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Category Archives: Real Estate Finance

Posted on January 15, 2019 by Jeremy Biberdorf
Last updated: Jan 15, 2019 16:58

VA loans – helping veterans maintain a roof over their head

Veterans have traditionally been one of the biggest groups in society to experience homelessness. This has especially been the case for ex services personnel suffering from physical and mental disorders, such as PTSD. Once veterans are homeless it can be difficult for them to maintain a roof over their heads in the future. They represent a large proportion of the homeless population in the US.

However, there is some good news. The figures for homelessness in veterans are decreasing. This is partly due to the work of the Department of Veteran’s Affairs. They provide a considerable amount of support to veterans, including VA loans. Continue reading →

VA loans – helping veterans maintain a roof over their head
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Posted in Real Estate Finance | Tagged va loans, veterans | Leave a comment |

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Posted on December 22, 2018 by Eric Brown
Last updated: Dec 22, 2018 12:51

Should You Pay Your Mortgage Early or Invest?

On the road to the nirvana of financial freedom, you will find the speed bump of mortgage payments. You are not alone. Of the $13.15 trillion that Americans owe, $8.88 trillion is in the form of mortgage loans. So, should you pay off your mortgage wholly or invest more for financial protection?

The answer to this question is not always cut and dry. Wishes aren’t horses, and your desire to be free may be in sharp contrast to your financial statements. A delicate balance between your desires and financial insight is what is needed to make the right call. Continue reading →

Should You Pay Your Mortgage Early or Invest?
5 (100%) 1 vote

Posted in Real Estate Finance | Tagged Mortgage | Leave a comment |
Posted on December 15, 2018 by Evans Walsh
Last updated: Dec 15, 2018 07:45

Why Are Sellers in Favor of All-Cash Offers?

Cash is king. Most people are of the opinion that sellers may give a break when it comes to the price of the home up for sale if the buyer pays in cash. Depending on the marketplace’s temperature, paying in cash has immense benefits considering from the point of view of the seller.

Sellers Love All-Cash Offers- Know Why

Often sellers accept a purchase in all-cash over offers that are higher-priced with Continue reading →

Why Are Sellers in Favor of All-Cash Offers?
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Posted in Real Estate Finance | Tagged Sellers | Leave a comment |
Posted on October 13, 2018 by Rob Campbell
Last updated: Oct 13, 2018 17:56

Using a Mortgage Broker Versus Using a Bank

If you are looking to get a mortgage, there are two main avenues that you should explore. The first is using a mortgage broker and the second is a bank.

There are some mortgage brokers who operate as middlemen between the mortgage lenders and the banks. They help secure the financing for the homeowner. And then there are banks and lenders who deal directly with the homeowner to give the necessary financial loan on a retail level.

Around 10% of all home loan originations are by mortgage brokers. Let us take a brief look at how both operate. Continue reading →

Using a Mortgage Broker Versus Using a Bank
5 (100%) 1 vote

Posted in Real Estate Finance | Tagged canada, get a mortgage, guelph, guelph mortgage broker, lenders, Loans, mortgage architects, mortgage brokers, mortgages, ontario, tips | Leave a comment |
Posted on August 29, 2018 by Zayne Scott
Last updated: Aug 29, 2018 18:35

Cash In A Flash! 5 Merits of Private Money Lenders to Real Estate Investors

When it comes to real estate business, time and money is the name of the game, and in order to succeed in this business, chances are you will need financing. With more and more real estate investors searching for alternative financing options, other than bank loans, in order to finance their deals, private money lending has emerged as a viable option today. Often referred to as hard money loan, a private money loan is a real estate loan made by private individuals or group of investors. Unlike banks and other traditional lenders, private money lenders are primarily interested in the value of the property being used as collateral and put much less emphasis on a borrower’s credit report and debt-to-income ratio.

Continue reading →

Cash In A Flash! 5 Merits of Private Money Lenders to Real Estate Investors
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Posted in Real Estate Finance | Tagged Advantages Of Private Money, Hard Loan Lenders, Hard Money Lenders, Hard Money Loans For Real Estate, Investing in Real Estate, Private Lenders, Private Money Lender, Private Money Loans, Real Estate Hard Money Lenders, real estate investing | Leave a comment |
Posted on August 28, 2018 by Robert Keith
Last updated: Aug 28, 2018 03:33

Should you rent or buy a home?

Renting Vs. Buying From a Conceptual Standpoint

The American dream is an influence in so much of our lives. Even if it’s a little old school and achieving it seems a bit harder, there are certain benchmarks to “success” that still thrive. One of those is home ownership.

This is the foundation — the bedrock — of the American dream. White picket fences and a Victorian home are the ideals components of a successful life in the United States. This image is even reinforced in movies and television. Take a personal survey and count how many times the protagonist owns a home. Tony Stark is a homeowner. Homer Simpson is a homeowner. Spider-Man rents, but he’s young and you know he’s on the path to homeownership. Continue reading →

Should you rent or buy a home?
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Posted in Real Estate Finance | Leave a comment |
Posted on August 28, 2018 by Robert Keith
Last updated: Aug 28, 2018 02:59

How To Make Money Out of Rubbish

In May of 1995, Patrick Combs was sitting there minding his own business when out pops this junk-mail check for $95,000, one of those tired promotional teasers from a tired promotional firm that promises the tired old world in cash and gifts.

On a lark, the San Francisco author — to whom the check was issued — decided to deposit the item at his tired old bank despite the “Not Negotiable” caution at the top. What followed was a series of errors that resulted in a $95,000 credit to his account, with the bank holding the bag. Continue reading →

How To Make Money Out of Rubbish
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Posted in Real Estate Finance | Leave a comment |
Posted on August 23, 2018 by Rudyard
Last updated: Aug 23, 2018 05:07

A Guide for Young Homeowning Couples

Young Homeowning Couples

Being a first-time buyer can be a stressful experience for anyone in their 20s, 30s and beyond. But fear not, you are not alone. This article will provide a list of steps to help make that first foray into home ownership a little easier.

So, you’ve done it. A stable income, a stable relationship and you’ve escaped the clutches of your most recent landlord, who for some may even take the form of mum or dad. The world’s your oyster. And now you’re on the precipice of an exciting opportunity to buy your own home. Continue reading →

A Guide for Young Homeowning Couples
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Posted in Real Estate Finance, Real Estate Investing | Tagged homeowners | Leave a comment |
Posted on August 21, 2018 by Rudyard
Last updated: Aug 21, 2018 05:17

All You Need To Know About Second Mortgages

Are you looking for a second mortgage? Before you start your search, find out everything you need to know.

Many people across the UK choose to look for a second mortgage, but why? It may seem like taking out another loan against your home is a ridiculous idea, but the fact is 1000s of people choose to go for a second mortgage. It can be a great way of freeing up some cash, to use however you see fit. Second mortgages shouldn’t be taken lightly, which is why we’re here to help.

In this post, we’re going to provide you with all the information you need to know about getting a second mortgage. We’ve spoken to an expert online mortgage broker, Mortgages. Online, and found out everything there is to know about getting a second mortgage. We’ve got all the info you need, below.

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Why get a Second Mortgage?

It may baffle many already paying for their first mortgage but getting a second mortgage can be really handy for you. See, a second mortgage doesn’t replace your first one, and it’s considered an entirely separate and second debt. However, don’t let the word put you off, this ‘debt’ is a still a mortgage, secured against your home. You’ll have two loans against your home, but unlike your first mortgage, your second doesn’t have to be used to purchase a home.

A second mortgage can be used for anything, and we mean anything (as long as it’s legal). It’s just a way of borrowing some extra money but secured against your property. Many use their second mortgage for home improvements, to boost the value of their home. But, like we’ve said, your second mortgage can be used for anything.

The Requirements

Not anyone can just land themselves a second mortgage, there are some criteria you need to meet before you can free up the cash. You can see them, below.

  1. You need to own your home

This one is a given, but you need to have a mortgage and own your home. Because no home means nothing to secure the loan against which means you will not qualify.

  1. You need to pass affordability checks

Mortgage lenders just can’t grant you a second mortgage, they need to assess before lending you the money. Your income, outgoings and mortgage repayments will be reviewed, to make sure you can afford the repayments on your second mortgage.

  1. You need to have equity in your home

Finally, you’ll need to have some home equity. If you’re not sure what this is, don’t worry, we’re about to explain. If your home has gone up in value, and your mortgage repayments are less than the value of your home, then congrats, you have equity.

Say your home is worth £200,000 when you bought it. And you borrowed £180,000 with a £20,000 deposit. If your home is worth £250,000 and your mortgage owed is at £170,000 it means your home equity is £80,000.

If you have all of these, then you can get yourself a second mortgage.mortgage loan

The Benefits and Risks

As with everything in life, there are pros and cons to getting a second mortgage. Find out the rewards and risks in this section.

Pros

  • Get Approved

When borrowing money, you normally find that if you put something up against the loan as collateral (your house), you’ll be more likely to be approved then with an unsecured loan. Because a secured loan means the lender’s investment is, well, secure, which means they’re more likely to hand over the money to you. So, if you’re in need of a loan, getting a second mortgage may be the answer.

  • Cheaper than Remortgaging

Whilst remortgaging is replacing your mortgage, like we said above, a second mortgage is in addition to your current one. Sometimes, remortgaging isn’t cheap, so many find that getting a second mortgage is the best option for them.

  • Borrow more

Some personal loans may not offer you the right amount you need. With getting a second mortgage, you can typically borrow more than other lenders may be able to offer through a second mortgage.

Cons

  • Losing your Home

Failing to make repayments on your second mortgage means that your home could be up for repossession. It’s the same with any secure loan. If you’re not meeting your repayments, eventually your property will be repossessed by the lender. So, it’s key to make sure that you can afford the second mortgage – hence, the affordability checks.

  • Consolidating Debt

Many choose to seek a loan in order to consolidate other debt. However, by using a second mortgage to make small repayments on other debt, you could find that you’re paying a lot of interest. Because a second mortgage has a loan-term of around 30 years, which means you could be paying a lot of interest over that time. A second mortgage isn’t always the best option for repaying smaller debts.

  • Moving House

If you want to move to a new house, whilst you’ve got a second mortgage, it can be difficult. Because you have 2 mortgages, which means selling your home means you have 2 to pay off, and still need a deposit for a mortgage on your new home. Consider the affordability before getting a second mortgage, especially if you want to move home in the near future.

There you have it! This is all you need to know about second mortgages. If you think you fit the criteria and could benefit from a second mortgage, it may be right for you. Always check you can afford the repayments as failing to make them means your home could be repossessed.

All information on second mortgages provided by Mortgages.Online.

All You Need To Know About Second Mortgages
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Posted in Real Estate Finance | Tagged Mortgage Loan | Leave a comment |
Posted on August 8, 2018 by Evans Walsh
Last updated: Aug 8, 2018 14:22

How are the new home loans changing the real estate landscape for doctors?

What keeps the 20-something professionals from owning their own homes and apartments? A recent survey of the doctors in the USA shows that they do not finish paying the mortgage of their own homes or manage to buy an apartment by the time they are in their late 30s. In the last two years, the number of Continue reading →

How are the new home loans changing the real estate landscape for doctors?
5 (100%) 1 vote

Posted in Real Estate Finance | Tagged landscape for doctors | Leave a comment |
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