| |
| |
|
|
Real Estate |
|
How to Choose Your Real Estate Lender
Because you need quick action when applying for a real estate purchase loan, find a lender you can access easily. A lender's quick response signifies good service to follow. Once you know your middle credit score, look for a lender appropriate to your specific needs. When ready to make offers to purchase, apply for credit with lenders. Choose at least three lenders to apply with and do it at the same time. Call all your prospective lenders during the same week. This counts as only one inquiry on your credit report. Credit bureaus expect borrowers to shop for a loan. The best way to find a good lender is to ask a real estate investor for a referral. Also, escrow officers and real estate agents know lenders who close loans efficiently in a timely manner. Avoid advice from agents or others who receive a kick-back commission for referring you, because you may pay for this referral with added charges to your loan.
Ask potential lenders about the following requirements and costs according to a price range you think matches your needs. This also helps determine what you need to look for in a property. 1. Qualifications: 2. Loan costs: Are loan costs added to loan or prepaid? 3. Requirements: A Better Way to Find Your Lender After you work through all the details of the lender's checklist, you understand better the available possibilities. Now, from a different point of view, work backwards. Instead of asking the lenders what they offer you, tell them what you want and find the lender who best matches your terms. Create your own wish list of your personalized loan needs.
Is this purchase an owner-occupied or an investment property? Make your own checklist according to your abilities and find the lender who comes closest to your needs. Remember, a good mortgage broker wants your business and works hard to find the right loan out of thousands to best suit your requirements. However, asking a lender for impossible demands wastes your time and theirs. Notice the difference in real estate loan requirements, loan costs, and lender's attitudes. Figure out your qualifications, your loan needs, and find a matching lender with first-class service. (c) Copyright 2004, Jeanette J. Fisher. All rights reserved. Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Joy to the Home, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, newsletters, and sales flyer template, see http://www.doghousetodollhousefordollars.com/pages/5/index.htm
MORE RESOURCES:
Real-Estate - Google News |
|
|
|
RELATED ARTICLES
How Does Interest Rates Affect New Home Sales and Wheres The Best Place To Build? These real questions on new home starts and interest rates on real estate are answered by a US Master Builder and myself after receiving them from readers of my e-book, "Residential Development Made Easy."Question 1. 5 Secrets for Surviving a Real Estate Market Downturn History repeatedly serves to show us that the real estate market is cyclical. It has boom times and stagnant times, occasionally it suffers a crash but real estate never becomes worthless, therefore if the experts are right and we're about to suffer a slow to stagnant period in the real estate market, all is not lost!There are 5 fundamental secrets that real estate investors like to keep close to their chest and they are the secrets that enable them to survive and even profit during a bear market. Five Things to Help Sell Your Home Fast, and For More Money Selling your home requires some thought and a clear plan of action. Here are five things to consider when you're getting ready to sell your home:1) Know Your BuyersAre most of the homes in your neighborhood being bought by first-time or move-up buyers? Depending on which group will be looking at your home, you'll want to do the things that will make your home appealing to those buyers. Selling Houses with Curb Appeal and Design Psychology Curb appeal is the most important challenge you'll face when selling your home. You must make home shoppers feel like getting out of their car to see what's behind the front door. For Sale By Owner: The Inside Scoop On Selling Your Own Home If you're thinking about selling your home perhaps the 'for sale by owner' signs posted on neighborhood lawns have intrigued you. When you browse the newspaper listings you see ad after ad boasting 'for sale by owner' as an added incentive for buyers and you envy the owners that are confident enough to try it. FSBO - How to Prepare Your House to Sell Did you hear that? Prices of houses in Phoenix have been jumping 5% each month for 2005 according to market experts! Some even predict that the price of housing could jump an additional 10% for the upcoming year. The shortage of houses for sales and the still relatively low interest prices are causing the price of homes not just here in Phoenix but nationwide to escalate. Youre Not Paranoid: The House Really Hates You If you've just bought a house, you may be able to relate to a fascinating essay in Maya Angelou's book, Even the Stars Look Lonesome.When Ms. Buying a Home: The 5 Biggest Mistakes that a Home Buyer Makes As a Professional Real Estate Inspector I get to see and hear the right and wrong things people do when buying a home. These 5 tips will help you choose the right Real Estate Agent the first time. Home Not Selling In Todays Hot Market? Tips and Ideas to Help You Sell So, your selling your home. Prepare yourself both physically and mentally for the agony of the endless phone calls and interruptions to your daily schedule. Property for Sale in Piemonte Italy is Attracting British Interest The Region has four distinct seasons but in general possesses a Mediterranean feel strongly influenced by the proximity of the Mediterranean Sea. Winters are short and cold (the snow and mountains providing spectacular scenery for the region's ski resorts). Sell Your Income Property For More Selling income property isn't like selling a house. You can paint a house, and get a little more because it looks nice. How Come No One Told Us About This When We Were Buying a Home? Development, it's bound to happen.Simply because there is a large open field, or the property you're looking at borders woods, doesn't mean it will or can stay that way in the future. Dont Overpay for a House, Even in Todays Market If there's one thing American investors love, it's an over-inflated market. Which is why they keep buying houses and new ones keep coming onto the market. How to Build Your Free House What if you could "place an order" for the construction your Dream House (made either for your family, or for monthly rental income) and have it built for you in only a few months, or maybe weeks?!What if you could get other people to do all the work.. Real Estate Development Feasibility Study (Income) - $1.2 Billion Developer Tells You How To Do One There are two sides to a feasibility study and in an earlier article I discussed the cost side of the format and:Now Let's Discuss The Income SideWithout the Sales Income, All You've Done Is Spend Money, And Anyone Can Do That.So that we are clear in what I am going to define for you, let me say that there are two forms of Income. Selling Houses: Flooring & Feelings Buyers think they love Italian tile and other hard floor surfaces, but they actually feel happier when they're walking on softer surfaces such as padded carpeting and padded laminate. Even so, you'll want to give some serious thought to the floors in your home if you want to sell quickly, and for the highest profit. Selling Your Home In The Winter In many parts of the country, selling a home during the winter months can be a challenge. Dreary, cold weather and the end-of-the-year holidays can keep buyers away and heighten fears of your home staying on the market longer than expected. Attention To Details Helps Homeowners Sell Fast In A Buyers Market Your boss has just given you the career opportunity of a lifetime, but the job is in another state.Soon you discover that moving your family to another city may be one of life's hardest tasks. Real Estate News Happy New Year, Make it a better world. "Pay it Forward" as in the movie. Choosing a Residential Lot Finding a lotPlanning for your new home is a very involved process. You might want to get right down to selecting a set of house plans but don't get into a hurry.
|
||||||||||||||