Creative Ways to Finance a Home

• Learn about down payment assistance programs that can help you cover all or part of the down payment. Visit   www.getdownpayment.com, and www.hud.gov.
  
  
  
  
• Inquire about seller financing. Sometimes sellers will agree to finance a part of the purchase price allowing you to repay them with monthly installments as you would pay a mortgage.
  
  
• Try a shared-equity program. Your relatives, friends or other investors may purchase a portion of the property and share in the appreciation when the property is being sold. You, as a home owner, will be making all mortgage payments, property taxes and all maintenance costs while the other investor’s names are on the mortgage.
  
  
• Get a member of your family to cosign on the mortgage.
  
  
• Explore the lease with option to buy possibility. While renting for a year or more, you have the chance to save enough money for a down payment. You can also negotiate that some of your rental fees go towards the purchase price.
  
  
  
• Qualify for a short-term second mortgage. You must have good credit and almost no other debt but this would give you enough money for a larger down payment.
• Ask more than one lender. In today's market there are less mortgage instruments available to all mortgage brokers. When one will say NO, another one will help you buy a home. Don't give up from the first try.
  

Call me for a list of Mortgage Brokers and Lenders in my database.