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| You have questions. |
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Down payment tied up in your house? |
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Need 25% down to buy the land? |
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Don't want to move twice? |
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What do you do? |
|
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|
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| First Eastern's "Only Move Once"
programs are the answer. |
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We calculate 80% of your current homes value and
subtract any mortgages from it. |
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That number is the "Safe Equity" that we can use as a
down payment on the land. |
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|
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| $200,000 |
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Value of current home |
| x 80% |
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|
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|
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| $160,000 |
|
Safe Value |
| -$120,000 |
|
Existing Mortgage |
|
|
|
| $40,000 |
|
"Safe Equity" you can use for down payment on land, deposit with
builder, etc. |
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