How can we look at this home? and How much do we have to put down on a down payment?

Asked by Christopher And Beth Schmucker, Elkhart, IN Fri Mar 9, 2012

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Ann Connolly, Agent, Mishawaka, IN
Sat Mar 10, 2012
The home on Division is already gone. I sold it just this past week. At these low prices you will usually need to pay cash because a lender will not finance them in the shape they are in.
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Carole Mirac…, Agent, Elkhart, IN
Fri Mar 9, 2012
This home will be open this Sunday from 2-4PM. A lender will have to determine what kind of loan, downpayment, and what your interest rate will be.
Come on Sunday to see if you still have interest. I will be there.
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John Sands, Agent, Goshen, IN
Fri Mar 9, 2012
You likely need to pay cash at this price point. Many times the condition is such that it may not be lendable. You may also run into certain lenders having minimum first mortgage amounts. In that event, and if the house is lendable, you could consider such products as home equity loans. Contact your favorite lender for guidance.
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Scott Bradsh…, Agent, Bristol, CT
Fri Mar 9, 2012
You should contact a local realtor to set up a showing appointment. A realtor will guide you through the entire home buying process. Your down payment can depend on the type of loan you will acquire, usually a 3 - 3.5% down payment.
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