Financing a Fayetteville NC Home

Wow...getting money to buy a home in the Fayetteville area (as everywhere else) has become much more difficult in the past few months.  Gone are the days of no income verification, 100% loans that attracted investors in droves and eventually helped fuel the mortgage meltdown.

However, it is not all gloom and doom.  For the vast majority of buyers, there is still money readily available to buy homes.  If you have a verifiable income and your credit score is not terrible, there are programs that can get you in a home now.  

I would recommend that if you are considering a home purchase, the first step is to visit a reputable lender.  They can help guide you to what is the best program for your current financial situation.  While shopping for the best rate and fee structure is important, it is also very important to find someone that you feel comfortable with..someone you trust to treat you with the respect that you deserve. 

General opinion from the Real Estate community is that it is always good to work with a lender who has a local office...one where you can meet face to face with the person who will be facilitating the loan.  This is particularly true if you are a first time home buyer or if you are not comfortable with the basics of home financing.  Online lenders do offer good rates and are a viable option for buyers who have a comfort level with the process and will not need personal guidance through the process. 

One word of caution..there are some "teaser" loans that are still available.  Loans that will have a lower payment up front (adjustable rate mortgages) and the possibility of the payment going up as the interest rate increases over time.  If you do decide to go with one of these loans, make sure that you can make the payments at the highest rate that the loan can escalate to.
This will save you a lot of stress in the long run. 

Good Luck with financing your Fayetteville Home!