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Commercial Real Estate Definitions – From A To M
Commercial real estate is distinctly different from residential real estate. The terminology is very different and here is a list of new terms from A to M.
Commercial Terms
According to Value: The value of the property when computing property...
Condo-Hotels – A New Second-Home Alternative To Time Shares
Condo-hotels have evolved as a better, more reliable second home alternative to time-shares. They are usually attractive, high-rise hotels on the ocean or in other prime locations, and range in price from the mid $200,000s to over 1 million,...
Descriptive Terms In Real Estate Ads – Even More Definitions
If you are buying or selling a home, the chances are good you struggle with the meaning of descriptive real estate terms. Here are explanations and definitions for more terms.
“Living Room” & “Family Room”
When a home has both a living room...
How to Find the Best Home Improvement Loan
If you're looking for the best home improvement loan for your money it can sometimes seem like an uphill climb. You may not know whether the offer that you've received is the best that you can get, or if you should try to find a better offer...
The Ultimate Short Sale Secret
Buying foreclosures can be extremely profitable for real estate investors. However, most of these homeowners are mortgaged to the hilt. They have no equity, and big loan payments. In fact, many actually owe more than the property is worth!
Most...
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An Ideal Way To Purchase Your New Home Without Strict Banking Regulations
You've searched high and low around town looking for that special home for you and your family. Everyone agrees that "this is the one"! Your down payment for the home is large enough, but you know your credit is terrible, or worse, practically non-existent.
It is a given that banks tend to lend money to people who a) have enough cash that they don't need a loan; b) possess good to very good credit.
Another nightmare with having bad credit is the closing costs. On conventional loans designed for individuals with credit problems, closing costs can be considerably higher. The higher interest rate will also cause the monthly payment to increase.
In addition, the percentage of the down payment needed towards the real estate cost will also increase. The required down payment for credit-impaired applicants can easily be 10% to over 20% in some cases.
Based on a $100,000 home, this could easily equal $10,000 to $20,000 in down payment towards the real estate cost-not including closing costs.
Some of you reading this might be thinking aloud, "Yeah, that's just how the system is, right"? Not much can be done about my bad credit.
Although the "system" appears to be working against you, you can still get the dream home you desire.
Fortunately, there are little, but very effective techniques being used by people to establish AAA credit, wipe out debts, and proceed to get the house they want. All in the same time period.
A good idea would be to start with your credit. If you have non-existent credit, you can apply for (and receive) credit cards that will build up your credit score. These credit card
companies report to the major credit bureaus that you've been paying your credit card bills each month.
During this time, you can look for funding programs that would be willing to listen to your situation. They want to help you obtain the funding to purchase that new home you want.
Such funding programs like to work with the seller exclusively, (For Sale By Owner). No bank red tape or real estate agents to turn you down for financing. It's just you, the funders, and the seller.
There are programs out there that can help you, but you must be very careful when choosing one for you and your family. Look for programs that are legal in all 50 states, qualified professionals in their field, and will offer you one-on-one consultations.
In conclusion, you and your family can still receive the American Dream. Just taking these steps outlined above can get you there quicker than you ever thought possible.
About the Author: David M. Rolle' is a Funding Program Franchise Owner.
I am on a personal mission to help provide financing
for those who can't obtain it through the banking system.
For information on funding and to claim your
free special reports, e-mail david@inyourhometoday.com
with R.E. Article in "Subject" line.
This article is copyright (c) 2005 by David M. Rolle' and is
available for reprint in your ezine, website or ebook at
david@inyourhometoday.com.
You MUST agree not to make any changes
to the article and the RESOURCE BOX MUST be included.
Source: www.isnare.com
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