Worldwide Realty Blog
Insights into the world of property ownership from Mark Shuman, CRS.
Fianancing Your Home!
March 5th 2018
- Cash from savings.
- A line of credit from a bank.
- Yes, people have even purchased homes with credit cards.
- If you want to purchase a rental home, and already own a home, perhaps you can obtain a Home Equity Line of Credit (HELOC) on your home.
- Conventional loans are available through banks, credit unions and mortgage brokers: For example, FHA loans, VA loans, perhaps "0 DOWN" loans, etc.
- There are also, "HARD MONEY " loans available from private individuals. The are usually costly, but can be based solely on the value of a home, not on your credit history or your income.
- Owner financing ("rent to own") is also a possibility. If this type of financing can be obtained, you may be able to structure a payment plan more affordable than a payment plan with a conventional lender.
- Sometimes you may be able to purchase real estate with a partner.
Please feel free to contact Mark Shuman, CRS ( Worldwide Realty, LLC) at 828-659-8444, if you would like to discuss financing, etcetera. Thank you.
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