Some buyers are able to purchase their home using cash while others require financing. The first thought that comes to mind when obtaining a loan is to talk to your lender or mortgage broker; however, many borrowers are finding challenges with this process.
For those that have had some credit challenges as a result of a recent event, take a look at some tips from Kevin Budde at Bank of America.
Others may consider “out-of-the-box” financing options. Now, don’t get worried…I’m not talking about “creative financing” that is going to land you in jail (or lead to a public apology like in my recent video)…I’m talking about alternative sources of financing that have always been available. In that past few years, financing options such as seller-financing or lease-options took a back seat to the easy credit that was available from traditional financing sources. With the tightening of some underwriting criteria, these alternate sources may be worth looking at.
This week’s picks show just an example of some homes that are offering Seller financing possibilities. For more information on these or any other home go to the website, or if you want to discuss options that may be available to you, contact me and we’ll get you pointed in the right direction…hopefully leading you to your new home!
106 Monarch Bay Drive, Dana Point, CA
MLS# L32013 – This Craftsman-styled home is located in the guard-gated community of Monarch Bay. It has 3 bedrooms, 3 full baths and 2700 square feet of living area. With an ocean view and low HOA dues, this home priced at $2,295,000. This community is leasehold land with an expiration of 2020 and an option agreement to purchase the land. The seller is willing to carry a 1st trust deed.
222 Nyes, Laguna Beach, CA
MLS# L25021 – This Laguna Beach Homes is located in the Upper Victoria Beach Tract. The main home is a unique 5 bedroom, 4 bath two story home and has two separate rental units. This could be the perfect resort home with the possibility for additional income. Plus, the seller is willing to carry a 1st trust deed…all at a listed price of $2,499,000.
313 Calle Familia, San Clemente, CA
MLS# S598656 – Moving down the coastline a little bit to a San Clemente Homes for sale, we find another ocean view home with a possibility of seller/builder financing. This home was built in 2009 and is located in the Broadmoor tract. There has recently been a price reduction of $50,000 on this 3 bedroom, 3 bath, 2600 square foot home. Priced now at $1,149,900
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