Worldwide Realty Blog

Insights into the world of property ownership from Mark Shuman, CRS.

Fianancing Your Home!

March 5th 2018

Unfortunately, you can't just shake a "MONEY TREE" in order to finance your home purchase. Let us explore some financing alternatives.
Yes, there are several ways to finance a home:
  • 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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Contacts

391 East Court Street,
Marion, NC 28752

(828) 659-8444