Q: I am trying to buy my first home, and would like to know if is there other ways to get financing other than a bank.
?Ralph, Philadelphia, PA
A: Most mortgages come from either mortgage companies, banks or credit unions. They have numerous programs for first time buyers. I would suggest that you call a few and find out what they offer and get pre-approved. Then you can house hunt with confidence and know exactly what you can afford. Private mortgages tend to be more expensive and are not regulated by the government. So if you find someone to give you a private mortgage, I would hire an attorney to look out for your best interest in the process. I hope this helps.
Joan Flood is a Realtor? with Dagmer Chew HomeStead Real Estate Co in Cape May, NJ.
A: Yes, you could try seller financing. That would be where the seller of the home you would like to purchase would loan you the money, he would be the bank. Although, if your reason for not wanting to get a bank loan are for credit issues, the seller would probably also check your credit and employment etc. Also, sometimes your place of employment is affiliated with a credit union that may be able to help you.
Good Luck, Mary Jo
Mary Jo Fiore-Posterli is is a Realtor? with Coldwell Banker Residential Brokerage in Lake Forest, IL.
A: You can borrow from a family member; or some sellers will advertize seller financing available if they are in a position to be able to do that.
Janice Caputo is a Realtor? with Coldwell Banker Real Estate Services in Pittsburgh, PA.
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.
Source: http://rock-n-rollrealestateagent.com/can-i-get-financing-from-somewhere-other-than-a-bank/
packers green bay packers miss america golden globes 2012 lana del rey saturday night live focus on the family giants score
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.