The Method of Choosing Mortgage LendersTechnically a Mortgage lender is an institution which provides loans to people to purchase real estate. These institutions could be banks, credit unions, life insurance companies, trust companies that provides finance for buying land, houses and real estate. There could be thousands of mortgage lenders in your area varying from Read more about Choosing Mortgage Lenders[…]
Find an area and start researching the homes for sale. Or alternatively start researching great growth areas this will find you an area. This will be one of the most time consuming steps of all, however this is most important and where the serious
Is An Interest Only Mortgage For You?This depends a lot on your situation and probably more on what you think the property market is going to do if you are an investor. Interest only mortgage have significant lower repayments as they have no principal amount attached. This alone provides a great incentive for investors as Read more about Interest Only Mortgage[…]
There is the old question that comes up every now and then, – “Should I buy that studio apartment?”
Here is some of the “noise” that surrounds them-: “They won’t lend against small inner-city studio apartments, You won’t get approval if the floor size is less than 50 sqm, Student apartments are not an option, Some lenders won’t lend for apartments in large complexes, Hotel or motel conversions are no good, The location of the unit within the complex is important
Cross collateralisation occurs when the bank uses the security for one loan to secure another loan. What you want to aim for is to have any property you own, investment or otherwise, financed with free standing finance
Remember cross collateralisation can bring your real estate investment financing plans to a standstill.