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Mississippi Real Estate
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Hernando, Olive Branch, Southaven, Nesbit & Walls in Desoto County
Mississippi
Also Tate, Tunica and Marshall Counties |
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No Money Down
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Q: |
Are there
no-down payment home loans? |
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A: |
Though some
real estate experts advise against it, home buyers
interested in buying a house with nothing down can do
so. Occasionally, a builder will offer no-down-payment
loans to induce sales in an otherwise slow-moving
project. Desperate sellers will also promise to finance
the down payment to get out from under a property. A
veteran can buy a house with nothing down through a VA
home loan, as can members of some pension funds
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Q: |
What about
nothing down? |
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A: |
Though some
real estate experts advise against it, home buyers
interested in buying a house with nothing down can do
so. But it's not easy finding these loans and in some
cases they can be risky. Occasionally, a builder will
offer no-down loans to induce sales in an otherwise
slow-moving project. Desperate sellers also may agree to
finance the full purchase price to get out from under a
property. The Department of Veterans Affairs, or VA,
loan program is one program that allows buyers to
qualify for a no-down loan. |
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Q: |
Is equity
sharing a good idea? |
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A: |
Equity sharing
is not as popular in a slowly appreciating real estate
market as in a rapidly appreciating one (when equity
investors are easy to find).
Nevertheless, a form of equity sharing called
tenants-in-common partnerships is becoming more popular,
particularly in high-priced markets. First-time buyers
are the most interested in TIC arrangements because it
gives them a way to buy property collectively with an
unrelated partner.
Loan underwriting standards are more complicated in
TIC deals because lenders have more than one party's
financial situation to assess. But many standard loan
programs do apply. |
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Cara O'Bryant Realtor Associate Licensed
in Mississippi & Tennessee 901-212-0047

 Bob Leigh & Associates Realtors, LLC
6900 Cobblestone Blvd
Southaven, MS 38672
662-890-9696
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