Nikki Carter | Orleans Real Estate, Eastham Real Estate, Chatham Real Estate, Brewster Real Estate


The decision to buy a house is probably the best decision you would ever make. Deciding is the easy part; coming up with the capital to finance the dream is the hard part. Getting a home of your own has its perks, but it can be a daunting process to acquire.

Usually, prospective homeowners seek mortgage loans when they need to get a house they can afford. The traditional mortgage has its terms and conditions for granting out loans. You must satisfy the terms and conditions before such loans become available. 

So, what happens if you do not qualify for a mortgage payment? Does this mean your ‘American Dream’ of owning a home would not see the light of day? There are other channels prospective homeowners can seek loans from aside the traditional mortgage. They include:

Lease-to-own

Lease-to-own is an agreement between the seller and the buyer. The seller rents the house to the buyer temporarily if the buyer can come up with enough money as a down payment. The rent installment paid, out of which a certain amount goes into an escrow account as money to use in securing the home. The contract is usually between a year after which the buyer pays for the balance of the property or packs out and leave. 

Borrow from Your Retirement Account

Borrowing from your retirement account is like borrowing from yourself, but this should only be short term. You will pay a penalty fee of 10% if you are not up to the age of 60 years for taking out money from your retirement account - and you would pay taxes on the amount borrowed. If you lose your job during the process, you must pay back the money borrowed within 60 days. 

Borrow from Your Insurance Policy

What’s the harm in borrowing from your insurance policy especially if your insurance policy allows you to take a loan against your principal? You don’t have to return the money, but you would get less than the amount you or your heir were supposed to get paid when the policy matures. You can apply for the loan through your insurer directly and bear in mind that the rates vary. 

Save Enough for A Down Payment

This method seems like the most convenient, but it requires you to exercise patience. Most lenders now do not need 20% as a down payment anymore but if you can’t come up with enough money as a down payment–save enough until you qualify for a traditional mortgage.

Get A Co-Signer

Getting a friend or a relative to co-sign with you is a great way to increase your chances of qualifying and to secure a loan, especially when they have a higher credit score than you.

Buying a home requires rigorous planning, and it is capital intensive. Weigh all your options before finally deciding. 



22 Priscilla Road , Orleans, MA 02653

Orleans (village)

Condo

$1,395,000
Price

4
Beds
8
Total Rooms
3/1
Full/Half Baths
Nauset Heights! Beautiful, spacious 4 bedroom Cape with high ceilings and tons of natural light! A remodeled attached 1 bedroom cottage is part of this wonderful property! It has been a very successful vacation rental, and has it's own website www.nausetbeachhouse.com.Views of Nauset Harbor & Ocean views from the upper level! Steps to the sandy beach on Nauset Harbor, or walk around the bend to Nauset Beach! Swimming, boating & fishing practically at your doorstep!
Open House
No scheduled Open Houses





5 Standish Road , Orleans, MA 02643

East Orleans

Single-Family

$4,800,000
Price

3
Beds
7
Total Rooms
2/1
Full/Half Baths
OCEANFRONT in Nauset Heights! 5 Standish Road resides at the pinnacle of properties in ''The Heights'', THE premier East Orleans enclave. Anchored high on ''The Bluff'' above the Outer Beach and Nauset Harbor on private, manicured grounds, the home offers unmatched,unobstructed Atlantic Ocean vistas sweeping for miles, encompassing Weeset Point, Eastham's Fort Hill, Coast Guard Station and Nauset Light; Nauset Harbor and Inlet, and stretching south in one grand infinitely-varied marine tableau of sea, marsh, sand, and sky. Built in 1993 in a Cape style with lofty ceilings and walls of windows, the extremely spacious 3 bedroom home (the lot may support 4) offers over 4,200 sft of living space with ocean views from almost every room. NEW interior ''staging'' photos coming!
Open House
No scheduled Open Houses





71 Taylors Pond Road , Chatham, MA 02659

South Chatham

Single-Family

$1,599,000
Price

3
Beds
7
Total Rooms
2
Baths
Fabulous area! Wonderful family 3 bedroom 2 bath home with pretty views of Taylor's Pond! Lovely living room with vaulted ceiling, fireplace & sliders out to the deck, adjacent kitchen & pretty open dining room! Family room on the lower level! Boating to Nantucket Sound from the dock across the road from your home! Swimming steps away or walk around the bend to the sandy beach on Cockle Cove!The adjacent lot is part of the package!
Open House
No scheduled Open Houses

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25 Primrose Lane , Orleans, MA 02643

East Orleans

Single-Family

$3,500,000
Price

3
Beds
7
Total Rooms
4/1
Full/Half Baths
Incredibly beautiful waterfront Estate with a 3 bedroom 4 1/2 bath Main Residence & separate 1 bedroom & 1 1/2 bath Guest Cottage on 1.5 Acres!Far reaching salt water views facing East over Pochet Inlet & Nauset Beach to the Ocean!Stunning open rooms with walls of glass, high ceilings & incredible natural light!Swimming in your in-ground Pool, kayaking, swimming & fishing at the water's edge or deep water boating to the Ocean from your private, registered Dock!!
Open House
No scheduled Open Houses

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