Mortgage and Lending 
Mortgage and Lending news in the Charleston, SC Real Estate market, with financing topics.
There are currently 4 blog entries related to this category.
When is the Real Estate Bottom Going to Arrive in Charleston SC?
Friday, June 17th, 2011 at 11:31am. 519 Views, 2 Comments.
I get a lot of real estate questions during work, at dinner parties, at kid’s birthday parties, from friends, from family- about the current real estate market here in Charleston. The number 1 question that I’ve been getting lately is:
When are we going to see the bottom?
Well, if I had a dollar for every time I’ve heard that question. The short answer is: I don’t know, but it could be now, depending on other factors, or your current situation. I want to put something out there that I hope you buyers will take into account when considering purchasing at “the bottom”. Know that every person’s situation is different when timing the market- but let’s look at one factor. Do not only think in terms of home values when determining “the bottom”, but…
What is This News About a New Real Estate 'Sales Tax'?
Wednesday, September 15th, 2010 at 7:38am. 343 Views, 0 Comments.
Many of you may have seen recent emails talking about a Sales Tax on real estate sales. Below is the article from the National Association of Realtors website which is a great resource for current information that provides an accurate summary of the new provisions.
No 4.0% “Sales Tax” on Home Sales in Recently Enacted Health Reform Bill
Contrary to reports and newspaper articles circulating widely on the Internet, there is not a 4.0% "sales tax" or "transfer tax" on the sale of a home included in the recently signed health care reform bill. The analysis underlying these reports is incorrect and fails to take into account the interplay of the bill's provisions with already existing real estate tax laws that remain unchanged.
What was included in the health…
New Changes in FHA Financing Coming Soon...Good or Bad?
Thursday, August 19th, 2010 at 3:00pm. 441 Views, 0 Comments.
Well, it looks like there are going to be some changes in FHA financing coming down the pipe. Take a look at this short video, and see how it will affect you and your final loan payment. These changes will go into effect on September 7th, 2010.
**Not mentioned in this video is the fact that allowable seller concessions used to top out at 6%, where they are now going to top out at 3%.
Video courtesy RealPro Innovations.
What makes up a FICO credit score?
Wednesday, April 21st, 2010 at 10:28am. 487 Views, 0 Comments.
In the land of all credit scores, FICO is king. The majority of banks in the USA use FICO scores for whether or not they are going to lend you money, and at what interest rate.
So how does FICO come up with this score? I'll break it down for you, below:
1.) Payment History. Based on you payment history, making the repayment of past debt is the most important factor when calculating credit scores.
2.) Debt Amounts. This is based upon your total outstanding debt. Removing lines of credit is the best thing you can do when getting rid of debt amounts. Another thing to consider is not maxing out your credit limit with credit cards. Try to maintain a good balance, and pay it off frequently.
3.) Length of Credit History. This is the length of time each…
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