mortgage , Homes in Charlotte , Charlotte Real Estate
Ballantyne home loans , Ballantyne Mortgage , Homes in Ballantyne , Ballantyne Real Estate
Pineville home loans , Pineville Mortgage , Homes in Pineville , Pineville Real Estate
Monroe home loans , Monroe Mortgage , Homes in Monroe , Monroe Real Estate
Testimonials
Debe Maxwell, Charlotte NC Realtor posted: http://activerain.com/blogsview/434294/Right-Back-At-Cha
G. Ahern, CFP wrote: Thank you for taking care of (client name omitted). I don't trust my clients to anyone and you have certainly demonstrated that I can make a referral and not have to worry about how my client will be cared for.
M&L Calwile wrote: Ed, We have to give thanks once again for all the hard work! May God Bless and we will never forget what you have done for us.
T. Brown, REALTOR wrote: Dear Mr. Nailor, Thank you for your hard work on the successful closing of (address withheld) for Mr. and Mrs. S. I look forward to working with you in the future.
F. Rivers wrote: Ed, You made all of this possible. My kids and I thank you.
D. McCray wrote: Dear Ed, Just wanted to let you know that we are truly enjoying our new home. And would like to Thank you for all of your hard work, and all of your reminders and my b-day card. Thanks again for all of your hard work. If this world had more Ed's like you, it would be a better place!
G. Thomas, REALTOR wrote: I heard about what happened yesterday with Ms. J. Thanks for making sure everything was taken care of. I tried to call her several times but never got an answer. Thanks again for your help. I guess that's why YOU ARE THE MAN!
S&C Klien wrote: Ed, We wantedto tell you how much we appreciated all the hard work and effort you put into helping us own our first home We love it and have been very happy so far. We wish you all the luck with your little ones. Again, thank you again.
D. Morgan, Loan Officer wrote: Ed, Just want to say "thanks" for all the time and effort you have put forth to help me become a good loan officer. I pray you and your family have the very best in life.
A. Cochran, Insurance Agent wrote: Ed, Thanks for Everything!
T. Duncan, Attorney at Law wrote: Dear Ed, I hope you are doing well. On behalf of my entire office, I would like to thank you for referring C. and R. D. to our office. We enjoy working with our clients and it is always nice to have referrals sent to us. People such as you help us coninue our service to the greater Charlotte area. Once again, thank you for thinking of us and allowing us to help those you care about. As always, please do not hesitate to contact our office if we can assist you in any way.
M. Graves, REALTOR wrote: Ed, Thank you again for referring M. and S. to me! See you soon!
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