Real Estate Investing Facts

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1. Know your financing options. Different lenders have different products as well as rates. A mortgage agent will find you the best product and rate.

2. Don’t confuse an appraisal with a home inspection – you need both! An appraisal determines the worth of the property by estimating the market value of the land and building. A home inspection inspects the adequacy and condition of the building and all major systems.

3. Place conditions on your offer. Conditions provide you with the flexibility of withdrawing your offer if you are unable to obtain the necessary financing, or if the inspection reveals structural problems with the property. Even with pre-approval, Investors who make an offer without conditions do so at their own risk. continue reading>>.

Canadian Foreclosures

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Hans Anderson

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As a real estate investor it only makes sense that you understand what a mortgage broker can do for you when in need of investor financing. A mortgage consultant, agent or specialist are all basically the same thing. Unless you are buying all cash or you are making a deal with the seller for 100% financing the mortgage process will probably come up.

Watch the free List Machine Pro webinar. There is nothing better to use for lead generation or to Build a List of buyers or sellers, it’s like nothing you have ever seen before, attend the free webinar.

A mortgage broker usually owns the company or franchise while the above work under the mortgage brokers license. Mortgage agents have access to the same mortgage products as his/her broker.

When you go to a traditional bank you are limited by the mortgage products that the bank offers. If you do not meet the lending criteria of that particular bank you will have to look elsewhere. What most consumers do not realize is that every time they go to a different bank, a credit check happens. The result is that each time a credit check happens your fico or beacon score goes lower. This may affect the rate you could get or stop you from being able to get qualified for a mortgage at all.

A mortgage agent checks your fico or beacon score one time and can have access to 40 or more lenders and their products. Traditional banks are limited to only their own products.

They will simplify the entire mortgage process; negotiate the best possible products and lowest rates on your behalf. They do the paperwork and provide you with the peace-of-mind that you are getting the best solution possible. You will be given an explanation of the entire process and have all of your questions from beginning to end answered. It is very common to have a mortgage agent show up at your house for a 9:00 p.m. appointment for your convenience (try to get a banker to come to your house). They will provide maximum flexibility in financing choices and counsel you on credit and mortgage qualifications.

A mortgage agent gets paid a finders fee from the lender that the mortgage was arranged with. Sometimes there is a brokerage fee which is paid by the borrower, depending on the circumstances. Mortgage agents also have access to profit lenders in which case a brokerage fee is added. More often than not the lender pays a finders fee and there is no brokerage fee.

A mortgage agent can be a great alley when purchasing investment properties.

Hans Anderson

Canadian Foreclosures

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