|
|
 |
 |
About Storrs & Mansfield: Moving to
Storrs and Mansfield, Connecticut? Get info here... |
|
About Coventry & Tolland: Moving to
Coventry and Tolland, Connecticut? Get info here... |
|
About Andover, Ashford, Bolton, Canterbury, Chaplin & Colchester: Moving to
Andover, Ashford, Bolton, Canterbury, Chaplin & Colchester, Connecticut? Get info here... |
|
About Columbia, Eastford, Ellington, Glastonbury, Hampton, Hebron & Lebanon: Moving to
Columbia, Eastford, Glastonbury, Hampton, Hebron & Lebanon, Connecticut? Get info here... |
|
About Manchester, Marlborough, Pomfret, Scotland, South Windsor & Stafford: Moving to
Manchester, Marlborough, Pomfret, Scotland, South Windsor & Stafford, Connecticut? Get info here... |
|
About Vernon, Willimantic, Willington, Windham, Woodstock & Union: Moving to
Vernon, Willimantic, Willington, Windham, Woodstock & Union, Connecticut? Get info here... |
|
Things To Do: Moving to
Mansfield, Storrs, Coventry and Tolland, Connecticut? Find things to do here... |
|
Local Maps and Links: Moving to
Mansfield, Storrs, Coventry and Tolland, Connecticut? Get local maps and links here... |
|
Local Weather: Moving to
Mansfield, Storrs, Coventry and Tolland, Connecticut? Get local weather info here... |
|
Local Economy: Moving to
Mansfield, Storrs, Coventry and Tolland, Connecticut? Get local economy info here... |
|
Local Real Estate Market: Moving to
Mansfield, Storrs, Coventry and Tolland, Connecticut? Get local real estate info here... |
|
For Toddlers/Kids: Moving to
Mansfield, Storrs, Coventry and Tolland, Connecticut? Get kid friendly information here... |
|
School Reports: Reports for Mansfield, Storrs, Coventry and Tolland schools kindergarten, elementary, and high schools |
|
Relocating?: Free real estate
information & relocation package if you're relocating to
Mansfield, Storrs, Coventry and Tolland, in Tolland County CT |
Please Sign Up For The Latest Listings and the Latest Real Estate News
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.
|
| Q |
Lenders in 14 states--California, New York, Oregon, Utah, Vermont and Wisconsin and 9 others--have what in common?
|
| A |
Lender in these states must pay interest on funds held in escrow accounts. |
 See More Real Estate Trivia > |
|
|
|
|
- NUMBER1EXPERTS™ 
