Wondering whether or not to refinance an existing mortgage typically means running some numbers. You can do this on your own but it’s probably better to talk to a loan officer and get some assistance. It really all boils down to how much you’ll save each month compared to what you’re paying now. But there are other considerations.
First time real estate investors find the approval process is very much the same as financing an owner occupied property. There’s a credit report checked, bank statements and assets are reviewed as well as income and employment. Yet there are some additional guidelines rental property financing require.
A home inspection is part of a real estate transaction. The idea is that a professional home inspector looks at a property and identifies problems a potential buyer might need to consider. If you’re a prospective buyer, you can go to a home inspection. Either way, the inspector will create a report of their findings.
Alternative mortgage lenders include online lenders and non-bank lenders. They’re shifting the real estate marketplace and making it much simpler and easier for consumers to get a mortgage. So what should you know.
Freddie Mac's results of its Primary Mortgage Market Survey® shows that "The housing market is poised to finish the year strong as low mortgage rates continue to fuel homebuyer demand and refinance activity. Moving into 2021, we expect rates to hold steady but the key driver in the near term will be the trajectory of the COVID-19 pandemic and the execution of the vaccine."
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