What is contract for deed

Seller Financing Contract For Deed

Steve Kornspan financing, News 0 Comments

Some financial counselors predict that borrowers with limited options may turn to alternative means of purchasing a home. One such alternative is the contract for deed. In a contract for deed, the purchase of property is financed by the seller rather than a third-party lender such as a commercial bank or credit union. The arrangement can benefit buyers and sellers by extending credit to homebuyers who would not otherwise qualify for a loan. Indeed, public …

What is the difference between a pre qualification and mortgage pre approval

HS Choice Mortgage and Financing, Real Estate News 0 Comments

When you are buying a home financing can seem complicated. In Kansas City real estate purchase offers must include a pre-approval letter. In some parts of the country sellers require the real estate agent to have a pre-approval letter on file before the agent is allowed to show a property. The first option is a mortgage pre-qualification which helps you to understand how much home you can afford. The second is a mortgage pre-approval letter …