Tag: <span>#DownPayment</span>

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TO RENT OR BUY, THAT IS THE QUESTION

An age old question many people face; continue to rent or  commit to buying a home? Most people do a financial analysis to see if this makes sense. Will the mortgage payment be less than the rent payment? Whether yes or no, they should consider that the principal portion of the mortgage payment is used...

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WHAT’S BEST FOR THE FIRST-TIME HOMEBUYER?

I see time and again advertisements on the internet for no down payment first time homebuyer loans. The down payment is typically in the form of a grant that does not need to be paid back. Many people push these loans enticing first time homebuyers to buy a home without any money out of their...

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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...

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FRIDAY THE 13TH, DON’T BE AFRAID

Here we are on Friday the 13th and you are thinking about buying a home. You have heard horror stories by others regarding the home buying process. You are starting to reconsider and feel that renting will be easier. Well, don’t be afraid, you can buy that home and the process can be smooth. What...

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CAN CLOSING COSTS BE PAID FOR YOU?

Contributions toward closing costs allow costs at closing and prepaid expenses to be paid by interested parties to the transaction. So, if you only have the down payment, or are looking to do a no down payment loan and do not have much cash, you can negotiate to have the closing costs paid for you....

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DOWN PAYMENT: WHAT CAN YOU USE?

Many lenders will try to sell you no money down payment 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...