by maria | Sep 6, 2016 | Exclusive QA |
It depends who you negotiate with. Some lenders are willing to haggle on both the loan rate and the number of points, but this is not typical among more established lenders. This is why it pays to shop around for the best loan rates. And know the market so that you...
by maria | Aug 31, 2016 | Exclusive QA |
A lease option is an agreement between a renter and a landlord in which the renter signs a lease with an option to purchase the property. The option only binds the seller; the tenant has a choice to make a purchase or not. Lease options are common among buyers who...
by maria | Aug 31, 2016 | Exclusive QA |
Also known as a purchase money mortgage, it is when the seller agrees to “lend” money to the buyer to purchase and close on the seller’s home. Usually sellers do this when money is tight, interest rates are high or when a buyer has difficulty qualifying for a...
by maria | Aug 31, 2016 | Exclusive QA |
It is a short-term bank loan of the equity in the home you are selling. You may take out a bridge loan, or interim financing, to help with a knotty situation: closing on the home you are buying before you close on the property you are selling. This loan basically...
by maria | Aug 31, 2016 | Exclusive QA |
A reverse mortgage is an increasingly popular option for older Americans to convert home equity into cash. Money can then be used to cover home repairs, everyday living expenses, and medical bills. Instead of making monthly payments to a lender, the lender makes...