Obtaining Financing
Obtaining Financing is one of the most challenging
parts of a real estate transaction. There are many types of financing
options available to borrowers for the purchase or refinance of real
property. Some of these are conventional uninsured, conventional insured,
FHA, VA, and ARMS. If you are unsure of the difference between these types
of loans, you can consult Real Estate Attorney Ingrid Santamaria.
Lenders
look at many factors to determine a borrower's creditworthiness, such as income,
source of income, credit score, debt to income ratios, and loan to value
ratios of the property. Before you decide to purchase a home, you
should contact a lender to determine the loan amount that the lender will
pre-approve you for.
If you have any questions
regarding Obtaining Financing or would like to find a Mortgage Lender,
please do not hesitate to contact our office so that we may clarify any of your
concerns or put you in contact with a reputable Mortgage Lender or Broker.