Archive for the ‘Cheap Homes’ Category

Homeownership Tips for Military Personnel

Monday, December 5th, 2011

It is a given fact homeownership is quite expensive and is not for everyone. Of course, there are certain advantages of owning your very own home, one of which is considering it as an investment instead of essentially throwing away your money on rent.

Homeownership Tips for Military Personnel

Now, if affordability is an issue, you will be glad to know those in the service has options which will make homeownership within reach. Consider the following:

1 — Low Down Payment

Typically, homebuyers are usually asked to shell out at least 20 percent of the sale price as down payment before getting approved for a home loan. The good news is the Department of Veteran Affairs agrees to as low as 3.5 percent and sometimes, even zero down payment. You only have to pay extra for the insurance required by the lenders to cover the risks.

The government insures the loan through the VA, Rural Housing Service or Federal Housing Administration. If you have been honorably discharged, on reserve or active duty, you are qualified to take out a home loan insured by the VA.

2 — Homeownership thru HUD

You can also explore the affordable housing options offered by the Department of Housing and Urban Development or HUD. The said department has been helping members in the service as well as their families so they can afford to buy homes. You have plenty of choices from to . There are also instances when the HUD agrees to shoulder the closing costs as well as the agent commission, depending on the initial agreement.

3 — State Housing Finance Agencies

These agencies offer home loans with interest rates well below market levels. In addition to home loan, they can also provide rehabilitation financing and even homebuying counseling, which first timers should take advantage. To be eligible, you need to simply comply with the required documents which will show you belong to low to middle-income families.

– helping you realize your dreams of homeownership.

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Foreclosure Investing: Is It For You?

Wednesday, September 14th, 2011

Without a doubt, the housing market is overflowing with investment opportunities offered by . Sold at just a fraction of their current market values, home buyers and real estate investors alike get to enjoy hefty savings, instant home equity and great return potential. There are so many ways you can profit from such investment including:

Foreclosure Investing: Is It For You?

  • Buy and Re-Sell
  • Buy and Flip
  • Buy and Hold

Of course, even though offers a world of profitable opportunities, the success of your decision to dive into this business endeavor will depend on your readiness. It is therefore only right to find out first if it is for you.

Not for the Faint of Heart

The road toward financial success in foreclosure investing is certainly paved with some rough spots — just like any other real estate investment. You have to keep in mind you will be working with a previously-owned property and buying it “as is”. Obviously, this means a thorough inspection of the property and a good grasp of what kind of repair work will be required. These should be the basis of your decision to buy since you would not want to spend more than what you have calculated at the start.

Patience Required

The key, of course, to enjoying success is finding the perfect foreclosure property. This part of the business will require a lot of patience for you might need to look over many houses before you find the right one. You can choose to attend or depend on online . It does not even end there for you still need to make an offer and negotiate with the seller. Doing due diligence is also necessary such as checking the title.

Why Persevere

Considering the process involved and the things you need to do to ensure success, you might find foreclosure investing a bit more challenging than what you hoped for. But the reason why even foreign investors are scouring the market for good foreclosure deals is the impressive potential to earn a huge profit.

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