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Can the Buyer Assume My Mortgage?

Assuming a mortgage is the act of taking over someone else’s mortgage debt along with his home. The process goes something like this. The buyer makes a price offer. The seller accepts that offer. But instead of paying the offer price in cash or by mortgage finance, the buyer pays only the seller’s equity and … Continued

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Chair and lamp, wall says owner will carry

Owner Will Carry Loans and Seller Financing

Also referred to as the seller financing or creative financing, Owner Will Carry Financing is an agreement where a buyer finances the acquisition of property through finance advanced by the seller. The amount advanced to the purchaser is included in the purchase price. Normally, this option is more suitable to a buyer who cannot get … Continued

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Single Story large home is lit up against blue sky

House Payment on a $500,000 Mortgage

While there are many variables, we can use the following calculations as a starting point for what the average mortgage payment of a $500,000 house might be. If you were using an FHA loan with a 3.5% down payment and paying 4.35% interest rate on a 30 year loan, your mortgage payment could be around: $2,115.70/mo. … Continued

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How Much House Can I Afford?

The hardest part of the home-buying process is figuring out what is affordable. Some first-time buyers rely on the amount the bank is willing to lend. Others use a lender’s mortgage calculator to crunch a couple of numbers. However, banks are often willing to lend much more than you can afford, and mortgage calculators don’t always tell … Continued

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Get a Will when Buying a House in Las Vegas. Here’s Why..

Buying a house? Congratulations! Now you get to do all sorts of exciting things, like choosing new curtains, planning the housewarming party, making a will… Yes, you read that correctly. For most people, buying a home is the single largest financial investment of their lives. Yet few home owners stop and consider what will happen … Continued

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