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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.
Why did so many buyers move to South Carolina in 2015?South Carolina consistently ranks very high in the annual United Van Lines Movers Study and in this article we share the reason why so many buyers moved to SC in 2015.Everyone knows South Carolina for the beaches, so why wouldn’t people want t...
 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...
Is PMI Still a Tax Deduction?We continue to hear threats of axing the mortgage interest and PMI tax deduction but there has been a decision for 2015 & 2016.  Low to Middle level taxpayers take their tax deductions seriously and want everything possible that will lower their tax burden or better y...
When the Fed speaks, the mortgage world braces themselves.  But this time the result was ok – so far!Mortgage rates, so far, have barely moved from where they were prior to the Fed rate increase.  Normally, mortgage interest rates rise when the Fed increases their federal funds interest rate but ...
The Commerce Department reported on Wednesday that Housing Starts in November rose 10.5 percent from October to an annualized rate of 1.173 million units; this was above the 1.135 million expected. The big jump in November nearly erases the 12 percent decline from September to October. Single-fam...
Check out this success story!  A little known tip which licensed Real Estate Agents can take advantage of is using their commission as down payment for the purchase of their own home.We just had a closing on new construction for a buyer using near the loan size limit for an FHA loan (County limit...
Under 640 score, over 55% debt ratio, VA home loan purchase that needs to close in 33 days?  No way?  Yes, Way!! So often there are times when someone has some hurdles to overcome when purchasing a home and our team is one that will figure out a way to make the loan work if it can be.  We were j...
“Do you want to put that on your charge card for a special discount?” or “If you open a charge card with us, you will save 30% off of today’s purchase!” is what you will hear at every department store you visit over the holidays.  Sounds great, right?Not when it comes to credit scores!  There are...
Do you have limited, but good credit and want to buy a home with little to no money down?Our USDA guaranteed loan guidelines will allow for us to add nontraditional credit to a thin credit file in order to get approval for the buyer.Check out these 2 USDA loan approvals for very limited, but good...
211,000 new jobs were created in November, above the 196K expected, while September and October were revised higher by a total of 29K. The report also showed that the Unemployment Rate remained at 5%, a 7 year low, which was inline with estimates. Average hourly wage growth rose 0.2%, which was ...

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.