Archive for the ‘Loan Agreements’ Category

Here Are The Top 7 Reasons Why You Need A Real Estate Agent

Saturday, April 27th, 2019

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By Danica Reynes

Hiring a real estate agent can help you tremendously when buying a new home or selling your existing one. A good real estate agent has the experience and know-how to help you with everything from negotiating the best sales price and closing terms to determining whether the home you purchase will be near desirable locations like schools, churches and shopping centers.

Dealing with real estate transactions is more of a headache than a lot of people realize. Real estate agents provide the expertise needed when buying a house, as they have the experts to finalize the transaction and ensure that paper work is properly completed. Here is a list of reasons to find a great real estate agent who has your best interests in mind:

Benefit from a real estate agent’s experience and knowledge

The majority of people will make just a few purchases or sales of property in a lifetime. Due to this fact, you may not have as much of an ability to handle such situations as well as a trained professional. Real estate agents have the experience and know-how to make real estate transactions easier and right for you.

Use your agent’s resources and expertise

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Agents may meet scores of prospects each week that may include everyone from buyers and sellers to other agents. You are able to save a good amount of time as they have correct information about the properties which are likely to be sold at present and also about the people who would like to buy some properties. Ultimately, you’ll discover that searching through piles of newspapers to help you find the next deal or sell your home may not be as necessary as you once thought. They can get access to multiple listing services (MLS), where real estate properties are listed region wise, including Santa Clarita real estate.

Find out more information about various neighborhoods

On many occasions, real estate agents hop from one neighborhood to another doing their job. This experience and knowledge gives you the advantage of learning more about your areas of interest, especially when you are looking for a new home. Your agent can tell you about people in a specific neighborhood, about the proximity of the location to churches and hospitals, what schools are in the locality, and what malls or grocery stores could be at your convenience.

Obtain the most up-to-date information on buying and selecting a home

When planning to sell your home, your agent can give you honest advice of what needs to be repaired or done with your home so it can be very attractive to buyers. In order to maximize the probability of attracting as many prospective buyers as you can, you may need to attend to as many little things as possible including everything from the lights to your kitchen and garage. While on the lookout for a new home, as per your needs and dreams, your agent will direct you to homes similar to your taste. You can find out from her which properties fit in your predetermined budget, as well as informing you of your financing options.

Close the best deal with the help of your agent

Finding a good real estate agent with plenty of experience and know-how can always win you the best deal possible. She can find the best buying or selling terms for you as well as the right conditions, so you will save money when buying or selling your property.

Have your real estate agent assist you with the documents

Real estate documents are rather unforgiving of mistakes, and they can be as thick as three inches. Use a real estate agent to help you correctly complete the necessary paperwork when handling home purchases and sales. You also have the option of asking your attorney to handle the documents on your behalf.

Benefit from having someone to address your concerns

Even when the buying, or selling, of real estate property goes smoothly, there are still issues that may arise after the fact. Any good real estate agent will help you even after the closing of the sale and thus reduce your burden a lot.

Working with a real estate agent does not cost your more money or increase the burden of buying or selling a house. Your friendly real estate agent will provide you with a lot of choices and help you throughout the whole process. Lastly, they help you save time, money and effort when you sell or purchase a home.

About the Author: You can count on Santa Clarita real estate agents. Learn more about them here:


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Mortgage Loans For Bad Credit And Alternative Options For Buying Houses

Saturday, December 1st, 2018

By Simon Volkov

Mortgage loans for bad credit are also known as subprime lending. This means loans are assessed with a higher rate of interest because borrowers are categorized as high-risk by the major credit reporting bureaus.

While mortgage loans for bad credit can be tempting, this type of financing often leads to personal bankruptcy and foreclosure. The results can devastate borrowers’ credit for years to come and prevent them from qualifying for any type of loan.

Instead of taking out a high-interest mortgage loan, borrowers should take on credit repair strategies to improve their credit rating. Interest rates are based on credit scores and can add as much as 2-percent additional interest when FICO scores fall below 600 points. It is best to have a credit score of 720 or higher to obtain the lowest rate of interest.

Mortgage loans extend for 15 to 30 years. As little as one-quarter percent additional interest can add thousands of dollars to the loan balance. Therefore, it is crucial to calculate the true cost of entering into bad credit mortgage loans.

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Prior to the banking industry collapse it was relatively easy to qualify for a mortgage loan. In fact, subprime lending has been blamed for the demise of the real estate market. Millions of homeowners obtained no money down, no credit check, no employment verification, bad credit loans which included a balloon payment. Many borrowers were unable to afford the balloon payments which eventually forced them into foreclosure.

Today, banks scrutinize home loan applications and have tightened lending requirements. A recent report by Reuters states, “existing home sales dive to a 15 year low” leaving sellers holding real estate as property values decline.

In attempt to locate buyers, many property owners are turning to creative financing strategies such as lease options, seller carry back mortgages, and subject 2.

Lease options involve contributing a portion of rent money towards purchasing the home at a later date. Tenants typically provide sellers with a down payment and enter into a real estate contract for two to five years. This provides buyers time to build or re-establish good credit so they can qualify for a mortgage loan when the contract expires.

Both buyers and sellers should conduct due diligence. Lease option contracts should be executed by a real estate lawyer. Contracts should include legalese to protect both parties in the event of default. It is imperative to investigate the property to ensure the seller is current on their mortgage loan and property taxes.

Seller carry back mortgages involve the seller carrying all or part of the financing while the buyer engages in credit repair. Few sellers offer 100-percent financing. Most require buyers to provide a down payment and obtain bank financing for a portion of the loan. In essence, buyers have two mortgages. Since the seller is carrying part of the loan, banks are often more willing to approve financing. Once the seller carry back contract expires, buyers refinance the mortgage to obtain a reduced rate of interest.

Home Path Mortgage is a special financing program offered by Fannie Mae. Qualified buyers can obtain down payment assistance from outside resources and are only required to provide a 3-percent down payment. Home Path offers Fannie Mae foreclosure properties; most of which are priced at 10- to 20-percent below market value.

The Department of Housing and Urban Development (HUD) offers home buying grants through the Neighborhood Stabilization Program. Buyers and real estate investors can apply for NSP grants when buying houses in areas hit hard by foreclosure. Applicants must submit applications through local agents. A list of state NSP grant providers is published at

These are just a few alternatives to entering into bad credit lender loans. While buying a house is exciting and rewarding, it is important to get personal finances in order before beginning a house hunting expedition. Otherwise, you will pay considerably more for the loan and potentially place yourself into a risky situation which could lead to foreclosure and ruin your credit for years to come.

About the Author: Discover more mortgage loans for bad credit alternatives from California real estate investor and author, Simon Volkov. His website provides information regarding hard money lenders, creative financing strategies, buying foreclosure real estate, personal finance, and real estate investing opportunities at


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