Vernon FosterVFMR-Residential Rentals & Property Management

Management & Rentals

2803 W. Vernon Avenue, Suite D... Offices of VFMR
2803 W. Vernon Ave., Suite D, Kinston NC 28504


If you are considering buying or you have made the decision...


Home Loan Mortgages are CLIMBING! Get Pre-Approved ASAP! IT IS NOT TOO LATE! VFMR will help you shop your best deal!
Is this a good time to buy?
Hmmm.. What to do?
"You bet!
This may be YOUR TIME!

So, how does this work?

>>  Select any of the following <<

"Rent versus Own... What's best for me?"

"Can I qualify for a home loan?"

"How do I find the lowest mortgage loan rate? Ask the folks where you bank?"
Give them a call.
Shop online with Quicken, Rocket or Geico... there are others, so invest a bit of time and research.

"If I find a home online (;; etc.), is it a good idea to use  "Contact the Agent" (the side-bar on all such page listings)?"

VFMR work for me?"

"Can I buy my rental home?"

Should I call the Agent on a Yard (For Sale) sign?

"Is pre-approval (for a Home Loan) a good thing?"

"Are on-line Lenders (Rocket Mortgage; Geico; Quicken Loans) good to use?"

"Can I buy my home with no money down?"

"I filed Chapter 13 (or 7). Will that be a problem my getting bank financing?"

"Likely not."  Vernon
Exception: A VA Loan. If you are a veteran and you have your DD214 as well as Eligibility Letter/Worksheet from the VA, you have the best shot at moving in with very little or even no out-of-pocket.
If you are not a Veteran, you can always ask about any First-Time programs. Frankly, I know of none. But, things do change.

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"You will not know until a Lender looks at your entire history. If your file has been closed for multiple years and, you have acquired and maintained good credit which results in FICO over 685, that may well make a difference!
Again, you won't know until you ask and seek pre-approval.
Do recall, when you made Application for a Lease, you gave
VFMR authorization to obtain your Credit Report and FICO score. Your information and history did get you a Lease, correct?
Well, that does say something, doesn't it!"
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There are good reviews for these online Lenders. Loan Applications appear simple. But, not so sure about obtaining any form of pre-approval... You can ask.
UPDATED: A search with 
Google reveals many online Mortgage Companies as well as Commercial Banks DO OFFER forms of pre-approval. Use the above hyperlink to Google for your own query.
This type of lender typically wants to see an accepted Offer To Purchase.
This would be the one time you would likely have to bird-dog your own history. Angie or Vernon will be glad to take a look at what you put together. Neither are or ever have been "Loan Officers", but have seen enough and "been around" to have a pretty good feel for this type of thing. Just call either and ask whatever.

Something not listed above? Ask
VFMR licensed Real Estate Agents.
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Pre-Approval is BIG MEDICINE! Any Seller (your Landlord or others) has confidence the Buyer (you, the Tenant or others) can successfully meet agreed terms when the written Offer is backed by a Lender's "green light" of pre-approved for a mortgage loan.  A Seller (your Landlord or others) just like you, is not interested in wasting their time on a "lost cause". This isn't to say if you made an offer prior to pre-approval that you would fall short because your Lender said, "Not at this time... maybe in a year or two... ". Without knowing what you can or cannot successfully offer can lead to disappointment.
So, take the time to get pre-approved. Below are the items a Lender will likely need to know and you will be providing... It is not difficult, but you should plan on investing some effort and time to find out.

Stuff you need to start the process
  1. Solid Residential History. You need at least 12 (sometimes 24)-month continuous rental history. Your Landlord(s) will be queried as to your leasing dates and payment history. This needs to be good!
  2. Stable Income. You need at least 24-months on the same job showing income sufficient to make the payment... Figure it at the most allowed which would be your Monthly Family Gross pay (all W-2 and/or 1099 incomes). Then, multiply your grand total by 29% (.29). There's a bit more to it that that, so feel free to ASK VFMR for more info.  There are plenty of mortgage payment calculators on the Internet... Here is a safe/tested link to one...ZILLOW CALCULATOR.   Just plug in your figures and it will tell you how much house (in terms of payment) you most likely can afford.
  3. FICO Score of no less than 620... Do you know your score? When Preferably higher. Higher scores can sometimes result in a lower down-payment and/or lower interest rate. Don't know your score? Get it by going to This is MANDATED by Federal Government and is available to each of us FREE once a year. Accessing this file DOES NOT represent an Inquiry (also called a Hard Hit) against your score.
  4. Hey! This stuff is simple, but does have a bit more to go along with it. VFMR is here to assist you, so ASK VFMR.
  5. Okay! You feel comfortable wiith 1, 2 and 3? "Great!" Your next step...
  6. Ask VFMR if your rental home can be purchased. VFMR represents the Landlord. We will be glad to present your question. But, before we do that, please open & read the North Carolina form WORKING WITH REAL ESTATE AGENTS. This is an explanation of Agency Law in North Carolina. Before VFMR can share your question, we need to know you have reviewed the form and VFMR will need your signed acknowledgement you have reviewed the form. Bring in your copy when your visit is scheduled or VFMR can print a copy when you arrive. Remember, VFMR represents the Landlord (who may be renamed the SELLER, if he/she is inclined to entertain an offer from you, the Tenant, to negotiate a purchase).
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(You ask...) "How can VFMR help me?"

Call (252) 522-2803
Call... You will speak with Angie or Vernon, both of whom are NC licensed Real Estate Brokers. Your questions will be answered and they will guide you through the process.

Select Link to Left!
Select Call or Call (252) 522-2803....
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Email Broker:
or,  Email...  You will receive a REPLY from VFMR's licensed real Estate Brokers. ONLY a licensed Broker can assist you and these folks are VERY GOOD at their profession.
Click the Pic to send an email!

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So, if buying your Rental is not an option, but it's time to start looking!

"VFMR refer you to a good BUYER'S Agent?"

Do I continue to rent?
Or, should I become a HomeOwner?

This can be an easy answer... Or, it can be very detailed and sophisticated analysis.
There are multiple questions here...
  • Can I save money by buying my own home?
  • Which is cheaper each month?
  • What are the risks?
  • I want to compare renting to buying... What form do I use?
  • Is my career in this location stable? (No moving anytime soon..)
  • What other costs should I consider?
  • Is a mortgage my best way to save/make money for retirement?
  • There are more considerations... This can be as simple or as complex as you care to be. Either Angie or Vernon can help you with tools to make a well informed decision.
You can play with a Rent Vs Buy Calculator online... No registration or any need to speak with anyone! One of the easiest to understand and use..

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Who is your "friend" when you are ready to buy?
Not YOUR Agent!

Agent for Seller

"Friend"? The name/number on the FOR SALE sign or one listed in an online listing ad works for the Seller (NOT you!). This is not to say this person is mean or deceitful. That should not be the case. BUT, this person works for the Seller (Not you!). This agent is responsible to the Seller to get the highest selling price and best terms for it's Client...
You are not it's Client! "Sorry Charlie!"

Actually, you would want someone who has YOUR interests and goals as primary... a knowledgeable real estate broker who will fully explain the process and all the forms... And, it should be someone who can advise you as to acceptible terms of purchase.
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It does not happen a lot, but once in a while, a tenant really likes their rental home and asks...
"Mr. Foster, do you think the Landlord would be willing to me buy my rental home?"

As the saying goes, everything is for sale if everyone can agree (on the terms).
What does it cost you to ask this question?
Absolutely nothing! Nada...

Want to know if you can purchase your rental home?
First things first...
(You should) Confirm with your bank you can afford a mortgage and your bank will sell you a mortgage? It is an easy process... Questions? You can ask Angie or Vernon.

Recommendation: Ask your bank's mortgage department the advisability of your getting a mortgage... Ask "I would like to be pre-approved for a mortgage loan." You need to know your bank (or online Lender) is onboard and "good to go" (subject only to good condition, not over-priced and clear Title)."
"Hey, let's be realistic!" Banks/Lenders are in the business of lending money.
So, the question would be welcome! After-all, your business is their profit!

[Back to the question " Landlord be willing~"]
"Oookay... I said it was on the rare side, right?"
If you can quality for a mortgage loan and your family and you are ready to "take the plunge", VFMR is ready to assist you (our Tenant).
ThumbsUp... VFMR is ready for YOU!
Once you have enough information (from your lender) that you can proceed with the offer process, just call VFMR and speak with either Angie or Vernon.

What happens next is fairly simple...
CONGRATULATIONS! You have begun the path to owning your own home!

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What if your Landlord is not interested in selling your rental home to you?
Could be poor might be later than sooner. OR, there is not "light at the end of (this) tunnel". What do you do then?

OR, you have enjoyed your rental home, but your preference is to purchase other property (for location, size, upgrading or downgrading, etc...).

depending upon available inventory of homes for sale, you may be shopping other home listing.
If you recall,
VFMR offers CUSTOM SEARCH for available  rental homes.
Well guess what!! This approach also works well for purchasing a new home.

Be sure you are (somewhat) pre-approved for a mortgage loan. If you would like, you can speak with Angie or Vernon and receive some insight as to what you can shop. Just call
VFMR and we can visit.
This is when VFMR will listen to all your goals and qualifications (what your Lender provided as your mortgage limits). This will help Angie or Vernon match you (our Tenant) to the best BUYER'S AGENT. Additionally, VFMR will work with your BUYER'S AGENT to assist him or her in finding what you want... Your own home.
2. Once you have the Buyer's Agent working for you, he or she can do likewise... Find you the sales listing which meet your personal criteria.
Caution: Want to waste a lot of time? (Dumb question!!)  ...start calling the phone numbers on FOR SALE signs or internet listings (all of them have tabs or sidebars with "CALL ME!").
IMPORTANT! Remember, these (Listing/Seller) Agents are not your friend. They get paid based upon the selling price... So logically speaking, the MORE you pay, the MORE this Realtor© gets paid. So, let
VFMR (or Buyer's Agent) weed out the listings which will save you time and YOUR money!

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Go on a VIRTUAL DRIVE-BY with PEGMAN... Offered by VFMR.
Google PEGMAN  
  Panoramic Virtual Tour for 1111 Whatever ASB Just go to Google Map link, drag the yellow PEGMAN from the lower-right corner of the map and drop the "little yellow guy" onto the street in front of 1111 Whatever Avenue. A GREAT WAY to see the neighborhood before you get the keys and see the inside.

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does business in accordance with
FAIR HOUSING LAWS     and     FAIR CREDIT REPORTING ACTSFair Housing Act... VFMR is a complaince office.FAIR CREDIT REPORTING ACT... VFMR is a compliance office.
VERNON F FOSTER, Broker In Charge
 LICENSE NO. 90254

VFMR,KINSTON,Homes,Real Estate,Rentals
Here's what the Property Manager has to say...
VFMR offers Pre-Approval!
Rental Home Shopping
Tell us what you need

Full & Comprehensive List of Everything
Not everything, but most ... Images + Info
Images & Info
Panoramic Neighborhood View, Virtual Drive By
Interactive map
Sample Lease
Save time when renting
Application For Residential Lease
Review and Download (PDF)
Application Processing Policy
Point By Point explanation of how  V F M R processes your Residential Rental Application
Tenant Resources
Need a Repair? Use this form online.. Easy!
Weather emergencies and more

Tips & Tricks
Make living easier & save $$

Saves Money and is Secure
Rent First-Buy Later
Owners & Investors 
News and Updates for Property Owners -And- Information about VFMR, Vernon and Angie Foster.

Local Area Partners and  Resources

Local news, events and more... Best starting place to visit for Newcomers... VFMR!

Backlink for VFMR  AREA NEWS

Get the latest news Local, State, US and more!

Weather Channel Backlink. VFMR  AREA WEATHER

Weather news from ""

Wikipedia  All about Kinston/Lenoir County
Lot's of info - History, Demographics & More!

Job Search Engine... NCWorks. VFMR  Local Jobs & Employment

Get the latest information on job postings and Continuing Education

Lenoir County Schools Backlink. VFMR  AREA SCHOOLS

Latest news, School Calendar & More!

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2803 W. Vernon Ave
Suite D
Kinston NC 28504

Office: ( 252 ) 522-2803
Fax: ( 252 ) 558-1530

Available: Monday-Friday, 9-1 & 2-5
Vernon Foster has set the "Gold Standard" for Property Management!
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