You have to be able to prescreen deals. Becoming a commercial mortgage broker is no joke and will require a few years of hard work to get established. There’s a lot of people out there saying how easy it “really is”. The sources touting this, are usually lenders with rates 200 to 300 basis points higher than market and are looking for newbie’s to sell their rates to unknowing borrowers.
Just because you can borrow a certain amount of money, doesn’t mean that you should borrow that amount of money. You’ll want to determine how much cash you’ll have to invest in your mortgage each and every month for the duration of the loan. Remember you’ll also need to pay property taxes and home owners insurance each year as well.
If you decide to go elsewhere you need to decide whether you want to use a mortgage brokers vancouver bc versus banker. Which is best? Your bank has high overhead with their expensive buildings, staff, and equipment. Who do you think they will pass those expenses to? Mortgage brokers usually have less overhead. You may even save money by checking the Internet.
I cautioned the buyer that he should seek a loan other than an FHA loan since we had not held title to the property long enough for FHA to approve a new loan. In case you didn’t know, FHA recently changed a rule that now requires a property to be on title at least 90 days before they will approve a new loan. So guess what the buyer did?
Isn’t it wonderful that we don’t have to go and buy a house by ourselves? A good real estate agent will take a massive load of work off your back. The first step in the house buying process is to find a realtor with whom you are confident and comfortable.
This is where we meet to discuss your real estate needs. Our initial meeting will help me determine what you are looking for by evaluating what you want and need in a home in the Manhattan real estate market.
Considering the above mentioned ways will not only help you recover your credit score but will also help you get the mortgage loan even with your bad credit history.