Reblogger Emily Medvec
Real Estate Broker/Owner with eXp Realty LLC NM Broker License 16161

The title of this post caught my eye. This is a must read because of the way Joy Daniels puts family and real estate together when it comes to financing. Families have always planned for the future and this post underscores some solutions for the present.


Original content by Joy Daniels

All in the Family!In old movies and television shows, families are portrayed as having strong ties between parents, children, aunts, uncles and grandparents. Relatives seem to join together in close-knit unity, sharing their prosperity and giving each other emotional and financial support.

Something you may not have thought about, but is certainly worth some thought is the possibilty of family assistance when it comes to financing a new home.  Today, there are still opportunities to return to the values shared in earlier times. Younger family members can be assisted with a down-payment on a first home. Others might benefit from "family financing" on their next home.

By making funds available to family members for down-payments and mortgages, parents, grandparents, and other relatives can earn more favorable interest rates than their savings would normally earn. Such loans can be secured with a first mortgage providing financial protection for the lending family member.

If CDs are paying 1% and mortgage companies are charging home-buyers 5%, there is room for both the family borrower and family lender to benefit. By offering a 3.5% mortgage rate, the lending family member helps the borrower, while earning more than double the return available on savings.

Home ownership has historically provided a long-term increase in financial security. Secured loans from one family member to another can provide financial growth, strength and security, not to mention emotional satisfaction. Whether you are planning to buy, or have money to invest, talk to a family member first. Put your family ties to work for the good of the family.

Maybe your family can help you be able to say GOOD NIGHT - John Boy. . . in your own new home!



Joy Daniels, GRI, ABR, CSP, e-PRO
2793 Old Post Road, Suite 200
Harrisburg, PA  17110

(717) 695-3177  office - Call TODAY and let me help you find your dream home! - Email TODAY and let me help you find your dream home!

What is your home worth?  Find out at MLS Market Snapshot

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Joy Daniels
Joy Daniels Real Estate Group, Ltd. - Harrisburg, PA

Thank you Emily. . . Family is so important.  I think not being afraid to ask you family for help will make them feel more important too!

Jan 24, 2012 12:48 PM #1
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Emily Medvec

Realtor | Serving Santa Fe & Northern NM
Emily Medvec Sells Santa Fe Real Estate! Call/Text 505-660-4541

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