We follow trends in the mortgage market very closely at Evoque Lending and recently we came across an interesting article looking at the relationship between “green housing” and mortgages.
It was in the latest issue of National Mortgage Professional magazine – not the most engaging periodical if you aren’t in the business – and it speculated that perhaps growth in “green” or eco-friendly homes would spur more growth in mortgage lending.
One of the indicators the article pointed to was a growing tendency of home builders to become involved in the so-called green projects. They estimate that by 2016 these more environmentally conscious homes will be somewhere between 26 to 33 percent of the new home market.
Help when you need it
We think green homes are a great thing, especially in California, but at Evoque Lending we’re more concerned with prospective buyers who “see red” when they run into roadblocks that keep them from getting the loan that they need.
Whether you want to buy a green home, or a home that’s painted yellow and surrounded by a white picket fence, it can be tragic when a conventional lender leads you on for several weeks and then backs out of the deal when your closing is just around the corner.
There’s nothing like that sinking feeling when the bank or mortgage company calls you with the bad news, especially if you then have to relate the news to your family.
Finding the right solution
However, if you ever face a situation like this, we urge you to not lose hope. Evoque Lending has been able to offer solutions to hundreds of home buyers in Los Angeles, Orange County, San Francisco and throughout California who have been in similar situations.
Do you know the story of the Princess and the Pea? The Princess couldn’t sleep well because of a small pea under her mattress. In a similar way, what are in reality small details can bother conventional lenders and derail what is fundamentally a sound real estate purchase.
At Evoque Lending, we concentrate on what is important. We don’t base our decisions on credit reports that can be damaged in a day and are seemingly impossible to “repair.” We understand that the true value of the property you are buying or refinancing, and your ability to make the payments are the most important elements when borrowing.
The important factors
Those were the important factors before the fancy electronic credit reports were invented and those factors will continue to be important 100 years from now.
Further, we know that every borrower and every situation is different. We can be flexible in the term of the first trust deeds that we write. If you borrow from us, you will have the peace of mind knowing that you’re getting the right loan for you and your family’s situation.
Lastly, we know first hand how quickly Orange County real estate, Los Angeles real estate and property throughout California can sell, so we have designed our system to move quickly. We get you an answer fast and can close in as few as seven to 10 days.
Looking for a green home? A pink home? Give us a call and tell us the details. We’ll go to work for you.