Suggestion #4
[/et_pb_text][et_pb_text admin_label=”Text” _builder_version=”3.27.4″ text_font_size=”40″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” text_font_size_tablet=”” text_font_size_phone=”35″ text_font_size_last_edited=”on|phone” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]Know How Much Equity You Have In Your Home[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Section” _builder_version=”3.22″][et_pb_row admin_label=”Row” _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” column_structure=”1_2,1_2″][et_pb_column type=”1_2″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_image src=”https://cindybanksteam.com/wp-content/uploads/2018/05/equity_icons-01.png” align=”center” align_tablet=”center” align_last_edited=”on|desktop” admin_label=”Image” _builder_version=”3.23″ max_width=”50%” animation_style=”slide” animation_direction=”left” animation_duration=”500ms” animation_intensity_slide=”10%” use_border_color=”off” border_color=”#ffffff” border_style=”solid” animation=”left” sticky=”off” always_center_on_mobile=”on”][/et_pb_image][et_pb_text admin_label=”Text” _builder_version=”3.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]
NET SHEET: Cindy Banks recommends that you have a mortgage consultation with a detailed selling expense net sheet to fully understand what costs are associated with buying and selling. Our Team Member, Tony Banks can provide that for you. Click here to view an example of a net sheet.
[/et_pb_text][/et_pb_column][et_pb_column type=”1_2″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_image src=”https://cindybanksteam.com/wp-content/uploads/2018/05/equity_icons-02.png” align=”center” align_tablet=”center” align_last_edited=”on|desktop” admin_label=”Image” _builder_version=”3.23″ max_width=”50%” animation_style=”slide” animation_direction=”left” animation_duration=”500ms” animation_intensity_slide=”10%” use_border_color=”off” border_color=”#ffffff” border_style=”solid” animation=”left” sticky=”off” always_center_on_mobile=”on”][/et_pb_image][et_pb_text admin_label=”Text” _builder_version=”3.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]APPLY ONLINE: To receive the most comprehensive services go to www.cindybanks.com/mortgage and apply online NOW for free. We provide links to current exceptional lenders. You will receive a complete loan analysis with a detailed net sheet so that you may fully understand your options.
[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Section” _builder_version=”3.22″][et_pb_row admin_label=”Row” _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”3.27.4″ text_font=”Open Sans||||” background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_padding=”20px|20px|20px|20px” custom_padding_tablet=”” custom_padding_phone=”” custom_padding_last_edited=”on|” border_width_all=”2px” border_color_all=”#e0e0e0″ border_style_all=”solid” use_border_color=”on” border_color=”#e0e0e0″ border_width=”2px” border_style=”solid”]Even If You Are Left With Little or No Equity (After Your Home Sells) You Can Still Buy A Home With As Little As 3.5% Down! Plus Conventional Loan Lender Paid Mortgage Insurance can mean that you don’t have to pay PMI!While the FHA Gifted Down Payment (Seller Paid) programs are on hold right now, FHA does allow for a minimum 3.5% down payment on loan amounts up to $410,000 … even with credit scores in the 5OO’s!
FHA Loan Max Mortgage for Most Counties (Last Revised 2008)
[one_fourth]One Family $410,000[/one_fourth][one_fourth]Two-Family $524,850[/one_fourth][one_fourth]Three Family $634,450[/one_fourth][one_fourth_last]Four Family $788,450[/one_fourth_last] [/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Section” _builder_version=”3.22″][et_pb_row admin_label=”Row” _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”3.27.4″ text_font=”Open Sans|on|||” text_text_color=”#e02b20″ text_font_size=”20″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]If You’re Worried That Your Home Isn’t Worth What You Paid For It!
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Keep in mind that the home you want to buy is worth less too.
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In a weaker real estate market, where values are down 10%, your $300,000 house may sell at $270,000 … but remember, now that $600,000 house is only worth $540,000. Your cost to upgrade is only $270,000 more than the value of your home.
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In a strong real estate market, your house may have been worth $300,000. Your cost of upgrading to a $600,000 house would have been $300,000 more than the value of your home.
. . . So, you could be $30,000 ahead!
[/et_pb_text][et_pb_text admin_label=”Text” _builder_version=”3.27.4″ text_font=”Open Sans|on|||” text_text_color=”#e02b20″ text_font_size=”20″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]If You Can’t Sell Your Home, Consider Renting It Out.
[/et_pb_text][et_pb_text admin_label=”Text” _builder_version=”3.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]Just what are the benefits of being a landlord?[/et_pb_text][et_pb_text admin_label=”Text” _builder_version=”3.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]
- It allows you more time to find a buyer while giving you significant income to cover some or most of your expenses in holding the property.
- It helps you build further equity as you pay your mortgage (each month, typically 15% or more of every monthly payment goes towards principal reduction of your mortgage).
- If you hold the property long enough, the real estate market is sure to return. As housing prices stop falling, the housing market stabilizes and prices of homes once again begin to appreciate in value. Be sure to talk to your accountant about any tax advantages or disadvantages.
The Cindy Banks Team can assist you in leasing your home.
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