North Carolina Home Buying
House hunters are flocking to North Carolina because of its majestic scenery, laid back lifestyle and abundance of new home communities. Although existing home inventory is up, new home communities are abundant such as Shea Homes in the Charlotte area and luxury home builder, Toll Brothers throughout Raleigh-Durham.
North Carolina mortgage lenders and mortgage brokers tell borrowers that the home buying process can move along smoothly if the borrower conducts research and is prepared. Whether it’s for real estate investing or financing a new family home; all borrowers must furnish the same documentation. In fact, borrowers must produce information about debts, assets and income for all mortgage loans—from first mortgages to mortgage refinance and home equity loans. The first stop borrowers should make in the home purchase process is to calculate how much home they can afford. Use mortgage calculators or a home purchase calculator to determine home affordability. Next, North Carolina borrowers should check their credit score. Borrowers can obtain a free copy of their credit report to determine if their credit rating accurately reflects the assigned credit score.