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Charlotte County : Real Estate Advice

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Activity 4
Sun May 31, 2015
Iamhumdinger answered:
It shouldn't matter to you at all about taxes. You should give the house to your Mother or just let her pay the mortgage if you aren't able to afford both. GEEZ she is your mother do whatever is best for her not you. ... more
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Fri Jun 24, 2011
Dp2 answered:
Although some programs are available to help someone with down-payment assistance, the participant typically still needs to "have some skin in the game" (meaning contribute some cash in that deal). The amount required varies.

You might want to consider acquiring a property via a lease-option (aka rent-to-buy). Of course, you'd have some trade-offs, so you'd want to do some research on this and other options.
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Thu Jun 23, 2011
Sherri Loving Smith answered:
Your question is a little vague, but I assume you're referring to the 1st time buyers grant funded by the Federal Home Loan Bank (FHLB). The grant is available through many lenders, and you just have to check with your lender of choice to see if funds are available. In addition to typical loan qualification requirements, you must be a 1st time buyer (not owned a home in the last 3 years), your household income cannot exceed 80% of median income in the area of the property to be purchased, and you must participate in a 1 hour online home-ownership education class. You must contribute at least $1000 which is matched 4 to 1. (If you contribute $1000, you get $4000. If you put in $1875, you get $7500.) The money can be used for closing costs or down payment. It's pretty flexible in that the grant money can be combined with other programs. There may be other restrictions and conditions, but I'll leave that up to the lender to explain. If you'd like a referral for a real estate agent in your area, please contact me directly, and I'll put you in touch with someone who can help you find a lender and a home that suits your needs. ... more
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