In a hot buyer's market you can ask sellers for closing cost assistance. However, if you are on a hot seller's market you'll have a hard time asking for closing cost. Sellers typically receive multiple offers and they will select the most appealing offer. IF you must have closing cost assistance then there are ways to make your offer appealing by making an aggressive offer and terms BUT you have to be comfortable with that. I would suggest that you consult your agent.
Seniors Real Estate Specialist
Certified Home Stager
United Real Estate Dallas
The best thing you can do is apply for a mortgage to find out which programs you qualify for. In addition, if you end up not qualifying right now we at least have 6 months or so to get you to the point were you do qualify.
Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.
Please feel free to contact me for more information or help.
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
Thank you for your service. As to the credit, much really depends on the individual landlord/building, each is different and some are stricter than others; if all else fails you could consider a guarantor...... more
Numerous scams are popping up all over the internet. If you are looking for a rental contact a local real estate professional to assist you. Some of the con artists are getting very creative so please use caution to avoid becoming a victim.... more
Yes, San Antonio actually has a very healthy rental market due to the presence of the military. Fort Sam Houston alone has over 50,000 soldiers stationed there. Randolph AFB has at least another 20,000. This creates a lot of opportunities for an investor to buy a home for rent. There is also a large population of students in the northwestern side of town.
To target military families, look for homes around Schertz or Cibolo. For students, look for newer construction homes around DeZavala, Borne Stage Rd, or NW Loop 1604. I do not work the San Antonio market but used to live there for several years. If you would like a referral for an agent specializing in investment properties in San Antonio, please let me know and I will try to find one for you.
That is a hard question to give a direct answer but here are some things to consider so you can see what is best for you.
1. What are your long-term goals? Do you want to live in a paid off house or do you plan on retiring or having children in college in the next 15 years or so. Living mortgage free would give you more cash flow to pay for things like that or if your income will be less due to retirement.
2. Can you afford the payment and still maintain the lifestyle you are accustomed too? Even with the larger down payment you will have a slightly higher payment with a 15 year most likely. Make sure the payment is something you can live with based on your current and future income estimates.
3. Could you better invest that money elsewhere for a higher return. There was a good article written years ago that showed a person who paid off their mortgage earlier by paying an extra amount each month and another person who invested the same extra payment amount each month in mutual funds or other investments. The person who invested in the mutual funds was able to accumulate much more wealth and pay off the home earlier than the person who made the extra principal payments. And remember this was back when interest rates were a few points higher than they were today. Of course no investment is guaranteed so this option does have more risk but has the possibility to offer you a better return.
Remember that with tax advantages your effective interest rate is lower than the rate on your mortgage... money is very cheap these days so by paying off that very low interest mortgage you really need to think if that is the best possible use for that money?
Living in a home with no mortgage is great but you really need to look at the big picture to see what will help you accumulate the most wealth over time.
Hope this helps.
Don Groff | REALTORÂ® & Mortgage Broker | Austin Real Estate Pros & 360 Lending Group
office: 512.669.5599 | mobile: 512.633.4157 | email: firstname.lastname@example.org
websites: www.AustinListed.com | www.360LendingGroup.com... more
There are many factors to getting qualified for a loan, the credit score alone is not enough and also there are a number of different programs that you can apply for depending on your situation.
Please send me your personal email and I will forward my lender's info to you.
He is the best I've ever worked with and knows all the programs in TX.
He is always available to answer questions and if there is something he can't do he will refer you to the right person.
VOX Real Estate
You might want to contact your tax assessor's office....generally a commercial zoning approval will add to the value of the home. A residential use may (or may not) ba allowed for this property, the tax assessor would know for sure. Personally I would not want to change the zoning, rather see if a residential use is permissable for the property....hope this helps.... more