Creative Financing Techniques For A Down Economy

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If you’re buying a home or thinking about it, you probably already know the economy is down. It seems to be a never-ending struggle, but you still need to expand (or shrink) your personal space and want a new home. Therefore, you may have to get creative and use various financing techniques to get the money you need in a more appropriate amount of time. Many times, properties don’t close, not because there’s a lack of interest, but because there’s a lack of funding.

Win-Win For Everyone

The buyer wins because they get the money they need for the down payment and the closing fees. They can start paying the mortgage and get the house they’ve wanted for a long time. The seller wins because they get their home sold quickly and relatively effortlessly. However, they may also get closer to the full asking price, which makes them extremely happy.


The traditional loan may still work for a multitude of people. However, banks are leery of lending money to anyone, making it more difficult for you to get the money you need. You may have to jump through more hoops or may even be turned down multiple times. While this is disheartening, it is one way to go. Sometimes, banks and lenders will give in just to get you off their back. However, if you don’t have time to wait (or don’t want to go through the hassle of multiple rejections), creative financing techniques will be an excellent alternative.


You want to try and get at least 100 percent financing to cover improvements and repairs on the new home because even though inspections are very in-depth, they won’t find every problem. You may also want to ask the seller to handle your closing costs or carry your first mortgage. It may seem that you’re asking the seller to pay you or buy the house for you, but it is an excellent way to lower your costs and for them to sell their old property.

Of course, you can always ask friends and relatives to loan you the money at low-interest rates (or none at all). If you’ve never borrowed money from them before, they may be more willing to do this.

If the property is commercial-based, you can find finance partners to help you with other costs, such as finding the properties, buying them, fixing them, finding employees, etc.)

Creative financing techniques are essential in a down economy and can be as simple as asking a friend for help. Visit websitenow to learn more.