Let’s get right to it:
In high-priced housing markets, a home for $500,000 would require an ideal $100,000 down payment. Who has $100k laying around? Not too many people right.
Well, if you are a teacher or eligible professional, here’s an option to consider:
- If the house cost $500,000 in high priced market
- Downpayment required is $50,000
- You put $50,000 down
- A Chan Zuckerberg co-funded LANDED initiative pays $50,000
- The balance is $400,000 ( ya need a mortgage )
- The funder arranges the $400,000 mortgage
- The mortgage is paid every month by ( Landed.com )
- you live there MORTGAGE FREE, just pay utils, upkeep, overhead.
- years pass by
- House is sold
- Why not: teacher or busy professionals
- Profit is $50,000 ( $550,00 minus $500,000 original cost)
- Landed.com keeps 75% of the sales profit
- Teacher/Professional keeps 25% of the sales profit
- That’s it!
- # the end