A buyer received estimates from three lending institutions side by side through Rolly. They found that the differences in the structure of the programs themselves were greater than the differences in interest rates.

As of July 31, Zillow reported the average home value in Rolly at $435,237, down 2.0% from the previous year, while Redfin recorded a median sale price of $425,000 over the three months leading up to June. Analysts predict a 3-5% increase in Wake County through the second half of the year, thanks to a job market based on research facilities and the tech industry.

In this price range, there is still room compared to the FHFA's 2026 core loan limit of $832,750. North Carolina has no counties designated as high-cost areas, so Wake County follows the national standards. Therefore, all three lenders presented conventional loans as the default option, showing significant differences in rates for buyers with credit scores above 680.

However, one lender also provided information on VA loans. Fort Liberty in Fayetteville is about an hour's drive from Rolly, making it not uncommon for families where one spouse works in Wake County while the other is stationed at Fort Liberty to settle in Wake County. If eligible, they can proceed without a down payment, making it a viable option for comparison.

FHA loans were also considered as a third option. With a credit score of 580 or higher, buyers can start with a 3.5% down payment, but if the down payment is less than 10%, the mortgage insurance premium will remain throughout the loan term, which is clearly different from the PMI cancellation structure of conventional loans. Ultimately, the advantages and disadvantages of the three programs varied based on credit score, initial funds, and military service status.

When comparing estimates from the three lenders, key items to watch include interest rates by credit score range, closing costs, and the insurance premium structure for each program. This buyer, with a credit score over 700, was able to secure the lowest rate on a conventional loan, but they had to prepare a down payment of over 20% to proceed without PMI.

Closing costs are generally reported to be around 2-5% of the loan amount, but the estimates provided by the three lenders varied slightly in terms of appraisal fees and processing fees. In a competitive market like Wake County, there is less room for negotiation on these costs with sellers, so it is wise to prepare sufficient cash in advance. I emphasized to this buyer that having a pre-approval letter would also increase their negotiating power during the offer stage.

For families prioritizing school districts, it is advisable to refer to GreatSchools ratings, but since school district boundaries change frequently, I recommend verifying assigned schools before signing a contract. Families moving from out of state should be aware that property tax and insurance structures in North Carolina may differ from their previous residences, so it is prudent to factor this into monthly payment calculations. If relocating from Korea and preparing for initial settlement, it may be realistic to check FHA conditions due to potentially short credit histories.

Rolly has a significant number of families moving from out of state for jobs related to research facilities, so it is also important to check how lenders assess non-traditional income sources like remote work income or stock options when choosing a lender. The methods of income verification can vary slightly between lenders, and I have seen cases where approval speeds differ due to this. Investors considering rental income should note that even though rental demand in Wake County is steady, the down payment requirements are higher than for owner-occupied properties.

Looking at the estimates from the three lenders side by side, it became clear that the structure of the programs has a greater impact on total costs than the interest rates. Comparing credit scores, financial situations, and military service status all in one place is a way to reduce regrets after making an offer. This article does not constitute investment or legal advice, and I recommend consulting with lenders and professionals before finalizing any contracts.