With affordability at an all time high, the number of investors and international buyers taking advantage of bargains has pushed the number of all-cash purchases to a record high, and some experts predict that number will only grow higher.
A record 33 percent of existing-home sales were made to cash buyers in the last month of record, according to the National Association of Realtors. The portion of cash deals could hit 40 percent by the end of this year, predicts Thomas Popik, research director for Campbell Communications in Washington, which conducts monthly surveys of 3,000 real estate brokers.
But it's not just investors moving in: Many of these cash deals are also coming from a growing number of international buyers. About 55 percent of international buyers paid cash for their U.S. homes. according to a report by NAR.
*Old Republic National Title Insurance Co.
Showing posts with label lehigh acres. Show all posts
Showing posts with label lehigh acres. Show all posts
Thursday, July 7, 2011
Thursday, April 14, 2011
Can You Really Buy a HUD Home for $100?
Can you really buy a HUD home for a total of $100?
Absolutely not! But if you're a qualified buyer, you can use an FHA loan to buy one of HUD's specifically designated homes for sale -- with only a $100 down payment!
For a limited time, $100 down payments are available to owner-occupied home buyers when purchasing a HUD home for full price and using an FHA-insured new home loan.
This is a national program, and there are qualifying homes in every state. We showcase only a few homes here on our site; if your town is not listed, tell us about yourself on our pre-qualification page and we'll get back to you with a custom list of homes in your area.
$100 Down Payment Rules & Regulations
First, visit a Realtor that is licensed to sell HUD homes in your area. Below are the rules for buyers as specified by HUD:
The home you purchase must be your primary residence and you must live there at least one year.
You must offer HUD's full asking price.
You will have to obtain an FHA-insured loan that has a fixed rate for either 15 or 30 years.
Your debt to income ratio must be 31%/43% or less.
The maximum amount of the loan can't exceed $362,790.
You must have a credit score of 620 or higher and if you have had a recent bankruptcy, it must have been discharged at least 24 months prior to your HUD home purchase.
You must have two years of employment history.
FHA mortgage insurance must be rolled into your loan.
This offer is good on owner-occupied purchases only meaning you must use the home as your primary residence and can be used on single-family homes, condos, and town homes. This offer is not available for investors who wish to buy and rent out a HUD home.
For more information contact Jones & Company, Erik Elsea at 239-405-4063
Absolutely not! But if you're a qualified buyer, you can use an FHA loan to buy one of HUD's specifically designated homes for sale -- with only a $100 down payment!
For a limited time, $100 down payments are available to owner-occupied home buyers when purchasing a HUD home for full price and using an FHA-insured new home loan.
This is a national program, and there are qualifying homes in every state. We showcase only a few homes here on our site; if your town is not listed, tell us about yourself on our pre-qualification page and we'll get back to you with a custom list of homes in your area.
$100 Down Payment Rules & Regulations
First, visit a Realtor that is licensed to sell HUD homes in your area. Below are the rules for buyers as specified by HUD:
The home you purchase must be your primary residence and you must live there at least one year.
You must offer HUD's full asking price.
You will have to obtain an FHA-insured loan that has a fixed rate for either 15 or 30 years.
Your debt to income ratio must be 31%/43% or less.
The maximum amount of the loan can't exceed $362,790.
You must have a credit score of 620 or higher and if you have had a recent bankruptcy, it must have been discharged at least 24 months prior to your HUD home purchase.
You must have two years of employment history.
FHA mortgage insurance must be rolled into your loan.
This offer is good on owner-occupied purchases only meaning you must use the home as your primary residence and can be used on single-family homes, condos, and town homes. This offer is not available for investors who wish to buy and rent out a HUD home.
For more information contact Jones & Company, Erik Elsea at 239-405-4063
Tuesday, July 6, 2010
Deciphering a Good Faith Estimate
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5 Tips for Deciphering Your Home Loan’s Good-faith Estimate
Knowing how to read your good-faith estimate can help you save money on your home loan. Read
Visit houselogic.com for more articles like this.
Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®
Wednesday, June 30, 2010
Fielding a Lowball Offer on Your Home
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(New!)
Fielding a Lowball Purchase Offer on Your Home
Consider before you ignore or outright refuse a very low purchase offer for your home. A counteroffer and negotiation could turn that low purchase offer into a sale. Read
Visit houselogic.com for more articles like this.
Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®
Tuesday, June 22, 2010
Six Reasons to Reduce Your Home Price
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6 Reasons to Reduce Your Home Price
While you’d like to get the best price for your home, consider our six reasons to reduce your home price. Read
Visit houselogic.com for more articles like this.
Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®
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