Sentences with phrase «enough equity in the house»

Home Sale - If there is enough equity in the house to cover selling costs, selling the property may be an option to consider.

Or you could use your homeowner's line of credit to finance the entire purchase, if you had enough equity in your house.

Getting a second mortgage is fairly easy if you have enough equity in your house.

In other words, you get a pass on not having enough equity in the house, which is not that huge a concession given that you already owe the money to Fannie / Freddie.

Our plan is to build up enough equity in the house to eventually get a conventional loan on our next home.

To qualify for either, you have to have strong credit, qualifying income, and enough equity in your house to borrow against.

If you do end up having to pay for PMI, make sure it stops as soon as you've gained enough equity in your house through your mortgage payments to be eligible (see How To Get Rid Of Private Mortgage Insurance).

Seniors who opt for these loans must have enough equity in their house, and they must still carry responsibility for property taxes, homeowners insurance and any maintenance the property requires.

If you have enough equity in your house, we may be able to list your house for sale and you can move on.

Couples need to be sure that there is enough equity in the house to be able to afford paying a realtor commission.

With enough equity in the house and some motivation based on their financial circumstances, this has all the right elements for a deal.

Not exact matches

«One of the main purposes of the SBA was to allow people to buy a business who might not qualify for a traditional loan, but now if you want to buy a $ 2 million business and your house only has $ 500,000 in equity, that's not enough,» he said.

Of course, there are times when people selling their homes to downsize are fortunate enough that the house that they are selling has more equity than what they are buying, but unless you're in a market bubble, that scenario is the best we can hope for.

Other economists don't agree that you need $ 350,000 to be considered rich, however an amount of money that exceeds $ 200,000 per year is enough for a family to lead a more than comfortable lifestyle; this means having the chance to live in a big house, send the kids to private schools, have enough money to travel internationally, own at least 2 cars, and have no debt except a mortgage which will help them build equity.

In mid-2020 (retirement), I expect to have enough equity in our current NoVA home (~ $ 200k equity) to be able to buy a similar house nearly outright (if there's a small mortgage, that might be okay) in a far cheaper locatioIn mid-2020 (retirement), I expect to have enough equity in our current NoVA home (~ $ 200k equity) to be able to buy a similar house nearly outright (if there's a small mortgage, that might be okay) in a far cheaper locatioin our current NoVA home (~ $ 200k equity) to be able to buy a similar house nearly outright (if there's a small mortgage, that might be okay) in a far cheaper locatioin a far cheaper location.

On the subject of wage inflation, Rudolph - Riad Younes recently noted, correctly I think, that in recent years, «wages, plus equity withdrawal from your house, was enough to support your living standard.

Credit card companies can take your house if there is enough equity in the real estate to make business sense.

Not having enough equity will affect you during a housing downturn, like the one we had in 2008.

For someone with little or no equity in their house, it could be enough help to get their head above water and keep their home.

Construction Loan... my husband and I are in a position to buy 2 lots of property fairly cheap... we have high debt to income ratio... would the equity in our houses and the rent we could obtain be enough to qualify for a construction loan...

Assuming your equity in that house is > $ 70K + transaction fees, you'd have enough for the downpayment, and all the transactions would be quite conventional.

Combined with a minimum 5 % down - payment, and it doesn't take much of a move downward in house prices at all for that person to find themselves in negative equity (or effective negative equity, where their equity is not enough to allow them to sell the house and cover closing costs without finding additional funds).

Because of the decline in housing locally, many existing homeowners simply do not have enough home equity to qualify for a mortgage refinance loan with a conventional lender.

In 1999 we bought our second house and this time we bought it with 25 % down so we were able to get a home equity line of credit (which I think is a great tool if you are disciplined enough to use it properly).

But the fact I was lucky enough to sell my house in a raging bull market and invest the equity in the market isn't one of them.

Obviously using the equity in your home is a good bankruptcy alternative, because in a personal bankruptcy with enough equity you may lose your house.

But, after three years of payments, the house would be worth $ 103,000 and the loan balance would be about $ 32,000, leaving about $ 65,000 of equity in the house, which might be enough that the lender would no longer care about having a guarantee since the roughly 31 % loan to value ratio would be so much lower than the 80 % loan to value ratio in place initially.

If you're wondering if you have enough equity to sell your house and move on to your dream home, let's get together to discuss conditions in our neighborhood!

«As active as the market is with the product that we have today, we are looking at the tip of the iceberg in terms of boomers hitting retirement age,» says Scott Stewart, a managing partner at Capitol Seniors Housing, a private equity - backed real estate acquisition, development and investment management firm based in Washington, D.C. «The fast - paced growth of that population in that sector is going to make today's discussion of overbuilding obsolete, because there just aren't enough places for everybody today,» he says.

We've capitulated and agree that finding a house with land big enough for me to use the equity in my existing house to build a small guest house to rent out may be the best option.

Qualifying can be easier than for a conventional mortgage — You must meet the age requirements, have enough equity in your home, live in the home as your primary residence, the home must meet FHA property standards, and you must meet financial eligibility criteria as established by the U.S. Department of Housing and Urban Development (HUD).

in no time you'll have enough money to do an equity line for another house!

Is the equity you've built in that time really substantial enough to trade up to two houses, or a more expensive house?