Buying a Home From Family

Press Release: August 12, 2005

For Immediate Distribution

For all the people who live in a home owned by a family member and wish to purchase that home, we have an exciting new 'buying a home from a relative' mortgage program announcement.

For those hose mother or father or grand parents want to sell a home they own to them, our 'buying a home from parents' mortgage loan is just the right mortgage for them.

Our Buying a home from a relative program for home buyers that allows you to purchase a home from a family member without any down payment. A Buying a home from a relative Loan allows you to use the difference between the market value (sales price) and the amount you are actually paying for the property as the down payment. This is called a Gift of Equity Loan. After processing your application we issue a Gift of Equity Letter and this letter is essentially allows you to obtain the Gift of Equity Mortgage.

Apply online or call one of our loan specialists at our 24 hour loan center at 800-331-4715 and ask for a Buying a home from a relative
loan specialist.

Our 24 hour Loan Center has a Buying a home from parents agreement available for the Buying a home from a relative
mortgage programs and you can apply online for a Gift of Equity Loan that is a mortgage program that allows you to purchase a home from a relative.

Real Estate purchased from a family member at less than fair market value and does not require a down payment for a home purchase of a one thru four family home or you can call toll free 1-800-331-4715 and speak to one of our loan specialists regarding your Buying a home from a relative loan. These mortgages are designed to offer homeownership opportunities to individuals with good credit but who lack the ability or desire to make a down payment on a home. These home loans provide an option for those who wish to invest their savings in assets other than their home. With a Buying a home from a relative purchase you are financing 100% of the purchase price of the home and the Buying a home from a relative agreement is essentially the purchase and sale agreement between the family buyer and the family seller of the property. These programs were introduced by lenders because they recognized a need for a loan programs that allows people to purchase a home from a family member with no down payment being required. Upon approval of your loan you will be given an approval which will explain the details of your loan. These home loans serve many people who would not be able to afford themselves of homeownership if they were required to make a down payment. Many households are unable to save for a down payment and would be locked out of the housing market were it not for these types of mortgages. There are several advantages for some borrowers to get a no down payment mortgage. First-time home buyers may not have enough saved for a 20% down payment or might want to use the money they've saved for other uses like buying furniture or other necessities for their new home. Other possibilities are that some people may have found a home they want and they desire to lock in the purchase price now before the house appreciates and ends up costing them more money in the long run. The other issue is that the house could appreciate to a point where you can no longer afford the home. This has happened in several real estate markets in the US. prospective home buyers might need the money they have saved for other purposes such as paying off debt or they might have a child who is about to enter college and need the money for tuition. A Gift Of Real Estate Form loan can also help those who need to use their savings to consolidate their debt which makes good financial sense because mortgage interest rates are tax-deductible and rates on credit cards are not. You can even avoid the private mortgage insurance with our programs because many of our lenders will lend 80/20 combo loans which is essentially a first mortgage of 80% of the purchase price and a second mortgage of 20%. By doing the mortgage in this manner you avoid the PMI which is calculated on a single mortgage if the loan to value exceeds 80%. This is also beneficial for tax purposes because the PMI is not tax deductible while the interest paid on the second mortgage would be deductible. Our programs are available for both wage earner and self employed borrowers on both a full doc or no doc income verification basis. The mortgage programs for Buying a home from parents purchases generally have low rates and flexible term programs available and we have access to many Buying a home from a relative home lenders that specialize in mortgage programs.

With a Buying a home from a relative we can help you get that house with little or no money out of pocket.

To find out more about our Gift of Equity Program >>>click here

For a Gift of Equity On Line Application: Apply here and you will get you an answer within 24 hours.

If you are calling long distance our number is 800-331-4715 and we will contact you ASAP.

Action Mortgage - Your Buying a home from a Relative Mortgage Specialists !

Apply Now for a Free - No Obligation Approval

Buying A Home From Family Press Release

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Buying a Home from Family Press Release