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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.
OVM Financial is thrilled and honored to announce we have been named one of INC. Magazine’s Top 5000 Fastest-Growing Private U.S. Companies in 2015! Since our company’s initial start in 2011, we have managed to grow tremendously, while still maintaining our deep roots in client satisfaction and e...
In last week’s article (step 2), we explained lots of unique tips for saving money for a down payment and an emergency fund.  Today we are providing solutions to the # 3 Roadblock mentioned for first time buyers which is NOT having a budget in place to afford the mortgage payment and upkeep of a ...
A popular question we receive is “Can I enroll in bi-weekly mortgage payments after closing on our mortgage?” and this is a loaded question where often the answer is “No” because of the unnecessary transaction costs and/or the stress it puts on a budget.  So let us explain the ins and outs of bi-...
In the article last week we talked about credit and today we are providing solutions to the # 2 roadblock mentioned for first time buyers:  Buyers that have no or little money for down payment or reserves.  Read last week's article that had little known tips for establishing or correcting credit ...
 Picture this scenario:  A happy couple or individual has never purchased a home but would love to be homeowners in the future, BUT…*  There is not a lot of credit report experience or there are credit issues*  Has no money in reserves or for down payment*  Doesn’t have a budget in order to affor...
The USDA National Office just announced on June 16, 2015 that effective with guaranteed loan obligations on or after October 1, 2015 through September 30, 2016, the up-front USDA guarantee fee is increasing from 2.0% to 2.75%.  On a $200,000 purchase, that is an extra $1500 in cost!For buyers, U...
It is closing day and you are trying to remember when you can pick up the moving truck, do you have enough friends to help with the move, are you ready to put the utilities in your name, and ARE YOU PREPARED FOR CLOSING?Keep in mind that being prepared for closing does not start the day of closin...
Purchase & Construction Loans  Note:  VA funding fees are financed on top of the VA base loan amount and the amount depends if 1) whether the buyer is regular military or reserves/National Guard and 2) Is the Veteran considered 10% or more disabled by VA.  If a Veteran is 10% or more disabled by ...
This VA purchase closing had 2 characteristics of a VA loan that most did not know:   Accessing a Veteran’s 2nd Tier VA Entitlement and the seller paying off debt for the Veteran through sales concessions for the buyer.Our buyer that is a Veteran has an existing VA mortgage on another property th...
When purchasing a home, townhome, or condo in New Hanover County which includes Wilmington, Carolina Beach, Wrightsville Beach, Kure Beach, & Castle Hayne, not only do you need to worry about the mortgage payment, you should make sure that you figure in the actual property taxes for the property....

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.