CityView Magazine

48 | May/June • 2014 seller only. Who said there's no such thing as a free lunch? Once you've jet-setted around and found a great house, you'll need to figure out how you'll pay for it. Our men and women in uniform prefer applying for a VA loan, and right- fully so. A loan insured by the Veterans Administration has several benefits, including a favorable interest rate and no monthly private mortgage insurance premiums (also known as PMI). However, a common assumption is that larger lenders closely affiliated with the military can only give a VA loan. e simple fact of the matter is that most lenders can of- fer a VA loan. In many instances, consulting local lenders results in a more favorable interest rate and less costs at the closing table, as a local lender does not have the overhead associated with larger banks. Additionally, in this increas- ingly digital world it can be comforting to deal with one person locally, instead of navigating through a Bermuda Triangle of a call center where information is lost with a mysterious and alarming frequency. 937 S. McPherson Church Road, Fayetteville, NC 910.778.2374 | www.yourncmortgage.com Promises Kept R. Bryan Wright RBW NMLS 103880 UHM NMLS 2229 There's a reason why Bryan is TRUSTED by the top professionals in the industry! Bryan has a reputation that consists of EXTREME KNOWLEDGE and FAST TURN TIMES. COMPETITIVE RATES combined with his EFFECTIVE COMMUNICATION system proves that he is yOUR PARTNER every step of the way. With your home selected and your financing secured, it's time to land at the closing table where the money and keys are exchanged. Your real estate agent may have a pre- ferred attorney, however the choice on the attorney to use is ultimately up to the buyer. Law firms, like airplanes, are not created equal. Some are high performance firms that harness today's technology, possess a knowledgeable staff to meet compressed deadlines, boast the experience to lo- cate and address problems as they arise, and always have an attorney attend the closing. To avoid any turbulence at the closing table, if you must bring money to the closing, it should be in the form of certi- fied funds. A standard bank check will not suffice. Secondly, if you are married, there is a strong likelihood your spouse will need to be available to sign a couple of documents, even if he or she is not a responsible party to the loan. With deployment being a way of life in the military, signing closing documents by power of attorney is a routine practice. However, if this document becomes a part of your closing, notify the agent, lender and attorney immediately to avoid a hold pattern, as lenders require recordation of the power of attorney along with the other transfer documents A prudent pilot always has at least an extra 30 minutes of fuel to account for the unknown, and the same should hold true with your home purchase. Your eagerness to disem- bark and begin loading baggage to your new home should be tempered with a stand-by plan, as nothing is more frus- trating than having your fully loaded truck there to pick you up, only to discover a delay in arrival. e best practice is the allow two to four weeks aer the closing before you must move in to your new home. We hope that this information armed you with enough knowledge for you to step to the ramp and make the jump into home ownership on your own terms, and enjoy the stress free ride. CV John Mandulak, Esq. is an associate at Hutchens Law Firm and Susan Benoit, Esq. is partner at Hutchens Law Firm

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