The popularity of flip houses has skyrocketed thanks to the success of television shows that portray the almost magical transformation of an old, ailing house into a beautiful home. The stunning homes on television have led many people around Indiana to purchase flip homes themselves.
When it comes to real estate in Indiana, homeowners and investors do everything possible to avoid losing money. The reason is simple. Real estate is expensive and the numbers are only climbing higher. While there is no foolproof way to ensure a buyer never loses money in real estate, there are important steps to help to reduce the likelihood.
If you are trying to get a mortgage to buy a home, then you probably already know there are many rules and regulations. Indiana lenders set guidelines and have strict rules about all steps in the process of securing a loan. This is largely due to the high risk of lending such a large amount of money. Additionally, many of the rules are in place due to previous mistakes made by the industry that caused a market crash. One of the areas where rules are particularly strict is how you get your down payment.