Comments on: Real Estate Financing – What You Need to Know About Home Mortgages Before You Commit http://www.michigandreamhomeproperty.com/real-estate-financing-what-you-need-to-know-about-home-mortgages-before-you-commit.html Tue, 04 May 2010 16:26:25 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Elwood H http://www.michigandreamhomeproperty.com/real-estate-financing-what-you-need-to-know-about-home-mortgages-before-you-commit.html/comment-page-1#comment-157 Elwood H Sat, 31 Oct 2009 01:30:03 +0000 http://bankratescompared.com/?p=917#comment-157 Lots of lenders offer 100% financing, usually in the form of an 80% first mortgage and a 20% second mortgage. All you need is excellent credit and an income sufficient to support the payments and your other debt. Lots of lenders offer 100% financing, usually in the form of an 80% first mortgage and a 20% second mortgage. All you need is excellent credit and an income sufficient to support the payments and your other debt.

]]> By: leufiger http://www.michigandreamhomeproperty.com/real-estate-financing-what-you-need-to-know-about-home-mortgages-before-you-commit.html/comment-page-1#comment-158 leufiger Fri, 30 Oct 2009 14:41:45 +0000 http://bankratescompared.com/?p=917#comment-158 You would need part of your assets for a down payment, not all. If the property is showing a positive cash flow, with tenants, that will be beneficial. You may be able to obtain 75 to 80 % financing, more or less. You would need part of your assets for a down payment, not all.
If the property is showing a positive cash flow, with tenants, that will be beneficial. You may be able to obtain 75 to 80 % financing, more or less.

]]> By: Stephanie W http://www.michigandreamhomeproperty.com/real-estate-financing-what-you-need-to-know-about-home-mortgages-before-you-commit.html/comment-page-1#comment-156 Stephanie W Fri, 30 Oct 2009 00:10:50 +0000 http://bankratescompared.com/?p=917#comment-156 first off, never buy a home that you cannot afford... your payments will go up every year due to taxes , for instance me and my husband bought a house at $101,000. our payments when we first moved in, with escrow included and a 6% intrest rate... were $701... now, only after living here 3 years, our payments are $968, and we recieved a letter saying that starting this coming july.. we are getting another increase.... and we do not have any fluctuating rates or antyhing... just all do to taxes... so... just be careful. always go for a home that you know you can well afford, because as the years go on, it wil increase by hundreds... but good luck anyways... try going to a bank for financing and see where they stand with you, because they are the hardest to try and get loans from.. but good luck. first off, never buy a home that you cannot afford… your payments will go up every year due to taxes , for instance me and my husband bought a house at $101,000. our payments when we first moved in, with escrow included and a 6% intrest rate… were $701… now, only after living here 3 years, our payments are $968, and we recieved a letter saying that starting this coming july.. we are getting another increase…. and we do not have any fluctuating rates or antyhing… just all do to taxes… so… just be careful. always go for a home that you know you can well afford, because as the years go on, it wil increase by hundreds… but good luck anyways… try going to a bank for financing and see where they stand with you, because they are the hardest to try and get loans from.. but good luck.

]]> By: huberrobert@sbcglobal.net http://www.michigandreamhomeproperty.com/real-estate-financing-what-you-need-to-know-about-home-mortgages-before-you-commit.html/comment-page-1#comment-159 huberrobert@sbcglobal.net Thu, 29 Oct 2009 09:05:36 +0000 http://bankratescompared.com/?p=917#comment-159 one point is one percent of the loan amount. (eg 1 point on a 100,000 loan is 1,000) They are used to calculate the cost for a variety of items. - brokers fees - origination fees - lowering the interest rate - etc one point is one percent of the loan amount. (eg 1 point on a 100,000 loan is 1,000)

They are used to calculate the cost for a variety of items.
- brokers fees
- origination fees
- lowering the interest rate
- etc

]]> By: hensleyss http://www.michigandreamhomeproperty.com/real-estate-financing-what-you-need-to-know-about-home-mortgages-before-you-commit.html/comment-page-1#comment-155 hensleyss Wed, 28 Oct 2009 09:53:54 +0000 http://bankratescompared.com/?p=917#comment-155 I also had poor credit, but bought my first home last year. I went through a broker, instead of just getting a real estate agent. He was able to find a bank that would give me a "statement loan". That is where I had the money, just not the credit. They used my bank statements from the past year and seen that I had enough money to make house payments, and I was even able to get first time home buyer program, 0 money down, and the sellers paid the closing costs. There are ways, but my best way was to go through a Broker, who was able to help me tremendously! I also had poor credit, but bought my first home last year. I went through a broker, instead of just getting a real estate agent. He was able to find a bank that would give me a "statement loan". That is where I had the money, just not the credit. They used my bank statements from the past year and seen that I had enough money to make house payments, and I was even able to get first time home buyer program, 0 money down, and the sellers paid the closing costs. There are ways, but my best way was to go through a Broker, who was able to help me tremendously!

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