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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.
Are you buying a home from a family member? Family transactions may have pluses for both the buyer and seller. A major benefit to buyers is a gift of equity. So what is a gift of equity? It is a little known rule which allows equity in a family member’s house to be used as the buyer’s down paymen...
Private roads.  These 2 words can make Realtors cringe!  Because agents know these words may cause some issues during the loan process.  But there are solutions.  So while looking for the perfect home, let’s say you come across the perfect one on a private road.  “No big deal to me!” says the buy...
It has started.  You hear the buzz everywhere talking about the future of interest rates, economy, and real estate market.  How many times will the Fed raise rates this year?  Should I lock in a mortgage rate now?  How is the job market doing?  Are housing prices going up?  No one has a crystal b...
It is no secret that student loans cause debt ratio issues when qualifying for a home loan. While mortgage lending hasn’t caught up with student loan debt payment options, there are great solutions available. So let’s share creative ways millennials and first time buyers with even large student d...
So has the lending world scared you into believing your credit score is your whole meaning in life? Obviously it isn’t, but it does play a very important role in key areas of life. Some you may surprise you. Credit scores could determine insurance rates, employment, opening a bank account, and of...
Well, 2016 is over and what a year it was! The real estate market had a great year which was supported by very low rates and an improving economy. As a mortgage lender, we try to do more than just close mortgage loans. Providing education is a cornerstone belief of our team. So we have compiled t...
The National Association of REALTORS® reported on Wednesday that Existing Home Sales in November edged higher by 0.7 percent from October to an annual rate of 5.61 million units, a 9-year high. Potential borrowers locked in before the presidential election on November 8 to secure low rates becaus...
SC FHA Loan Size LimitsThe Federal Housing Administration or FHA, announced the 2017 SC FHA loan size limits in all areas of each state.  Most of the SC FHA loan size limits increased from $271,050 to $275,650.  But there are some counties which have higher limits.  So make sure that you check th...
NC FHA Loan Size LimitsThe Federal Housing Administration has announced the FHA loan size limits for 2017 in all areas of each state.  The most popular level is for single family residences.  Most of the NC FHA loan size limits increased from $271,050 to $275,650.  But there are several NC counti...
There are so many reasons NOT to be a Cash BuyerBecoming a cash buyer is not easy and usually takes dedication over time.  So it usually doesn’t happen overnight.  Therefore, don’t put on the blinders and only consider paying all of that hard earned investment on a house.There are a lot of ways t...

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.