Fantastic ROI and an assumable mortgage!
This assumable east end duplex has two 3br units, large bathrooms and is immaculately maintained. While the downstairs is on a month to month lease, the top unit is a corporate rental and the new owner keeps those tenants thru the end of the lease.
Affordability! Only $89,000 CASH!
Two mobile homes on permanent foundations, located 2 blocks from the Nome Recreation Center. Separate entrances, off street parking, new boiler’s installed in 2009, VERY well maintained.
Lenders are starting to make equity loans again, especially where home values are rising.
But you won’t be able to borrow against every last cent of your equity, even with great credit, don’t expect to borrow more than 85% of your home’s value. For example, that if your home is worth $400,000 and your mortgage balance is $280,000 (70% of the value), you could borrow, at most, $60,000.
Once home equity lending starts up in earnest, we’ll find out if the recession really did sober us up about borrowing. Lenders are cautious now, and they’re unlikely to let you get into deep trouble.
It’s not free money. This sounds obvious, so forgive us. But spending home equity is consumption, not an investment. On average, homeowners get back about 61% of each dollar spent on remodeling. That’s down from nearly 87% in 2006, but up from last year’s 58% return.
Your payment can rise. Home equity lines of credit generally use adjustable interest rates. That means your minimum payment is certain to rise, since rates have nowhere to go but up.
You could lose your home. Fall behind on your payments and the lender can foreclose. Home equity products were behind some of the worst abuses of bubble-era lending.
According to the Bureau of Economic Analysis, a median priced home in this state is $251,500. Our files reflect that the median home price in Nome is slightly lower than that!
We are still way more expensive than most areas in the lower 48!
Check out this well maintained duplex! Assumable loan, fantastic rents. Walking distance to schools, hospital and rec center!
209 A&B Tobuk Alley, a bargain at $299,000
Great Icy View location on Gone Again, this 4/5br home with 2 full baths is located on the outskirts of the subdivision, so your backyard seems endless! Huge lot of over 13,000sq ft. Fantastic views of Anvil mountain, access to trails, quiet street. This house is a real Nome Sweet Home!
The Nome Eskimo buy-down program is going away June 30th, so if you have been approved for it you should call me to find a house that can close before it expires!
Nome Eskimo Link : http://bit.ly/Ykbrm8