Realtor vs. For Sale by Owner [INFOGRAPHIC]

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How to Get a Mortgage for a Rental Property Looking for rental property mortgage rates near you? If so, First Bank can provide you with tips and tricks on how to get a rental property mortgage, as well as how to find the best mortgage rates near you. Rental Property Tips: How to Get a Mortgage According to Money Under 30: “Getting a mortgage for an investment property can be headache. Your best bet is to be prepared before you even start down that path. Make sure you have enough cash reserves to make your lender happy, as well an impressive credit score.” How Can You Prepare? Know the lending limits — For example, Fannie Mae currently allows each investor to carry 10 loans at once. Look for investor-friendly lenders — Having a good relationship with your lender could be the key to success. Know your credit requirements — There are two different credit-qualification guidelines for getting rental property loans. Prepare your cash reserves — Lenders typically require you to have six months of cash reserves available per property. Be prepared to make a down payment — There are sets of guidelines regarding rental properties that you must follow when making a down payments. Show your W-2 income — Lenders typically require that you show a minimum of two solid years of W-2 income. Traditional Mortgage vs. Rental Property Mortgage If you are looking for a rental property mortgage, expect to find rates that are slightly higher than primary residence mortgages. Lenders are trusting that you will be able to rent the property to tenants and that they will be able to make their payments on time to you. Don’t be surprised to see mortgage rates for rental properties fluctuate more than primary residence mortgage rates from one lender to the next. Some lenders are more trusting in rental properties than others and may want to see that you have enough money to pay for both your primary residence mortgage and the rental property mortgage at the same time. This is a safety net for the bank in case your rental property fails to attract any renters or those renters fail to pay the rent. Mortgage rates can vary from one lender to the next but there are also some key differences in the mortgage itself when compared to 3 min read

A Prime Time for Meridian Meridian creates custom interactive kiosks for some of the largest brands in the world. You may think that a company like this would be in Silicon Valley, but you'd be wrong. Gilder and his team are actually housed in Aberdeen, North Carolina. 3 min read

Customer being shown flowers by an employee in a greenhouse

Give Customers an Experience, See Retail Sales Grow Customers crave an experience, a sense of belonging, exceptional customer service, and brands that are in step with their passions, politics, and lifestyle. It’s what retail and marketing experts call “experiential retail.” 7 min read

Southern Supreme Fruitcakes & More – Garage Startup to Global Distributer "I don't like Fruitcake" Not a fan of fruitcake? Neither was Berta Lou Scott until she perfected her version in the 1980s. Her Southern Supreme Fruitcakes have been converting fruitcake foes to fans ever since. Visit the Southern Supreme Fruitcake Online Store A Sweet Success Story Berta Lou Scott’s fruitcake started as Christmas gifts for her friends, family, and clients in their hometown of Bear Creek, NC. Mrs. Scott’s baked goods were always sought after throughout the holidays, but her fruitcake especially garnered attention for its ability to change the minds of those who claim to not like fruitcake. As demand for her fruitcakes increased Mrs. Scott’s late husband, Hoyt Scott, took out a small business loan to increase their production capacity. The Scott family tells their First Bank story like this: “It all started around 1989 when our father/father-in-law “Hoyt Scott” wanted to take out a small business loan. At that time Mr. Jimmie Garner was who we went to see. The story that Hoyt liked to tell was, “I didn’t know who the bigger fool was: the man who wanted to borrow the money to start a Fruitcake business or the man who would loan him the money.” That is what started our relationship with First Bank.” As it turns out they weren’t fools after all. Jimmie Garner went on to become the CEO of First Bank and Hoyt Scott (along with his family) grew Southern Supreme Fruitcakes from their garage to a 40,000 square foot manufacturing, distribution and retail operation where they attract thousands of tourists each year and ship their products globally. Play Not your typical Fruitcake Two big differences set Berta Lou Scott’s fruitcake apart from the rest. Her recipe favors nuts over candied fruit, and her method of slow baking and stirring the dough as it bakes keeps the cakes from becoming dry. In fact, Southern Supreme Fruitcakes will stay fresh and moist without refrigeration for 6 months to a year. This unique baking method has posed a unique set of challenges that the Scott Family has overcome with hard work and ingenuity – something that is on display throughout their manufacturing facility. Thousands of guests tour their kitchen yearly to get a first-hand view of the one-of-a-kind operation which involves a rotating oven that allows trays of dough to move from baking to hand-stirring every 15 minutes until complete. Teams of seasonal workers begin fruitcake production in August and at the height of the Christmas ordering season, they will slowly bake and stir over 3,000 pounds of fruitcake per day. Watch this video to see their kitchen in action > 4 min read

Realtor vs. For Sale by Owner [INFOGRAPHIC]

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