Have no equity in my home but would like to sell and buy another how to come up with down??
490334
how come you have no equity?\nyou bought it for 0% down? then get the new house with 0 down.\nyou refinanced and lost all the money gambling? you should still have some equity, no?\nif you don't have savings and don't qualify for the right loan, then stay at your current home, budget yourself so you can save and get a new home at a later point in your life.\ndon't live beyond your means, don't be 'house poor' (people who buy expensive house and  burn 90% of their income on the mortgage).
1032606
if you can find a lender\nthe problem is you already have a lien on your property from first mortgage \nand in case of foreclosure the first mortgage holder  could sell for what is owing and the other company would get nothing as they are the second lien holder
670725
There are lots of ways to buy a home with little or no downpayment.  Talk to a lender about 100% financing.  There are FHA programs where you only need 3% down and they have a great rate.  Your REALTOR can also write your purchase contract so that the Seller of the home will pay some or all of your closing costs which means even less money our of your pocket.  Good Luck!
378957
You can only do a cash-out REFI if you have equity in your house. What is the value of your home and what is the outstanding debt agst the house? That will give you an idea of how much equity you have. To go througb the process, you can use anybody...a broker, another bank, your current bank etc...it's all about who gives you the best pricing. But remember for every enquiry you make, they have to pull your credit so get your credit first and then get some preliminary quotes. Good Luck!
901893
Dear Danicassa:\n\nI am not sure what you speak of. . .?\n\nEquity is not a price.  Equity in investing is the build up of your asset beyond the price YOU paid for it - or the loss you have incurred and therefore, lack of equity.\n\nFor instance, if you buy a home or property or make an investment for $100,000 and sell the property or home or investment for $200,000 you made $100,000 ABOVE what you paid or invested into it.  You got your money, originally invested, back. . .PLUS you got $100,000 MORE.  That is the asset growth, or Equity build up you have received.\n\nIf the home, property, or other investment goes down below the money you paid for it, there is no Equity at all.  You have a loss on your money.\n\nIn making an investment on property or home or apartment buildings, etc., the price you are asked to pay should be the "Fair Market" price.  This is found in COMPS and should be shown to you by the person/people you are investing through, or your Realtor.  Carefully choose your Realtor !  It is calculated by the median or average price of a like-property or home or building , within a radius of several miles.  What the average price of a like property has already sold for and is documented in COMPS.  It shows what similar properties have been able to receive for it and that is the "rule" that is applied.  YOUR investment should not be higher than what has been FAIR in that location.  However, you might get a bargain!  Again, it is called the Fair Market Value.\n\nWithin a fair market value price, the actual Equity build up for the person who sold the investment to YOU is unknown.  It sometimes can be provided by a Seller or a realtor IF you ask to know what they made on the sale to YOU.  But, they do not have to give this information.  The COMPS shows you what is legitimate in that area for that type of investment.  Also, Property Tax rolls show the value appraised by the City and what was paid for a property, I think.  You could possibly look back into the rolls and see what the present owner has been assesed at. (MAYBE see what price they paid.  Not certain.)  These rolls are available to the public.\n\nIn a General Partnership where you invest for a SHARE of a building or complex, you evaluate against COMPS whether the Partnership is being asked to pay more or less for that area with similar properties.  The Fair Market Value.  You would need the number of investors in the Partnership to divide into the overall price and see that portion you are expected to pay.  When you sell your share, you can calculate your portion of the Equity that will be ESTIMATED by the General Partnership for that neighborhood and similar properties within it.  A Realtor is best used for that.\n\nThe expectation on what the property may gain in Equity over a period of time - like 5 years - and what you could expect to receive on your share is calculated by the factors of :\n\n1.   Growth of Income (this includes if the property has a history of being fully rented out ; or a calculation of vacancies and the amount of time of vacancy on your units per year. (Revenue loss has to be included  - due to vacancy.) \n\n2.  Also, maintenance expenses, etc., including all expenses of upkeep through property management fees; gardening fees;  Utility fees; and property taxes per year to be paid. Also Miscellaneous expenses like re-black topping the driveway or parking area.  Window washing, painting, re-landscaping. \n\n3.   Also, the age of the building and what the age of the surrounding neighborhood is.  As buildings get older - they are less in demand.  Aging neighborhoods, receive less Equity build up - prices get held down by age - unless you invest in a prestigious neighborhood.  Included is the amortization of the equipment in a building or complex.  The Pool equipment, i.e., filter, pump, age of the pool and surrounding patio. (Concrete or brick work) ;  air conditioning unit, etc..  All these items must be listed for a p
648054
Assuming you have more than $125K equity in your house, you can talk alsmot any bank about an equity line or equity loan.  I like Washington Mutual myself...\n\nIf you DON'T have this much equity...well, you are out of luck.  \n\nBTW, my experience has been that deals which have short time limits are usually best left to pass.  If the time limit is due to an auction, for example, then you should have prepared much sooner.  If someone is giving you a "limited time offer" then you should probably laugh in their face.
977405
It seems like you have equity in your own home. If that is the case, then use hard money lenders to finance 65% of your deals and use a HELOC on your home to finance the other 35%.\n\nRegards
701358
I am in the same position as you. Your options are very limited financially. If you own a home with alot of equity and are willing to take the risk that is pretty much your only hope. Foreclosures are priced right for investment but you many of them are in such bad shape that you cannot obtain bank financing and they may not have C/O's etc (basically you need cash). As far as profit you can  make alot of money but you need the cash to back you up for mortgage paymenys, closing costs and renovations also don't forget about the agents commission (out of sales price).
20658
If you can't get funds from a bank, you might consider going into a partnership with a real estate investor. Have the redeem the loan for a certain percentage of the equity in the house. Agree to either sell or refinance the house within a specified number of years. \n\nYou will be giving up a chunck . . . however, you will not lose your home, you will NOT have a foreclosure on your credit report which will cost you in high or denied interest rates for many years, and within a couple years, if you keep your credit in spotless shape, you should be able to refinance and get back on track.
11768
Try sharing with someone who already has a home. It works out cheaper. Chk out the classifieds for it.
153132
Sell and move back in with your parents.\n\nSeriously, the equity you've earned is not cash that's available to you anymore - it's debt that you've paid back.  It's not your money anymore.  You took out a loan to get a house to live in, and now you're paying back the loan.\n\nThe only way to get the money back that you've paid is to sell.  But then you'll just have to buy another house or move back in with your parents or something.  :)\n\nOr you could sell your apartments.
146442
Buying real estate with literally nothing down is very very difficult.  It is possible, but you need perfect timing, and the perfect deal.  I have a client that was almost able to do it.  It would have grossed around 70k profit.  But at the last minute, he had to come out with $3-4k to cover a few costs.  (It's not no money down, but pretty darn low for 70k profit)  Don't buy into the late night infomercials.  Go get yourself some books on the subject.  And read them.  Then read them again.  Then... jump in.  You are always going to risk something.
396203
go here there are lots of loan programs that may help you http://www.allsolutionsnetwork.com/cgi-bin/d.cgi/CB9051/no_down_loans.htm
1056785
if you can find a home in your price range that will appreciate in value, i think putting $$$ towards equity rather than just rent is a good idea - but make sure it's a home that will grow in value - and don't do an interest only mortgage unless you're disciplined enough to pay more than what's due each month
192229
the easiest way to do that is to add in some cash and refinance as 1 mortgage.  Whoever gave you the 2nd loan did something that really didnt help you out at all.
848983
Need more specific information.  I would sell as quickly as possible and take the equity and put it into something more managable.
1023231
If the home equity loan is on the home you are selling, you will be required to pay it off when the home is sold. A home equity loan or line of credit is treated like a second mortgage. You might consult with your lender (with whom you have the home equity loan). If you will be purchasing another home, you might be able to switch the home equity loan to your new home, depending on how much money you are putting down, as well as a number of other factors as determined by the policies of your lender for the home equity line of credit. I had a client do exactly what I have described above. But if you are not purchasing another home, you will have to pay it off at the time of sale, because you no longer have the "equity" (in your home) which was the collateral for the loan when you got it.\n\nA home equity loan is granted when you have invested money in your home. You could have paid a large down payment, or you could have had the loan for a long time so you have already paid off a good part of it. The amount which a lender will lend to you in the form of a home equity loan depends on the value of your home compared to the amount you owe on your mortgage. The difference is the equity you have in your home. Thus another way to acquire equity in a home is if home prices have risen a lot since you purchased your home. There is usually an appraisal to acquire a home equity loan to determine the value of the home.