Financing in Lawrence>Question Details

Paizley79, Home Buyer in Lawrence, KS

Im a single mother of three I dont have good credit but most of it is from year ago Ive found a brand new home I can buy for what the contractor has

Asked by Paizley79, Lawrence, KS Sun Nov 22, 2009

in it which is significantly less than what it is apprassied at is there any types of home loan for people in my situation

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Rob Lang’s answer
Hi Paizley79,

Harold Arnold from Chicago is correct. Find a local Realtor who will help you get pre-qualified so you can obtain financing. There are several financing options besides loans from banks that should be pursued such as seller financing that Mr. Arnold mentioned. A few others would be relatives buying the property for you and you buying it from them, your employer buying the property for you and you buying it from the employer, etc. There are other options to pursue as well along with variables such as how much money you have as a down payment, the interest rate that will be charged, the term of the loan (number of years), to name a couple.

Again, find a local Realtor who will help you through this process and even if this house does not work out, he may be able to help you find another house that does.

Thanks and "Don't keep me a secret--I'm never too busy for your referrals!"
Rob Lang, CRS, ABR, ePro, GRI, CFPS Realtor®
Sellers http://www.MLSPlease.com (Marketing homes to 2 MLS's, to over 10,0000 websites, and virtual tours, and a $1,495 full service listing side option to save home owners thousands of dollars when they sell their home)
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0 votes Thank Flag Link Sun Nov 22, 2009
Find a realtor who will get you prequalified and who will negotiate a land contract. (seller financing).
0 votes Thank Flag Link Sun Nov 22, 2009
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