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All Locations : Nationwide Real Estate Advice

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A few minutes ago
Laura Muzzarelli Jorden asked:
A few minutes ago
Susie Kay answered:
There are many different types of loans. I would suggest that you consult with your lender and let them know what you are planning to do.
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A few minutes ago
Tod asked:
We purchased a home in June 2017. Our realtor refused us having our own roof inspection ststing sellers were doing that for us. We had a home inspector take a walk through on the home and…
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A few minutes ago
Susie Kay answered:
A few minutes ago
TTown TPG answered:
Hi Carrie,
I'm a former Realtor and current Property Manager in Tuscaloosa. I absolutely agree with Dan on his opinion of rent to own. I believe most Realtors would agree but you'll find few that are willing to say so. Is there a reason you wouldn't be ready to purchase at this point and are looking for a rent to own? Assuming it's the reason most people look for that option which is either a need to clear up credit issues or save more for their down payment, the most sincere bit of advice I could offer is that you find a nice rental that is below your means and set a goal of purchasing and owning a home within a comfortable time frame that doesn't allow you to feel stressed and pushed to meet a deadline. I'm sure this isn't the answer you're looking for but try to imagine yourself a year, two years or however long you choose down the road and how it will feel knowing that you don't have to rent to own because you've worked hard to save your money and you can choose the type of home and the location you want to buy your home in..
Good luck!!!!!
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A few minutes ago
patricia jones answered:
A few minutes ago
Heyman517 asked:
A few hours ago
Shalonda Fields asked:
A few hours ago
Twigneedham answered:
The cards are for the seller not the listing agent. As a seller I want to know who has been in our house. If you are doing such a lousy job as a listing agent, maybe the seller SHOULD be looking for another agent. If you are doing a good job, you have nothing to worry about we home owners knowing who has been in our house. Besides; far too many "agents", "professionals" simply saying the house was shown. Really? How does the home owner KNOW the house was shown? ... more
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A few hours ago
Laura Fox asked:
A few hours ago
Tracykailua asked:
Kailua studio rental available November or December 2017 how to get it listed on Trulia website
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A few hours ago
Densilucy answered:
The most common mortgage types for residential properties are an FHA loan and a Conventional loan.

Depending on the loan program, the required minimum down payment amount varies. For FHA loans it is 3.5% but keep in mind that with less than 20% down you'd have to pay "mortgage insurance".

The Fannie Mae conventional 97 loan program allows for home financing with just 3%. However, it may be difficult to secure the mandatory mortgage insurance if you have a low credit score.

USDA has ZERO down payment loan programs. To be eligibile, the property location must be in a designated rural zone.

Find out more about the low down payment mortgage programs.
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A few hours ago
Densilucy answered:
Typically the down payment is not due until closing, although it all depends on how your contract is written. On new construction homes, Some builders may request increased deposits throughout the building process and/or option deposits if you select certain upgrades.

The closing costs are generally not due until the closing, except maybe for the appraisal and home inspection fees.
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A few hours ago
Densilucy answered:
Finding a Lease to Purchase home can be very difficult if you are not looking to put any amount as security deposit or down payment.

The first step is to tackle your low credit score. Bad credit or no credit can be fixed over time, provided you are committed to doing so.

Here are some of the most common features of lease to purchase terms:

1. The amount of Down payment expected by the owners can be substantial. Most owners generally ask for 10% to 20% of the purchase price. This amount is non-refundable.

2. The amount charged as monthly rent is much above the fair market rent for the area, with the only the excess amount going towards the house purchase. Even this is also not refundable.

3. If not qualified for financing at the agreed upon time and price, then you lose all money you've put into the property so far.

4. The sale price is usually agreed upon at the beginning of the rent to own contract, and the housing prices may still decline before you finally take ownership.

5. The owner must also properly pay their mortgage, if they own. If they fail to pay or default, you lose.
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A few hours ago
Densilucy answered:
The amount of down payment you need inorder to purchase a house is one of the most frequently asked questions. The correct answer is - it depends.

Depending on the the type of mortgage loan program, the required minimum down payment amount changes significantly. For FHA-insured home loans it is 3.5% and for conventional, conforming loans it can be 10% or 20%. It really depends on the type of loan.

You'd be required to put a minimum of 3.5% down for the FHA loan - but keep in mind that with less than 20% down you'd have to pay "mortgage insurance". In case of Fannie Mae loans, you'll have to opt for private mortgage insurance or for a second mortgage.

USDA has ZERO down payment loan programs. To be eligibile, the property location must be in a designated rural zone. For eligible veterans, VA loans can allow for very low down payment.

Find out more about the minimum down payment requirements for various loans at http://downpaymentguide.org
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A few hours ago
Densilucy answered:
The Georgia Dream Homeownership Program provides first mortgage loans, down payment assistance and home buyer education to eligible home buyers. An eligible borrower must not have owned a home in the past three years, or must be purchasing a home in a targeted area. The borrower must meet income and purchase price limits, have limited assets, and must invest at least $1,000 into the purchase transaction.

Find out more the dream program and other GA down payment assistance programs at http://downpaymentguide.org
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