Re: Is the housing market gonna crash again?
Posted by:
Frank Fucker
()
Date: April 25, 2021 11:26AM
4vpjk Wrote:
-------------------------------------------------------
> KISS Wrote:
> --------------------------------------------------
> -----
> > People overthink real estate in this area. It
> > isn't that hard. If you qualify for an FHA
> loan,
> > you can go that route. If you make $70-80K, you
> > can buy a reasonable amount of home in our
> area.
> > My wife and I make about $130K combined and
> were
> > able to purchase a $600K home in Sterling with
> not
> > even 3% down. This of course was after losing
> out
> > on 4 other homes before. It can be done.
>
>
> Part of the reason you lost out was because you
> were using FHA financing and only putting 3% down.
> A client of mine who bought with 100% VA
> financing had a hell of a time even getting
> sellers to look at his offers. Whether there is a
> financing contingency or not, anything other than
> an all-cash sale is going to be contingent upon
> financing. If problems should arise with low down
> payment loans it kills the deal. With larger down
> payment loans the seller can be reasonably assured
> the buyer can find another lender to make the
> loan.
That's probably why he was able to buy in Sterling, which is being renamed to Northern Guatemala next year.