2020 Hillandale Rd. Durham, NC 27705

We mainly look at your household income & your down payment. We reserve the right to pull and review credit but it is not the most important factor, and having a credit score is not a requirement. We want to see that you have enough household income to comfortably afford the home.

Yes, it is your home! You can make any improvements or modifications to the home as you see fit.

Most loans are typically ‘escrowed’, meaning, you’ll pay a part of your homeowners insurance & taxes each month with your mortgage payment. As a result, you won’t have a big tax or insurance bill due at the end of the year.

Your monthly payment is made up of 5 items typically: Principal, Interest, Taxes, Insurance, Servicing Fee. The principal & interest portion will never change. Taxes may change if the city or county changes the tax rate over the years. Insurance may change from year to year as the home gets older or you make updates to it (such as new roof, etc.). Insurance is the biggest variable typically and you are able to shop around for the best price and change policies at any time. The Servicing Fee will is subject to change if the servicing company changes their fees.

Generally speaking, we are providing a pathway to homeownership to home buyers that wouldn’t otherwise have one. We always tell prospective clients that if they can get a bank loan, that is going to be their least expensive option. However, because we take on some risks with this type of transaction, we will typically charge a moderate premium on the mortgage interest rate as well as the sales price of the home (versus if you were paying cash for the property we are selling).

If you feel you cannot comfortably afford the monthly payments, this is not a good option for you.

The most important thing is communication. Even if you are late or have a missed payment, it is best for you to reach out to us or the loan servicing company as soon as possible to discuss any potential options. We will often try to work with you so you can stay in and keep the home. As a last result, we reserve the right to foreclose on the property, but this is only after all other options are exhausted.