How to Buy a Home with No Money Down Written by Garret Belisle
For many of us coming up with "the" down payment for a home is quite a struggle. There are many reasons for this, such as your income, your family needs, your savings account is well, non-existent. Not to long ago if you didn't have at least 10 percent down you didn't have a 10th of a percent of buying a home. As of late it can be a very affordable 5 percent or zero percent.Okay now on to how it is done... So let's say you are a first time buyer (although this also works if you have already owned a home) and you simply need a break. You need a way to get into market without spending a cent. Its called No Money Down Mortgage, at least that's what its called where I live, maybe its called Zero Money Down where you live but you get idea. Now here is what is needed : There are specific qualifications....and yes they are pretty much in this order. Read on MacDuff.... 1. An A Plus Credit History. No recent history of any bad debt of any kind, which also includes all payments for your credit cards or shopping cards etc, etc. must be paid on time in most recent months. 2. Limited liabilities. This means something like "Sign here....don't move while we look into your ENTIRE credit history, but disclosure is not a bad thing, if your credit is good it will certainly work in your favour. This is done to make sure you can carry extra debt.
| | Buying Property on The Costa Blanca ~ Coastal or Rural?Written by Anthony Carter
One of main decisions you will need to make when looking to buy a property on Costa Blanca is whether you are going to buy a coastal or rural property. To a great extent this will depend on your reasons for buying and how you intend to use your new property If you are wanting income from renting, to fund a mortgage for example, then you will need to be in more popular tourist areas that are mainly by sea. There is a growing rural tourist trade but it is still comparatively small. You may be able to secure a long term rental for an inland property with someone who wants to live in Spain but cannot, or does not want to, buy. Long term renting can give an annual rental income close to bottom line achieved with short term holiday lets but it is important to have a proper contract to ensure that you, and tenant, comply with law and that you protect your asset. Rural properties can show higher capital gain and last year that was around 20% and in some cases up to 50%. They are ideal for holiday use all year round by family and friends who would like to see and experience more of real Spain. Inland detached properties tend to have larger plot sizes, perhaps an orchard, and are ideal if you have children or would like to have additional facilities such as a tennis court. In north Costa Blanca region there are many small to medium sized towns and villages with excellent facilities within 30 minutes drive of coast and some have an established English community and first class roads connecting to main towns and to airports at Alicante and Valencia.
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