One of the most common deterrents to first-time home buyers is the lack of a down payment. However, the home loan industry has practically re-created itself in the last ten years, making it easier than ever to obtain a mortgage, and new mortgage programs are always cropping up.
Some states sponsor loan programs that allow buyers to purchase a home without putting any money down. A parent or other relative can guarantee repayment of ten percent of the loan if the buyer defaults. The only cash needed is for the closing costs, which typically run about three percent of the loan. Parents can also give their children down payment help through a personal note or second trust deed. The terms can be set up for monthly payments or annual payments amortized over a period of time. You could pay the interest only, and have the payoff due when the property is sold.
With so many alternatives, doesn't it make sense to call your real estate agent for a free consultation? You may be closer to home ownership than you think.
What 70-room East Coast mansion was built as a summer home and is known as a "Gilded Age cottage"?
A
Cornelius Vanderbilt's "Breakers" Mansion in Newport, Rhode Island, named for the waves crashing along the cliff that separates the property from the ocean.
Tom Pendergast Prudential Bob Yost- Homesale Services 1680 Kenneth Road York, PA. 17408 Cell Phone: 717-880-2111 Office: 717-793-9678 Direct Number: 717-718-8550 Fax: 717-718-4087 Email: tpendergast@talktotom.com
Tom Pendergast was voted Best Realtor in York County by the readers of the York Newspaper and www.inyork.com. Tom has a team of 7 professionals to serve both buyers and sellers. His team has combined experience of over 100 years and rate in the top 250 of all Realtors Nationwide.
- NUMBER1EXPERT 
