Wednesday, August 29, 2012
Thursday, August 16, 2012
We Can't Get A Mortgage, What Are Our Other Options? | REALTOR.com® Blogs
We Can't Get A Mortgage, What Are Our Other Options? | REALTOR.com® Blogs
We Can't Get A Mortgage, What Are Our Other Options? | REALTOR.com® Blogs
Q: My wife and I are looking for a house but can’t get a mortgage with our credit rates. How do I go in to a rent to own home? We have two kids and live in a townhouse, now it’s too small for us. What can I do to get a house?
–Anonymous, Clairton, PA
A: Hi Ryan,
I would suggest you sit down with a local lender or attend some first time home buyer classes if they are offered in your community. A lender can review your financial picture and help you come up with a plan to reach your goal. It might take some time, so be patient, you will get there.
Rent to own is usually not a good option for most first time home buyers as usually you have to come up with non refundable option money, which in this market would be better put to use as a down payment (in my opinion)
Teri Andrews Murch is a Realtor® with Lyon Real Estate in Auburn, CA.
A: The only thing you can do at this point is to find an owner that is willing to do a lease with option to purchase. Normally, in this area I am in, the seller normally wants a large payment up front to do so, but in that area, maybe they will just do a first and last like you do with rent. An agent there should be able to help you get started. It may take time to find someone with enough equity in their home that they can do this though.
Lana Lavenbarg is a Realtor® with RE/MAX Ideal Brokers, Inc. in Grants Pass, OR.
A: Rent to own, or lease to own, or rent w/options to buy (essentially all the same) is not the only option to becoming a homeowner. Also, if you did go that route, the options are very limited. Most owner who want to sell their homes are in a position where they have to sell, they need the money to move on so they’re not to keen on renting or leasing their properties. Before exploring the rent to own option, consult with a local lender in your area, get some recommendations from friends who’ve recently bought a house. The Lender will set you on the right path for becoming a homeowner, it may take a few months or even a couple years before you’re ready to buy, but it may also be the very best option and in the meantime you can begin working on saving a 10-20% downpayment.
Maria Jeantet is a Realtor® with Coldwell Banker C & C Properties in Redding, CA
Are you interested in having a qualified REALTOR answer your questions? Click through to Ask a
REALTOR® now.
Are you a REALTOR who would like to answer consumer questions? Click through to become an Ask a REALTOR® participant.
Related posts:
Read more: We Can't Get A Mortgage, What Are Our Other Options? | REALTOR.com® Blogs
We Can't Get A Mortgage, What Are Our Other Options? | REALTOR.com® Blogs
we Can’t Get A Mortgage, What Are Our Other Options?
Q: My wife and I are looking for a house but can’t get a mortgage with our credit rates. How do I go in to a rent to own home? We have two kids and live in a townhouse, now it’s too small for us. What can I do to get a house?
–Anonymous, Clairton, PA
A: Hi Ryan,
I would suggest you sit down with a local lender or attend some first time home buyer classes if they are offered in your community. A lender can review your financial picture and help you come up with a plan to reach your goal. It might take some time, so be patient, you will get there.
Rent to own is usually not a good option for most first time home buyers as usually you have to come up with non refundable option money, which in this market would be better put to use as a down payment (in my opinion)
Teri Andrews Murch is a Realtor® with Lyon Real Estate in Auburn, CA.
A: The only thing you can do at this point is to find an owner that is willing to do a lease with option to purchase. Normally, in this area I am in, the seller normally wants a large payment up front to do so, but in that area, maybe they will just do a first and last like you do with rent. An agent there should be able to help you get started. It may take time to find someone with enough equity in their home that they can do this though.
Lana Lavenbarg is a Realtor® with RE/MAX Ideal Brokers, Inc. in Grants Pass, OR.
A: Rent to own, or lease to own, or rent w/options to buy (essentially all the same) is not the only option to becoming a homeowner. Also, if you did go that route, the options are very limited. Most owner who want to sell their homes are in a position where they have to sell, they need the money to move on so they’re not to keen on renting or leasing their properties. Before exploring the rent to own option, consult with a local lender in your area, get some recommendations from friends who’ve recently bought a house. The Lender will set you on the right path for becoming a homeowner, it may take a few months or even a couple years before you’re ready to buy, but it may also be the very best option and in the meantime you can begin working on saving a 10-20% downpayment.
Maria Jeantet is a Realtor® with Coldwell Banker C & C Properties in Redding, CA
Are you interested in having a qualified REALTOR answer your questions? Click through to Ask a
REALTOR® now.
Are you a REALTOR who would like to answer consumer questions? Click through to become an Ask a REALTOR® participant.
Related posts:
Read more: We Can't Get A Mortgage, What Are Our Other Options? | REALTOR.com® Blogs
Friday, August 10, 2012
Thursday, August 9, 2012
Thursday, August 2, 2012
5 Home Features Young Home Buyers Love | ForTheBestRate.com
5 Home Features Young Home Buyers Love | ForTheBestRate.com
5 Home Features Young Home Buyers Love | ForTheBestRate.com
Selling a home can be contingent on the property's value, condition and desirable features. Depending on the type of home buyer, there are certain features that may help seal the deal.
Here's a list of some popular home options for the younger home buyer.
1. Move-In Ready
A lot of young buyers are busy starting careers or families and will appreciate a home that doesn't need a lot of transition time.
2. Low-Maintenance
Most young buyers are also first-time buyers, which means they won't have much experience in home maintenance. They'll be attracted to a home that runs smoothly, and doesn't require an extensive knowledge of plumbing, electricity or construction.
3. Great For Entertaining
Young, hip homeowners often enjoy an active social life, which means they will be on the lookout for a home that's conducive to entertaining. An open kitchen or a large, screened-in porch are a few great examples.
4. Modern appliances
The generation of young home buyers who are hitting the market now are of the information age. They want "smart" technology, and that doesn't just apply to their phones. High-tech home appliances are big selling points, especially to younger buyers.
5. Convenient location
A home that's situated close to shopping, dining and entertainment is an attractive option for any buyer - but young home buyers will be especially drawn to good locations.
Keep in mind that every home buyer is different. Despite the common similarities in certain buyers, this list may not apply to everyone.
Find information on mortgages that are popular with first time buyers such as FHA loans and USDA rural housing loan programs.
5 Home Features Young Home Buyers Love | ForTheBestRate.com
5 Home Features Young Home Buyers Love
Selling a home can be contingent on the property's value, condition and desirable features. Depending on the type of home buyer, there are certain features that may help seal the deal. Here's a list of some popular home options for the younger home buyer.
1. Move-In Ready
A lot of young buyers are busy starting careers or families and will appreciate a home that doesn't need a lot of transition time.
2. Low-Maintenance
Most young buyers are also first-time buyers, which means they won't have much experience in home maintenance. They'll be attracted to a home that runs smoothly, and doesn't require an extensive knowledge of plumbing, electricity or construction.
3. Great For Entertaining
Young, hip homeowners often enjoy an active social life, which means they will be on the lookout for a home that's conducive to entertaining. An open kitchen or a large, screened-in porch are a few great examples.
4. Modern appliances
The generation of young home buyers who are hitting the market now are of the information age. They want "smart" technology, and that doesn't just apply to their phones. High-tech home appliances are big selling points, especially to younger buyers.
5. Convenient location
A home that's situated close to shopping, dining and entertainment is an attractive option for any buyer - but young home buyers will be especially drawn to good locations.
Keep in mind that every home buyer is different. Despite the common similarities in certain buyers, this list may not apply to everyone.
Find information on mortgages that are popular with first time buyers such as FHA loans and USDA rural housing loan programs.
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