Shay Campbell's Blog

Extra time to close and more required documentation is the new normal in mortgages. Streamline mortgages, Fast and Easy mortgages and Super Simple mortgages are gone, if not forever, for a very long time.  The days of limited documentation is all but history. After it was realized how much the mo...

VA loans are overlooked more often than not because many mortgage originators and real estate agents do not understand them or don't do enough of them to feel comfortable originating or recommending them.  A VA loan is the best 100% financing available today.  One of the first questions I ask my ...

USDA mortgages are back in business.  Last week USDA, or as some people call them Rural Housing, announced lenders may begin submitting new loan requests to them.  This is good news because it is one of the last 100% financing available for home buyers.   USDA mortgages are not a loan for everybo...

Finally news from USDA, Rural Housing has arrived.  USDA released a letter dated August 23, 2010 to mortgage lenders saying Congress has given USDA the authority to increase the upfront fee to 3.5 percent of the base loan amount and to charge an annual fee of .50%.  Think of annual fee as monthly...

North Carolina has second lowest closing costs in the Nationfor home mortgages according to a news article in CNNMoney.com.  This is a fact that I have been telling my clients for the past 12 years that the cost of a purchase mortgage or the cost of doing a refinance is low in North Carolina.  Wh...

Yesterday, August 5, 2010, some good news and bad news from FHA was announced by David H. Stevens, Assistant Secretary for Housing/Federal Housing Commissioner in a special edition press release.  Congress this past week acted quickly and passed H.R. 5981 which changed mortgage insurance for FHA ...

$8,000 is still availablefor first time homebuyers in Raleigh and the rest of North Carolina.  One of the big challenges facing first time homebuyer is coming up with the required down payment that is required for many mortgages. This North Carolina program is for the first time homebuyer who has...

Zero down payment programs for Wake County NC properties are still available.  There are not as many of them as there was three years ago but we still have them.  Unlike before when many of the zero down payment programs was offered by Fannie Mae, Freddie Mac and Wall Street investment banks all ...

FHA loans for the home buyer in Raleigh NC should be considered by the first time homebuyer and the tenth time homebuyer.  This government program does not make mortgages; it insures mortgages.  As long as the investor follows FHA guidelines, FHA will insure the mortgage for losses against forecl...

You pre-qualify your clients.  You should also pre-qualify your loan officer.   Experienced Realtor's knows the value of pre-qualifying their clients.   I have heard some say "I will not let a client in my car until they are pre-qualified."   Realtors do this to make sure your client has the nece...