Realtor · Gilroy, CA · Member since 2016 · 255 posts · 72 votes
If you're planning to buy or sell a house, here's a useful Realtor tip.
If you're a seller and your home has a low-interest FHA financing, you may be able to sell your home for a higher price. This is because FHA loans are assumable, which means that a potential buyer is willing to pay a higher price for a home if they can take over the existing low-interest rate mortgage.
On the other hand, if you're looking for a home to purchase, try to find a home that has an FHA loan.
This can be beneficial for both buyers and sellers and can result in a win-win situation.
Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
2y
The real trick is how to bridge the equity gap. If a buyer has cash, that works, or owner willing to take back 2nd....but I've had trouble finding a lender who will take a 2nd on the gap. How about you?
The real trick is how to bridge the equity gap. If a buyer has cash, that works, or owner willing to take back 2nd....but I've had trouble finding a lender who will take a 2nd on the gap. How about you?
I have a loan broker who can help with 2nd position mortgages and I would only look for properties with high loan balances to avoid that scenario altogether.