Even though the Federal Government has tightened the mortgage rules , lenders and home buyers have found a way around this down-payment rule.

Who qualifies?  Those with GREAT CREDIT AND INCOME, but who find it hard to save the 5% down payment.  Lenders will give these buyers  5% cash back on closing.  The transfer will happen at the lawyer’s office, with the lender providing the funds at the time of completion.  Should the buyer now have the down payment, the cash back can be used by the buyer for other things, such as renovations.

One point to remember: with no down payment, the monthly mortgage payments will be little higher.

Who should be interested?  Those buyers interested in getting into the real estate market, who can afford the home-ownership costs, but just have trouble saving the down payment.

Staging your home to sell can help you get a premium price for your home.  Done right, it helps your place sell faster and for more money.  Professional home stagers play up the best features of your home and minimize the worst.  They rearrange artwork, pack up the personal items like bowling trophies, and clear out the unnecessary items.

Here are the 10 best tips that stagers use:

1.  First Impressions

     Prospective buyers make up their mind very quickly about your home based on their first impressions.  So clean up the yard, rake your leaves, sweep driveways and porches, or powerwash them.  Spend time cleaning the front door, railings and steps.  Put away recycling cans and bins in the back yard.

2. Declutter

   Clutter will lose you money on your home.  Purge your closets, empty cupboards, box up anything you don’t use everyday. Reduce the number of books on the shelves as well as the DVDs and CDs. Be ruthless!

3. Keep it neutral

   Your goal is to have the buyer imagine him or herself as living in your house.  So remove the personal items, like the family photos, all that stuff on the fridge, all your shampoo bottles, etc.

(more…)