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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: Cambridge is the worst city in New England for first-time homebuyers, study says. Where’s the best? The Boston Globe Blackstone's Wesley LePatner, a mentor to women and real estate investing leader, killed in NYC office shooting Business Insider The real estate market: 5 key themes to watch this week Real Estate News by RealEstateNews.com Real estate: Condo prices rise in Indian River County; fall in Martin, St. Lucie counties Treasure Coast News Troy Furbay has been appointed Managing Director, Hospitality at Crescent Real Estate LLC Hospitality Net ‘Walking beside him’: Daughter continues stepfather’s real estate dream Mountain Home Observer Richland County property transfers recorded July 21-24 Mansfield News Journal I-78/I-81 Corridor commercial real estate activity picking up Lehigh Valley Business Double digit price increases for Putnam real estate Mid Hudson News Real Estate Expert Jody Wainio of Buyers Choice Realty Shares Advice on Mortgage Pre-Approvals in HelloNation GlobeNewswire RE/MAX revenue continues to slip despite agent gains Real Estate News by RealEstateNews.com Haag-Brown Commercial Real Estate to open Bentonville office Talk Business & Politics US industrial real estate investor Terreno sells $82m portfolio IPE Real Assets Alex MacWilliam of Alex MacWilliam Real Estate in Vero GlobeNewswire Inside Zillow’s summer launch: 5 new tools built for agents - Real Estate News by RealEstateNews.com Inside Zillow’s summer launch: 5 new tools built for agents Real Estate News by RealEstateNews.com Executive Killed in Manhattan Shooting Was CEO of Blackstone's $53 Billion Real Estate Megafund Realtor.com Anywhere revenue inches up despite ‘weird’ housing market Real Estate News by RealEstateNews.com Real estate transfers: 7/30 Toledo Blade Leading Arizona Real Estate Team JBRE Joins Real Brokerage, Bringing $310M Sales Portfolio Stock Titan Real Estate Transactions | July 14-18, 2025 Republic-Times Real estate office renovating former daycare The News-Enterprise Exclusive: Apple to buy another Silicon Valley campus for $365 million San Francisco Chronicle News | UK commercial real estate investment slips slightly to £10 billion in second quarter - CoStar Ledge Road property in Newport sold for $3.3 million tops latest Newport County sales Newport Daily News Christie’s Debuts Crypto Real Estate Division The New York Times Real estate trends highlighted Morrow County Sentinel Los Angeles Area Wildfires Destroyed Nearly $52 Billion in Homes Last January The World Property Journal What’s Rising Across the Upstate? Updates on 7 Real Estate Developments Upstate Business Journal Santa Monica Ranks Second Most Expensive for Rentals as Real Estate Market Shows Mixed Signals Santa Monica Daily Press Atlanta real estate tycoon Tom Cousins has died at 93 Rough Draft Atlanta Easton home on Sierra Drive that sold for over $1M 'epitomizes one-of-a-kind luxury' Enterprise News Population Growth in England and Wales: A Boon for Real Estate and Social Infrastructure Sectors AInvest Hamptons Real Estate Market Data – Week of 7/22/2025 Hamptons.com Boardwalk Real Estate: Q2 Earnings Snapshot San Antonio Express-News With The Enolia, MCB Real Estate reinvents the residence hall for Morgan State University Baltimore Fishbowl Blackstone’s LePatner killed in NYC shooting Private Equity Real Estate | PERE RealPage buys Rexera, maker of 'AI agents' for real estate deals The Business Journals Apollo Commercial Real Estate Finance, Inc. Reports Second Quarter 2025 Financial Results Quiver Quantitative One of the world’s largest luxury real estate firms wants to help you buy a house — with crypto New York Post Judge sides with LGBTQ+ Alliance in battle with ex-CEO Real Estate News by RealEstateNews.com Commercial Real Estate Still Has a Software Problem Commercial Observer The Future of AI in Real Estate Valuations: Understanding Tomorrow’s Appraisal Standards Appraisal Buzz WeWork Wants You to Know It’s a Grown-Up Real-Estate Firm Now The Wall Street Journal Real estate: Home prices climb in Martin, Indian River counties; fall in St. Lucie County Treasure Coast News 18 months later, Blackstone still sees real estate comeback ahead Private Equity Real Estate | PERE NexPoint REIT Offers Shareholders Choice in $0.15 Distribution: Cash or Stock Payment Options Stock Titan Virgin Hotels Chicago Flagship Sold in Strategic Deal Amid Timeshare Real Estate Shift – What You Need to Know Travel And Tour World |
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