Tag: <span>Down Payment</span>

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FIRST THINGS FIRST

You’ve decided you want to buy a house but don’t know where to begin. You’re not sure what to do. First things first; Here’s where to start: • The first thing to do is check your credit, you will need a good credit score to get a good loan. Student loans, car loans, and credit...

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NO MONEY DOWN LOANS, HIGHER INTEREST RATES

Many lenders will try to sell you no money down loans, or down payment assistance loans, but it is likely that these loans will have higher interest rates and more costs. If you can come up with a down payment, in some instances as little as 1% of the sales price, you may be able...

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QUALIFYING WITH A GIFT LETTER

Can gifts be used towards the purchase of a home? Gifts are allowed on primary residences and second homes, but not on investment properties. To qualify, a gift must be made by a relative. A gift letter will need to be executed by both the donor and donee stating their relationship, the amount and date...

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DOWN PAYMENT ASSISTANCE PROGRAMS

Let’s take a look at down payment assistance; there are programs that will actually make the down payment for you: There are different types of programs. Some which you will have to apply for separately and others that are part of the loan process. However, like anything else, these programs are not free. Although you...