MANY OF OUR READERS WANT TO GET REAL-ESTATE MONEY for either single- or multiple-family properties. We can help them find suitable lenders if:
- The borrower has some cash to put down on the desired property
- The borrower’s credit rating is reasonably good. (It need not be perfect; but it should not be poor. When in doubt, you can usually get a copy of the person’s credit report for more information.)
- The borrower has a steady income which can be verified by the lender
- The property is in reasonably good condition and will be well cared for by the new owner
THE KEY TO GETTING A REAL-ESTATE LOAN
The key to getting a real estate loan is to have a property that will pass inspection by the lender. If you want to deal in less-than-prime condition properties, then you should look to repossessed properties. With these properties:
- The lender who repossessed (took back) the property from its previous owner is often willing to lend on it
- Because the lender knows the property but still wants to get it of their hands
- Without the need for an inspection, appraisal, or the other usual reviews
- And often for zero cash down, meaning that you don’t have to come up with a cent
- While paying the closing costs, which means that you don’t have any expenses except for your attorney, who will often be willing to wait
- Putting you into the real estate business for very little money of your own
K-12 : The IWS Complete Real Estate Loan Getters Kit
The IWS Complete Real Estate Loan Getters Kit shows you how to get real estate loans for either a client or yourself. Lists hundreds of active real estate lenders seeking first and junior mortgage loans for a variety of property types. Loan amounts range from a few thousand dollars to many millions, depending on the property, its location, and value.
IF YOU’D RATHER BUY FIRST-RATE PROPERTY
If you’d rather buy first-rate property, you can take these easy steps to find lenders who may work with you:
- Get a directory of real-estate lenders and look for lenders in the state where the property is located
- Call or write each lender, giving details of the loan you seek — the amount, for how long (called the term), and how the loan could be repaid to the lender
- Fill out the lender’s loan application and send it in or bring titi in if you’re in a big rush. (Note that some lenders will give very fast answers; others may take weeks. But once you get your loan you will forget the time that was needed to obtain it.
- Look in your local Sunday papers for real-estate companies and brokers offering good loans. While you may have to pay points, they are worth it if you get the loan. And the points can be “rolled into” the loan so there’s no out-of-pocket cost to you.
REAL-ESTATE LOANS ARE THE EASIEST TO GET!
Start getting yours NOW!
Just act fast.