A homes’ financing proposal is used to seek loans from financing companies in order to fund the buying of a home or homes. The price of homes is usually a big amount and most people find it difficult to finance a home by themselves as they cannot afford such huge lump sum amount. Therefore, they approach financing companies like banks to borrow a part of the asking price amount which they will return over a fixed period of time, usually 15 to 30 years, and must also pay an interest along with the principal amount. The homes financing proposal must mention details of the property, the amount required, how that amount will be used, when it will be returned and how it wil be returned.
Sample Homes Financing Proposal:
Name of borrower: Nathan Giles
Address: 43 Rivendale, Ohio
Proposal prepared on: February 12, 2012
Proposal submitted to: Brick Road Financing Services
Proposal submitted on: February 14, 2012
Address of property: 32 Rivana Farm, Oakland
Proposal name: Seeking financing for home located at address mentioned above
Purpose: The primary purpose of creating this proposal is to give details of the property to be bought and show the need of financing for buying the home
Details of Homes Financing Proposal:
- The borrower has good credit scores and ensures that the loan money will be paid every month depending on the interest rate and amount fixed by the financing company
- The property will be developed by Green Leaf Real Estate Services and construction will start from March 1, 2012
Project budget: $200,000
Funds requested: $100,000
