Your Philadelphia Main Line Real Estate Agent
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    Mary Beth Hurtado

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Main Line Real EstateMain Line Real Estate

Philadelphia's Main Line Pennsylvania

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NO MONEY DOWN HOME LOANS

Buying Real Estate with No Money DownMany Main Line real estate investors are under the mistaken assumption that money will make or break a real estate deal—but that’s simply not the case anymore.

No-money-down home loans are a valuable tool for investors and buyers, because a lack of funding doesn’t necessarily prevent you from making a purchase.

If the deal is right, the funding can fall right into place.

So what no-money-down options do you have?

Assume the Existing Mortgage

In many cases, purchasers can use a “Subject to” contract. That means the buyer uses the seller’s existing financing for part of the purchase price. If the current loan has a low interest rate, it’s a particularly enticing option.

The buyer receives the title to a property in return for picking up the remaining payments on the seller’s mortgage. While some loans have what’s known as a “due-on-sale” clause, which prohibits a new buyer from assuming the mortgage, it may be a viable option for you.

Lease with Option to Buy

Some property owners are interested in leasing their properties to tenants and then offering those tenants the option to purchase it. Under the terms of an agreement such as this, the buyer and seller negotiate an amount that needs to be paid at regular intervals (like rent).

The agreement lets the lessor, or renter, to buy the property while living in it.

Seller Financing

Some sellers are willing to forego a down payment in exchange for higher monthly payments. Others may even make the buyer’s down payment in order to sell the home faster.

Negotiate the Down Payment

Nearly everything in a real estate contract is negotiable, including the down payment. A buyer can ask the seller to pay it or to give the buyer credit at closing. The buyer can also ask to make the down payment in installments.

Trade Personal Property

Some people find that trading personal property is as good, or better, than cash down payments. You may choose to trade anything that could be more useful to the seller than money. Cars, boats, campers and several other assets (even other pieces of property) are all acceptable replacements for a cash down payment.

Exchange Your Skills

If you possess a skill that’s valuable to the seller, you may be able to trade your services as part or all of the down payment. Attorneys, physicians, contractors… many people have “tradable” skills that could be used in lieu of a cash down payment.

Take on a Partner

If you’re inclined to share, you may be able to find a cash buyer. In return for your partner’s financing, you can obligate yourself to handle the responsibilities of setting up the deal, managing the real estate investment, and handling other important duties.

Pick up the Seller’s Debts

Some sellers need cash to pay off other debts. In cases such as those, you can offer to pay those debts in exchange for a down payment.

Offer a Higher Price or Better Terms

Again, everything is negotiable. You might be able to offer the seller higher monthly payments in order to skip the down payment.

Combine Mortgages

If you already own property, you may be able to combine the new mortgage with your old one in order to provide the seller with cash at closing. You could also let the seller know he or she could place a second mortgage on top of the first and keep the cash, while you assume both loans.

 

 

 

Featured Properties

444 INVERARAY ROAD $1,225,000

444 INVERARAY ROAD VILLANOVA, Pennsylvania

3 Beds 4 Baths 3,882 Sq Ft 0.370 Acres

15 MAUDE CIRCLE $639,500

15 MAUDE CIRCLE PAOLI, Pennsylvania

4 Beds 3 Baths 2,158 Sq Ft 0.410 Acres

662 GENERAL SCOTT ROAD $575,000

662 GENERAL SCOTT ROAD WAYNE, Pennsylvania

4 Beds 3 Baths 1,503 Sq Ft 0.890 Acres

207 VASSAR CIRCLE $499,900

207 VASSAR CIRCLE WAYNE, Pennsylvania

3 Beds 3 Baths 2,260 Sq Ft 0.500 Acres

194 DAYLESFORD BOULEVARD $496,000

194 DAYLESFORD BOULEVARD BERWYN, Pennsylvania

3 Beds 3 Baths 2,499 Sq Ft 0.060 Acres

10 NOLAN DRIVE $415,000

10 NOLAN DRIVE MALVERN, Pennsylvania

3 Beds 1 Baths 1,023 Sq Ft 0.250 Acres

219 VALLEY FORGE LOOKOUT PLACE $407,500

219 VALLEY FORGE LOOKOUT PLACE WAYNE, Pennsylvania

3 Beds 3 Baths 1,972 Sq Ft 0.110 Acres

55 TRENT ROAD $399,900

55 TRENT ROAD WYNNEWOOD, Pennsylvania

3 Beds 2 Baths 1,452 Sq Ft 0.120 Acres

332 E SPRING AVENUE $390,000

332 E SPRING AVENUE ARDMORE, Pennsylvania

5 Beds 2 Baths 1,685 Sq Ft 0.070 Acres

718 PRESTON AVENUE $319,900

718 PRESTON AVENUE BRYN MAWR, Pennsylvania

3 Beds 2 Baths 1,200 Sq Ft 0.090 Acres

236 WILLOW AVENUE $319,900

236 WILLOW AVENUE WAYNE, Pennsylvania

3 Beds 1 Baths 1,080 Sq Ft 0.090 Acres

346 E LANCASTER AVENUE 603 $239,000

346 E LANCASTER AVENUE 603 WYNNEWOOD, Pennsylvania

2 Beds 2 Baths 1,478 Sq Ft Acres

244 MINER STREET $219,900

244 MINER STREET MALVERN, Pennsylvania

2 Beds 1 Baths 702 Sq Ft 0.090 Acres

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About

“Your Philadelphia Main Line Real Estate Agent”
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Mary Beth- Where do I begin? She is a sweet, hard working and determined realtor that you want representing you. We were searching for a home in the Main Line area for several months using another realtor. Days, months and even a year went by and we were unsuccessful. It wasn’t until we started working with Mary Bath Hurtado that this dream of living in the Main Line came true! It’s been a pleasure to recommend her to many friends and to see how they also have found their dream home. If you are determined to find a house, call Mary Beth! She is knowledgeable, caring, dedicated, and passionate…a real winner!

We recently needed to relocate to the Philadelphia area without much knowledge about where we wanted to live or should be looking. Thankfully we got in touch with Mary Beth. She was a huge help and really great to work with. She’s extremely knowledgeable about the area and really helped us narrow down our search. This was also our first house, so she was very helpful in guiding us through the process. We’re very happy with the house we’re in and really thankful we were lucky enough to work with Mary Beth.

Mary Beth and Eliot were fantastic when they represented us in the sale of our home. They were quick to respond to our calls and questions, and they put us at ease when the market didn’t behave exactly as we preferred! In the beginning of the process, they were very helpful in the staging of our home, and their comps were right on. They helped us strike the right balance of patience and aggressiveness, and the end result,after just a few months in a tough market, was a sale price above list. I would not hesitate to recommend Mary Beth and Eliot to my friends and family.

We used Mary Beth Hurtado in the recent purchase our of home in Bala Cynwyd. Not only did she find us the perfect house in the right neighborhood, she helped us get it at a great price. She has a great feel for people, and tremedous knowledge and experience that make her a top-notch realtor in the area. I highly recommend Mary Beth Hurtado to anyone looking to find their dream house in the Main Line.

Mary Beth Hurtado was patient, diligent, readily available, experienced, and knowledgeable. She lives and works on the Main Line and thus is extremely versed on the Main Line properties and real estate culture. She was a great balance between being aggressive and attentive but not too pushy. She listened to us and got to know us and what we were looking for in a house, when it came to price range and style. We would recommend her for somebody looking in the Main Line area. We greatly appreciate all that she did for us throughout the home buying process.

Contact Mary Beth

Office: (610) 608-3119
Fax: (610) 717-3282
610 Old Lancaster Rd
Bryn Mawr, PA 19010

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