Financing

Financial Considerations

The most important consideration in your purchase should be financial. This information is essential to making a wise decision and looking at the right properties for you. No one likes to talk about money, but without it you cannot buy property or make a wise decision about what you can afford.

KNOW ahead of time what you can afford and how much you need to finance, etc. Then look at properties that are in that price range. DO NOT look at properties that you WISH you could afford.

Please be up front with your real estate broker and save a lot of time. Do not stretch your resources and make a poor, and possibly costly, decision. We are here to help you find property that you will be happy with – not get into trouble with.

Pre-Qualifying Guideline

If you have the available cash – you are ready to go! If you need to borrow some of the money you will need to plan the way you will obtain it.

If you own a home, a “home equity” loan is a very good option. The interest rates are reasonable and the interest may be tax deductible. Any other financing will require at least 25% down.

Some of our properties will have owner financing available. The property descriptions on our viewing pages will indicate if owner financing is available. Terms for owner financing will vary some for each property. Most owner financing will generally be 25% down at 10% interest for 7 to 10 years.

You should know how much you have for a down payment and the size of payments that you can handle. This will help in establishing the price range that you should be looking at. Click on the calculator to help figure YOUR OWN loan payment planning!

Plan Ahead

We will be happy to answer your questions whenever possible. Each lending option is different and your bank or financial advisor can advise you on the method of financing that is best for you. You can link to a financial planning and pre-qualification tool that can help you find the “perfect” property within the price range that you can qualify for (if you are going to need financing)!

The link will help you figure out payments and other helpful financial information as well as take you to a valuable resource for your financing with very competitive rates and flexible terms. All of this is available to you in the privacy of your home or office.

We highly recommend that you get pre-qualified by a lender before you start to look at property. Check out our recommended lenders here. This will help to make it a much more enjoyable experience without the worry of not knowing if you can actually qualify for the financing you need and if you have the amount available for the down payment you will need to buy the property you have dreamed of.