If you are thinking about purchasing vacant land or a home, I am here to help with the financial process.
First and foremost, don't be intimidated by the process of applying for a loan and buying a home. It is not as complicated as it seems. Lenders of all types are begging for home loans right now. They can earn more interest on a home loan then they can by making other investments. So they want and NEED your business. They are more than willing to "bend over backwards" to make you a new home loan.
Second, all home mortgage loans are based on two things... (1.) Your "ability to repay" the loan and... (2.) The "value of the property" you are buying. "Ability to repay" means.. Are you making enough money each month to be able to afford the payments (including taxes, property insurance and mortgage insurance)? "Value of the property" means... What is the fair market value or appraised value in dollars (sale price) of your home and is it in an area where home prices will rise or at least stay the same?
I have included two real estate mortgage referrals for you to consider. One is a bank and the other is a mortgage broker. I have included these two because they are both excellent at what they do. Bankers are usually somewhat limited by the products their bank offers, but when you fit into one of their programs, they do it very well; mortgage brokers have access to many types of financial products, and can often do the seemingly impossible. There are bad guys in both markets, so it is really a “Buyer Beware” situation with real estate loans – but both of these sources are in the group of “The Good Guys.”
There exist special programs for the self-employed and for lower income and those with a challenging credit score. Contact me directly if you fall into one of these categories.
Let me know if I can help in any way. It’s a good life!
Sound Mortgage Group
P.O. Box 820
Freeland, WA 98249
Toll free office: 800.609.5528
Washington Realtor Faculty
720 North Argonne Road, Suite E
Spokane Valley, WA 99212
Mortgage 101 by Gary Ingram Incorporated
With over 175 informative documents and interactive tools, Mortgage 101 can help you find the answers to your mortgage questions. View current interest rates, sign up for a monthly newsletter, use interactive calculators and more.