Raleigh Relocation | Moving to Raleigh | Triangle NC Relocation Information

Instant Down Payment Assistance for First Time Homebuyers

Raleigh Relocation Information Package

First Time Homebuyers Can Apply $8,000 Towards Down Payment

Progress Made on FHA Loans

Progress is being made on allowing first time homebuyers to apply that $8,000 tax credit directly to the down payment on their new home, instead of waiting until next year's tax refund to collect the windfall.

Read tax credit story here - CNN Money.com

What does an $8,000 Down Payment Get You?

Many FHA loans require a 3.5% down payment.  $8,000 is 3.5% of a $228K home - thus the down payment requirements can be met nicely on many different homes in a first time homebuyer's price range.

Time is Running Out for the First Time Homebuyer Tax Credit!

Time is already quickly running out on the first time homebuyer tax credit.  The tax credit is only valid until December 1st, 2009 - and it's very unlikely that this will be extended.

With lending taking 30-60 days to put in place once a home is selected, that means that most first time homebuyers will need to choose their new home, and have an offer accepted, by October 1st, 2009. 

As we're already nearing June 1st, that's just 4 months of searching time left...

 

Are Many First Time Homebuyers Taking Advantage of the Tax Credit?

Raleigh Custom Homes | Buying a Home in Raleigh

The answer is a resounding YES!

According to the National Association of Realtor statistics, a whopping 53% of homes purchased in March 2009 were purchased by first time homebuyers.  This compares to 40% of all purchases in 2008, or a 32% increase in the pool of first time homebuyers.

Another side effect - selection is reducing, and prices are just starting to rise in first time homebuyer price points. 

Most multiple offer situations are in these price points, so be sure to have your agent do a good comp analysis before making your offer, or chances are good you'll miss the opportunity to purchase your first (or second, or third) choice of your new home. 

 

  

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Finding Your New Home in the Raleigh Area 

New Homes Raleigh NC - New Home Raleigh - Raleigh NC New Homes - New Home Raleigh NCStanton Homes makes it easy!  We'll guide you through the entire process - select from thousands of different floor plans, and hundreds of different locations, with a focus on new custom homes in the upper $100s to the $500s. Custom design build options available too!

Call 919-278-8070 or visit www.StantonHomes.com to find out more about new homes in the Raleigh area today. 

Custom Home Floor Plans | NC Custom Home Builders | Floor Plan Options Floor Plan Price | Raleigh New Home Cost | Custom Home Cost Estimate Floor Plan Ideas | Floor Plan Styles | Custom Home Floor Plans Raleigh New Home Lots | Custom Home Lots for Sale | New Home Lots Raleigh NC

Articles copyright Stanton Homes 2006-2011.  Unauthorized use is not permitted.  Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any statements.  Please note:  all listing information per MLS, and current as of posting date.  Information subject to change.  Stanton Homes does not make claims to ownership of  any lot listings, but can work with homebuyers to purchase available lots and build.  Home plans to be approved on an individual basis, subject to neighborhood restrictive covenants and lot restrictions.  Ask for further information regarding any community, lot or floor plan.  Photos represent typical homes and details of each neighborhood, to help highlight different options available in the Raleigh/Triangle area.  No claim of ownership is made to homes or land pictured.  

What Kind of Home Qualifies for a USDA 100% Loan in the Raleigh, NC Area?

Looking for 100% Financing?

What Types of Homes Qualify for USDA 100% Financing?

USDA Loans - 100% Financing - Homes Available in Raleigh NC Area - Wooded Acreage in Chatham County

 

There aren't many 100% financing opportunities left!

A USDA Rural Loan may help you purchase a home with no money down.

Wondering what kinds of homes might qualify for this kind of financing?

USDA financing is not just for farms! 

 

 

This beautiful custom home on 1.5 wooded acres just northwest of Pittsboro and 25 minutes from Chapel Hill qualifies for 100% financing through the USDA Rural Loan program.

Here's the financial details, using the USDA 100% Financing Program: 

Sales Price $272900

Funding Fee (mortgage insurance) 2% $5458

Total Loan Amount (Fee plus Sales Price) $278358

P&I (at 6.25%) $1714

Taxes and Insurance (est) $230

Total PITI $1944

No downpayment!

No Origination Fee - reduced appraisal and attorney fees!

Maximum Income for a family of 4 is $82000 in Chatham County (under the Durham MSA).  Not all lenders are approved with the USDA program.  Make sure to work with a lender who has expertise with USDA loans!

About This Home: 640 Rebecca Lane in Cattail Creek

USDA Loans - 100% Financing - Homes Available in Raleigh NC Area - Wooded Acreage in Chatham CountySite finished Hardwood Floors in Formal Dining and Family Room

Custom Tile Floors in Foyer, Kitchen, Breakfast, Laundry, and All Baths

Oak Staircase with Wrought Iron Balusters.

Archway Openings Throughout First Floor

Trey Ceilings with great lighting and delicate trimwork

Multiple Piece Crown Moulding and Oversized Baseboard

 

 USDA Loans - 100% Financing - Homes Available in Raleigh NC Area - Wooded Acreage in Chatham County

Master Bath includes terrific Maple Cabinets (upper and lower!), Tile Floor, Soaking Tub with Tile Surround, and Custom Tile Shower with Glass Enclosure.

Walk In Master Closet with Built In Wood Shelving

Wood Shelves in All Closets

Huge Upstairs Bonus Room

Expanded Island Kitchen with Maple Cabinets and Stainless Steel Appliances

Finished and Painted Garage with Workshop Area

Circular Driveway

 

 

 

 

 

Cattail Creek offers custom homes on wooded acreage, in the $250s-360s.

Interested in seeing if you qualify for this loan program?  Want to know what other areas and credit scores qualify?

To find out more about the USDA loan program, contact Steve or Eleanor Thorne at First Financial, 919.649.5058, or visit http://stevethorneonline.com/.

Read Eleanor's information about the USDA program.

 

You may also be interested in these Chatham County, NC Relocation Resources:

Chatham County New Homes, Lots, and Land

The Preserve at Jordan Lake - Homes and Communities in Chatham County - Chatham County Relocation

New Custom Homes at Cattail Creek - Homes on Acreage in Chatham County

Chatham County Relocation Package - Considering a Move to Chapel Hill, Carrboro, Pittsboro, or Chatham County?

Chatham County NC New Homes

 

Raleigh Custom Home Builders - Model Home Tours

Finding Your New Home in the Raleigh Area 

New Homes Raleigh NC - New Home Raleigh - Raleigh NC New Homes - New Home Raleigh NCStanton Homes makes it easy!  We'll guide you through the entire process - select from thousands of different floor plans, and hundreds of different locations, with a focus on new custom homes in the upper $100s to the $500s. Custom design build options available too!

Call 919-278-8070 or visit www.StantonHomes.com to find out more about new homes in the Raleigh area today. 

Custom Home Floor Plans | NC Custom Home Builders | Floor Plan Options Floor Plan Price | Raleigh New Home Cost | Custom Home Cost Estimate Floor Plan Ideas | Floor Plan Styles | Custom Home Floor Plans Raleigh New Home Lots | Custom Home Lots for Sale | New Home Lots Raleigh NC

Articles copyright Stanton Homes 2006-2011.  Unauthorized use is not permitted.  Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any statements.  Please note:  all listing information per MLS, and current as of posting date.  Information subject to change.  Stanton Homes does not make claims to ownership of  any lot listings, but can work with homebuyers to purchase available lots and build.  Home plans to be approved on an individual basis, subject to neighborhood restrictive covenants and lot restrictions.  Ask for further information regarding any community, lot or floor plan.  Photos represent typical homes and details of each neighborhood, to help highlight different options available in the Raleigh/Triangle area.  No claim of ownership is made to homes or land pictured.  

USDA Loans - 100% Financing in the Triangle Area - It's Not Just for Farms

I hadn't heard of this loan program before a great local lender pointed it out...

The USDA has a 100% financing program called Rural Housing Loans.   My first thought - this must be for farms or farmland.  It's not!  These loans can be used to purchase a wide variety of homes.

There are two big catches: location and income level.

Surprisingly, most of the Triangle area DOES qualify, as long as you're not in the Cities of Cary, Raleigh, Durham, or Chapel Hill - the population there is too large, and this program was created to help potential homeowners in rural areas.  But that leaves a lot of areas open.

USDA Loans Chatham County Raleigh Custom Home Builder

As you can see, all of Chatham County is qualified, as well as Harnett and Johnston counties.  Parts of Fuquay-Varina, Holly Springs, the outskirts of Apex, parts of Knightdale, Wendell, Clayton, and Zebulon are all qualified.  To check if the address of the home you're considering qualifies, click here

The next catch is income level.  If you make over a certain income, you can't apply for this program.  Income limits depend on how many people in your family are over the age of 18. 

There are two different types of loans in this program - Section 502 Guaranteed Rural Housing Loan Program and Section 502 Direct Rural Housing Loan.  You'll want to ask an expert for the details of the differences in these two loans.

 

 

USDA Loans - 100% Financing Chatham County

 

For example, a family of 5 living in Chatham County (2 adults and 3 children) can have a maximum income of $88,550.00 for the Guaranteed Rural Housing Loan Program, but a maximum of only $61,600.00 for the Direct Rural Housing Loan Program.  

However, before you knock yourself out of the running, check with a loan professional like Steve and Eleanor Thorne Meridian Residential.  These income levels represent ADJUSTED INCOME, after deductions for various things like child care and child credits

For instance, that family of 5 could have a gross income of $101K per year, and $12,000 yearly in child care expenses.  This and other credits could place adjusted income just below the maximum $88,550, meaning they could be qualified for the guaranteed program. 

The maximum allowed adjusted income varies by family size and location, so to check and see if you qualify, click here

This seems like a program worth checking into.  I'm not a mortgage professional, so make sure to ask someone who is for all the details, and to see if you qualify.  For more information on USDA loans contact Steve and Eleanor Thorne Meridian Residential.  919-649-5058

 

 

Raleigh NC New Home Resources - Building a Home in Raleigh

 

Raleigh NC New Home Builders

 

Build On Your Lot in Raleigh, NC

 

Accessible Homes NC – Accessible Builders in Raleigh

 

Acreage Lots for Sale Raleigh, NC

 

Golf Course Communities – New Homes on a Golf Course in Raleigh

 

Raleigh, NC New Home Lots and Land

 

Most Up-to-Date Raleigh Market Reports - How is the Housing Market in Raleigh?

 

Raleigh Custom Home Builders - Model Home Tours

Finding Your New Home in the Raleigh Area 

New Homes Raleigh NC - New Home Raleigh - Raleigh NC New Homes - New Home Raleigh NCStanton Homes makes it easy!  We'll guide you through the entire process - select from thousands of different floor plans, and hundreds of different locations, with a focus on new custom homes in the upper $100s to the $500s. Custom design build options available too!

Call 919-278-8070 or visit www.StantonHomes.com to find out more about new homes in the Raleigh area today. 

Custom Home Floor Plans | NC Custom Home Builders | Floor Plan Options Floor Plan Price | Raleigh New Home Cost | Custom Home Cost Estimate Floor Plan Ideas | Floor Plan Styles | Custom Home Floor Plans Raleigh New Home Lots | Custom Home Lots for Sale | New Home Lots Raleigh NC

Articles copyright Stanton Homes 2006-2011.  Unauthorized use is not permitted.  Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any statements.  Please note:  all listing information per MLS, and current as of posting date.  Information subject to change.  Stanton Homes does not make claims to ownership of  any lot listings, but can work with homebuyers to purchase available lots and build.  Home plans to be approved on an individual basis, subject to neighborhood restrictive covenants and lot restrictions.  Ask for further information regarding any community, lot or floor plan.  Photos represent typical homes and details of each neighborhood, to help highlight different options available in the Raleigh/Triangle area.  No claim of ownership is made to homes or land pictured.