About Our Programs

At Horizon of NC, we offer a range of programs created to fit the needs of all people, lifestyles, needs, and budgets. We want to match you with the most compatible lender and program. We are an equal housing lender, helping to choose the "right" loan for YOU. 
Our programs include, but are not limited to:
1% Down Payment Conventional Loan
Home Ready
Home Possible
Flex Terms from 8-30 Years

USDA-Rural Housing
FHA Loans
Community Loans
Fixed Rates
Variable Rates
Jumbo Loans
VA Loans
No PMI Loans
Second/Vacation Homes
Investment/Rental Properties
Self-Employed
Modular Homes
Double Wides
Ask us about our USDA-Rural Housing program today!

Adjustable Rate Mortgages

These loans generally begin with an interest rate that is 1-2 percent below a comparable fixed rate mortgage, and could allow you to buy a more expensive home.
However, the interest rate changes at specified intervals (for example, every year) depending on changing market conditions; if interest rates go up, your monthly mortgage payment will go up, too. However, if rates go down, your mortgage payment will drop also.

Balloon Mortgages

Balloon loans are short-term mortgages that have some features of a fixed rate mortgage. The loans provide a level payment feature during the term of the loan, but as opposed to the 30 year fixed rate mortgage, balloon loans do not fully amortize over the original term. Balloon loans can have many types of maturities, but most balloons that are first mortgages have a term of 5 to 7 years.

Buydown Options

The most common buydown is the 2-1 buydown. In the past, for a buyer to secure a 2-1 buydown they would pay 3 points above current market points in order to pay a below market interest rate during the first two years of the loan. At the end of the two years they would then pay the old market rate for the remaining term.

Fixed Rate Mortgages

Fixed Rate Mortgages are the most common type of mortgage program where your monthly payments for interest and principal never change. Property taxes and homeowners insurance may increase, but generally your monthly payments will be very stable.
Fixed-rate mortgages are available for 30 years, 20 years, 15 years and even 10 years. There are also "bi-weekly" mortgages, which shorten the loan by calling for half the monthly payment every two weeks. (Since there are 52 weeks in a year, you make 26 payments, or 13 "months" worth, every year.)

Refinancing: How & Why?

Things to Consider:

As Rates Reduce: When rates fall steadily, refinancing may make sense even if you have done so once already.
Build Home Equity Quickly: Many borrowers use a refinance to shorten the term of the mortgage. And brace yourself: Even at low rates, a shorter term means a higher monthly payment. The benefit is that you'll build up equity faster and pay far less in total interest over the life of the loan.

Cash Out: Many borrowers refinance to shorten the term of the mortgage. And brace yourself: even at low rates, a shorter term means a higher monthly payment. Benefits include building up equity faster and paying far less in total interest over the life of the loan.

Analyze Your Savings: Check the market closely to determine the available rates and the costs associated with refinancing. These costs can include items such as an appraisal and other various fees and points. Then determine what your new payment would be if you refinanced.

The Cost of Refinancing: When you refinance your home, you usually pay off your original mortgage and sign a new loan. With a new loan, you pay most of the same costs you paid to get your original mortgage. These can include settlement costs, discount points and other fees. You also may be charged a penalty for paying off your original loan early, although some states prohibit this.

Ask us today if refinancing is a good option for you! Also, find out how long it will take to recover the costs of refinancing.  Call and speak with one of our loan officers today - 336.361.4131.

Reverse Mortgage

A reverse mortgage is a special type of loan made to older homeowners to enable them to convert the equity in their home to cash to finance living expenses, home improvements, in-home health care or other needs.

With a reverse mortgage, the payment stream is "reversed." That is, payments are made by the lender to the borrower, rather than monthly repayments by the borrower to the lender, as occurs with a regular home purchase mortgage.

A reverse mortgage is a sophisticated financial planning tool that enables seniors to stay in their home -- or "age in place" -- and maintain or improve their standard of living without taking on a monthly mortgage payment. The process of obtaining a reverse mortgage involves a number of different steps.

The first, most widely available reverse mortgage in the United States was the federally-insured Home Equity Conversion Mortgage (HECM), which was authorized in 1987.

A reverse mortgage is different from a home equity loan or line of credit, which many banks and thrifts offer. With a home equity loan or line of credit, an applicant must meet certain income and credit requirements, begin monthly repayments immediately, and the home can have an existing first mortgage on it. In addition, there is no restriction on the age of borrowers.

In general, reverse mortgages are limited to borrowers 62 years or older who own their home free and clear of debt or nearly so, and the home is free of tax liens.

Standard ARM Programs

ARMs with different indexes are available for both purchases and refinances. Choosing an ARM with an index that reacts quickly lets you take full advantage of falling interest rates. An index that lags behind the market lets you take advantage of lower rates after market rates have started to adjust upward.

The interest rate and monthly payment can change based on adjustments to the index rate.
Ask us about:
6-Month Certificate of Deposit (CD) ARM
1-Year Treasury Spot ARM
6-Month Treasury Average ARM
12-Month Treasury Average ARM