7 Ways to cover your Closing Costs

7 Ways to cover your Closing Costs


Tamara Celeste: Do you need money for closing costs to buy your first home? Watch this video to find out seven simple ways to find money to purchase that home.

Tamara Celeste: (music)

Tamara Celeste: For the best home buying tips and advice, please subscribe to my channel, and also hit that little bell, because you will be notified every Tuesday as soon as I post a new video.

Tamara Celeste: If you are trying to figure out a way to find money to buy a home, watch this video, and by the end of this video you will learn seven ways to find money to help you toward your home purchase. Many of my clients have used these tips.

Tamara Celeste: Tip number one, city and county grants. There’s a lot of money out there for first-time home buyers, so I want each of you to do a Google search for me. Google “first time home buyer program” and then enter your city or state. So, for example, I live in West Palm Beach, Florida. I would search “first time home buyer programs” or “first time home buyer grants West Palm Beach Florida.” You should have quite a bit of information come up for you. So, definitely do some research, look at the requirements for certain grants. Some of them have specific income requirements, some have credit requirements, but that’s a great place to start, to see what money is out there.

Tamara Celeste: Tip number two, a family gift. If you have a family member, brother, sister, mother, grandmother, that is willing to give you a gift, this could be a great way to help get money for your closing costs. Now, it cannot be a loan, but it has to be a gift that you are not going to pay back, and your lender has specific guidelines, and your lender will be able to walk you through those guidelines.

Tamara Celeste: Tip number three, seller concessions. Now, a seller, depending on your loan type, is allowed to give you back a portion at closing to help pay for your closing costs. This can be significant. For example, let’s say the loan allows the seller to give 3% of the loan amount, and you are getting a $100,000 loan, and your closing costs are going to be $4,000, but the seller can give $3,000. That’s a significant amount of money. Again, there are certain procedures to follow, and your local realtor and lender can walk you through those.

Tamara Celeste: Tip number four, get yourself a side hustle. Yeah, right now, there are so many opportunities to make money that you can do to boost your bank account. So definitely, definitely consider that. Look for things that interest you, like shopping or dog walking. I also have a video that’s coming out very soon, so be on the lookout for it.

Tamara Celeste: Also, right now, I want to take a minute to stop. If you like what I’ve said so far, anything resonates with you, please comment below.

Tamara Celeste: So, we’re back. Tip number five, your 401(k) or retirement. Many of you are fortunate enough to have 401(k) or retirement savings, and there is a possibility that you can use these funds for a down payment or closing costs to help you buy your first home. There are specific guidelines that you must follow, and that your employer must follow, so make a call to your employer administrator or 401(k) administrator, and see if that’s a possibility. Sometimes it’s taking out a loan against your 401(k), but if you have those funds and you need the extra money for down payment or closing costs, definitely, definitely consider this option.

Tamara Celeste: Tip number six is talking to your employer. Believe it or not, some employers, as part of their benefit package, has money for closing costs. It could be $500, $1,000, who cares? It’s money out there for you to use. It’s usually some of the larger employers, but you never know. Talk to your plan administrator, talk to your HR person, your benefits plan administrator, and see if your employer does offer any funds for down payment or closing cost assistance.

Tamara Celeste: Finally, tip number seven, crowdfunding. Many of you are aware of GoFundMe, and other crowdfunding platforms, and you get these GoFundMe campaigns from people who are trying to raise money for things as serious as medical conditions or other things. But, believe it or not, now there are some lenders that have crowdfunding platforms that you can solicit friends and family to pool together money to help you with your closing costs. Definitely, definitely do some research and Google that, and you might be pleasantly surprised.

Tamara Celeste: If you liked this video, please do me a favor and “Like” it below. Also, hit the “Subscribe” button, and please share with your fellow ladies. Write a comment, let me know what was helpful, let me know what your biggest takeaway was. I love, love, love to hear your feedback.

Tamara Celeste: Also, if you would like to join a community of like-minded women just like you, who are all moving toward the goal of home ownership, please join my private Facebook group. In this group, I offer advice and support, and also give you guidance on navigating the sometime confusing process of purchasing a home.

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5 Ways to Earn More Money to Pay off Debt and Save for a Down Payment

5 Ways to Earn More Money to Pay off Debt and Save for a Down Payment


5 Ways to Earn More Money to Pay off Debt and Save for a Down Payment

Saving for a down payment can be difficult.  Most people have competing obligations and every month it seems that their money just isn’t enough to cover just the basic expenses, let alone save for a down payment.

I have identified several way for you to go about earning that extra cash to pay off bills and put money in savings.  Remember, any little bit helps. Just $25 a week adds up to $1200 a year in savings.

Following are a few interesting and  fun ways that I came up with to help you save for your down payment without you even leaving your house.:

Complete Online Surveys

Not in the mood to do something taxing. Here’s something very simple for you: fill online surveys. A very popular way to make money fast is fill out surveys in your spare time. Hundreds of research companies are on the lookout for new members who can test their new products and answer a couple of questions. You can earn as much as $35 for filling a single survey form. Here are a few websites to get you started:  Swagbucks.com, Mypoints.com, Mysurvey.com, GlobalTestMarket.com and Toluna.com.  

Usertesting.com is a website that allows you to earn $10 in just 20 minutes.  All you have to do is browse websites and write reviews about them.

Sell Items on eBay

All those items in your closet and things lying around the house you no longer use or need can be sold on eBay. Pick a day and clean out your closet. Everything from clothes to shoes, jewelry, purses, antique figurines, etc., all these will bring in good money on eBay. Do your spring cleaning a little early and starting putting up the items for sale.

Dog Sit on Rover.com

Are you a dog lover?  This is one of the easiest jobs to make some cash! Just register yourself on Rover.com to find pet owners near you.  You can either dog sit at the dog owner’s house or you can bring the dog back at your place. The job involves taking the dog out for a walk, feeding and in some cases, giving it a bath too. This is one of the best ways to make fast cash if you are a dog person and have the magic touch.

Register as a Freelancer

Fiverr.com and Upwork.com are two of the s largest online market places that gives you the opportunity to create your very own business. You can take jobs that match your skills and deliver the content to business owners and clients. The two websites are slightly different, but they both offer various categories in which you can work, such as digital marketing, writing and translation, video and animation, music and audio, program and technology, business and lifestyle, fun and graphic design.  Another great site is Upwork.com

Sell Your Creative Art on Etsy

Etsy is the universe of creative and extraordinary art where you can earn money by selling your handcrafted pieces. Are you creative enough to take this challenge? You simply open up a shop online and sell your creativity to the world. You can sell here everything from paper goods such as origami figures, greeting cards and 3D models to home décor products, jewelry and more

Try these options and see how much extra cash you can make!