How To Finance A Home Knowledge Base
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How do you finance your first home flip? Sorry to repeat in another category - just looking to get the most answers: My husband & I may be interested in house-flipping. What we cannot figure out is how seemingly young, median income folks get the financing for the first house. I assume they must get a loan from the bank for the home but what about the money to actually renovate the house? On the home-flipping shows, I've seen renovations cost anywhere from $20k-100k....that's on top of the monthly mortgage they are paying. I can understand a bank risking a loan on you if you've already successfully flipped a house before but for your first one...I just don't see any bank doing that. Please enlighten me. How do first time home-flippers get their financing? To answer Tim's very rude, arrogant response: No, my husband & I aren't thinking of doing this NOW. Yes, we watch the news. Yes, we understand the market. I was just getting some advance research out of curiousity. Nowhere did I say we wanted to do this RIGHT NOW in today's current market.
How do you finance your first home flip? My husband & I may be interested in house-flipping. What we cannot figure out is how seemingly young, median income folks get the financing for the first house. I assume they must get a loan from the bank for the home but what about the money to actually renovate the house? On the home-flipping shows, I've seen renovations cost anywhere from $20k-100k....that's on top of the monthly mortgage they are paying. I can understand a bank risking a loan on you if you've already successfully flipped a house before but for your first one...I just don't see any bank doing that. Please enlighten me. How do first time home-flippers get their financing?
How do ordinary people finance mobile home purchases?? I'm referring to mobile homes that are for sale in mobile home parks. Banks will not mortgage them because they are not considered property unless they are on their own land with a permanent foundation. So when I see these mobile homes in a park for sale at 60K or 80K or 100K .. how the heck do people buy these things? I can't imagine getting a conventional bank loan because the interest would be insane. Does anybody know how an average Joe buys a mobile home??? Yes, I'm talking about mobile/manufactured homes, not RV's lol. I'm not asking for advice on whether I should buy one or not. I'm asking HOW do people buy these things, and afford them? It seems that if you're paying $1000 or more a month for a mobile home loan, why not just buy a house? Just trying to comprehend how folks buy these things, cause they are all over the place where I live (Delaware).
I know - wrong section but please read: How do you finance your first home flip? I know this is in the wrong section. I wanted to put it in several different sections in case people had friends who did house-flipping. My husband & I may be interested in house-flipping. What we cannot figure out is how seemingly young, median income folks get the financing for the first house. I assume they must get a loan from the bank for the home but what about the money to actually renovate the house? On the home-flipping shows, I've seen renovations cost anywhere from $20k-100k....that's on top of the monthly mortgage they are paying. I can understand a bank risking a loan on you if you've already successfully flipped a house before but for your first one...I just don't see any bank doing that. Please enlighten me. How do first time home-flippers get their financing?
How do I display my fund picks on the finance module on my Yahoo home page? Since Yahoo switched me to the new updated home page, my finance module no longer displays my mutual fund updates on the home screen. It only tracks the Dow general numbers. The only way I can see my picks is to click on the finance personal assistant and load this page. On the former home page set-up, this was displayed on the home screen so you could see it all the time. Thanks for any help you can provide.
How do appraisals on a home work, especially ones used to finance a home? I feel that the appraisal on my home may have been fraudulent and improper because the "comps" used to get an estimated value of my home were highly over-inflated homes that were different than my home on several very key points. What is a fair way to appraise a home? Should not a home that lacks a permanent foundation be compared to other homes that also lack this? Or what about appraisals where each "comp" has a 100% increase in sales prices from just two years earlier. We aren't talking suburbia here, but the rural midwest in an area with very minimal population growth? If I find the appraisal is in such error, what is my recourse? Thank you, Racer X
How hard is it to re-finance a home? I recently bought a home at a high rate because of my credit. I have never missed a motgage payment over the last six months, and also I kept up on my car and credit card payments. Is it too early to try to refinance my home? and will I get a better rate so soon
How much will I have to finance on a new home after the price dropped? I signed to purchase a home for $700,000. House will not be done until April 2007. Between now and then, if the prices of the homes drop, will I be obligated to pay what I signed up for or do I only finance what the house is worth at the time? FYI - contract was signed with a builder. You can not qualify for an amount more than the appraised value, shouldn't this be reason for them to take the price down? Also, since it is quickly becoming a buyers market, shouldn't I be able to leverage that and negotiate with the builder? Any suggestions on how I can do that?
How can I finance a home without an appraisal? I recently was the high bidder at a sheriff sale in Stark County Ohio. The owner will not allow anyone on the property for survey or appraisal. All that is available is the 3 court appraisals that were done but they are outside only. I tried conatacting the foreclosing bank and they are of no help. I cannot get the guy out of the property until I complete financing and I cant seem to get financed without the appraisal, any help would be much appreciated
How to finance a home with bad credit? We just paid off our house and property today. We have approx 45,000.00 in equity in the real estate. Our house is 750sq ft. We have a 8yr old daughter and a 6 yr old son. My credit score is around 400 or so. ALot of people around here are building metal buildings and living in them since they are so cheap. We can have a building built and living in for 20,000.00. Thats an open floor plan but with bathrooms. Where can a person in our situation go to get financed. We understand we will be paying high interest rates. We just paid off our house and property today. We have approx 45,000.00 in equity in the real estate. Our house is 750sq ft. We have a 8yr old daughter and a 6 yr old son. My credit score is around 400 or so. ALot of people around here are building metal buildings and living in them since they are so cheap. We can have a building built and living in for 20,000.00. Thats an open floor plan but with bathrooms. Where can a person in our situation go to get financed. We understand we will be paying high interest rates. We dont want to buy from an individual or lease to own. With that much equity, where can you go to borrow against your equity to build a new place to live?
how to finance US home in Japan? Let's say I have home in US and I would like to refinance it with Japanese bank in Japan. How can I do it? Or it is not possible?
How can I find a LEGITIMATE Accounting/Finance/Admin job working from home making at LEAST 35,000 a year? I have a special needs child and we are both going through some life changes. From the way things have been going, I really need to spend more time with her as much as possible. I drive over an hour each way to work because I moved due to apartment safety risks. I am trying to find a REAL job making at least 35K from home using my dedicated cable modem from my computer. I have over ten years of Accounting and Administrative experience. My situation stems from I don't know how to approach it to a company that would think it would be worth THEIR while. Any suggestions/ideas? Thank you!
Recent quotes do not show up on Yahoo Finance home page? My recent quotes box on the right side of the Finance home page does not display any quotes that I have recently looked at using the beta charts. However, if I only view the summary page or classic charts, my recently viewed quotes will show up in the quote box on the Yahoo Finance home page. How can I fix this?
How did you finance being a stay at home mom? My husband and I have quite a few bills (debt) and we are just making ends meet now but I really want to stay home. If you are a stay at home mom, what did you do or cut back on for this to happen? Do you enjoy staying home or regret the decision? Our baby is due in May so I have a little while to figure it out. I'm also a teacher so I will get 3 months off before having to go back to work if that's the case so I really have until August to figure this out, but it can't hurt to start early! :) I really want to be there in the beginning of my son's life..and I'm also concerned about juggling breast feeding w/ teaching! OH and we will have health insurance from my husband's job.
How to finance and build a manufactured home? My husband and I are considering this and we have no idea where to start. Can someone share the process -- do we have to get a bank loan first, then find land ourselves, then choose the home, or what? And can anyone recommend a builder? We're looking to build in or around Levittown, PA. Please help!
Best way to finance home improvements? Bought my house about 7 months ago on a 100% financed mortgage with an unbelievably low interest rate, so I want to avoid refinancing. I don't think i can do a home equity loan because I have little to no equity since i did the 100% finance. Any ideas? I need about 10000 - 15000 for new siding work.
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