For raising a family, making a solid real estate investment, everyone wants to own their own Maine home.But borrowing the money for a Maine bank home loan can seem a mystery.
Knowing a buyer of a Maine home is getting the best program for their housing needs, financial and current employment situation is everyone's goal.
Or should be in the Maine real estate home loan process.
The Maine home itself has a bearing on the program for bank financing too.
If the buyer is only able to go through a direct loan offered by say the Rural Development program of the USDA, the real estate agent, broker needs to eyeball the match making first. He or she has been to the property, knows it and the owner inside and out as the listing agent.
From experience the Maine real estate agent, broker, REALTOR should trust his gut property listing instincts. If he knows the Maine home the buyer has his heart set on will need thousands and thousands of dollars of updates, improvements to meet the direct RD - USDA loan stamp of approval.
Speak up before the purchase and sale agreement is signed on this Maine home and find another.Or talk with the banker, Maine home loan processor about other programs to get the keys to another place, property.
The Maine home buying movie will not have a happy ending if you don't. Because if the buyer has empty pockets but good credit, a steady job, the burden for who is picking up the tab for all the items on the list from the carpenter, plumber, electrician and others is going to be the sellers, home owners. Who will angrily state, he's not putting thousands in to the home that is now already well worth the purchase price without the updates.
The home improvements needed before the RD - USDA loan is made are way way more than a GFI electrical outlet in the bathroom, a stair railing to the basement, new glass in the porch cracked window. After weeks of inspections, collection of estimates the Maine home has been kept off the market too.
Removed from consideration by others who figure it is almost sold, when it is anything but when the er, Maine real estate jury returns its verdict.
Everyone's expectations can be too high all because of the wrong program with the Maine home it should never be matched with. Or the contractors asked to give their bill of health stamp of approval on the property can be two varieties. One that figures the Maine home roof has over five years of life in it as long as Santa does not cause excessive wear during holiday reindeer games during touch and go gift delivery.
Another contractor estimates the roof is shot, needs replacement before the Maine real estate closing.And his estimate is three times the normal expense. The buyer picked this line your pockets contractor. The plumber, electrician also from the same fraternity and help create lots of work for themselves with over the top estimates to make the older home up to brand new standards.
Maine State Housing home loans come in a large variety and you can blend them with the best of other programs. A veteran can use his Maine home buying certificate to also tap in to the Maine State Housing loan program. The end result is lower cost of buying, owning a Maine home. So buying a Maine home is more than debt ratios, credit FICA scores, explaining this or that bill that shows up on the bank loan investigation. The Maine home has something to do with the house marriage of sticks, bricks and borrower. And how it fits in the home buying program for the borrower. Maine, we keep it simple, dream in blue and green.
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