Mortgage Advice for Residential Real Estate
 
Mortgage Advice for Residential Real Estate

When it comes to owning property many people around the world will tell you that this is a lifelong dream. While once an opportunity that seemed to be reserved for either the wealthiest or the most miserly among the general population home ownership is now something that is accessible to a larger segment of the population than ever before.

This is good news for many but for some can lead to confusing encounters with mortgage brokers and serious sharks along the way. The best advice that anyone can give someone attempting to embrace the dream of real estate ownership is to deal with a reputable company when it comes to obtaining a mortgage. Even when dealing with reputable lending companies you must watch out for those who do not have your best interest at heart.

If you would like some very practical advice when it comes to getting a mortgage, then you are at the right place. First of all, avoid lenders that are encouraging you to take a loan for more money than you are comfortable repaying. Foreclosures are at a record high when it comes to the mortgage industry at the moment because of predatory lending practice on behalf of some mortgage brokers. These practices include convincing people to borrow more money than they could realistically hope to pay over time and have any quality of life as well as convincing homebuyers to take out adjustable rate mortgages in the beginning in order to procure lower rates.

Shop around before you decide to buy when it comes to mortgages. This doesn't mean to actually apply for mortgages all over town but do the research and compare rates before applying with any one company. Talk to several different brokers and find out what they have to offer you that the other company down the road cannot or will not offer. Keep in mind that mortgage companies will offer everything under the sun from free toasters to free vacations in order to get you to go with their company. The proof is in the terms however. It is simply not worth that free toaster if you are going to end up paying a 6.9% interest rate instead of a 5.9% rate. You will have paid for that toaster many times over in the process of paying the mortgage.

Even after you've applied for a mortgage, if the deal seems to be going south check out your other options. There are all kinds of problems that crop up along the way. You are not marrying the mortgage broker. Nine times out of ten you aren't even making any sort of commitment at all to your mortgage broker. You will however be living in the house you select. If there is a problem with the mortgage company for the specific home you want do not hesitate to change in order to get the home you desire for your family rather than allowing the mortgage company to dictate what kind of home you can buy.

I mention this because we had a very similar problem when we purchased our turn of the century home. The mortgage company didn't think the home was worth the risk because of its age. We saw the beauty and the potential in our home that is coming along quite nicely and managed to be approved and financed in short order with another mortgage company. If this was the case in our situation, chances are that it will work for others as well.

In all honesty, it is nearly impossible to buy a home in this day and age without taking out a mortgage. It is best however if you see the process as a learning experience rather than an abject lesson in intimidation. This is your home and your money that will be spent in order to purchase the home. You are asking them for a loan but quite frankly, they need your business. Do not hesitate to shop around for the best deal with a mortgage just as you did when finding your home.



683

Search
Recommended Resources
Are You Committed to Your Real Estate Investment? There are many questions that should be asked before embarking upon a ...
read more

Benefits of Flipping Real Estate The obvious benefit and sought after benefit of flipping real estate is the profit. This ...
read more

Buying Real Estate for Your Family The very best and most enjoyable reason to purchase real estate by far is ...
read more

Buying Real Estate Foreclosures When looking for a home for you and your family you will come across all kinds ...
read more

Common Risks Faced by Property "Flippers" The first thing that should be noted is that flipping houses is a great ...
read more

Common Risks Involved in Real Estate Investments While a good many millionaires will agree that their fortunes were made in ...
read more

Curb Appeal Matters When Selling Real Estate First impressions matter most. This is one concept that many homeowners trying to ...
read more

Does Staging Sell Real Estate? There is something to be said about a neat and tidy house when you are ...
read more

Finding the Right Realtor for Your Real Estate Needs Whether you are looking for a home of your very own ...
read more

Flipping Houses for Fast Real Estate Profit One of the rising stars when it comes to real estate investment is ...
read more

Flipping Houses for Fun and Profit For those of you who watch on the edges of your seats week after ...
read more

Has Television Changed the Face of Real Estate Investing? If you take a look through the television stations on almost ...
read more

How to Find a Good Real Estate Investment Property There are many ways in which you can find a great ...
read more

Is an Inspection Really Necessary? One question that seems to be commonly asked among those who are interested in real ...
read more

Is Real Estate Investing for You? There are all types of investments in this day and age. One of the ...
read more

Lease to Own Real Estate Credit problems plague people across the globe. These problems can lead to many other problems ...
read more

Mortgage Advice for Residential Real Estate When it comes to owning property many people around the world will tell you ...
read more

Real Estate Investing for the First Timer You have probably read all the information on the market as it relates ...
read more

Real Estate Investing There are many methods for building fortunes in the world today. One of the most accessible even ...
read more

Real Estate Investors Offer Perks to Retain Tenants What tenant wouldn't love the allure of high speed Internet and a ...
read more

Selling Real Estate in a Sluggish Market Real estate is one commodity that many depend upon to get them through ...
read more

The Flipside of Flipping Houses Television programming and infomercials of all styles will have you believe that flipping houses is ...
read more

Things to Avoid When Flipping Real Estate Flipping property is rising in popularity as a form of real estate investing. ...
read more

Things to Look for When Buying Personal Real Estate There are all kinds of things you will want to consider ...
read more

What is Pre-Construction Real Estate Investing? The idea of pre-construction investments when it comes to real estate is actually quite ...
read more

Main Menu
Home
Sitemap


website monitoring
Articles
Are You Committed to Your Real Estate Investment?

Benefits of Flipping Real Estate

Buying Real Estate for Your Family

Buying Real Estate Foreclosures

Common Risks Faced by Property "Flippers"

Common Risks Involved in Real Estate Investments

Curb Appeal Matters When Selling Real Estate

Does Staging Sell Real Estate?

Finding the Right Realtor for Your Real Estate Needs

Flipping Houses for Fast Real Estate Profit

Flipping Houses for Fun and Profit

Has Television Changed the Face of Real Estate Investing?

How to Find a Good Real Estate Investment Property

Is an Inspection Really Necessary?

Is Real Estate Investing for You?

Lease to Own Real Estate

Mortgage Advice for Residential Real Estate

Real Estate Investing for the First Timer

Real Estate Investing

Real Estate Investors Offer Perks to Retain Tenants

Selling Real Estate in a Sluggish Market

The Flipside of Flipping Houses

Things to Avoid When Flipping Real Estate

Things to Look for When Buying Personal Real Estate

What is Pre-Construction Real Estate Investing?

 

Disclaimer: The Publisher has strived to be as accurate and complete as possible in the creation of this website, notwithstanding the fact that he does not warrant or represent at any time that the contents within are accurate due to the rapidly changing nature of the Internet.

This site is a common sense guide to Mortgage Advice for Residential Real Estate. In practical advice websites, like anything else in life, there are no guarantees of income made. Readers are cautioned to reply on their own judgment about their individual circumstances to act accordingly.

This site is not intended for use as a source of legal, business, accounting or financial advice. All readers are advised to seek services of competent professionals in legal, business, accounting, and finance field.

Any perceived slights of specific people or organizations are unintentional.

Home| Sitemap|Budget Hosting

7.my © All Rights Reserved.