If you do not pay the loan on time a lender can demand payment in full. Basically what they are stating is if you pay you stay. If you don't pay they can demand payment in full. This will never happen though. If you get behind you need to keep communication with your lender and let them know what is going on. Most lenders will work with you but if you break your contract by not paying on time they do have the right to demand payment in full or to initiate foreclosure proceedings.
Yes, things do happen in life but if you are worried you may miss payments here and there you may want to wait until your life is more stable. Buying a house should not be taken lightly.
Best of luck to you.
REALTORÂ® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
Brand new homes are more energy efficient than older homes. New homes have radiant barrier roof decking, Low-E windows, good r-value installations, 14 Seer AC, energy efficient appliances just to name a few. I will give you an example. I purchased a new home in 2008 and my mother-in-law has an older home built in the 70s. We both have a one-story home that has 4 bdrms-2 bths w/ around 2,000 SF. Last summer we spent an avg of $100 per mth on our electric bill. My mother-in-law paid an avg of $250 per mth.
I hope this helps and I wish you the best of luck with your home search!
Make it a Blessed Day!
Hendrickson Realty Group
Cell: (972) 697-1178
Fax: (682) 222-1049
Website: http://www.NewHomesInDFW.net... more
Michael, Financing in Burleson
Your question: what is the best way to to finance a home these days, so my payment will stay the same?
It depends if you are buying a home or refinincing. Either way work with an experienced Realtor to point you in the right direction.
One of my first questions I ask Home Buyers is how much do you want to spend a month? Hearing the answer to that questions gives me my first step in helping home buyers. I would sit down and have a consultation with you to find out your other finances and what type of home you would like. The interest rates are great now and the 1st time home buyer tax credit is still available. Contact me to set up an appointment so I can help you. Contact me by me web page. Great Question!... more