Homeside Financial - February 2020

NMLS #111660

February 2020

1051 13th St. SE, Hickory, NC 28602 • 828.229.7877 •

The One-Stop Shop


N ot too long ago, I was speaking with a former client who was looking at working with us again to buy an investment property to rent out. Through the course of the conversation, I learned that between the time he had bought his home and then, he had refinanced his house through another lender. I asked himwhy he hadn’t come to us to refinance his home, and he gave me a confused look. He didn’t know we refinanced homes. It turned out he had received some solicitations about refinancing that looked like they were coming from us but were actually coming from a different lender. After he checked out some of their interest rates, he went ahead and refinanced his home

While many of you probably know what the process of refinancing your mortgage is, for those of you who might be a little bit fuzzy on the subject, refinancing is the process of replacing your existing loan with a new one. Some people do this to lower their monthly payment, to reduce the length of their loan, to lower their interest rate, or for a number of other reasons. At my office, we can offer our clients several different refinancing options, including cash- out refinancing and rate and term, among others. While refinancing can be a good option for some homeowners, it’s not the right move for everyone. Depending on howmany years you are into paying off your mortgage, the costs of refinancing might outweigh the benefits. In fact, I probably talk more people out of refinancing

“If you have any questions, or you think that refinancing your home could be beneficial for you, talk to us first. We’ll give you the honest assessment that you deserve.”

about the pros and cons of refinancing in your particular situation. We can be your one-stop shop for all your home financing needs whether you’re a first-time homebuyer or a seasoned homeowner. If you have any questions, or you think refinancing your home could be beneficial for you, talk to us first. We’ll give you the honest assessment you deserve.

through them. He was incredibly apologetic after he told me. He said if he had known Homeside Financial refinanced homes, he would have come to us to refinance instead. I told him it wasn’t his fault. After all, it’s our job to let our clients know about the full extent of services we offer. It’s become apparent recently that many of our current and former clients thought we only financed first-time homebuyers and new construction projects even though that’s not the case.

than I do into it. At the same time, a lot of lenders out there take advantage of homeowners who don’t fully understand the refinancing process by promising them lower interest rates but tacking on outrageously expensive fees. If you’ve worked with Homeside before, you know we’ll always take the time to give you the information you need to finance your first home. Know that if you’re thinking about refinancing your home, you can trust us to give you straight answers

-Jamie Harrington



Mortgage Made Easy!

Meet Conan The Dog Who Helped Take Down al-Baghdadi

On Oct. 28 last year, President Donald Trump tweeted a photo that quickly went viral. It showed an adorable snapshot of a bright-eyed Belgian Malinois, tongue lolling, still wearing its camo military vest. In the caption, President Trump explained that the pup, Conan, was a national hero who was instrumental in taking down ISIS leader Abu Bakr al-Baghdadi. With four years in special operations forces and roughly 50 missions under his collar, Conan was selected to be part of the team that pursued al- Baghdadi through a network of underground tunnels in northwest Syria, where the terrorist ultimately died. It’s unclear whether Conan was there to track al-Baghdadi or to spot improvised explosive devices that may have been planted on the route, but either way, he performed well. According to NBC News, Conan was injured by some live electrical cables during the mission, but he recovered quickly and was back on duty within the week. Meanwhile, President Trump invited the brave pup to theWhite House and tweeted out a doctored photo that showed him awarding Conan a Medal of Honor.

President Trump captioned the photo “AMERICAN HERO!” and he’s not alone in his appreciation for the hardworking dogs that have been helping our military sinceWorldWar II.

“To me, they’re the first line of defense,”United States War Dogs Association President Ron Aiello told Vox after the news about Conan came out. “They’re such a great asset to our military today.” Military dogs are put up for adoption after 6–8 years in the service, which means a lucky civilian could take Conan in as early as 2022! Meanwhile, dozens of other smart canine heroes are looking for homes. To learn more

about military and other working dog adoptions, visit

What Is a Construction-to-Permanent Loan? And Should I Get One Before Building My New Home?

Sometimes, you just can’t find your dream home already built and on the market. However, that doesn’t mean it won’t ever be a reality. Today, homeowners can finance both the construction of their dream home and their mortgage through one loan, called a construction-to-permanent loan (C-to-P). Also known as single-close loans, C-to-P loans help build 100,000 new homes annually, and in a housing market where the construction industry can barely keep up with the demand for housing nationwide, they’re becoming a more valuable tool than ever. Without a C-to-P loan, financing the construction of your home would be a lot harder. You would first have to take out a construction loan, which works almost like a line of credit. Interest is only charged on the money spent on the construction of the home. Once construction is done and judged to have been built in compliance with local ordinances, you have to take out a separate mortgage using the completed home as collateral.

Two separate loans can lead to some potentially precarious situations for homebuyers and homeowners. If the market changes during construction, it could be harder to qualify for a mortgage on the completed home. C-to-P loans eliminate that possibility by bundling the construction loan and mortgage loan into one. That’s not to say that C-to-P loans don’t come without risks along with greater convenience. Because of those risks, interest rates on C-to-P loans tend to be higher than your average mortgage, and many lenders will expect a down payment of at least 20%. That’s why if you’re trying to build your dream home, you should come to Homeside Financial. We have a wider array of C-to-P products than any other lender in the area, and we can help you find one that works for you. Even if you don’t think you have enough for the down payment, or you don’t have a top-tier credit score, we can help you find the right C-to-P loan to buy the land and build your next home. For more information on how we can help, call 828.229.7877.


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Like the Olympics and presidential elections, leap years only occur once every four years, which is why many people look forward to Feb. 29. But there’s a lot that you might not know about this quirk on the calendar. Why To keep the calendar in sync with Earth’s orbit around the sun, an extra day is added to it every four years. Earth takes exactly 365 days, 5 hours, 48 minutes, and 46 seconds to orbit the sun. Those extra hours add up over time, so another calendar day becomes necessary. But a leap year doesn’t occur every four years. Adding that extra day still doesn’t quite keep Earth on track, so the calendar skips leap years that occur during century years not divisible by 400. For example, 2000 was a leap year, but 2100 won’t be. Who The odds of being born on Feb. 29 are 1 in 1,461. That means that of the roughly seven billion people in the world, only about five million of them are “leaplings.”The number of leaplings currently living in the U.S. is roughly 187,000. Some famous leaplings include motivational speaker Tony Robbins, rapper Ja Rule, and singer Mark Foster of Foster the People. However, the most famous leapling is probably Superman. When you invent a super-being, you might as well give him a super-birthday. Where Anthony, Texas/New Mexico (a single town that straddles the two states’ borders), claims the title “Leap Year Capital of the World.”The city throws one massive birthday party for all leaplings but invites everyone to join the celebration. Two leapling neighbors from Anthony began the tradition in 1988, and it’s blossomed into a festival with thousands of participants every four years. It includes banquets, hot air balloons, a carnival, concerts, parades, and more. When you have four years to plan in between each shindig, there’s time to go big. Celebrate this leap year by doing something unusual or new. It’s a special day that doesn’t occur often, so make the most of it by doing something you’ll talk about for another four years.

“I have worked for the state of North Carolina for over 22 years. My career has given me the stability to raise a family and enjoy some of the good things in life. But as a divorced mother of two, owning a house was one thing I always wished for. I sacrificed for six years renting and waiting for the perfect time and perfect people to help me find a house of my own. “On Nov. 11, 2019, I found those perfect people at Homeside. Jamie Harrington saw the potential and sheer drive I had in making this goal a

reality. She saw me as a person who deserved a chance. On Nov. 21, 2019, I had a contract on a house I was absolutely in love with. Jamie and her team were full speed ahead getting the necessary inspections, appraisals, and paperwork completed, signed, and ready for closing. “I closed on my home on Jan. 7, 2020. I was a homeowner ... finally. Some people might think of buying a home as a thing we all do, but it’s not always easy. Homeside and Jamie made it easy. They gave me a chance, a home, and my dream. I will never forget the kindness they showed me. Jamie, Michelle, Erin, and Angela, I sincerely thank you.”

–Tabatha B.



Mortgage Made Easy!

1051 13th St . SE Hickory, NC 28602



Are You Thinking About Refinancing?


Meet the Dog Who Helped Take Down al-Baghdadi

What Is a Construction-to- Permanent Loan?


Homes for Heroes

Learn All About Leap Year


Your Epic Adventure Awaits


One of the oldest stories in Western literature is Homer’s “The Odyssey.”This epic poem tells the story of Odysseus and his long journey home after the Trojan War. While Odysseus’ travels were fraught with mythical monsters and magic, many of the places he visited are said to be inspired by real islands in the Mediterranean. Even today, travelers flock to these islands looking for peace, adventure, and epic stories of their own. Sicily, Italy One of the most popular stories in “The Odyssey” is the tale of Odysseus rescuing his crew from Polyphemus, a man-eating Cyclops. It’s said that Polyphemus made his home on what is now modern-day Sicily. Fortunately, there are no Cyclopes in Sicily today; there are only cultural festivals, world- class golf courses, and delicious food.

seven years on the mythical island of Ogygia, home of the nymph Calypso. Historians suspect that Ogygia was Gaudos, now modern-day Gozo, Malta. Gozo is home to the Ġgantija temples, which are older than the Egyptian pyramids. In addition to exploring its archaeological marvels, Gozo’s visitors can also enjoy snorkeling, horseback riding, and other memorable adventures. Ithaca, Greece If you want to chart your own odyssey, make your final stop Odysseus’ home, the island of Ithaca. Covered in lush greenery and quaint villages, Ithaca is a wonderful place to relax at the end of your trip. Visitors can enjoy their morning coffee by a seaside cafe before lounging on a secluded beach for the rest of the day. It’s no wonder why Odysseus fought so hard to get back to Ithaca! With dozens of other islands to explore, the Mediterranean is the perfect place to plan your own odyssey —minus the mythical monsters, of course.

Gozo, Malta

While Odysseus’ journey was perilous, he did enjoy one peaceful stop. Odysseus spent


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