|
|
Buyers Remorse >First Time Loans
Most first-time buyers can qualify for a mortgage loan, but they may need help from parents to make the down payment or closing costs on their home. There are loan programs that minimize the down payment and closing costs for first-time buyers. These programs usually require that 3 to 5 percent of the purchase price come from the buyers' funds, not from a loan or gift. Most lenders ask for the last three months' bank records. The borrower will be asked to reveal the origin of any large deposits. If the money comes from the homebuyer's parents, the lender may not consider those funds when qualifying the buyers.
Parents who are planning to help their children finance a home should transfer any funds several months before the house-hunting process begins. If it is a loan rather than a gift, a formal re-payment agreement should be drawn up between parents and children to eliminate potential misunderstandings or future complications with either estate.
|
| Q |
What is the busiest airport in the world?
|
| A |
According to the Airports Council International, the Hartsfield International Airport in Atlanta, Georgia is currently the busiest airport in the world, serving 76.87 million passengers per year. |
 See More Real Estate Trivia > |
|
|
Desert Premier Realty Group
US Preferred Realty
1255 West Baseline Rd., Suite 182
Mesa, AZ 85202
Phone: 602-476-2727
Fax: 602-325-4935
DesertPremierRealty@gmail.com
Experienced Realtors serving the entire Valley!   
www.DESERTPREMIERREALTYGROUP.com
is brought to you by Desert Premier Realty Group, real estate for
San Tan Valley, Queen Creek, Gilbert, Chandler, Tempe, Mesa, Greater Phoenix and Arizona, Arizona
Read Desert Premier Realty Group's
Privacy Guarantee,
Terms of Service,
and
Free & Without Obligation Pledge
|
© Homes Media Solutions™, a division of Dominion Enterprises and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
