 Roomate problem? |
| I recently bought a house on my own. I got a renter to help allivaite the added costs of living. But this current roomate seems to think he "runs the show". He takes things of mine and ... |
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 Will we be able to refinance our home ? |
| We bought our home in Riverside Ca. in 11/05 - we have a 5 years interest only loan - we have 3 years left on that loan. We can refinance at the 5 year point - but with the market the way it's ... |
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| How can you buy a house if you have bad credit?... |
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| Ok, so on zillow.com is says the property is appraised at $125k-149k but I am only paying $84k for the house. I am waiting on my appraisal from the mortgage company. Is this appraisal used to ... |
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 What do you think??????????? |
What do you think of Oklahoma? Is it good or bad place to live, also whats the rent like around there (cheap or expensive). Be as honest as you can.
Additional Details
WOW!!! NOT THE ANSW... |
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 How does buying a home? |
| affect my taxes at the end of the year? Does paying property taxes and home owners insurance have anything to do with taxes?... |
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 Can a person put a lien on a house I've built that I didn't hire directly to do the job? |
| My husband hired this man (Mike) to put vinyl up on two of his houses. Mike subcontracted out the job to someone else (Joe) to do the job. My husband paid Mike for all of the work; however, Mike ... |
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| my fiance lives in arkansas and his landlord wants to charge me rent for visiting him for my 2 weeks holidays and his landlord also walks into the appartment and into his locked room when ever they ... |
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| Im looking to rent a house but i heard that you might have to pay some kind of property tax... i thought that was only if you are buying a house.... |
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busterboo88 | Can I use my own house as a down payment on a piece of investment property if I don't have a large down paymen |
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gottabuylots
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You can cash out the equity in your house to use, but it is unlikely you can use just your house. |
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MN-Mike
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The lending institution will be more lenient with the required down payment and also be more inclined to give you a loan if you have equity in your home and offer it as collateral on the loan.
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bettys
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IF YOU HAVE EQIITY IN IT. YOU WILL HAVE TO REFIANCE |
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Morpheous
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yes, if you refinance and get the cash out towards your downpayment. |
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bestbet77
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Probably yes, it depends how much equity you have in your house. |
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Skip
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The short answer to your question is yes you can. I am taking that by you saying your own house this is the place where you reside presently.
Now the process in which you do this might take awhile. How much equity do you have in your house? If it is sufficient enough to cover the down payment you are ok.
All you have to do is get a mortgage broker that will refinance your house and take the money, after the refinance, to place down on your investment property.
The other thing which I do not recommend is for you to add your house to the investment property this type of adding your property is called a wrap around. If something happens to the investment property you lose both the investment property and your house.
What type of investment property are you seeking? If this is a house for you to rent, your credit score might allow you to finance this property 100%.
Another method is to find out if the owner will carry a second mortgage for you. This might work for you.
I hope this has been of some use to you, good luck.
'FIGHT ON" |
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Judy1
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If you have enough equity in your house, you could probably get a loan against it to make the down payment on the new property. |
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quietwalker
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Not knowing any of the details nor cirmcumstances entailed in the possible purchase, I would say, yes, you can. But one of the best rules of investing in anything is to not risk your home. If you're buying the property directly from the seller without a real estate agent intervening, then you might be able to talk with him/her and find out what that person needs in order to make the sale. Maybe it isn't lump sum cash. Do you know why the seller is getting rid of the property? Is there some pressing condition in his/her life which necesitates the sale? Is cash the only means of payment the seller will consider? There are a hundred questions of this type you can ask that will help you figure out what kind of negotiating room you may have. If a real estate agent is in the middle, then I don't know what information or advice to give you. All I can say now is, "Good luck." |
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kishaloy_bhowmick
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Yes ...if you get refinanced .
Tell me the credit score and the appraisal value of the house . Write to me in details at kishaloy_bhowmick@yahoo.com and i will provide you the best deals that i can have from my lenders .
If my deals are not to that extent well then i would definitely advise you to look for other lenders .
regards,
kish(ph#480.751.4125) |
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