Deanna Valeo
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TOP 10 Hints: What Realtors Need to Know to Avoid TRID Delays August 6, 2015

TOP 10 Hints: What Realtors Need to Know to Avoid TRID Delays   New RESPA Forms are effective when buyers apply on or after October 3, 2015 1. Use a "Day 1" mentality of doing things today - not tomorrow, not next week, TODAY. 2. Submit contract addendums and required documents to your Loan Officer as soon as possible. 3. Advise buyers to choose their homeowners agent the first week of the contract instead of waiting to d read more

Rents Keep Going Up! April 27, 2015

 Rents Keep Going Up! According to the Wall Street Journal today , low inflation would be even lower (1% vs. 1.4%) if rents hadn't increased year over year by 3.5% topping off a run of rent increases that started in November 2010.  Since September 2011 national rent increases have been around 3% per year, meaning if your rent was $1000 then it will be $1,142/month today and there is no sign it is slowing. According to the labor department, the reason is supply a read more

Giving the gift of home ownership to your children and grandchildren; it is easier than you think April 4, 2015

Giving the gift of home ownership to your children and grandchildren; it is easier than you think.   QUESTION:  My daughter and son-in-law (he really is a good guy) want to buy a new home and we would like to help them out with their down payment.  We just got the GREAT! News; we're going to be grandparents!  How much do we need to give them to buy their new home? We don't want them to use all their new savings for a down payment.&n read more

Gifts, Condos and Foreign Assignment (Oh My!) March 23, 2015

  Did you know a 5% gift (no funds of their own required) is okay for Conventional?   This must go Fannie Mae direct.  Many Banks have overlays on their underwriting and do not allow this.  It's a great way for borrowers with good credit to get the best rates and lowest cost mortgage solution.   Remember good credit is required we must get a DU approval. Condos you can do limited review with 10% down payment using Freddie Mac.  This is great b read more

97% NC Housing Finance Agency loans are great for any buyer March 17, 2015

The North Carolina Housing Finance Agency (NCHFA):  NCHFA offers a 97% conventional loan, with a 2% down payment assistance, leaving only a 1% down payment required from the buyer.  Rates available at this link. Video Example of $200,000 purchase with 3% Seller Paid Closing Costs:  http://screencast.com/t/XSKQOOWlKB4Q  Here are the basics: - 97%  loan to value loan   - 2%  down payment a read more

My Parents Need Help, How Can I Buy Them a House for 5% down? March 11, 2015

When It's Time To Give Back Children can buy their parents a House for as little as 5% down : There is a little known mortgage product that allows children to buy a home for their aging parents and get owner occupied rates as well: even if the house is right next door.  This Fannie Mae product also allows parents to buy the same way for physically or mentally challenged children. Changes in demographics will drive the need for Millennial's and Gen Xer's to h read more

Two Great Ways to buy a house with 100% Financing February 17, 2015

Two great ways to get into a house with 100% financing: Did you know if you don't currently own another home there are two great ways to buy a home with zero down payment?  The key is finding the right home and negotiating seller paid closing costs: a great Realtor can help you make that happen. The first Type of loan is a USDA loan.  This type of loan if for areas outside of the city; as the metro area continues to expand we see more and more families wanting to m read more

More House with the Same Payment: FHA just got better! January 21, 2015

With the new monthly mortgage insurance announced earlier this month FHA, loans just became more affordable. FHA Loan underwriting is more flexible and now it will make more sense for buyers to use FHA when they purchase. FYI: We do 3% down payment Conventional loans for first time buyers too! Deanna Valeo Cell (704) 488-1421  NMLS 91421 Todd Croy Cell (704) 488-7763  NMLS 91428 We look forward to helping and putting s read more

Escrow Hold Backs Can Save Your Buyer’s (or Seller’s) Day October 20, 2014

Have you ever had a problem where a seller lacked the funds to do a required repair prior to closing? Even if you have never had this actually kill your sell, chances are you have encountered this situation in some variation and it made for some very stressful last minute maneuvering and delayed closings. An Escrow Holdback can save you these headaches and just might save your transaction one day. An escrow holdback is when funds (typically on the seller side) are held at close u read more

97% North Carolina Housing Finance Agency loans are great for any buyer October 15, 2014

The North Carolina Housing Finance Agency (NCHFA)has just released new details on its conventional loan product. As a refresher or for those unfamiliar; NCHFA offers a 97% conventional loan, with a 2% down payment assistance, leaving only a 1% down payment required from the buyer.  Rates available at this link. Here are the basics: 97%  loan to value loan  with 2% down payment assistance (2nd Mortgage) available, for a minimum of 1% borrower c read more