Where to get Down Payment Money for Your HomeWritten by Andre McFayden
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Tap into your IRA First-time homebuyers can withdraw up to $10,000 without penalty from an IRA/Rollover IRA to use as down payment money to purchase a primary residence. No Money Down loan programs What about no money down loan programs? Yes, you’ve seen commercials on late-night TV…”Buy a house with Zero Down!” There are these types of programs available but be prepared to pay higher interest and loan fees. How much higher depends on lender and your credit score. Even with no money down programs, you will most likely still need to come up with some money for closing costs and any cash reserves required by lender. It is also important to remember that in addition to down payment, homebuyer must be able to afford monthly mortgage payment. The lower down payment, higher loan amount and higher mortgage payment. To learn more about downpayments, visit Empire Real Estate - Downpayment Money, and No Money Down Loans . This article may be reprinted only if credit is given and all links are kept intact. Copyright©2005 Empire Real Estate Group, Inc.
Andre McFayden is Vice-President of Empire Real Estate Group, Inc. in Fresno, CA www.empirefresno.com
| | 7 Reasons to Pay Yourself FirstWritten by Diann Cannon
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Many financial experts recommend investing at least 10% of our gross income into something that can actually make money. That means finding an investment opportunity that will earn money for you on your behalf. Some people choose real estate, some stock market; if that's just way too risky for you, then consider bonds or some other safe investment. I recommend George Clason's book entitled "The Richest Man in Babylon" for a no-nonsense approach to financial planning and personal prosperity. For information on how to purchase Clason's book, click here: The Richest Man in Babylon Practicality and reality rule! When we are truly fiscally responsible, we do not do things that can jeopardize our financial health. More to point, we will not forego saving or buy things we cannot afford because we are fully knowledgeable of our financial circumstances and responsive to our best interests. We live within our means. One secret to success is modeling what other successful people do. Most every successful person I've ever met saves at least 10% of their income and invests it. Create your own success story. I cannot tell you how many times people have looked at me, given me an impish grin and said, "I wish I could do that, but I barely make my bills as it is." The truth of matter is that you will never miss $1.00 out of $10.00 or $10.00 out of $100.00. So my suggestion is no matter how much or how little money you make, do it!-------------------------------------------------------------------------------- ACTIONBegin now by first opening an extra bank account. Take 10% from you next paycheck and put it in this account. Continue to do this with every paycheck you get. You are going to be so pleased this time next year when you see reserve of money you have set aside. Talk about peace of mind!
Diann Cannon, founder of Signals Personal and Business Coaching, works with individuals facing major life transitions, such as divorce, unemployment or career change. She helps them identify their strengths and confront limiting beliefs and behaviors. Ultimately, she helps people achieve success and balance in their business and personal lives. Contact Diann and sign up for her newsletter at http://www.signalscoach.com.
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