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Real Estate Information |
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Real Estate Financing - Ten Ways
Do you remember when real estate financing meant you saved up enough to put 20% down on a house, and then you got a mortgage loan for the other 80%? Well, you can still do that, but there are many more options now. Here are ten of them. 1. Gifting programs. In some parts of the country, builders fund foundations that give you a portion of the downpayment, so you can get into a home with as little as 3% downpayment from your own pocket. FHA and other lenders have so far approved of or allowed this. 2. No-doc loans. These and "low-doc" loans, meaning no or low documentation requirements, are back, and you can find them through online banks. These are for those of you with bad credit but 20% to 30% to put down on a home. You don't even have to have a job. 3. FHA loans. The Farm Home Administration doesn't actually loan the money, but guarantees your loan for the bank, so they can loan up to 97% of the purchase price, depending on the particular FHA program. 4. VA loans. If you have been in the armed services, have a decent job, and can save two or three paychecks, you can probably get a home with a VA loan. 5. Land contract. Also called "contract for sale" and other names depending on the part of the country you are in, this just means that you make payments to the seller instead of a bank. It's up to you and them to negotiate downpayment amount, interest rate, and the term of the loan. 6. Seller-carried second mortgages. Some banks will allow you to have as little as 5% into a home purchase, but will then only loan you 80%. The seller can take payments on a second mortgage from you for the other 15%. 7. State housing programs. Almost all states have some sort of financing help in the form of a loan-guarantee program or outright loans for low-income buyers. 8. Family loans. It may not be out of charity that a brother or a friend lends you the money to buy a home. A 7% return might look awfully good if their money is sitting in the bank at 2%. 9. Manufacturer loans. Some manufactured-home companies are arranging financing with 5% or less down for their buyers. They must feel their money is secure, since a good modular on a piece of property is nothing like a mobile home on a rental lot. 10. Credit cards. This is a risky one, but if you have a low-interest credit card, you can use it to come up with the downpayment, especially if you can pay it off soon with a coming tax refund, for example. Banks generally won't allow this, but you can combine this with seller financing. Are there more ways to approach real estate financing? You bet. This was just to get you thinking. Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com
MORE RESOURCES: Couple in California surrogate case also faces two lawsuits over real estate business practices NBC News Altadena’s rough real estate market: Slower sales, lower prices, lottery winner plucking up properties Los Angeles Times Real estate magazine reports Les Wexner as Blue Heron buyer The Martha's Vineyard Times Real estate expert warns socialist mayoral candidate could trigger massive NYC exodus - Fox Business Bedrock flexes its real estate portfolio to grow Detroit's tech ecosystem - Crain's Detroit Business Bedrock flexes its real estate portfolio to grow Detroit's tech ecosystem Crain's Detroit Business Canadian psychologist Jordan Peterson sets up shop in the Valley, records show The Business Journals Office real estate wide open in Denver as vacancy rate hits 36 percent Colorado Public Radio NAR Real Estate Forecast Summit National Association of REALTORS® Vail Valley real estate inventory is on the rise VailDaily.com A New Perspective: Here Comes the Groom | Real Estate Insights Piedmont Exedra Let's Talk Business: June residential real estate sales lagging, heritage grants and more Pueblo Chieftain REAL ESTATE | 5221 Little Cedar Lane in West Bend, Wi | By Emmer Real Estate Group Washington County Insider Dawson County weekly real estate transactions, July 18 Central Nebraska Today State lawmaker joins Westport commercial real estate brokerage as vice president Hartford Business Journal Boston Real Estate Times Unveils 2025 Excellence Award Winners: Honoring the Visionaries Shaping New England’s Future Boston Real Estate Times 4 Florida Housing Markets Currently Worse Than Cape Coral Norada Real Estate Investments 5 Essential Tech Tools for Real Estate Agents National Association of REALTORS® Private Credit Surges in 2025 as Real Estate Developers Bypass Banks The World Property Journal What's the most expensive property sold in Rhode Island? July 18 real estate transactions The Providence Journal Property management with an owner’s mindset J.P. Morgan EG Real Estate: 8 New & 10 Sold East Greenwich News New York Housing Market Trends 2025: Is the Tide Turning for Buyers? Norada Real Estate Investments Today’s Mortgage Rates: The States Offering Lowest Rates – July 18, 2025 Norada Real Estate Investments Real estate news: Senior apartments in Tustin sell for $83M; Fullerton Metrocenter snares $118M Orange County Register Los Angeles Water & Power commits $100 to real estate debt Pensions & Investments Real Estate Market Report (June) highlandscurrent.org SRS Real Estate Partners Arranges $4.53 Million Ground Lease Sale of Walmart Property in Deltona, FL citybiz Second car crash into downtown Columbus building prompts owner to again seek demolition The Columbus Dispatch Bridgemarq Real Estate Services® Declares Dividend Yahoo Finance Licking County real estate transfers for June 30-July 4 range from $200,000-$14.6 million The Newark Advocate Corcoran McEnearney Announces Evan Lacopo to Lead the Number One Real Estate Office in Alexandria, Virginia Alexandria Living Magazine Moon Becomes Next Real Estate Frontier, NAR Reports Higher Foreign Investment In US Huntsville Business Journal Banner Real Estate Group Breaks Ground on 334-Unit The Faywell Multifamily Development in The Heart MultifamilyBiz Gravelle advises on current real estate market in Grant County Columbia Basin Herald CBRE Announces Strategic Leadership Appointments Across U.S. & Canada Advisory Business Boston Real Estate Times Mortgage Rates Rise This Week Staying Within a Narrow Range Below 7% Norada Real Estate Investments Operation Pawssible: Greenbrier Humane Society gets a boost from local real estate company Mountain Messenger Mapletree Sells Sun Belt Warehouse Portfolio to EQT Real Estate for $241M Commercial Observer GenesisM Breaks Ground on 154,000-Square-Foot Biomanufacturing Facility in Bedford, MA Boston Real Estate Times July Economist Snapshot: What Will the Big Beautiful Bill Mean for Commercial Real Estate and Housing? Urban Land Magazine AGC MA Announces 5th Annual Building Advancement Externship to Bridge Educators with STEM Construction Careers Boston Real Estate Times Home Buyers: Stop Freaking Out After the Home Inspection National Association of REALTORS® Miami-Dade’s self-storage surge a boom for real estate IslanderNews.com Tips on spotting real estate investment opportunities and avoiding risks, from experts at GR Property Group Community Impact Top Stocks for Real Estate Investment Elite AI Stock Forecasts - Massive wealth growth Jammu Links News SRS Real Estate Negotiates $4.5 Million Sale of Walmart-Anchored Property in Metro Orlando Shopping Center Business LOCAL REAL ESTATE TODAY 7.18.25 KQEN News Radio Stage Point Europe Launches Its RWA Token $SPET, Setting it up as a Bridge Between Crypto and Real Estate Morningstar The Pipeline: Commercial real estate roundup for 7.18.25 Richmond BizSense Stonelake Capital sells dozens of industrial buildings across US for $920 million The Business Journals Hunt Companies Acquires Controlling Interest in Carter, Strengthening Real Estate Development Platform Business Wire Drake Real Estate Partners closes largest fund yet after pivoting to institutions Private Equity Real Estate | PERE Vend Leans Into Verticalisation As Real Estate Revenue Grows 11% In Q2 onlinemarketplaces.com Law firm expands real estate practice with economic development heavy hitter - The Business Journals Law firm expands real estate practice with economic development heavy hitter The Business Journals New plans unveiled for Water Street’s second phase Tampa Bay Times CCI Real Estate Obtains $67M in Construction Financing for Mixed-Use Community at University of Georgia REBusinessOnline Median price for Greater Boston single-family homes surpass $1 million for the first time Boston.com Real estate sales in Jefferson, Bullitt and Oldham counties for Jan. 2-5, 2025 - The Courier-Journal Real estate sales in Jefferson, Bullitt and Oldham counties for Jan. 2-5, 2025 The Courier-Journal |
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