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What else can I help you with?
When the seller answers no representation on a disclosure are they hiding something?
If there is not a disclosure of any kind, then make the proper arrangements to get an experienced home inspector AND contractor at the house before making a purchase. You need to know what you are getting into prior to making such a big purchase
What is the seller when he sells his home an offeror or offeree?
The seller is the offeree. In all real estate cases, the seller will list or "put up for sale" their home or property. A buyer will then submit an offer to purchase that property making them, the offeror.
Can someone get insurance on a mobile home without having the title to it?
If they have a bill of sale providing proof of ownership, the answer is yes they can purchase insurance on the mobilehome. If there is some kind of contention that they do not legally own the home, it may require more proof to satisfy the company.
Can you purchase a home scheduled for auction before the auction?
You are not able to purchase a home prior to auction unless the auctioneer and/or auction company has provisions with the seller to permit such a sale.
Is it illegal to purchase products from a store and sell them for profit from your home?
No, it is not illegal to purchase items and then resale them for a profit. This is how businesses make their money.
How did gi bill affect the vererans returning from war?
It allowed them to get a college education and also allowed them to purchase a home by allowing them to obtain a mortgage without a downpayment
What percentage do I need for a down payment during a home mortgage?
The traditional downpayment that lenders require is 20 % of the purchase price of the home. It is possible to put down less, but you will then have to pay for Private Mortgage Insurance.
What agency would I go to, in Chicago, to apply for federal grants for the use of a downpayment for first time home buying purposes?
I would try your local grant divison area that can help you with your home buying purchase.
How do you buy a reverse mortgage home?
There are a few Reverse Mortgage products that can be used to buy homes. The FNMA Homekeeper is one of them. You have to put down a hefty downpayment, say 50% or more. Lenders have their own overlays on how much you have to use as a downpayment. From there you apply for the FNMA Homekeeper loan like any other real estate loan. The nice part is that you have no mortgage payments! Typically if a senior currently owns a home and wants to sell and buy elsewhere, if you have ample equity in your existing home, you can take out a home equity line of credit (cheaper than a new 1st mortgage) and use that equity for the downpayment for the new home. You than could use the large downpayment for the new home purchase using the FNMA Homekeeper reverse mortgage. Than sell your existing home after the new home purchase. Another way is to take a regular reverse mortgage out on your existing home, and use that money to plunk down on the new purchase and use the FNMA Homekeeper loan to purchase the new home, than sell your existing property. Make sure and check with individual lender rules on how many outstanding Reverse mortgages you can have at one time. Best of luck.
FHA Mortgage Loan Calculator?
FHA Mortgage Loan CalculatorUse this calculator to determine the maximum FHA mortgage that would be allowed for your home purchase and an estimate of your required downpayment and closing costs. This calculator is designed to determine the mortgage FHA limit for a particular purchase, not the maximum allowed for any home in your state and county. To determine the maximum purchase price for your area you should use https://entp.hud.gov/idapp/html/hicostlook.cfmat the HUD.gov. Then use the calculator below to determine the required downpayment and FHA mortgage limit.-
How does a rent to own home contract work?
In general, you will sign a lease for a certain amount of time. A specific amount per month will be set aside into an account by the owner for use as a downpayment on the property when you are ready to purchase.
What is the typical amount of earnest money required when making an offer on a home purchase?
The typical amount of earnest money required when making an offer on a home purchase is around 1-3 of the home's purchase price. This money shows the seller that the buyer is serious about the offer.
Can you drive the car home after purchase without a license plate?
no
Can you use a personal line of credit for closing costs down and fees to purchase a home?
I used my line of credit for legal fees and partially for downpayment but the bank that I got my mortgage from was not aware of it as my line of credit was with a different financial institution
How old do you have to be to buy a home?
Basically you have to be an adult and have a steady income and downpayment to where it makes sense to loan you the money.
Up to how much of a person's home can be refinanced using Rock Financial's FHA Loan program?
Rock Financial's FHA loan program is most flexible loan program. One can refinance upto 97.75% of person's house value with low downpayment can be as low as 3.5% on home purchase.
Can a home equity loan be used for a downpayment on another home?
A home equity loan is a type of loan in which the borrower uses the equity in their home as collateral. There is no restriction on how we can use the money from Home Equity Loan.
