2007-06-15 14:32:57 · 11 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
No, not at all, you are allowed to pay cash for them. Some purchases are expected to be cash.
2007-06-15 14:36:45 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You can purchase a home by getting a loan, paying cash, in some cases you can get grants to pay for part of the home (but with grants you have to be careful, because a lot of times they require you to stay in the home for up to 10 years before you can sell it again, ask a mortgage broker about this). Some owner's selling their homes will do what's called owner financing, it's almost like paying rent. You pay the owner payments each month, except they keep track of it until you pay the home off, so your money is still going toward a house payment, but you are able to get around going thru a mortgage broker, because the owner is essentially giving you the money and you are paying him/her back directly. And if you know someone who has a lot of money that would give you a personal loan you could do that too. Whatever you do, just beware of interest rates with any type of financing you do.
2007-06-15 21:43:44 · answer #2 · answered by pinkluxe 3 · 0⤊ 0⤋
Not if you have enough money to pay cash for it.
You usually couldn't get a personal loan for a house , because most houses cost a lot more than a personal loan would cover, since they're usually for a much shorter period of time so your payments would be astronomical.
2007-06-15 21:39:38 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
That and more......the biggest thing is to have a good loan officer working for you. I recommend First National Banc Corp. They do business in most states and are your best opportunity for someone to say yes. ADDITIONALLY, IF YOUR CREDIT IS SUSPECT, THEY SOMETIMES FRONT THE MONEY TO GET YOU INTO A CREDIT RESTORATION PROGRAM SO THAT YOU CAN QUALIFY FOR A LOAN. Check out the free evaluation form at the source website and a First National loan officer will contact you within 24 hours. Good luck.
2007-06-17 09:16:53 · answer #4 · answered by stephen l 2 · 0⤊ 0⤋
Cash is always accepted. Just last year I brokered a property sale for $600,000. I asked the buyer if he had procured appropriate financing and he replied that he was going to pay cash. Before I could ask, he quickly informed me (with a chuckle) that he had verified bank documents indicating that he truly did have that level of cash on hand to complete the sale.
He was not lying.
2007-06-15 21:43:40 · answer #5 · answered by acermill 7 · 0⤊ 0⤋
if you dont have enough money to make a down payment on a house or apartment you would need a home loan but there is interest charged.
2007-06-15 22:06:59 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Yes, unless you have enough money or equity in your current house to be able to pay for a house in full.
2007-06-15 21:36:35 · answer #7 · answered by Cookie On My Mind 6 · 0⤊ 0⤋
unless you have all cash OR the owner is willing to finance you privately
2007-06-15 21:43:51 · answer #8 · answered by WeLoan.Us 2 · 0⤊ 0⤋
Nope - you can write a check.
2007-06-15 21:41:02 · answer #9 · answered by Richard of Fort Bend 5 · 0⤊ 0⤋
if you have the cash in hand you don't
2007-06-15 21:37:24 · answer #10 · answered by tmweber 4 · 0⤊ 0⤋