We offer a no document loan in Indiana for Owner Occupiers, but we require 35% down based on the purchase price. If you have a down payment that's what we require, as the financing is non credit score based. This loan is also open to distressed properties and fixer uppers. The house must appraise for the purchase price on the contract and that's the only underwriting requirement. Please let me know if you'd like more information.
The best thing to do is get with an agent and ask if they have an client, or see homes that you are interested in and wright up an offer as rent to own. It is harder to find because people that tend to have homes that are rent to own are for sale buy owner.... more
Hi, In my opinion you sound like an ideal buyer who should be able to obtain a pre-approval easily, and I do not believe you will need to verify the rent. I think it is important to work with a buyers agent who will represent you in negotiating and purchasing of the right home for you. In Indiana you can have professional representation without any cost to you as a buyer. When a seller lists a home, they negotiate the commission as a total and it also covers the buyers agent, so they will work for you and be paid at closing by the seller. Therefore I think the best first step is to contact a Realtor, or a few, and choose one who you really trust, and then obtain a few lender referrals and you and your agent can go over different loan programs with a lender to determine what will be best for you. I do a lot of first-time home buyer representation and I would like to assist you. If you would like to check out my references you can do so at www.kristymiley.com. I hope to hear from you soon. You can also email call or text me and I will get you started in the right direction. Thanks, and good luck. I have a free buyers guide I can email you also, as well as some listings that you may like, based on what we initially discuss. Kristy Miley... more
Congratulations on finding one move-in ready for that price! The minimum loan amount is often $50,000, but I have found some lenders that will go lower ... It depends on if you are purchasing the home as an investment (aka Rental) or for your own private residence. If it is for investment, I would suggest 5th 3rd Bank, Lafayette Savings Bank, or another local lender. If it is for a primary residence, I would suggest Janene Vance at Wells Fargo 765-430-6392 or Chris Landis at 5th 3rd Bank 765-414-1748 ... (Provided as courtesy only).
If they cannot help, feel free to TEXT or call me at 765-418-9613 & I'd be glad to help you find another.... more
It makes no difference if it's foreclosed or not, it's owned by someone or some bank. You apply for a loan with a lender just as you would any home. They will guide you through the process of obtaining a loan and checking the value of the home to make sure it's worth the price paid (appraisal). Visit a local bank or mortgage company and speak to the loan officer, talking to several different lenders is a good idea. Hopefully you have a Realtor you are working with and they can help guide you.... more
Depends on the terms of the auction , work with Realtor develop a plan where you are represented by an agent their fees are covered
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
Perhaps if you have your agent turn in a short sale package that includes a new CMA that supports a more reasonable price and offer, this may help. Because banks can't pick appraisers by law, and perhaps the appraiser was out of town or out of state and made his appraisal based on his local market. So to nicely show them that "Hay, I know you were told this was the right price. But we did a CMA that is right her in town today and this is what we are getting that the pice should be." Help them help you and, as our high school teachers would say "sight your sources" when giving an offer.... more
Hi,D, I have to ask too, who did you pay? Please answer. Please contact a Local Realtor (since the website that you got charge most probably is not a Realtor / Broker) for accurate information.... more
Your concern about time on market for your home should be a concern if you are not already on the market. You need to do everything you can to shorten your market time once your home is out in the public eye.
1) Price it to sell. Do not over price your home. Many owners interview agents, get 2-3 opinions on price. Have the realtor show you the SOLD comparables used in their analysis and price it with NO ROOM to Spare. This way, that same analysis "could" be used to show a buyer that you have not overpriced your home.
2) Get your property inspected, (and surveyed if needed) so that all disclosures have been made up front. Also, from the inspection report, try to make the repairs. This will save time and will ultimately save you money. (You don't want a buyer making a discovery on any defect with your property, buyers and agents will multiply a cost of a repair by 10 or 100.)
3) You can get the paperwork together from when you purchased your home and your local Title company or have your listing realtor get a pre-determined title search done. (Should not have any cost here as long as you use that company when you have a buyer).
Have your Realtor do an Open House Immediately (the 1st weekend it is listed if possibly) and invite ALL your neighbors.
All of these should help shorten time on market, unless something is wrong with the home and your agent should be able to share with you any problem you might have to face.
Happy buyer hunting.
Hi Craig! There actually is a Lafayette-West Lafayette Craigslist...just a little harder to find because of Lafayette, LA. Check out: tippecanoe.craigslist.org
It is a great area! I really enjoyed my time there while attending Purdue...Go Boilers! Let me know if there is anything else I can help with!... more
Ask and you shall receive, it was once said. :)
There are more rent to own properties becoming available now than ever before..., call a Real Estate professional in your area and ask about it. If they do not seem to know, then ask another one. I bought 4 houses this year and two of them have tenants in them now on a Rent to Own program. You may also find a lot more sellers will be receptive to this idea if you present it to them, especially those who must sell.
Best of luck in your search,
That is a tough question. First ask what type of property you want? location, and price, then do you want custom, or more of a go in a choose from the floor plans they have, These thing will determine what builder fits your needs best. Your builder can help you through the process, but Buyers agents are helpful, It is really about your comfort level. I am happy to talk with and buyers before they go out looking to see if we can find them the perfect fit.... more