Part 3 of “HOW TO STOP PAYING RENT AND OWN YOUR OWN HOME” is offered by the Lerew Brothers Realtors/Brokers of the Wake Forest North Carolina and surrounding areas.
3. You may be able to find a seller to help you buy and finance your home.
Some sellers may be willing to hold a second mortgage for you as a “seller take-back.”
In this case, the seller becomes your lending institution.
Instead of paying this seller a lump-sum full amount for his or her home, you would pay monthly mortgage installments.
4. You may be able to create a cash down payment without actually going into debt.
By borrowing money for certain investments to a specified level, you may be able to generate a significant tax refund for yourself that you can use as a down-payment.
While the money borrowed for these investments is technically a loan, the monthly amount paid can be small, and the money invested in both home and investment will be yours in the end.
5. You can buy a home even if you have problems with your credit rating.
If you can come up with more than the minimum down-payment, or can secure the loan with other equity, many lending institutions will consider you for a mortgage.
Alternatively, a seller take-back mortgage could also help you in this situation.
More of this topic provided in the next few days.
Contact Scott Lerew at (800) 807-0011, The Lerew Brothers Realtors, serving the Wake Forest, Raleigh, Wake County and surrounding areas for buyers and sellers and their real estate needs.
Give us a call at 800-807-0011 for more information or more special reports designed to assist Home Buyers…
More from the Lerew Brothers Realtors your local Wake Forest Area and Wake and Franklin County North Carolina Realtors in our next excerpt of our blog designed to assist our buyer clients.
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