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2007 Thunder Road Marathon
Runners refresh after the race. Congrats to the runners!Located in: Charlotte, NC
Attention Charlotte NC area School Teachers.
Did you know that you have the ability to purchase a Charlotte HUD home for only 50% of the list price? That's right! Using the Good Neighbor Next Door program, Charlotte area teachers can buy a home for half price. In addition to that, Charlotte teachers can take advantage of special Charlotte mortgage loans that require no money down and come with some of Charlotte's lowest mortgage rates!
There are a few restrictions and items you need to be aware of. So for more information on this program and how you can get pre-approved to take advantage of it, visit Charlotte Teachers Half Price Homes and Mortgages
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Ed Nailor is a loan specialist working with Residential Mortgage Center, a HUD approved Mortgage Lender offering mortgage loans for the Good Neighbor Next Door Program. This program allows Teachers, Firefighters, Law Enforcement Officers and Emergency Medical Technicians in the Charlotte area to purchase a HUD home for half price!
some restrictions apply
Apply online for your Charlotte area GNND mortgage loan
or call 704-651-8704 for your free mortgage consultation.
Earlier I posted my opinion on Zillow's new Mortgage Marketplace. Wow.. I actually got Zillow's attention. Not only did I get comments, I also got phone calls!
So to be completely fair to their new system that allows borrowers to blindly pit lenders against each other to provide quotes based on... well, based on nothing really... I decided to try it out myself.
I registered as a customer and filled out the form. On that form I asked for a mortgage quote for a no money down mortgage loan with a credit score in the mid 600's. 5 days later I have received 2 quotes (ONLY 2) and they were close to 1% apart in rate.
The problem is that outside of VA or USDA loans, there are no more 100% loans available today... FHA and conforming loans will require at least 3% down, and conforming would require 5% down with a mid 600 score. Neither of the quotes provided me with any feedback beyond a rate and estimated fees.
Here we have an uninformed lender advising an uninformed borrower about the best rate or program they can get.... WHAT? When will we all get beyond smoke and mirrors?
Or does this even matter? I only got 2 quotes in 5 days in the only good market in the US! Could I be worried about nothing here? Or is it just a matter of time that somehow this will get popular and make mortgage professionals look bad in the end. After all, we are the professionals and SHOULD know better than to quote rates based on NO INFORMATION. How can you back up your quote?
I hope some major changes are made here if it continues, but somehow I doubt it. Zillow's money model is to sell ads, not service. So the service does not have to be real if they can simply attract enough people that might click on the ads...
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Apply online for your Charlotte area mortgage loan
or call 704-651-8704 for your free mortgage consultation
Charlotte's Preferred Mortgage Lender
I have been getting a lot of phone calls lately from Charlotte area real estate agents and salespeople. It seems that they have been seeing a lot of mortgage approvals getting denied! What in the world is going on?
One of the most common concerns has to do with big local banks, such as Bank of America and Wachovia. Because these are such big banks in Charlotte, many Realtors and sales people have just sent their clients to them. The problem is that large banks like Bank of America only offer Bank of America mortgage products. So when they make changes to their own mortgage loan products, it becomes a "yes or no" decision, not a "let's move it to another program" decision.
Check out the case in point: Surprise! Your Approval Denied.
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Apply online for your Charlotte area mortgage loan
The Ed Nailor Mortgage Team with Residential Mortgage Center.
Charlotte's Preferred Mortgage Lender
So you have been pre-approved. Even better, you have actually been approved using an automated approval system. Now you know how much home you can buy and are ready to shop.
But as you shop for your home the budget doesn't seem to be enough. "Can't I just get a little bit more?"
I hear this often. The answer here is a quick... "Well, that depends..." On what?
Find out how (or if) you can go Beyond the Approval Limits
A question was recently asked of me regarding buying investment homes and getting the mortgage loan as an LLC, and it is one that has come up more than once recently. Here is the question:
I've been working with a group of investors for about a year and a half now who is buying rental property in Charlotte. I sell, rent, and manage what they own. Up to the beginning of this year they have been buying the property using conventional financing in one of their own names and simply quit claiming it to their LLC.
As of a few month's ago they have kind of reached a point where they no longer qualify for a conventional loan due to the number of properties they own, and they are looking for a bank that will lend directly to their LLC to purchase property. The goal is to buy 2-3 cash flowing rentals a month under the LLC. The group has a ridiculous amount of assets personally and plenty of funds to put down towards the purchases, along with a bunch of business experience and stellar credit.
Can this be done?
Check out the options for Buying Investment Homes as an LLC
Because its about more than a mortgage... Its about your Life, your Home. Dedicated to educating, inspiring and assisting in the American Dream. Visit http://CarolinaMortgageConnection.com
Our Mission We are dedicated to educating, inspiring and assisting in the American Dream. Our Core Values A note from Ed Nailor:It's about more than a mortgage...
It's about your life and your home!
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://carolinamortgageconnection.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
Find out more at carolinamortgageconnection.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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