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tips for home buyers: Are home loans available to cover repair costs?
- 11/08/13 08:29 PM
Do you have more repair skills than cash?
If you would like to purchase a home and get a great value, you might be able to get a loan for the home of your dreams with the help of 203(k) rehab loan insurance.
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As long as the After Repair Value (ARV) of the home is MORE than the amount you need to borrow, getting a loan with the help of 203(k) loan insurance might be the way for you to go.
Example:
$25,000 - Home Purchase Cost
$35,000 - Home Rehab Cost
$60,000 TOTAL COST
$125,000 - Home Value … (5 comments)
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tips for home buyers: Why buy a home in Detroit right now?
- 11/08/13 03:09 AM
If you are renting your home in Detroit, there is a very good chance that you are wasting money.
Ordinarily, paying rent instead of a house payment to build toward an asset is a bad idea, anyway. However, with today's house prices in Detroit, you are probably PAYING MORE EACH MONTH.
That's right!
Right now, in many places within the City of Detroit, the amount you have to pay for RENT each month EXCEEDS the TOTAL MONTHLY COST TO OWN, even if you are borrowing the money.
Currently (at the time of this blog post), you can buy a home … (3 comments)
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tips for home buyers: Why buy a home now?
- 11/08/13 02:59 AM
Why buy a home? What makes it so much better than renting a place to live?
Of course, as a real estate company, we make money when people buy or sell homes using our service, but it actually makes sense for YOU...for many reasons...but it's especially true for Detroit houses. You really should buy now, because it makes sense.
Okay, how does it makes sense FOR YOU?
Reasons to Buy vs. Own a Home
However, there are very good reasons to buy a home vs. renting in general.
Reason #1: Building Your Own Asset--Building Equity
Essentially, you can work toward entirely owning … (10 comments)
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Do you have more repair skills than cash?
;)
;)
