Financing for Real Estate Plentiful In All Price Ranges, Up to Multi-Millions. Options Abound…

FHA Loans
By: Rob Jordan

If you’re a home buyer, there are great loans available in all price ranges, from the low hundred thousands up through 10 and 20 million dollars. And multiple ways to buy. Here are some options to consider. #1) Zero down payment! If you’re a Veteran (or National Guard or Reserve) you can buy a home for zero down, finance 100% of the purchase price, and the Seller may pay all of your closing costs! And not just on little homes either. Up to $737,000 (depending on the county.) And remember, if you used your VA eligibility previously and sold the house, you still have VA eligibility. It never expires! #2) 3% down payment. Teacher or retired teacher and member of STRS? You can buy for 3% down, and STRS will make an 80% First Trust Deed loan, plus a 17% Second Trust Deed loan, and you don’t even have to make the payments on the 2nd for 5 years!Nice homes too, up to $670,103!
#3) FHA, 3.5% Down. FHA loans used to be a hassle, but no more. In some areas more than half of the new loans are FHA loans. You make a low down payment (all of which can be a gift from a relative), prices up to $729,000, non-occupant co-signers to help credit scores, and sellers can pay up to 6% in closing cost credits. Wow! What’s not to like about FHA loans! #4) Need a Jumbo loan for a larger house? We have loans up to $2,000,000 and $5,000,000 with 5, 7, and 30 year fixed rates, and even some 40 year, interest only loans. With seller financing, a buyer can buy with only 10% down. #5) Buying a luxury estate in the 10 – 20 million dollar range? Let’s see if we can cross-collateralize other assets or securities up to 70% of the purchase price, and let’s consider your personal cash flow rather than just your taxable income. Our Private Banking concierge can present your options.
With prices down, it’s a great time to buy. And there are many attractive buying and financing options to consider. For additional information, contact Rob Jordan, Estate Agent with Sotheby’s International Realtors/Ewing and Associates at 818.237.4425.
EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.