Cary and Fox River Grove Illinois real estate listings, home buying, selling and relocation information

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Buyers Remorse >First Time Loans

Most first-time buyers can qualify for a mortgage loan, but they may need help from parents to make the down payment or closing costs on their home. There are loan programs that minimize the down payment and closing costs for first-time buyers. These programs usually require that 3 to 5 percent of the purchase price come from the buyers' funds, not from a loan or gift. Most lenders ask for the last three months' bank records. The borrower will be asked to reveal the origin of any large deposits. If the money comes from the homebuyer's parents, the lender may not consider those funds when qualifying the buyers.

Parents who are planning to help their children finance a home should transfer any funds several months before the house-hunting process begins. If it is a loan rather than a gift, a formal re-payment agreement should be drawn up between parents and children to eliminate potential misunderstandings or future complications with either estate.

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Q	What 70-room East Coast mansion was built as a summer home and is known as a "Gilded Age cottage"?
A	Cornelius Vanderbilt's "Breakers" Mansion in Newport, Rhode Island, named for the waves crashing along the cliff that separates the property from the ocean.
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Bill and Luanne Hauck, REALTORŽ, real estate agents and broker for Cary and Fox River Grove Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)

Bill and Luanne Hauck
RE/MAX UNLIMITED NORTHWEST
445 Park Avenue
Cary
Il 60013
Office Direct: 847-624-3272
Office Main: 847-624-3272
Bills Cell Phone: 847-624-3272
Luannes Cell Phone: 224-875-4663
Fax Number: 847-516-0924
BillandLuanne@NUMBER1EXPERT.com
Bills Email: hauck@mc.net
Luannes Email: luanne@PreLovedHomes.com
"Let The Haucks Find You A New Nest" Welcome to our web site. We are Bill and Luanne Hauck of RE/MAX Unlimited Northwest. We are the #1 Husband and Wife team at RE/MAX Unlimited Northwest, McHenry Counties largest selling real estate company. We go the extra mile to help you achieve your goals. That's why we constantly research the market and property values so your home is priced effectively from day one to coincide with our marketing plan getting you the most return on your investment. We also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers. Call or email us today!

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