The 2,000-acre development is practically a town unto itself. Within its borders are a 535-acre corporate park, which includes office buildings, a resort hotel, an 18-hole, daily-fee golf course and the Dana Rader School of Golf.
Housing prices in Ballantyne, which is part of Charlotte's Area 5 real estate location, range from $150,000 to well over $1 million with many communities priced between $300,000 - $500,000. Notable subdivisions within Ballantyne include: Allyson Park, Amberleigh, Ballantyne Country Club, Ballantyne Meadows, Bridgehampton, Carlyle, Edinburgh, Highgrove, Kenilworth, Kingsley, Kingston Forest, Lansford, Mitchell Glen, Kensington at Ballantyne, Providence Pointe, Providence West, Southhampton Commons, Stonebriar, Thornhill, Vineyard, Weston Glen and Wynridge Estates.
Finding Ballantyne, North Carolina real estate and homes for sale is easy with the services we offer, and we are experts in the Ballantyne real estate market, builders' reputations, local schools, and other area services. Our main goal is to work for you the homebuyer, safeguarding your interests, negotiating prices, arranging financing, and managing the closing. Whether you are looking for townhomes, condos, luxury homes, or investment properties, let us find you a new home in Ballantyne, North Carolina.
Standing proudly at the intersection of Johnston Road and Ballantyne Commons Parkway, are the four Ballantyne monuments. Each rising over thirty feet tall, the monuments tell the history of Charlotte and its people, and reflect the sense of pride that South Charlotte residents feel for their community. From fine dining, luxury homes and hotels, shopping and amazing nightlife...Ballantyne is the #1 area of Ballantyne that everyone wants a part of.
Showing posts with label Yolanda Hayes- Charlotte. Show all posts
Showing posts with label Yolanda Hayes- Charlotte. Show all posts
Monday, November 2, 2009
Friday, May 29, 2009
How To Select The Right Mortgage for YOU
Well first you must know all the different loans that are available so let's get started:
A mortgage is a long-term loan that uses real estate as collateral. A mortgage loan is commonly used for buying a home. Mortgage loans are usually fully-amortizing, which means that the monthly principal and interest payment will pay off the loan in the number of payments stipulated on the note. Mortgage loans are also described by the length of time for repayment, such as 15, 30 or 40 years, and whether the interest rate is fixed or adjustable. A mortgage loan where the downpayment is less than 20% usually requires private mortgage insurance (PMI) or government insurance or guarantee.
Most mortgage loans require monthly payments of principal and interest plus additional payments that are set-aside in escrow accounts to pay property taxes, homeowners (hazard) insurance, and any condominium or homeowner association assessments. Monthly mortgage insurance premiums for loans that have private or government mortgage insurance are generally included as part of the regular monthly principal and interest payment.
Although it is rare in these days of tight credit markets, some lenders may still offer "nontraditional" mortgage loans such as interest-only loans, in which case the borrower pays only the accrued interest and none of the payment is used to reduce the principal balance, or loans where the borrower chooses each month whether to make a minimum payment, pay the accrued interest only, or pay the accrued interest and a portion of the principal.
Home buyers who opt for a nontraditional mortgage should be aware that, depending on the terms of the loan, sudden and significant changes can occur in the monthly payment due to changes in the interest rate and/or payment terms. It is the home buyer's obligation to fully understand the terms of their loan.
Homebuyers who can afford the higher monthly payment sometimes prefer a 15-year mortgage to a 30-year mortgage. Interest rates on 15-year mortgages usually are slightly lower than 30-year rates. In addition, a homebuyer financing a home purchase with a 15-year mortgage will repay principal substantially faster and will pay far less total interest over the term of the loan.
Conventional Mortgages A conventional mortgage is one that is not insured or guaranteed by the government. Conventional loans with a downpayment of less than 20% require private mortgage insurance (PMI), which protects the lender if the homeowner defaults on the loan. For more information about conventional loans, please check the Web sites of Fannie Mae and Freddie Mac, the two primary puchasers of conventional loans. Please note that Fannie Mae and Freddie Mac do not lend money to home buyers, rather, these organizations and other investors purchase loans that have been made to home buyers by mortgage lenders.
FHA-Insured Loans The Federal Housing Administration (FHA), which is a part of the US Department of Housing & Urban Development (HUD), operates several low-downpayment mortgage insurance programs that buyers can use to purchase a home. FHA-insured loans generally require the buyer to make a 3.5 percent cash contribution to the downpayment, not including closing costs. FHA-insured loans are available from most of the same lenders who offer conventional loans.
Your lender can provide details about FHA-insured mortgages and the maximum loan amount in your area, or find information on FHA’s loan limits directly from HUD’s Web site.
VA-Guaranteed Loans If you are a veteran of military service, reservist, or on active military duty, you may be able to obtain a loan guaranteed by the Department of Veterans Affairs (VA), which requires little or no downpayment. Get more information about the VA Loan Guaranty program.
Rural Housing Service Loans The Rural Housing Service (RHS), which is a part of the US Department of Agriculture, offers Section 502 Direct and Guaranteed Rural Housing loans to homebuyers located in rural areas. Section 502 Direct loans offer reduced interest rates to lower-income borrowers who qualify, and are arranged directly through local USDA County Agents or through USDA Rural Development state offices.
A limited amount of funding is available for Section 502 Direct loans, so some lenders also offer “Leveraged Loan” programs. Leveraged loans combine a Section 502 Direct loan that carries a low interest rate with a conventional, market-rate loan. The “blended” interest rate on the resulting loan is lower than the current market rate as a result of the combination of the rates on the two loans.
The Section 502 Guaranteed Rural Housing Loans are arranged through participating local lenders and are available to a broader range of borrowers. Find out more about RHS loan programs.
State Housing Finance Agency LoansState Housing Finance Agencies (HFA) provide loans to first-time homebuyers and veterans of military service who have not previously received a loan through an HFA, often at below-market interest rates. Program availability and eligibility requirements vary from state to state. You should check with your state HFA for programs that are currently available. Find a link to your state’s HFA from the National Council of State Housing Agencies' Web site.
Adjustable Rate Mortgages (ARMs)With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. But with an ARM, the interest rate changes periodically, usually in relation to a specific index such as a cost of funds rate or the Treasury bill rate. Payments may go up or down accordingly. Adjustable-rate mortgages (ARMs) are characterized by the time frame for adjustment, such as 1 year, or 3, 5, 7, or 10 years. Hybrid ARMs have grown in popularity because they may offer a favorable fixed rate of interest for a time, such as 3, 5, 7, or 10 years, after which the loan becomes a 1-year ARM.
Lenders generally charge lower initial interest rates for ARMs and Hybrid ARMs than for fixed-rate mortgages. This makes the ARM easier on your pocketbook at first than a fixed-rate mortgage for the same amount. It also means that you might qualify for a larger loan because lenders sometimes make this decision on the basis of your current income and the anticipated monthly payments for the few year or two. Moreover, if interest rates remain steady or move lower, your ARM could be less expensive over a long period than a fixed-rate mortgage.
(information provided by NAHB)
A mortgage is a long-term loan that uses real estate as collateral. A mortgage loan is commonly used for buying a home. Mortgage loans are usually fully-amortizing, which means that the monthly principal and interest payment will pay off the loan in the number of payments stipulated on the note. Mortgage loans are also described by the length of time for repayment, such as 15, 30 or 40 years, and whether the interest rate is fixed or adjustable. A mortgage loan where the downpayment is less than 20% usually requires private mortgage insurance (PMI) or government insurance or guarantee.
Most mortgage loans require monthly payments of principal and interest plus additional payments that are set-aside in escrow accounts to pay property taxes, homeowners (hazard) insurance, and any condominium or homeowner association assessments. Monthly mortgage insurance premiums for loans that have private or government mortgage insurance are generally included as part of the regular monthly principal and interest payment.
Although it is rare in these days of tight credit markets, some lenders may still offer "nontraditional" mortgage loans such as interest-only loans, in which case the borrower pays only the accrued interest and none of the payment is used to reduce the principal balance, or loans where the borrower chooses each month whether to make a minimum payment, pay the accrued interest only, or pay the accrued interest and a portion of the principal.
Home buyers who opt for a nontraditional mortgage should be aware that, depending on the terms of the loan, sudden and significant changes can occur in the monthly payment due to changes in the interest rate and/or payment terms. It is the home buyer's obligation to fully understand the terms of their loan.
Homebuyers who can afford the higher monthly payment sometimes prefer a 15-year mortgage to a 30-year mortgage. Interest rates on 15-year mortgages usually are slightly lower than 30-year rates. In addition, a homebuyer financing a home purchase with a 15-year mortgage will repay principal substantially faster and will pay far less total interest over the term of the loan.
Conventional Mortgages A conventional mortgage is one that is not insured or guaranteed by the government. Conventional loans with a downpayment of less than 20% require private mortgage insurance (PMI), which protects the lender if the homeowner defaults on the loan. For more information about conventional loans, please check the Web sites of Fannie Mae and Freddie Mac, the two primary puchasers of conventional loans. Please note that Fannie Mae and Freddie Mac do not lend money to home buyers, rather, these organizations and other investors purchase loans that have been made to home buyers by mortgage lenders.
FHA-Insured Loans The Federal Housing Administration (FHA), which is a part of the US Department of Housing & Urban Development (HUD), operates several low-downpayment mortgage insurance programs that buyers can use to purchase a home. FHA-insured loans generally require the buyer to make a 3.5 percent cash contribution to the downpayment, not including closing costs. FHA-insured loans are available from most of the same lenders who offer conventional loans.
Your lender can provide details about FHA-insured mortgages and the maximum loan amount in your area, or find information on FHA’s loan limits directly from HUD’s Web site.
VA-Guaranteed Loans If you are a veteran of military service, reservist, or on active military duty, you may be able to obtain a loan guaranteed by the Department of Veterans Affairs (VA), which requires little or no downpayment. Get more information about the VA Loan Guaranty program.
Rural Housing Service Loans The Rural Housing Service (RHS), which is a part of the US Department of Agriculture, offers Section 502 Direct and Guaranteed Rural Housing loans to homebuyers located in rural areas. Section 502 Direct loans offer reduced interest rates to lower-income borrowers who qualify, and are arranged directly through local USDA County Agents or through USDA Rural Development state offices.
A limited amount of funding is available for Section 502 Direct loans, so some lenders also offer “Leveraged Loan” programs. Leveraged loans combine a Section 502 Direct loan that carries a low interest rate with a conventional, market-rate loan. The “blended” interest rate on the resulting loan is lower than the current market rate as a result of the combination of the rates on the two loans.
The Section 502 Guaranteed Rural Housing Loans are arranged through participating local lenders and are available to a broader range of borrowers. Find out more about RHS loan programs.
State Housing Finance Agency LoansState Housing Finance Agencies (HFA) provide loans to first-time homebuyers and veterans of military service who have not previously received a loan through an HFA, often at below-market interest rates. Program availability and eligibility requirements vary from state to state. You should check with your state HFA for programs that are currently available. Find a link to your state’s HFA from the National Council of State Housing Agencies' Web site.
Adjustable Rate Mortgages (ARMs)With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. But with an ARM, the interest rate changes periodically, usually in relation to a specific index such as a cost of funds rate or the Treasury bill rate. Payments may go up or down accordingly. Adjustable-rate mortgages (ARMs) are characterized by the time frame for adjustment, such as 1 year, or 3, 5, 7, or 10 years. Hybrid ARMs have grown in popularity because they may offer a favorable fixed rate of interest for a time, such as 3, 5, 7, or 10 years, after which the loan becomes a 1-year ARM.
Lenders generally charge lower initial interest rates for ARMs and Hybrid ARMs than for fixed-rate mortgages. This makes the ARM easier on your pocketbook at first than a fixed-rate mortgage for the same amount. It also means that you might qualify for a larger loan because lenders sometimes make this decision on the basis of your current income and the anticipated monthly payments for the few year or two. Moreover, if interest rates remain steady or move lower, your ARM could be less expensive over a long period than a fixed-rate mortgage.
(information provided by NAHB)
Saturday, May 23, 2009
Saturday Morning
Good morning everyone!! Well today I'm taking the day off from office work to tend to my personal home so no blogging today about business
I have to cut grass, edge, water and put down some turf builder. I will leave you with a tip
Sellers Real Estate Tip of the Week: In today's market there's a lot of competition for sellers so you want your home to stand out. Curb appeal is very important so make sure all lawn maintenance is taking care of weekly. Trim bushes, keep grass cut, rake leaves, sweep porch, clean windows etc. Also, you want to stay away from over pricing...everyone feel their own home is worth a lot however the harsh reality is: Your home is only worth what someone else is willing to pay for it
Have a great weekend!! Contact me for your Charlotte real estate needs
www.greatercharlottefineliving.com
I have to cut grass, edge, water and put down some turf builder. I will leave you with a tip
Sellers Real Estate Tip of the Week: In today's market there's a lot of competition for sellers so you want your home to stand out. Curb appeal is very important so make sure all lawn maintenance is taking care of weekly. Trim bushes, keep grass cut, rake leaves, sweep porch, clean windows etc. Also, you want to stay away from over pricing...everyone feel their own home is worth a lot however the harsh reality is: Your home is only worth what someone else is willing to pay for it
Have a great weekend!! Contact me for your Charlotte real estate needs
www.greatercharlottefineliving.com
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