Buying or Selling a Home/Buying a house in SD

Advertisement

Expert: - 7/9/2008


Question
I am working in SD and my wife is in school in another state. We plan to buy a house at where I am. We want to take advantage of SD first time house buyer benefit (Lower mortgage rate), but our combined income exceeds the limit. If I buy it by myself, my income will be within that limit. Can I buy it alone without my wife?

Answer
Hello-

It's really depends on who's offering the lower rate and what the rules are.  In most areas, you can't buy a house without putting your wife on the mortgage, and if she's on the mortgage, generally she's on the deed.  But that's just basic situations.  You would need to ask the sponsors of the program what the conditions are.

Sincerely,

Matt Heisler


Matthew D. Heisler
Heisler & Mattson Properties
-------------------------------------------------
508.925.4626 (o)
617.755.3190 (c)
matt_heisler@heislerandmattson.com
http://www.bjheisler.com

Buying or Selling a Home

All Answers

Answers by Expert:

Ask Experts

Volunteer

Matt Heisler

Expertise

I can answer questions about buying or selling your home, and questions about the market in Massachusetts, with detailed answers if you ask about my specific area in Mass, Metrowest. I can help with Investment property and the basics of financing. How to construct deals and how to find bargains and how to protect capital. Land, home sales, rehabs, fix and flips, income property are places where I could be able to assist you. I can also answer basic questions about foreclosure, short-sales, 1031 exchanges, and basic questions about how the economy and credit markets are functioning and how that affects you.

Experience

My company sells residential real estate in Metrowest, and we have had a been selling real estate in the area for 20 years. My Blog can be read at Real Estate Sales in Massachusetts

Organizations
Southborogh Rotary

Education/Credentials
Vanderbilt University BA

Past/Present Clients
My client list is private.

©2012 About.com, a part of The New York Times Company. All rights reserved.