There are many steps in the home buying process. It's easy to miss something that can add significantly to the cost of your home. A Realtor, such as myself, can help you simplify this process and get the most home for your money. Here's how: Give you a complete picture of the costs so you know how much home you can afford. Help you rule out homes that don't fit your needs (0 comments)
lafayette indiana real estate: Lafayette Indiana Real Estate - Mortgage Financing - Credit Issues
- 08/16/08 01:48 AM
Financing Solutions with David Reed Credit issues? Your lender can help. We frequently hear we're supposed to regularly check our credit reports. And staying on top of this is especially important when starting to shop for a new home. There are three main credit bureaus: Equifax, Experian, and TransUnion. These bureaus store consumer credit histories by the millions, and hundreds of thousands of businesses tap these bureaus for their data about you. Unfortunately, mistakes can happen. Especially if you're not the only "Bob Johnson" or "Susan Smith" who lives in St. Louis. Let's say you receive a copy of your credit (0 comments)
lafayette indiana real estate: Lafayette Indiana Real Estate - Mortgage Financing - Gift Funds
- 08/16/08 01:45 AM
Financing Solutions with David Reed Getting a cash gift? Lucky you! Getting a gift in the form of cold, hard cash to buy real estate is a wonderful thing. Gift funds are a common way parents help their kids buy a home, but there are certain requirements to follow to ensure the gift transfer goes smoothly. What exactly is a cash gift? Technically, it is a transfer of funds from one party to another without any expectation of being paid back. This non-repayment factor is a key element because lenders can't accurately calculate debt ratios if the gift is in (1 comments)
lafayette indiana real estate: Lafayette and West Lafayette Indiana Real Estate - Mortgages
- 08/16/08 01:43 AM
Financing Solutions with David Reed A bad wrap! We've all heard the term, "wrap around," but what exactly does it mean? A wrap around mortgage, or simply a "wrap," is an agreement where the buyer of a property makes monthly payments to the seller of a property, who then pays the original lender each month. This is perceived as a way of an owner "selling" a property to a buyer without the buyer obtaining conventional financing. While a wrap can be viewed as a traditional sale, in reality it's anything but. All mortgage loans contain a "due on sale" clause. (0 comments)
lafayette indiana real estate: Tippecanoe County Foreclosures and Short Sales
- 07/13/08 03:21 PM
Buying a foreclosure can be complex and a lengthy process. The complexities of buying foreclosed properties can begin with finding an agent that is familiar with the short sale, foreclosure and REO process, as well as, finding a great deal to avoiding some pitfalls. Foreclosure rates in the United States are increasing as a rapid rate which is creating an opportune time for investors and buyers. Points to consider when purchasing a foreclosure: Borrowers are often are given a grace period to avoid the foreclosure process, often 2-3 months. The borrower may opt to sell the property during this pre-foreclosure stage if they can't make up (0 comments)
lafayette indiana real estate: Lafayette Indiana Real Estate - Mortgage Financing
- 07/13/08 03:01 PM
Financing Solutions with David Reed Government Grants For first-time buyers, often the first thought that comes to mind is, "I need a down payment." This is often followed by the question, "Now, where do I get that down payment?" Depending upon the loan type, a home mortgage typically requires 3 to 5 percent down. If you have the money, then you're set. But what if you don't? What if you're renting? You can afford a mortgage within your means, but coming up with the down payment money needed to begin the transaction can be challenging. So, where can you turn? (1 comments)
lafayette indiana real estate: Lafayette Indiana - Is Owner Financing For You?
- 07/02/08 01:28 PM
Is owner financing for you? Owner financing has been a popular practice in previous real estate downturns. Current market conditions and upheavals in the mortgage industry have given rise to a new-found interest in this idea. If you own your property outright, have a need to sell in a soft market and are interested in converting your sold home into an investment that yields returns, owner financing may be a option worth exploring. Successful owner financing means that you, the owner of the property, get to widen the potential pool of home buyers by offering to finance the transaction. And since (1 comments)
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