New Bern NC Mortgages and Home Financing

Getting a mortgage can be time consuming and occasionally frustrating. An experienced realtor can help you throughout this process and eliminate some of the headaches.

The Bartram Team of CENTURY 21 Action Associates in New Bern North Carolina has worked with every major lender (and most of the minor ones) in North Carolina and nationally, and with every type of loan and financing situation to help our clients buy and sell their property.

What you'll Find on This Page:

Mortgage Education Resources

Mortgage Types

Choosing a Lender

CENTURY 21 Mortgage

I. GETTING EDUCATED ABOUT LOANS

Bob Bartram and the Bartram Team feel that as far as home financing goes, well-informed is well "ARMed" ;-). Therefore, we help educate our clients on financing options and issues we've encountered in real estate transactions, and can recommend reliable resources clients can go to.

FINANCING and LOAN TERMINOLOGY: The loan industry has its own "lingo" that can trip you up if you aren't familiar with it. For definitions of various "loan jargon" terms, click here.

CREDIT RATING: When a mortgage lender goes to pre-qualify you, they will check you credit rating to determine what programs you might qualify for.

DON'T GO ON A SHOPPING SPREE WHILE HOME BUYING: Each credit check that is run will slightly lower your credit score, so don't shop too many lenders. And don't buy anything on credit (a car, boat, furniture, etc.) or run up your credit cards while you are home shopping as this will negatively affect your score.

ORDER A FREE CREDIT REPORT: Under the federal Fair Credit Reporting Act (FCRA), each of the nationwide consumer reporting companies – Equifax, Experian, and TransUnion – are required to provide you with a free copy of your credit report, at your request, once every 12 months.

A credit report includes information on where you live, how you pay your bills, and whether you’ve been sued, arrested, or filed for bankruptcy. Nationwide consumer reporting companies sell the information in your report to creditors, insurers, employers, and other businesses that use it to evaluate your applications for credit, insurance, employment, or renting a home.

Every American can now check his or her own credit report for free once a year on this US Government-sponsored site: www.AnnualCreditReport.com

(IMPORTANT: Do NOT confuse this official web site with the one advertised on TV with those funny jingles. www.AnnualCreditReport.com is the only officially sanctioned site and requires no fee from you.)

ARTICLES ABOUT LOANS and FINANCING:

DailyInterest.com Tips and Advice about Home Loans - very easy-to-read and understand articles from a loan industry insider.
- Pre-Approval vs. Pre-Qualifying: Know the Difference
- What factors affect your Mortgage Rate?
- What is an Example of a Good Faith Estimate and
  What Should be on/not on a Complete Good Faith Estimate?
- Escrows = Higher Closing Costs
- Checklist of Questions to Ask a Lender to Get an Accurate Mortgage Quote- This is an excellent article and a must-read to have in hand before shopping around for mortgages.

BOB'S TIP: We advise home buyers getting their first home loan or who haven't done this in a while to click on this link to read About.com's Issues and Advice about LOANS for 1st Time Buyers.

II. VARYING TYPES OF MORTGAGES

We have worked with clients on every kind of loan, from conventional loans to specialized loans for first time home buyers, mobile homes, refinancing loans, home equity loans and even reverse mortgages.

Whether it's an FHA loan for first time buyers, VA loan for military personnel, reverse mortgage, combination loan, or another type- The Bartram Team has seen them all, and can work with you on any financing combination you need to get you in your new home or property.

Types of Mortgages: Read the following to learn about types of mortgage loans and what they mean.

Mortgage Information Service's Mortgage Loans Page- Describes most major mortgage loan types, including FHA, VA, Rural Housing Service (RHS), conforming loans, and more

DailyInterest's Mortgage Types Page: From Fixed Rate, to Adjustable (ARM), Interest Only, Balloon, Reverse Mortgages and more. Also, learn what a Bridge Loan is.

Mortgage Calculators: Determining what you can afford under different scenarios is an important part of the process. Here are some links to various Mortgage Calculators.

Bankrate.com- Probably the best known of the independent sites, this site shows credit card rates and more, plus has some great mortgage calculators and other calculators from retirement and home equity to auto loans, savings, tax, creit card, investment calculators, and more.

Mortgage-Calc: A good site with all financial calculators, from mortgage calculators, amortization, and refinancing calculators to debt consolidation calculators and more. They also have a useful calculator to allow you to compare 3 different loans.

Mortgage-X Calculators: Includes standard calculators, ARM calculators, plus one to determine if extra payments would be beneficial.

III. CHOOSING A MORTGAGE LENDER

Like choosing a realtor, choosing the right mortgage lender can make all the difference. Not only are competitive rates and different options that can fit varying buyer needs extremely important, but equally important is being efficient and reliable in preparing your mortgage and seeing that all the details are done correctly and on time so that your property closes when it's supposed to. We've seen too many closings in jeopardy due to sloppy processing by banks and loan processors.

The Bartram Team can help you navigate this often frustrating process of choosing and overseeing the loan preparation so that you get to closing when you're supposed to- with your sanity intact!

We can help connect you with the most efficient and easy-to-work with lenders in the area or work with your lender, following up on the details to make sure your paperwork arrives correct and on time.

IV. CENTURY 21 MORTGAGE

In addition to other fine lenders, we often work with our own very competitive and efficient mortgage team from CENTURY 21 Mortgage, with which many clients have been extremely satisfied.

Contact Rob Peterson, our CENTURY 21 Senior Mortgage Advisor for New Bern, for your "no obligation" consultation on pre-qualifying for a loan via CENTURY 21 Mortgage.

Click here to contact Rob Peterson via email or
call Rob directly 9am-5pm M-F at (252) 531-3727 for immediate assistance.

You may also call our CENTURY 21 Action Team's exclusive Toll-free National CENTURY 21 Mortgage Line anytime at +1-877-340-3596, including evenings and weekends. You can apply for a mortgage over the phone in about 20 minutes!

Click here to read more about CENTURY 21 Mortgage, apply for a mortgage online, learn about 1st time buyers' programs, and crunch your own numbers with our mortgage calculators.