The Associated Press reported today that existing home sales rose in Feb, surprising economists who expected another month of declines.
This is great news for our nation! We are all in a buyer's market and hopefully fear is beginning to lose its grip on Americans.
Visit EdNailor.com for more information on how this affects Charlotte Real Estate and Mortgage Loans
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Brought to you by Ed Nailor - Charlotte Mortgage Lender
Call 704-651-8704 for your free mortgage consultation,
or get pre-approved for a Charlotte mortgage online.
Concord NC - part of the 29th Fastest Growing County in America
Recent census stats show that Cabarras county is among the fastest growing counties in the country. Growth in Cabarras county can be attributed to the solid real estate market, great Concord area mortgage options, great shopping and entertainment, and fantastic climate!
There are so many reasons to consider moving to Concord NC and Cabarras county. If you are considering a move to the Charlotte North Carolina area, give Concord a shot. You may be one of the many people that have recently called Concord, NC home!
More information: Concord NC and Cabarras County Growth
FHA Underwriting Taking Longer
Traditionally, you could put 30 days on a sales contract and have plenty of time. But be aware of a growing trend... extended underwriting turn times.
On average, most lenders are experiencing 7-10 business day turn times on FHA mortgage submissions. This means that it can take up to 2 weeks from the date of file submission for an underwriter to actually get to and review the file. This is due to the overwhelming demand on the FHA mortgage process.
With the economic stimulus package's increasing of the FHA loan limits, many people are taking advantage of the great FHA mortgage rates. Add to that the increase of "manually underwritten" loans due to the subprime implosion and you have a steep increase in FHA submissions and lenders scrambling to keep up.
While I am still getting Charlotte FHA mortgage loans closed in an average of 30 days, I still recommend that buyers and Realtors give a little extra time in the contract just in case there are delays or a big surge in submissions. This can help prevent issues in missing expected closing dates.
For more information on Charlotte FHA mortgages, visit EdNailor.com
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This information courtesy Ed Nailor
Proudly Providing:
A few years ago, one look at the Charlotte Observer's classified ads and you would think that everyone in Charlotte was selling their home! It would take multiple pages to hold all the homes for sale.
But today, I just noticed something. The Observer's real estate classified ads section is very small. So small in fact that they have had to sell a "special insert" to one of the largest companies selling real estate in Charlotte in order to appear to still offer real estate ads!
So why the decline?
Well it is certainly not due to a lack of homes for sale. Charlotte home buyers have more choice today with Charlotte homes for sale than anytime in recent history!
I think it is the internet. With online services like Charlotte Single Property Websites and Craigslist, people are moving away from the printed ad and more towards online medium. And with over 70% of all potential home buyers starting their Charlotte home search online, who can blame them? You want to go where people are looking!
For more information on Charlotte real estate or Charlotte mortgage loans, visit EdNailor.com
By roughly March 17, some 90,000 Union County homeowners and property owners will be notified of Union County's new values. The county is revaluating property values and has indicated that 90,000 residents and owners will be notifed of a change in their value... most likely an increase.
For more information about this notice and what it means to Union County property owners visit: Union County Real Estate and Taxes
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Brought to you by The Ed Nailor Mortgage Team, providing Charlotte area mortgage loans
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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