Category: Creative Financing

CREATIVE FINANCING: GIFT OF EQUITY

What is a gift of equity? Example: Your child is looking to purchase a home and you are ready to sell your home. Your child has expressed an interest in living in the childhood home instead of you selling it to a third party. but, your child has no money for down payment or closing costs. If your child can qualify for a mortgage, you can gift the equity in the home for the down payment. Lenders are keen on the non-arms length nature of this transaction, so agreeing to a market price for the home is a good idea....

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ARE YOU CONSIDERING INVESTMENT OPTIONS?

The following is a little help to analyze your options. Let’s say you worked hard and saved money over the years. It is sitting in your checking or savings account, and making little or no interest. You’d like to have your money work for you. You are considering investment options, such as stocks, mutual funds or real estate.  First, try not to be emotional. When you invest, you are looking for the best return on your money. Don’t get caught up in whether you are “in love” with a stock or piece of real estate. Try to stay analytical. Second,...

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GET ‘ER DONE? YES WE CAN!

One of the many reasons you want to work with us is that we have great flexibility to get a deal done. As a mortgage broker, we have relationships with many different lenders who offer a variety of products. Here are a couple examples of how we can help: A client comes in with less than perfect credit, they have a steady job, student loans, car loan, and credit cards. As a result of the heavy debt load, their credit score has suffered, and is under 600, around 585. How can we get ‘er done? There are actually two ways:...

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