North Carolina Mortgage Solutions
North Carolina, the state that boasts being "First in Flight" for being home to the world-famous Wright Brothers, is also known for its amazing landscapes. From the Atlantic ocean to the majestic Appalachian Mountains, there is plenty of beauty to be found here, and plenty of reason to purchase a home in The Tar Heel State. So, if you're thinking about purchasing a home in North Carolina, our team of local home loan specialists is ready to help. Currently, North Carolina's median home listing price of $169,951 is far lower than the U.S. median listing price of $261,500 -- which means it could be a great time to buy a home in the state.
While the average home price in North Carolina is substantially lower than the national median, that doesn't mean that everywhere in the state conforms to that level of affordability. For example, in Cary, the median home value is $320,900, and, in the capital city of Raleigh, the median home listing price is $210,200. In comparison, less expensive North Carolina cities include Charlotte, with a median home listing price of $173,100, and Fayetteville, with a median home listing price of $111,900.
At home.loans, our sole focus is to help educate you about every aspect of the home purchase process. Whether you want to buy a home for the first time, refinance, get a Jumbo or conventional home loan, a USDA or VA loan, a home equity loan, or even buy a home on a short sale, we have the expertise to help you learn everything you need to know about buying a home in North Carolina.
Best North Carolina Mortgage Lender: Fairway Independent Mortgage Corporation
A rapidly growing name in the national home finance industry, Fairway Independent Mortgage Corporation is one of the best options for conventional, FHA, and VA financing across the country. Home buyers will agree that it’s actually pretty easy to find a Fairway location when its time to get a home loan. Beyond that, their customer service is well known to be top notch.
Fairway Independent Mortgage Corporation has stunning reviews from its client base over the years. One thing they seem to excel in is cutting down the closing costs that borrowers are expected to pay at the end of a mortgage transaction, as well as facilitating a faster closing.
Fairway may very well be the best option for first time home buyers on this list. Their attention to detail and completely transparent methodology is perfect for obtaining a mortgage loan at a great rate in a stress-free environment.
Best North Carolina Mortgage Refinance Lender: Primary Residential Mortgage
Primary Residential Mortgage has been making waves in the mortgage industry since 1998. Growing from a small business to a company with 225 branch offices across the nation is no small feat, but the people running PRMI earned it through the admiration of their many clients.
PRMI takes a conscientious approach to mortgage loans and refinancing, always putting the needs of the customer and absolute transparency above all else. Despite their stunning growth since first opening their doors, they still seek to provide customized service that is sure to satisfy the needs of borrowers in even the toughest of financial situations.
Obtaining or refinancing a mortgage through PRMI is a nearly effortless task, and the loan officers make themselves readily available to their clients. Overall, they are a tough lender to beat when it comes to home finance.
Best North Carolina FHA Mortgage Lender: NC FHA Expert
As small of an operation as NC FHA Expert is, they probably have a near infinite love and respect for both what they do, as well as who they do it for. The Couple in charge of NC FHA Expert Are North Carolina Natives who simply want to help people achieve the American dream of homeownership.
Any home buyer, particularly first time home buyers, would be lucky to receive the kind of warm and sincere service that these good folks provide. But don’t let that kindness fool you, they are also incredibly skilled loan officers who would never back down from a challenging situation.
All in all, their ability to work with borrowers in less than great financial situations and still find the best possible FHA mortgage terms is admirable. Clients are pretty much family to them, and they want the absolute best for their family.
Best North Carolina VA Mortgage Lender: Bay Equity Home Loans
Bay Equity Home Loans was founded back in 2007 as a full-service mortgage lender, with an extra emphasis on service. With locations across 32 states, the company is still growing to this day, thanks to their fierce dedication to their trade.
For a family owned and operated company, their popularity among the home buyers in the states that they are located is immense. They are deeply passionate about providing affordable mortgage solutions, with an exceptional focus on FHA loans and VA financing. As a matter of fact, a portion of their proceeds from every FHA or VA loan that they service is donated to the Warrior Foundation-Freedom Station.
The high-quality customer service and drive to secure low rates and comfortable loan terms will no doubt put Bay Equity Home Loans at the very top of the mortgage lender food chain some day. For now, home buyers would be wise to check them out and see why they consistently rake in such killer reviews!
Best North Carolina Home Equity Lender: SunTrust
SunTrust is a huge name in banking, with over 1,200 branches across the country that serve 4.4 million consumer households. SunTrust was the JD Power selection for “Best Home Equity lending Solution” in 2018, which may be extended to 2019 if they continue with their dedication and commitment to customer satisfaction.
Surprisingly, even against competitors who offer both, SunTrust won the recognition from JD Power while only offering home equity lines of credit. Their HELOC product has a 10-year draw period followed by a 20-year amortized repayment period.
HELOC loan options can be for amounts between $10,000 to $500,000. The kicker is that they offer their HELOC with an option of a fixed interest rate or a variable interest rate, unlike the industry standard which is a variable rate for HELOC products.
In terms of eligibility requirements, SunTrust insists that their only goal is to work with whatever financial situation a borrower may be in, and provide an affordable home equity solution. SunTrust HELOCs have a maximum LTV of 89.9%, and according to them: “No closing costs, as long as your account is open for 3 years.”
Shop Around Before You Get a North Carolina Home Loan
Our picks for the best mortgage lenders in North Carolina may not necessarily represent the best lender for your financial situation, goals, and desires. Everyone’s story is unique, and sometimes the best mortgage terms can be found in the most obscure places. Regardless of experience or lack thereof, the best plan of action is to shop around with multiple lenders to find out which one can provide the ideal mortgage solution that comes with the terms and affordability that best suits any particular financial situation.
While looking at reviews can be a huge help, getting a one on one consultation could mean saving thousands. If you’d like some help in locating the best mortgage lender in your area, don't hesitate to contact a home.loans mortgage expert!