Re: Home Purchasing Credits | <– Date –> <– Thread –> |
From: Sharon Villines (sharonsharonvillines.com) | |
Date: Fri, 17 Aug 2012 09:37:06 -0700 (PDT) |
On Aug 17, 2012, at 12:16 PM, Ann Zabaldo <zabaldo [at] earthlink.net> wrote: > As far as I know ... everyone made a downpayment on their homes here at TVC. > ALL TVC members committed non-fundable money during the development phases > that was applied to their downpayment. That may have been only part of the > total downpayment but people did commit money for use at closing. Ann is right -- the whole situation was complicated with rebates, cash toward downpayment, etc. So people had committed a certain percentage of cost when they signed contracts. The loans were not for 100% of the cost of the units. But when all was said and done, I was able to buy my unit without paying what i would have paid without these programs. I had had enough to make the initial contract, but I walked away from the closing with a check made out to me, not the bank -- I don't remember all the exact numbers. The important point is that having a downpayment is not what determines whether a buyer is capable of making a mortgage payment or being a good cohousing community member. Sharon ---- Sharon Villines Takoma Village Cohousing, Washington DC http://www.takomavillage.org
- Re: Home Purchasing Credits, (continued)
- Re: Home Purchasing Credits Liz Ryan Cole, August 17 2012
- Re: Home Purchasing Credits Sharon Villines, August 17 2012
- Re: Home Purchasing Credits Ann Zabaldo, August 17 2012
- Re: Home Purchasing Credits Mariana Almeida, August 17 2012
- Re: Home Purchasing Credits Sharon Villines, August 17 2012
- Re: Home Purchasing Credits Elizabeth Magill, August 17 2012
Results generated by Tiger Technologies Web hosting using MHonArc.