The pandemic has caused consumers to re-examine the components that make up the “perfect home.” Many families are no longer comfortable with the locations and layouts of their existing homes.
Now You Can Keep Your Current Home And Buy A New One Even If Youre Upside Down
Allow me to introduce my mortgage lender Jeff Nunley with Peak Mortgage...I thought some of you may find this interesting to your situation...Please feel free to call him if you want to know more and tell him Becky sent you. I am your Eugene Realtor ready to help you 7 days a week, when you are ready to look for your new home.
Dear future home owners...
Over the last few years I've received dozens of calls from people who want to buy a new home and keep their current home as a rental. Most of these people find they are trapped in their current home because they don't have enough equity in their home. Until now, you've had to have 25% or even 30% equity in your current home in order to use the rents to offset the monthly payment. Thanks to the housing crash many people are just now getting to a place where they have broken even much less have 25% equity. This has left many people without a way to escape their current residence without destroying their credit.
Enter our new partner, Finance of America Mortgage, LLC. FAM has removed the equity requirement on it's conventional loans. This means that now you can buy a new home, even if you're upside down, and rent your current home out even if you're upside down in the home. This is a great way to buy a home while waiting for the value of your current home to recover to a point where you can sell it if you want without hurting your credit. Not to mention the fact that owning additional real estate can be a great way to build wealth.
If you' like more information on how you can FINALLY get that new home you want give me a call or shoot me an email. This is really an exciting change and is just one small way Peak Mortgage and Finance of America Mortgage, LLC are helping people get the money they need to accomplish their goals.
I look forward to hearing from you.
To your continued success!
Peak MortgageA Division of Pinnacle Capital Mortgage Corp. WA CL-81395
O:(541) 342-2525 x 144 | F: (541) 342-8411
1500 Valley River Drive Suite 270 Eugene OR 97401
Latest Blog Posts
A worldwide pandemic and an economic recession have had a tremendous effect on the nation. The uncertainty brought about by both has made predicting consumer behavior nearly impossible. For that