Jim Enright's Blog

By Jim Enright. The loan to value ratio (LTV) tells you how much of a property is being financed. It is a way to determine how much equity you have in a property. For example, assume you buy a home worth $200,000. If your mortgage is for $150,000, then your loan to value ratio is 75% (because you...

By Jim Enright. Nope. Fannie Mae and Freddie Mac don’t make loans directly to homebuyers. For the most part, they purchase loans from lenders on the secondary market and sell them as a mortgage-backed security to investors on the open market to replenish their supply of funds so that they can mak...

Hi I’m Rick Arnold. This is my wife Jess.  We’re from Hillsborough, North Carolina, and we just bought a house in Gibsonville, North Carolina, with the assistance of Jim Enright and his team. We actually came to Jim through a recommendation from our realtor for our first time buyer home loan in ...

This page will be the ongoing story of what works and doesn’t work during the mortgage loan approval process. Borrower errors, attorney errors, realtor errors, and yes, even lender errors.  Mine. I prefer to call them lessons, as the education never stops. I’m beginning this series with a very im...

Top 10 Tips for First-Time Home Owners Rent or Own? Renting can sometimes be the better deal. Owning a home is an expensive investment. After covering the down payment and mortgage, you'll have to pay for insurance, closings costs, and maintenance. Calculate and compare all of the NC home owners...