homes for sale: It's not about the Sale!
- 11/06/10 11:51 PM
I met a prospective buyer a few weeks ago at an open house and immediately put her in touch with a mortgage lender to get qualified. While she qualifies, with a co-signer, she doesn't have the cash available for downpayment/closing costs. She thought she could get 100% financing. No, that ship has sailed! I explained that she would need 3.5% of the sale price and could possibly get a seller's assist for the closing costs, but she definitely has to have some skin in the game. Her dad had offered to be a co-signer (he was the one out looking for … (11 comments)
I met a prospective buyer a few weeks ago at an open house and immediately put her in touch with a mortgage lender to get qualified. While she qualifies, with a co-signer, she doesn't have the cash available for downpayment/closing costs. She thought she could get 100% financing. No, that ship has sailed! I explained that she would need 3.5% of the sale price and could possibly get a seller's assist for the closing costs, but she definitely has to have some skin in the game. Her dad had offered to be a co-signer (he was the one out looking for … (11 comments)
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