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Buying or Selling a Home/Financing
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Question
QUESTION: How can i roll some bills into my home loan
ANSWER: I assume you want to figure out how to pay off some of your other bills using a home loan. If you have enough equity built into the home you can refinance your home for a higher amount than you currently owe and get a little money out of the home or use an equity loan. Lenders are specific about these loans and have sometimes have certain criteria about what you can use the money for. My suggestion is to call the lender with whom you have your current mortgage to discuss what you would like to do, how much money you need, etc.
~Jessica Bryan
---------- FOLLOW-UP ----------
QUESTION: What I was thinking is buying a home and combine two bills into the loan is that possible.
Hello Garry;
When buying a home the appraisal is for amount that the home is worth. The lender then agrees to make the loan for the amount requested based on the value of the home. So, for example if you ask for a 100 percent loan on a home that is $200,000 that is all you will get. Let's say you want to borrow an additional $10,000. You might have to hold on to the home for a while and wait for the value of the home to go up to $210,000 or for a time when you have paid off enough of the loan to equal the amount you are borrowing. It is only when there is additional equity that you can sometimes wrap a few bills into the deal.
~Jessica Bryan
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Jessica Bryan
Expertise
buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.
Experience
Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.
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