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6 Creative Ways to Afford a Home
1. Investigate local, state, and national down payment assistance programs. These programs give qualified applicants loans or grants to cover all or part of your required down payment. National programs include the Nehemiah program, www.getdownpayment.com, and the American Dream Down Payment Fund from the Department of Housing and Urban Development, www.hud.gov.
2. Explore seller financing. In some cases, sellers may be willing to finance all or part of the purchase price of the home and let you repay them gradually, just as you would do with a mortgage.
3. Consider a shared-appreciation or shared-equity arrangement. Under this arrangement, your family, friends, or even a third-party may buy a portion of the home and share in any appreciation when the home is sold. The owner/occupant usually pays the mortgage, property taxes, and maintenance costs, but all the investors’ names are usually on the mortgage. Companies are available that can help you find such an investor, if your family can’t participate.
4. Ask your family for help. Perhaps a family member will loan you money for the down payment or act as a co-signer for the mortgage. Lenders often like to have a co-signer if you have little credit history.
5. Lease with the option to buy. Renting the home for a year or more will give you the chance to save more toward your down payment. And in many cases, owners will apply some of the rental amount toward the purchase price. You usually have to pay a small, nonrefundable option fee to the owner.
6. Consider a short-term second mortgage. If you can qualify for a short-term second mortgage, this would give you money to make a larger down payment. This may be possible if you’re in good financial standing, with a strong income and little other debt.
10 Questions to Ask Your Lender
1. What are the most popular mortgages you offer? Why are they so popular?
2. Which type of mortgage plan do you think would be best for me? Why?
3. Are your rates, terms, fees, and closing costs negotiable?
4. Will I have to buy private mortgage insurance? If so, how much will it cost, and how long will it be required? (NOTE: Private mortgage insurance is usually required if your down payment is less than 20 percent. However, most lenders will let you discontinue PMI when you’ve acquired a certain amount of equity by paying down the loan.)
5. Who will service the loan — your bank or another company?
6. What escrow requirements do you have?
7. How long will this loan be in a lock-in period (in other words, the time that the quoted interest rate will be honored)? Will I be able to obtain a lower rate if it drops during this period?
8. How long will the loan approval process take?
9. How long will it take to close the loan?
10. Are there any charges or penalties for prepaying the loan?
Used with permission from Real Estate Checklists & Systems, www.realestatechecklists.com.
Sarasota Communities – Bill Travers Credentials
Welcome to Sarasota Communities.com, I am Bill Travers, a Florida Licensed Broker Associate . I have designed this site to provide you with easy access to information on the Sarasota real estate market, buyers resources, home sellers guides and tips, as well as information on new home construction in Sarasota and Bradenton.
I’m a Florida Licensed Real Estate Broker with over 11 years of experience and knowledge in both new home sales and general real estate. Previously I spent ten years in Ophthalmology as a technician.
Real estate is the ultimate career field. It makes you wear many hats. You have to triage and always be thinking ahead of every transaction scenario. Providing ethical representation to my clients is priority number one. Working in Sarasota and Manatee County new homes sales has taught me the intricacies of what goes into residential living, floor plans, sales, marketing, development, zoning, planning and most importantly, the care and sensitivity to our buying and selling emotions.
My experience in sales, (accumulating over 10,000 hours of on-site sales), along with my passion for education and technology have given me the experience and knowledge that could help you with your real estate needs.
Business and educational background is as follows:
- Broker Associate
- Florida Real Estate Licensed since 1999
- Licensed Real Estate Broker 2003
- Past member of Sarasota Association of REALTORS®
- Past member of Florida Association of REALTORS®.
- Past member of the National Association of REALTORS®.
- New home construction sales with Lennar Homes, WCI Communities & D.R. Horton
- Real Estate Investor
Many of my clients politely comment on how I am not a high-pressure salesperson and how I make it my mission to focus on the buyer or sellers interests in the transaction.
If you’d like more information about Sarasota real estate or my services, please don’t hesitate to contact me. I’m always happy to answer all questions, big or small.
Phone: 941.544.7516
br/>LinkedIn: http://www.linkedin.com/in/billtravers
Bill Travers Joins WCI Communities at Venetian Golf & River Club for New Home Sales in Venice Florida
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“Aspire to inspire before you expire”
You can reach us direct at:
Cell: 941-544-7516
Toll Free: 888-206-1175
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Client Testimonials Bill Travers Real Estate
“Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.”
(author unknown)
When it comes to buying or selling your home, Bill Travers always looks after your best interest. I work to assure
your 100% customer satisfaction and will always go the extra mile to ensure complete due diligence and negotiations were handled with care. Here are just a few of my client testimonials.
Buying or selling a home can be a stressful situation. Your home is not only a big investment, but is a big part of your life. When my husband and I decided to sell our home, we wanted a professional that understood our feelings and would work very hard at getting our home sold. Because Bill has such a passion for the local market, we knew he would give us the attention that some of the large, national firms couldn’t.
Although the Florida real estate market really has seen a decline in recent months, he personally sold our home in less than 60 days while other homes in our neighborhood remained on the market.
Rich & Cheryl Robinson, Ellenton, Fl
We are more than satisfied with everything that Bill has done for us. Bill was familiar with the area and was a helpful asset to us. He was always available to us and did a lot of research for us also. We would recommend him highly
The Starks, Parrish Florida
Bill is a fantastic professional, extremely competent, very resourceful, innovative and most importantly trustworthy. From the day I listed my house on the market to closing, Bill was always in constant communication ensuring that I was properly informed and that I felt 100% comfortable with all the legalities that are involved in the sale of a home. Bill always gave me sound advice and guided me towards the next steps. When the market slowed down Bill came up with new marketing ideas and strategies. My peace of mind was Bill's #1 priority. I highly regard Bill Travers as an outstanding professional as well as a loyal friend. I will always be thankful to how easy Bill made the entire process of selling a home.
Liliana Branquinho
Sarasota Homes and Condos, Maintenance Free and Gated Communities
Sarasota real estate for sale offers many varieties of homes for sale. Condos, Communities, neighborhoods, subdivisions and lifestyles. and luxury waterfront locations. Known for our world renowned white sand beaches, sunny climate, vibrant recreational and cultural scene make Sarasota a diverse area of big city amenities and small town ease of living. Top-rated schools and affordable cost of living make Sarasota a desirable place to call home. Sarasota has been rated as one of America's best places to live, work and raise a family.
Searching For Homes and more
Searching for real estate in Sarasota, Bradenton, and Siesta Key Florida doesn't have to be overwhelming. Here you can view properties in the MLS for sale from Siesta Key, Longboat Key, Casey Key, Bird Key, Lido Key and St. Armands to Lakewood Ranch and golf course communities. There's something for everyone. Your choices can vary from:
- Single Family
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- Gated Communities
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Living Styles and Choices
Sarasota Florida has such a diverse assortment of living choices. You can find Luxury Homes, Penthouse Condominiums, Golf and Country Club Estates, Waterfront Property, New Construction, Villa's and Townhomes in locations such as Siesta Key, Longboat Key, Lido Key, Bird Key, Turtle Beach, St. Armands Circle, Downtown Sarasota, Lakewood Ranch Country Club, Palmer Ranch and more. Architecturally, you have a plethura of choices from: modern, contempary, spanish, meditteranian, art-deco, traditional, tudor, Key West style, elevated, boat house, florida cracker and more. The choices available to you can be found in practically any location. Sarasota has also been known to cherish and preserve her unique homes and designs. Homes are recognized as landmarks since many famous and significant contributors to the area lived here seasonally or full time.
With a wide range of choices of condos, villas and single family homes from Prestancia, Lakewood Ranch, The Founders Club, The Concession, Venetian Golf and; River Club, Ritz-Carlton Golf Club, the choices are numerous. Search our site to find the properties that are right for you. SarasotaCommunities.com puts you right into the MLS so you can find the properties that you're looking for. Contact us today to see what we can do for you! Call Bill Travers toll free at: 888-206-1175.
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