What factors affect your mortgage rate?

What factors can affect your mortgage rate when applying for a loan?

-Loan program – VA, FHA, USDA, Conventional

-Amount of loan – when loan amounts approach $100,000 and under, the interest rate may be a little higher

-Length of loan – 15 or 30 years

-Fixed or adjustable rate

-Credit score

-Length of lock period

-Type of ownership – primary, secondary, investment

-Purchase or Refinance

Contact me today for more information!

Danielle Hifko

New American Mortgage

91-581-6398

Run For A Reason

It is always a pleasure to work with people/companies that care and give back to the community and help fight for causes!

Join the run and have an opportunity to win and have $5,000 donated to the Camp Lejeune Fisher House in your name, courtesy of American Homesmith Builders.

If you are interested in running for a reason visit Run for a Reason and join in on Nov. 5th, 8am at the Jacksonville Commons Middle School!

VA Funding Fee Change

As of November 18^th, 2011 the VA funding fee will be changing.  For first time use, the rate will decrease to 1.40% from 2.15%.  For second or subsequent use, the rate will decrease to 2.80% from 3.30%.  These rates are based on less than 5% downpayment.  The fee decreases if more money is put down. 

Also a reminder that if you receive at least 10% VA disability, VA will waive the entire funding fee!

Contact me today for more information on the funding fee changes!

Danielle Hifko

New American Mortgage

910-581-6398

Halloween Happenings!

This year we are doing things a bit different at Southwest Plantation. The 1st Annual 9-hole Boo Ball Scramble will take place on Saturday, October 29th at 4 pm. Prizes will be awarded to teams with costumes. Cost is ONLY your cart fees. If you are planning to put a team together be sure to RSVP by Thursday, October 27th at the Pro Shop (910)346-8160!

Following the Boo Ball Scramble the Halloween Party will start at 7:30 pm until Midnight at the Pool House. Prizes will go to the 3 BEST costumes of the night!

So come out and join us for ghoulish food, frightening treats & scary music!

*Open to all Homeowners & members at Southwest Plantation, Home of Bear Trail Golf Club

What is the NCHFA?

North Carolina Housing Finance Agency

What is the NCHFA?  - Their mission is to create affordable housing opportunities in North Carolina.

They have different programs available, including annual tax credits and down-payment assistance of up to $8,000!

Of course, with a program that helps people get into homes, there are also extra guidelines – income limits and sales price limits!  These are determined by the county you are looking to purchase in.  You must also use a lender approved by NCHFA.

For more information, visit www.nchfa.com or contact me today!

Danielle Hifko

New American Mortgage

910-581-6398

Credit Do's & Dont's

When purchasing or refinancing a home, good credit is CRITICAL to get the best offer.  Answer me this – What do you do to protect your credit when you are getting a mortgage? How do you make sure your scores don’t decrease?

Let me help you…

Make sure you:

1. Stay current on all accounts – one late payment can drastically hurt you!

2. Continue using your credit as normal

3. Call your mortgage consultant before doing ANYTHING with your credit!

Biggest Oopsies!        

1. DO NOT apply for new credit (no co-signing either!)

2. Don’t pay off old collections or charge offs

3. Don’t close any credit card accounts

4. Don’t max out or over charge accounts – try to keep your balance under 30% of your limit!

5. Don’t consolidate your debt – this may raise your ratio on that card