Comments on: Tips For Understanding Real Estate Financing

By: leufiger

leufiger — Sun, 06 Dec 2009 09:20:22 +0000

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: Elwood H

Elwood H — Fri, 04 Dec 2009 20:40:03 +0000

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: Stephanie W

Stephanie W — Thu, 03 Dec 2009 14:11:57 +0000

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.