i think you mean shared owneship. they are only asking for half the value as they are only intending to sell half the house. the other half they will still own. you will have no equity in the house, only what you put down as deposit for your share of the mortage. you will also need to pay rent as well as any mortage payment you make.
You bring a cashiers check for the downpayment and any fees shown on your settlement report to closing.
yes you can. as long as you have the funds.
Yes it is possible to refinance your house if you have low equity. But you must have at least 20 percent equity before your refinance will be apporoved.
What do you need the downpayment for? If it's for a mortgage on a house, then most states/counties have downpayment assistance for people. Search for it on Google, or I guess you can look it up in the yellow pages. If you want to search for it put "downpayment assistance" (with the quotations) in the search box and then put the name of your city, and press search. Then go back and try it with your county name. They have a lot of programs out there.
One can calculate how much equity they have in their house by using an online home equity calculator. Both Chase and MSN Money offer a home equity calculator that can be used for free.
Your equity in your house is the difference between what the house is worth, the fair market value, and how much you owe on it.
An equity line of credit is issued based on the amount of equity you have in your home. If you have a $100,000 house and owe $75,000 then you would have $25,000 in equity.
Home equity is something a homeowner builds in his house. When a person buy a house, they make payments on said house. Then over time, naturally a property becomes more valuable. So when a house is bought and you live there for 10 years you build equity in the house. To find out about equity in Florida, contact a Real Estate agent.
Equity release schemes are also called lifetime mortgages or reverse mortgages. They allow someone to take money out of the equity paid into their house and the house goes to the bank when they die.
Equity release is re-mortgage plan that makes it possible to release equity on a mortgaged property. But, as soon as the equity amount is paid, you have to clear all the outstanding mortgages on your house. There are some equity release providers who deduct the outstanding mortgages from the value of your house to repay the loan.
Equity is the proportion of those assets you own, compared to the debt on those assets. An example would be a house. A house is an asset. The equity is the amount of the mortgage that is paid off plus any appreciation the value of the house. Same with a company. Its the difference between what you own and the debt or liabilities. Assets minus liabilities equals equity. You have equity in assets.
Adding on to your house will in fact add to the equity of your home. The amount that will be added, however, will depend on things such as the cost of the project, where you live, and how much your house is worth.