Gifts For The Holidays

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CHARLOTTE – As the season of giving is upon us, let’s talk about the greatest gift of all: A home! Now of course, it may be unreasonable to wrap a house up and put it under the tree, but many people do not know that the very small down payment a buyer (especially first-time homebuyer) may need can be gifted, or given, by a family member! In addition, as we have mentioned in the past the closing costs can be paid by the seller.

Therefore, lets provide an example:  Let’s say that an individual has good income and credit, but is just lacking the 3% down payment and closing costs on a $300,000 home.  On that home, the 3% down payment is $9000 and the closing costs could range from around $5000-$6000 for everything involved.  When placing the offer the real estate agent can draft the contract asking the sellers to pay for the $5000-$6000 in closing costs, eliminating that portion needed.  That then leads one to only needing the $9000 (3%).  Many do not know, that $9000 – down payment – can come from their own funds, of course, but can also come from a family member (or a combination of family members – no limit).

Knowing this could be the difference between giving up on the dream/goal of a new home and making that dream a reality!

As we head into the Holiday season, if the ultimate goal (or new year’s resolution) is to purchase a home, please do not hesitate to call/text/email (  (704) 430-6138) with any questions. We are always here to help!

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Brandon Wolf
Brandon was born and raised in the Mint Hill area and graduated from Independence High School. He went on to play college baseball at Wingate University. Brandon met his wife at Independence HS, dated all through HS, college and got married right after college (they have a little boy due in September). Brandon has been a Mortgage Loan Officer, in Mint Hill, for over 7 years. "Mint Hill is more than the place I work, it's been my home. I grew up, played baseball, met my wife. I truly love helping people get mortgages in this town I have always called HOME" says Brandon.