Incentives Do Work | GE to Expand in NC | Aviation in Wilmington/Castle Hayne

Wilmington / Castle Hayne NC

In May the New Hanover county commissioners agreed on a 875,000 incentive plan to General Electric Aviation, Castle Hayne site on a planned investment of 63 million dollars. There will be additional jobs added, but the bulk of the investment is to purchase new progressive technology.  Very good news for our area.  The planned investments will include a new manufacturing center in Ashville NC.  The announcements were made at the Paris Air Show this week.  Orders for LEAP, CF34 and GEnx-1B engines were announced as well.  There is a global demand for these engines, prompting GE to invest in the NC plants.

http://www.wilmingtonnc-realestate.com for all your real estate needs

 

Ten Savvy Ways To Pay For A House Today | Wilmington NC real estate

Different buyers have different mortgage needs. Fortunately, lenders today offer many mortgage options to choose from. Chances are you’ll find a mortgage plan that works for you.

Because points, fees and interest rates vary, check with us or your lender for specific information on the type of loan you are considering. The “snapshot” interest rate examples shown here are for illustrative purposes only and may not reflect current rates. For simplicity, all examples here use a $100,000 sales price. Monthly payments are for principal and interest only (taxes, insurance and condo/homeowner fees would increase your payment).

Adjustable-Rate Mortgage.

The interest rate is adjusted up or down periodically based on a financial market index (such as Treasury bills). Monthly payments start lower than for fixed-rate mortgages. The initial rate is set for a specified period — 1, 3, 5, 7, or 10 years — and then rates adjust on a schedule, say, annually. The adjustments generally are limited by annual caps and a life-of-the-loan cap.

Down Payment: $10,000
Mortgage Amount: $90,000
Term of Loan: 30 years
Interest Rate: 7% (until first rate adjustment)
Monthly Payment: $599 (until first rate adjustment)

Fixed-Rate 30-Year Conventional Mortgage.

A fixed-rate conventional loan is made by a commercial lender for 30 years. Monthly payments (excluding taxes) remain unchanged for the life of the loan. Some lenders allow mortgages with as little as 5% down, but require private mortgage insurance for loans with less than 20% down.

Down Payment: $10,000
Mortgage Amount: $90,000
Term of Loan: 30 years
Interest Rate: 8 1/2%
Monthly Payment: $692

Fixed-Rate 15-Year Conventional Mortgage.

This is similar to the 30-year conventional mortgage, except the loan is repaid in half the time. Interest rates are typically lower than for a 30-year loan, and interest paid over the life of the loan is less, but the monthly payments are usually slightly higher. Government-backed loans — VA and FHA — are also available in 15-year terms.

Down Payment: $10,000
Mortgage Amount: $90,000
Term of Loan: 15 years
Interest Rate: 8 1/4%
Monthly Payment: $873

Two-Step Loan.

This 30-year loan is a cross between the ARM and a conventional loan. The mortgage carries a fixed rate for 5, 7 or 10 years and then adjusts to market interest rates once for the remainder of the loan. The initial rate is generally lower than a fixed-rate conventional mortgage, but the second step of the two-step mortgage is often conditional on the lender’s approval.

Down Payment: $10,000
Mortgage Amount: $90,000
Term of Loan: 30 years
Interest Rate: 8 1/8% (for first 2 steps)
Monthly Payment: $668 (until adjustment)

Federal Housing Authority (FHA) Loan.

These are government-insured loans so homeowners can make a smaller down payment than on conventional loans. The limits on FHA loans are high enough to handle moderately priced homes in many parts of the country. FHA loans are assumable for future buyers who qualify.

Down Payment: $10,000
Mortgage Amount: $90,000
Term of Loan: 30 years
Interest Rate: 8 1/4%
Monthly Payment: $676

VA Loan.

These are loans for qualified veterans backed by the Department of Veterans Affairs with low or no down payment required. These mortgages are subject to the VA mortgage funding fee, depending on the size of the down payment. VA loans can be combined with second mortgages and are assumable to qualified buyers.

Down Payment: $10,000
Mortgage Amount: $100,000
Term of Loan: 30 years
Interest Rate: 8 1/4%
Monthly Payment: $751

Seller Financing.

Sellers may take back a loan against their equity in the property in the form of a first or second mortgage. One approach to owner financing is to use a balloon mortgage calculated and repaid for 5 or 7 years as a 30-year mortgage, but then the balance of the loan is due in a lump sum.

Down Payment: $15,000
Mortgage Amount: $85,000
Term of Loan: 5 years
Interest Rate: Negotiable
Monthly Payment: Depends on rate

Assumable Mortgage.

A buyer takes over the existing mortgage — usually FHA, VA or ARM — at its current interest rate, with the concurrence of the lender. An assumption may have a lower rate than those currently available, and taking over the mortgage may save on closing costs. The down payment makes up the difference between the sales price and the balance on the loan.

Down Payment: $30,000
Mortgage Amount: $70,000
Term of Loan: Time remaining on loan
Interest Rate: Same as seller had
Monthly Payment: Same as seller was paying

Wrap-Around Mortgage.

Here a new mortgage incorporates an older, assumable loan to help bridge the gap between the loan balance and home sales price. The interest rate is often below market, but higher than the rate the old mortgage carries. Payments are made to the new lender or the seller, who forwards part of the payment to the first lender. The term of the mortgage is the time remaining on the original loan.

Down Payment: $10,000
Mortgage Amount: $90,000
Term of Loan: Time remaining on original loan
Interest Rate: 9%
Monthly Payment: $724

Buy-Down Mortgage Plan.

The seller or a third party provides additional cash to the lender in exchange for a lower interest rate for the buyer. Approaches vary among permanent buy-downs, multi-year and graduated plans.

Down Payment: $10,000
Mortgage Amount: $90,000
Term of Loan: 30 years
Interest Rate: 6 1/2% (initial)
Monthly Payment: $568 (until subsidy diminishes or expires)

In addition to these loan scenarios, Wilmington NC has USDA 100% financing loans on certain areas in New Hanover, Pender and Brunswick counties.  For a map of  New Hanover County click here.  The areas outside the orange sections are in the USDA loan eligibility zone.  Let us know what area you would like to search for homes in and we will supply you a list of 100% financing USDA homes.

Wilmington Now’s Your Chance | TV Amazing Race Contest Here in Wilmington Nov. 19, 2011

Amazing Race Contest — WILM-TV.

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Amazing Race is coming to Wilmington NC Saturday November 19, 2011 scouting for contestants for its popular show which has won 12 Emmy awards since it has started in 2001.  The auditions are being held by CBS affiliate Channel 10 WILM-TV at Independence Mall in the Sear’s Wing from 10-6 pm.  There are eligibility requirements and releases to be signed before the audition.  WILM-TV will film pairs of contestants giving creative reasons why they should appear on the show.  For full details and forms please visit here…

Have fun and good luck if you try out.

For all your Wilmington NC real estate needs please visit www.cbbaker.com

Search Wilmington NC real estate on your phone

 

Search all Wilmington NC real estate from your phone.  If you are driving by a house and want to know the price, just TEXT 14059 TO 44133 and put in the name of the street and you will get instant information!  To view this listing in Windward Oaks you would TEXT 14056 TO 44133  and you will get information and virtual tour.  Wilmington NC real estate simple and easy for you.  To search Wilmington North Carolina homes online, please visit http://www.cbbaker.com.  To visit our blog please read more here Continue reading

Don’t Burn House Money | Get Energy Check Up Now | Wilmington NC real estate

  1. http://www.yourhome123.com/infocenter.asp?UserID=138856&ArticleID=55&SubjectID=5&HC=CTHC.

wilmington nc real estate

The weather is starting to take on an autumn chill and it is perfect time to look at the “money leaks” in your Wilmington NC home.  There are alot of inexpensive ways to tighten up your home and save you money in energy bills.  Tune up your heating and cooling systems every year.  Take a look at your filters monthly and change them out.  This savings is huge for a $1.29 filter.  Seals on the doors will save you money, for just a little in cost outlay.  The winters in Wilmington NC are milder than other parts of the country, but we still do get temps in the low 30’s.  Look at your home now and make adjustments.  Read More Here….

After you make your adjustments, if you think your home is ready to sell, give us a call.  We would be happy to give you a market analysis and make suggestions on how to stage and market your home.  For all your Wilmington NC real estate needs, visit www.cbbaker.com 24/7.

Need a Deal? Affordable Home Neighborhoods | Wilmington NC Real Estate

Affordable Home Neighborhoods Wilmington NC Real Estate.

Click on any Wilmington NC neighborhood and find a perfect home for your budget. Affordable Wilmington NC real estate – click here.

Wilmington NC real estate

Affordable Wilmington NC real estate

One Stop Shopping.  We are proud to offer you the latest homes listings in Wilmington NC affordable neighborhoods. Kay Baker & Associates have assisted hundreds of first time buyers every step of the way in their quest for the American Dream. And we are proud to assist you as well. From the prequalification process and finding the right loan for you to the intense but exciting home search and through the closing process and long after the movers have gone, we are with you. You will be in the hands of true professionals who are experienced in the entire real estate home buying process from financing to negotiating and who truly care about you, the consumer. Visit our Wilmington NC real estate links page for Attorneys, Home Inspectors, Accountants, Lenders and advice on buying or selling a home in the Wilmington NC area.

Affordable Wrightsville Beach Homes and Cottages | Wilmington NC Real Estate

Wilmington NC Real Estate, Wilmington NC Homes, Wrightsville Beach Homes.

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One of our hidden treasures is Wrightsville Beach in the Wilmington NC area. The breathtaking island of Wrightsville Beach stretches four miles from Masonboro inlet on the south to Mason inlet on the north. The clear waters off Wrightsville Beach often resemble those of the Caribbean. The city limits of the town of Wrightsville Beach today encompass not only the barrier island but also Harbor Island and a small portion of mainland. Most of the early visitors were fishermen and hunters traveling to the Island by boat. Already the history of Wrightsville Beach, NC was being built on an appreciation of nature and Wrightsville’s bounty. You will truly be amazed at the sunrises on the Atlantic and calming sunsets on the Intracoastal Waterway.  The prices have come down on Wilmington NC real estate, and that includes Wrightsville Beach, NC.  The zip code for Wrightsville Beach is 28480, you can search all Wilmington NC real estate on www.cbbaker.com by zip code, neighborhood and price.  Read More here for homes on the beach below $700,000.