Real Estate: Credit & Financial Resources

Image courtesy Penfed Credit Union

In this article I'll be linking a number of resources & information I have regarding credit &/or finances available for those looking to purchase, rent, sell, or be a landlord.

Finances Generally

• Budgeting

• Budgeting Meeting with Adam

• Saving on Taxes for Real Estate

• Tax Relief & Deferral

• Banking

• Cash Saving Tips

• Homestead Exemptions on Real Estate in VA vs Other States

• Factors Impacting Supply & Demand on Real Estate That Influence Prices

• SE VA City Information & Real Estate Property Info (i.e. county/city comparison in SE VA w/ sections on price/sq ft, tax rates, flood zone projections, etc.)

• Military Resources, Freebies & Discounts w/ SE VA PCS Integration

Credit

• Where Can I Get My Free Credit Score?

• Credit's Impact and How to Build it

• Credit Boosting Meeting with Adam

• Credit Card Strategies for Home Expenses

• AdamsPoints.com (My Travel Hacking Website)

• My Travel Hacking Group on Facebook of over 5000 people

• Low or No Credit Mortgages

Real Estate Type Differences: Homes, Commercial, Land, & More

• Land Purchases & Sales

• Commercial Property Purchases & Sales

  • Financial (i.e. Tax) Incentives for Investment Property, Businesses, Commercial & Industrial Real Estate in the US & Virginia

    • Virginia Economic Development Partnership Incentives

    • Virginia Tax Credits

Houses:

• As is House Purchases & Sales

• Is New Construction Ever a "Deal"?

• Condo Finances

• Waterfront Properties

• Guide to HUD Homes

• Cost Guide to Repairs & Remodeling

• Modular, Manufactured, & Mobile Homes

  • According to HUD, "Manufactured homes have an expected life of 30 to 55 years."

  • "Modular homes may or may not be on a permanent chassis (if it is, it's not allowed to be purchased by mortgages with Fannie Mae)"

• House Issues by Year

Buyers

I. Financial Preparations to Buy

II. Area Selection

III. Specific to SE VA

IV. Buyer Type Differences

V. Agent Selection

VI. Home Type Decision Making

VII. Offer Strategies

I. Financial Preparations to Buy:

• What do I Need to Buy a Home 

  • Long-Term Financial Preparations for a Home Purchase & How Adam Can Help 

  • Earnest Money Deposits

• Helpful Online Calculators

• Zillow: Can I Use My 401(k) to Buy a House?

• Budgeting

  • Avoiding Payment Shock

  • Debt Pay Off Before a Home Purchase 

  • Effectively Transitioning Your Budget Following Increased Income

II. Area Selection:

• Where to Find Home Price Area Differences

• Commute Factor Considerations

• Factors to Consider to Help Determine Where to Find Your New Home

• Factors Impacting Supply & Demand on Real Estate That Influence Prices

• Zip Code Data for Home Purchases

III. Specific to SE VA (typically w/ resources & info for other states):

• VA Tax Rates by City/County (exclusive to VA)

• SE VA City Information & Real Estate Property Info

• How's the Market in Hampton Roads?

• Income, Asset, & Rent Limits for Home Buying & Renting Programs to Reduce Costs in SE VA

• Homestead Exemptions on Real Estate in VA vs Other States

• SE VA Area Guide

• Virginia Shopping Map

• VA Transportation Maps

IV. Buyer Type Differences:

• Investors 

  • Where Hampton Roads Investors Can Find Upcoming Development

• Should I Purchase a House with my Girlfriend, Boyfriend, or Others I'm not Married to?

• Military Resources, Freebies & Discounts w/ SE VA PCS Integration

V. Agent Selection:

• Why Hire a Buyer's Agent? What do They Do?

• The Importance of Choosing a Great Buyer's Agent

• The Importance of At Least 3 Interviews for a Real Estate Agent

• Referrals to Real Estate Agents Across the Globe

V. Home Type Decision Making:

• Condo Finances

• House Issues by Year

• Zillow: Is It Cheaper to Buy or Build a House?

VI. Offer Strategies:

• Escalation Clauses

• Below & Above Asking Price Offers

• Real Estate Auctions

• Making an Offer on Real Estate

• Does the Day of the Month Matter for Closing?

• REIN Buyer Possession Agreements

• Appraisal Guarantees

Mortgages & Reducing Purchase Costs

• Reducing Home Costs for Buyers

  • Personalized Cost Savings Report 

  • Good Neighbor Next Door Program (50% off homes)

  • 10+ Types of No Down Payment Required Mortgages 

  • Housing Choice Voucher Homeownership Program (via Section 8 Subsidies) in SE VA & US

  
  

• Mortgage Recommendations

  • Mortgage Lender Recommendations

  • Low or No Credit Mortgages

  • Mortgage Interest Rates

  • Garrett Mortgage 

  • Assumptions

  • Fixer Upper Loans

  • Escrow Hold Backs

  • Co-Signing a Mortgage Loan (by Rocket Mortgage)

  
  

• Buying a House with Crypto-Currency

Sellers, Landlords, & Other Owners

Owners:

• Homeowner Resources

• Where to Find Equipment To Borrow/Lease/Purchase for Your Property Repairs/Reno/Cleaning 

• Tax Relief & Deferral in Hampton Roads in SE VA

• Will My Home Owned Count Against Me for Supplemental Security Income (SSI), SSDI, Etc.?

• Non-Profit & Government Assistance with Home Repairs

• How Remaining in a Home You've Purchased Can Help Your Net Worth More than Bouncing to Another Typically

• Assistance with Utility Bills

• Should You Get Solar Panels for Your Home?

Landlords:

• Tenant Damage

• Tips for Renting Out Your Home or other Residential Real Estate

• Landlords & Tenants

• Can I Rent Out my Home?

Sellers:

• Sellers Overpricing Their Home

• Options When Buying & Selling at the Same Time

• Financing Repairs/Renovations Prior to Sale

• Credit Card Strategies for Home Expenses (Especially if you are military on active duty)

• Why Should Sellers Avoid Offering Low or No Buyer's Agent Commission?

• The Importance of Choosing a Great Listing Agent

• REIN Seller Possession Agreements

• Competing Offer Spreadsheet

• Zillow Zestimate Accuracy

• Should You Rule Out an Agent Over Suggested List Price Differences?

• Should You Sell to a Cash Offer Off-Market As Is? "Patterns of Parasitic Purchasing"

• Adam's Desired Offer Elements When Representing a Seller

• Heavily Discounted Commission Limited Service Listing Agents: How to Find Them & Why To Skip Them

Tenants

• Programs to Reduce Rent for Tenants

  • Rental Assistance by State per HUD

• MyHousingSearch.com: Lowest Price Rental Search in 30+ States for Low Income, Section 8, Disabled, 50+, Homeless, & Veterans

• When Moving to a New Area, Should I Rent Before Buying a House?

• Rent To Buy/Own

• Immigrant Housing Recommendations

  • While typically renting is better than buying for immigrants initially, there are some cases where an immigrant purchase is a good idea (i.e. cash purchaser or strong credit outside US via a mortgage that doesn't require a US credit score w/ family in an area that they have visited on numerous occasions w/ strong appreciation projections)

• Rent or Buy Calculator

Homeless

• Living in a Van, RV, or Otherwise on Wheels

• Low or No Cost Camping

• How to Avoid Becoming Homeless

• Homeless Shelters, Transitional Homes, Day Shelters, & Rehab in SE VA

• Live Aboarding on a Boat

Other

• Free Acquisitions for Your Home

• Free Things to Do in & Around Virginia

• Time Management Tips

Keep in mind that I am not a certified public accountant, lender, or other financial professional & hold no financial certifications.

Related:

• Where Can I Get My Free Credit Score?

• Credit's Impact and How to Build it

• Budgeting

• Credit Boosting Meeting with Adam

• Tax Relief & Deferral in Hampton Roads of SE VA

• House Buyer Guide

• What Adam Offers Buyers

• Contact Adam

• Financial Resources for Real Estate from the IRS

• FDIC Residential Real Estate Finance

• Financial Resources for Agents from NAR