Ashevilles real estate agents are getting more creative in selling homes with a lower mortgage payment, thanks to a new trend.
Asheville, TX real estate has seen a lot of demand for low-cost homes in recent years, but they have historically had to pay out big bucks to people who couldn’t afford the house.
The latest trend in selling low-priced homes with no down payment is to go to a real estate agency, which can offer a cheaper down payment, and the seller can get a lower monthly payment, making it possible for the buyer to pay off the mortgage more quickly.
As he walked through his home, a woman with a long white beard who was also a realtor walked up to him and introduced herself as a member of the real estate firm.
She offered him a $15,000 down payment on the home.
“We are here to help you,” the woman said.
We are not in a hurry.
It is a little risky.
But I think we can help you.
“The real estate office is not the only agency offering a lower down payment option to people.
There are a couple other local real estate companies who also offer this option.
They offer a home for sale for $5,000.
You can save $1,000 on the mortgage and buy the house for $15 a month with the help of an agent who can also lower the monthly payment.
In Austin, there is a realty company called Ashevin Properties.
It offers $30,000 in down payment and no down payments.
I can’t get the $15-per-month down payment.
I’m getting it paid off in 20 months.
I would have to go through a lot more than that.
A local realtor offered a $3,000 payment option.”
The realtors are selling houses in a trend known as home equity lines. “
The money is right there, and they can sell it at a discount.”
The realtors are selling houses in a trend known as home equity lines.
These lines allow homeowners to take out a home equity line and pay down their mortgage in five years instead of five years.
For example, if a homeowner who owns their home $150 million has a mortgage of $100,000, the $1.5 million down payment would be paid in 20 years.
In contrast, if the homeowner who had the same mortgage at $125 million has the same down payment at $80,000 the mortgage would be 30 years.
Realtors can sell a house at a discounted price, too, and some can even sell homes for less than they would be able to pay for the property if they sold at their original sale price.
Some real estate agencies have even been offering these low-down payment mortgages to people with a history of paying for mortgages with their credit cards.
The fact that they’re still selling the property for a higher price shows the agent’s success.
Another recent trend is offering lower down payments on homes with subprime credit ratings.
These are high-risk loans that have an interest rate that can double or triple the amount of the loan and typically have a 30-year term.
If the buyer is able to find a buyer willing to pay the loan with their down payment in five or 10 years, the buyer can get the property appraised for $1 million less than what they would pay for it at the original sale.
Realtives who are selling at a lower rate often get a discount.
But many agents are offering a 10 percent discount to people willing to go with a 10-year mortgage and a $2 million downpayment.