November 2008

Found 4 blog entries for November 2008.

Not too long ago, buyers were able to purchase homes without making a down payment. There were several options for these zero down loans, such as Fannie Mae’s My Community or Du Flex loans. An around the way (but quite popular) option for doing this with FHA was getting the seller to contribute the down payment money to a non profit organization like Nehemiah or AmeriDreams, which then granted the money back to the buyer for a fee.   Despite the popularity of such loans, lenders are now realizing that these kinds of loans did more harm than good. In short, there is no such thing as a $0 down mortgage anymore. Fannie Mae has raised guidelines for their loan products and is not allowing zero money down now.    However, borrowers who were…
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I wanted to include some information about a new listing in Manning, SC, since it can be difficult to find historic homes like this one with so much acreage.     Classic Antebellum Plantation Home in the Greek Revival Style majestically set on 89 acres. Home built for Edward Bertrand Davis and is known as The Davis House on The National Register of Historic Properties. This home is constructed entirely of heart pine and cypress with two circular stairways made of mahogany. The original window panes and shutters grace the mansion. Northern soldiers occupied this home during the War Between the States, and it was one of the few spared from flames.   Outstanding features include Great Entrance Hall with dual mahogany staircase, formal
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Home mortgages have gotten a lot of attention in the news during the past few weeks. As home buyers keep hearing about how lenders are tightening the loans they give out, many people are wondering if they’ll now be able to get the home they could have easily bought months ago. I’ve included in this article one of the most common questions we’ve gotten from home buyers in the past few weeks: is it harder to qualify now than it was 3 months ago before the mortgage crunch?    The short answer to this question is that it’s gotten more difficult for lenders to qualify borrowers who have limited down payments. A borrower now needs a clean credit and a few months’ of reserves in the bank in order to get qualified. Borrowers also now have to make a minimum…
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Charleston, South Carolina attracts visitors from across the country, and we’ve even seen an increase in international tourism in the past several years. One of the most popular things to do is walk through the historic districts of the downtown area (also called the Charleston Peninsula). Homes dating back to the 1700s line the streets of the peninsula (especially the southern end of the peninsula), and they have a classic architectural style of their own. Although some styles (like the Greek Revival style) are popular in the downtown Charleston historic districts, you’ll see a lot of the classic “shotgun” style houses, which where developed specifically for Charleston’s downtown lot shapes that are narrow and extend deep from the street. We’ve included…
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