Your Personal Credit And Getting A Hard Money Loan

Your Personal Credit And Getting A Hard Money Loan

All too often, with accepted offer in hand, buyers and real estate agents are forced to play the waiting game while a conventional lender or bank goes through the process of final loan approval. Needless to say there are several differences between these lenders and hard money lenders, but for now, let’s address this one. One of the most fundamental elements in approving a conventional loan is of course the borrower’s credit rating. If you’ve been following the real estate industry over the last several years, you’ll know that regulations have essentially...
Rent Buy Rent Buy Rent Buy Rent Buy…

Rent Buy Rent Buy Rent Buy Rent Buy…

At what point does it make more sense to own a home rather than rent? It’s a question that of course crosses the minds of those who feel that they’re simply throwing their hard-earned money away each month on rent, with nothing more to show for it other than a place to put their stuff and a temporary roof over their head. Feeling like they have no other option, the one thing they lack, and that you and I probably take for granted, is market knowledge. It is our hope that you may be able to take this information, originally published in the OCR, and...
Survey Says Little Mouths Have The Loudest Voice In Real Estate!

Survey Says Little Mouths Have The Loudest Voice In Real Estate!

Children today have more of a say than ever in home buying decisions according to a survey by SunTrust Mortgage released on Monday. The survey, which was conducted by Harris Poll between April 18 and April 20, 2018, among 2,047 adults, found that 55 percent homeowners with a child under the age of 18 at the time when they purchased their home said that the opinion of their offspring played a major role in their home buying decision. For millennial parents, their child’s influence and opinion while buying a home mattered even more. The survey revealed that 74...
How Do  I Get The  Best Rate?

How Do I Get The Best Rate?

Here Is What Your Client Needs To Know We’ll make this short and sweet. It is never about the best rate. It is about the best MATH, period. There is NO other answer than that. So why isn’t the lowest rate the best deal? First, lower rates come with more points and fees. That is not the real issue, however. There is a break-even point to contend with when paying points and fees, tax deductions to figure out. In the case of a purchase loan, points are tax deductible in the year that you pay them. That is good, but then again, so is the interest you think you...
Why It’s Not Always A Good Idea To Refinance… Unless You Know The Math

Why It’s Not Always A Good Idea To Refinance… Unless You Know The Math

There’s a reason why banks are so profitable. Quarter after quarter they show billions of dollars in profits. As most of us know, one major reason for this is banks pay depositors less than 1% return on their savings accounts and use those same monies to charge double digit rates on credit cards – some as high as 29.99%. Another major and often overlooked reason why banks are profitable is because they temp customers to refinance by selling them monthly savings and lower payments instead of teaching them the Math. They sell the sizzle. They make us think they...