Right now more than ever having funds for a down payment is crucial. A lot of buyers are not creative on how or where to get these funds. They think if there is not enough money in their bank account, they cannot buy a home. This is the lenders and Realtors can help to find funds the buyers did not think about. I tell them they have to want to buy a home more than I want them to buy a home in order for it to happen. I have found they usually have to pull a little money from several sources to make it happen.
Here some I have used to help put buyers in homes. What are your ideas?
1. Retirement accounts
2. Gifts from relatives- even a few hundred dollars from several people add up
3. Sell a car, personal items, have a yard sale, jewelry
4. Ask for the year end bonus early
5. Sell stock
6. Tax refund
7. Insurance refund or borrow against insurance
8. Loan from employer
9. Borrow from children's savings
10. Cash advance on credit card
11. Seller credit on purchase
Please forward other ideas that have worked for you and your clients.
LORI BOWERS
http://www.desertareahousingmarket.com
The Lori Bowers Group
A boutique Real Estate Office, with a full service team to serve all your Real Estate Needs
La Quinta, Palm Desert, Indio, Rancho Mirage, Coachella , Indian Wells and the surrounding Palm Springs Area.
78065 Main St., Suite 107
Old Town La Quinta
La Quinta, CA 92253
Phone: (760)777-8788 • Fax: (760)771-5355
