Finance

Land Loan Down Payments

Many buyers of land will use a loan for their purchase. Unfortunately some of those buyers are in for a shock regarding the down payment because this type of loan is viewed differently than real estate purchases with homes or buildings. For some insight, here are key factors to know about down payments for land loans. 1. How much is the down payment on a land loan? Lenders require 20-50 percent of the...

Solar Farms?

Many folks are often looking for unique ways to make a profit off their land. Well, here is a innovative idea!  Apparently solar companies are now reaching out to farmers all across the states in order to find owners who would be interested in leasing their land for solar projects. Would you like to read more on this? Please feel free to read full artical by Caroline...

Loan Pre-Approval

When buyers begin the process of looking for their next home or if you are in the market for your first, most real estate agents will ask if you have been pre-approved from your lender. This is a very important first step in the process that many homeowners-to-be try to sidestep. It is critical because it saves buyers from falling for a home that is not in their price range or buyers realize they qualify...

Purchasing Fees

Frequently when purchasing a new home, or if you are a new home buyer, buyers do not pay attention to all the extra fees that are included in the purchasing process. The following is a list of common fees to be aware of: Loan Application – applies to many types of loans and is for the costs to process only the loan approval and is nonrefundable. Many folks shop for lenders since this fee can vary from...

Farm 2018 Tax Tips

Changes effecting capital purchases and net income: New 1031 rules -  a tax-free exchange (1031) only applies for real property. Personal property or equipment exchanges are treated as a sale and therefore require a "bill of sale". New depreciation life and limit -  Federal 179 deduction limit is $1,000,000. It limits qualified capital purchases to a dollar-for-dollar phase-out starting at...

Buying with NO $$ Down?

Many folks do not realize that it is even possible to acquire a home loan with little or even no money for a down payment. We are here to tell you, yes you can!  You just need to do your homework in finding the right program to assist you or what programs are available in your area. And these various programs are not just for low-income buyers or the first time home buyer. According to a national...

How Your Credit Score is Calculated

Our FICO credit score is made up of five elements, as indicated by Fair, Isaac Corp., for the general population. 35% - this score is about how bills are handled. Are the bills paid by or before the due date? What is your history on paying on time? The consumer gets points added to their score if they are paying their bills on time, but if your are late or missing your monthly payment then the...

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