SiteMap For Freedom Steps With Property Investing

Home Page
Begin Real Estate Investing the Easy Way
Discover how easy it is to begin real estate investing and build wealth with property. An experienced property investor shares his knowledge and experiences with you.

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How To Start
Your Real Estate Investment Guide
Use this real estate investment guide to help you get your first investment property and then move on to set yourself free with real estate investing.

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Finance
Real Estate Investment Financing, 7 Tips To Help With Getting The Best Result.
Real Estate Investment Financing - These 7 tips can enthusiastic and hopeful applicant in to an long term client of any financial institution.

Statement Of Financial Position - facilitate your property finance application
Statement Of Financial Position - give your self the best chance for a real estate investment loan by having a list of your assets and liabilities.

Refinancing Real Estate Investment, Your First Step To Freedom
By refinancing real estate investment, you gain access to money that is lying dormant and put it to use.

Loan to Value Ratio - learn what it is and how it affects you
Loan to value ratio (LVR) is a ratio that the banks and financial institutions use to assess the level of debt that a certain asset should have. The LVR for property is higher than the LVR that banks

Lenders Mortgage Insurance - use it to increase your investing power
Lenders mortgage insurance is a great tool in the arsenal of any potential investor. It will help you to borrow more when purchasing property, improving your return on equity.

Line Of Credit, The Sophisticated Way To Finance Your Real Estate Investments
A Line Of Credit will give you the freedom and flexibility to repidly move towards your property investing goals.

Use Your Home Equity To Finance Your Real Estate Investments
Your home equity will enable you to begin investing in property, and then it can make you wealthy. Read on to see how.

Other Finance
Property Investment Finance
Real estate investment finance puts power in your hands. It's an opportunity to vastly multiply your return on investment and be way more creative in your wealth building.

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Property Selection
Use these Property Selection Tips to Help You Find Long Term Success
Investment Property Selection is vital to your ongoing success. Use these tips to help you find the easiest to manage and most profitable properties.

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Business Plan
Use this business Plan to Keep you Focused and Moving Forward
Here is a simple business plan to guide you as you build your property portfolio and wealth through investment property.

Real Estate Investing Primer
Real Estate Investing Primer - Investing in real estate does not have to be complilcated. Here are some easy strategies to begin investing in property. property investing is not a get ricH scheme.

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Why Property
Why Property Investing - Compelling Reasons to Invest in Property
Why property investing as a vehicle for creating your financial freedom? Here are three good reasons to invest in property, plus several others you may not have thought of.

Financial Freedom Can Be Yours With Real Estate Investment Property
You can have financial freedom, sooner than you think. Here is a picture of how to do it.

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Flipping Property
Flipping Real Estate - Follow these 7 Simple Steps to Making Money
Flipping real estate - This outline shows two ways to do it and outlines 7 simple steps to follow

Make Money Flipping Property - Discover the real way to make money property.
Make money flipping property - This articles outlines 10 principles you need to be aware of if you want to flip real estate.

Flipping Real Estate Contracts To Build Your Capital Base
Flipping Real Estate Contracts is a low cost way for beginner investors to accumulate capital.

Tips For Flipping - 7 Simple tips for flipping real estate.
7 Tips For Flipping Houses that will help find and analyze the right property to flip and avoid the mishaps.

Calculate profits flipping real estate by understanding your costs.
Calculate Profits Flipping - This article outlines how to calculate your profits for any particular flip or contract assignment by understanding the costs involved in making a deal.

Risks Flipping Property - Be aware of the risks involved in flipping real estate
Risks Flipping Property - There are risks involved in flipping real estate, be aware of what can happen and you will avoid setbacks. This article gives a typical example of what can happen.

Real Estate Bubble Aftermath -, Disregard talk of a terrible aftermath....
Real Estate Bubble Aftermath - The end of the real estate bubble has been talked up by a number of sources, but who really benifits and should you pay any attention.

Wholesale Real Estate Investing - Skyrocket your net worth $20,000 to $100,000..
Wholesale Real Estate Investing - discover how you can find and acquire large chunks of equity for cents in the dollar and skyrocket your net worth by $20,000 to $100,000 on every real estate deal ...

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Software
Real estate investment software package s - Help with property investing
Real estate investment software package s can be divided into 2 groups. Those that help you before you buy and those that help you after you purchase a property.

Real Estate Analysis - How to Construct an APOD and Nail Your Next Investment
A must-read if you are working with or want to work with rental property. Learn what you need to know about an APOD, how to use it to evaluate the property's first-year performance, and how to constru

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Legal Stuff
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Loan to Value Ratio - LVR, What Is It, How Can It Help You?

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Loan to Value Ratio - What Is It & How Can It Help You?

Simply put loan to value ratio(LVR) is a ratio that the banks and financial institutions use to assess the level of debt that a certain asset should have.

What does it mean if a bank will give you a HIGH loan value ratio when you are applying for a loan on a particular investment property?

What does it mean if a bank will only give you a LOW loan value ratio when making a morgtage application.

What Does A High LVR Mean To You?

If you can get a high LVR then that means that the bank or financial institution is willing to loan you more of the purchase price of your property.

For example, the loan to value ratio for property is higher than the LVR that banks will give for say shares.

So for example say you wanted to purchase a $100,000 investment.

A bank will be happy to lend you $80,000 on a $100,000 property giving an LVR of 80%

If you were investing in shares the margin loan (LVR) they would give you is usually about 50% and some times less. This would give you an LVR of 50% or less! So that means they would only loan you $50,000 of the $100,000 worth of shares you wanted to buy.

Lenders Mortgage Insurance - Overcome a Low LVR?

If you are given a low LVR by the bank when applying for a loan, then they are giving you a measure of what the level of debt or risk on that property that they are willing to support.

In the case of property, this means that you will either need to fund the difference out of your available cash or find further finance to purchase.

The alternate method to overcoming the situation where you are given a low LVR is to use lenders mortgage insurance.

The Differences between Financial Institutions

There are differences between financial institutions.

Different banks and other mortgage originators will use different valuers and have different methods of assigning or determining value.

Some will be more keen to get your business and so be willing to offer you a higher LVR. This is better for you.

So shop around when looking for a loan and find the lender that will give you the best loan to value ratio that you can get and preserve your available capital reserves.

Return From Loan to Value Ratio To Real Estate Investment Financing Or go to Freedom Steps With Property Investing

Quick Links

Property Investment Finance | Lenders Mortgage Insurance | Loan to Value Ratio | 

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Creative Financing - Use it To Get A Better Real Estate Deal

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Creative Real Estate Finance

Use it To Get A Better Real Estate Deal

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Peg Holland - Dec 4th, 2007

When it comes to real estate investing, there are plenty of reliable resources that provide some creative financing options:

Get A Seller's Concession

In a slow market, such as we have today, a motivated seller may readily concede a portion of the closing costs to offset the buyer's financial burden at the closing. For example, if you, as the buyer, are purchasing a property for $100K, ask for a seller's concession of 3 to 5 percent, which is within the guidelines that most banks allow, depending on the amount financed. If you ask for a 3 per cent concession, which in this case is $3,000, the seller is agreeing to receive $97,000 at closing. Once you have this agreement in place, be sure to include it in the contract.

Get 100% Financing

Because of the slow market we are in today, you will find many in the lending industry tightening up their practices. However, there are still plenty of mortgage products to meet most buyers' needs. As an example, there is an 80/20 mortgage that allows for the entire cost of the property to be financed by the bank. This is especially beneficial if you do not have a down payment. Here's how it works: The primary loan (i.e. the first mortgage) represents 80% of the mortgage and the secondary loan (i.e. second mortgage) represents the remaining 20%. It's best to try to get a fixed rate on the first mortgage because more than likely you may have to pay a higher adjustable rate on the second mortgage. Go to banks who have been in business for a long time or mortgage brokers who have access to a wide number of lenders and ask them what type of mortgage products they offer. Recognize that although this will be 100% financing, you still may need to pay closing costs for the loan, so ask, at the very beginning, what fees are involved with the funding.

Find A Program Or Organization

National programs abound for first time homeowners and investors also. There are programs that offer down payment assistance to first time home buyers with low to moderate income. Look up the Neighborhood Assistance Corp of America (naca.com) which offers its members counseling, low interest mortgages with no down payment or closing costs and also renovation assistance. There may be rules and restrictions, so be sure to do your due diligence before making a decision.

Use OPM

That's right...buyers can use other people's money by partnering with investors, friends, colleagues and even family as well as your traditional bankers and mortgage brokers. Your agreement with your partner should specify the loan amount, the interest rate, the payback period and any other stipulations you might make. It's best to set up the proper paperwork through a real estate attorney.

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Return from Creative Real Estate Finance

To Refinancing Real Estate Investment, Your First Step To Freedom

Or Return To the Home Page Freedom Steps With Property Investing

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About the author: Peg Holland

Peg, owner and CEO of Paragon Enrichment Group, a consulting firm for home based internet businesses, has been involved with network marketing for several years.

Prior to that she had held corporate managerial positions where her financial skills were used daily as she forecasted various new business opportunities.

Also, Peg had previously been a licensed Realtor, hence her continued interest in the Real Estate/Mortgage Industry. http://www.6figuresasap.info

Visit www.6figuresasap.info

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Succeed Financially by Using Credit Wisely

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No Debt Is Good: Aiming For A Debt-Free Life

Did you know that you're being deceived? Right now, everywhere. On TV. In the newspaper. On the radio. In magazines. You're getting the same message over and over again: "buy now, pay later"; "consolidate your debt into one easy monthly payment"; "get a secure line of credit". Or the perennial favorite, "don't worry, it's good debt".

The truth is, there is no such thing as good debt. Debt is debt. It's money you owe someone, money that needs to be paid back at some point in the future. "Good debt" is a misnomer. There's better debt, sure, because there's also really bad debt. But debt is never good. Not really.

We Live In A Debt-Ridden Society

We're encouraged to buy things on credit all the time. Why? Because it's a profitable business for lenders. They're not doing it out of the goodness of their hearts. They're in it to make money, and their target is you.

Of course, it's hard to live entirely without debt. To buy a home these days you almost always need some kind of mortgage, this is true -- few people can afford a house outright, especially at the beginning of their careers and families. But you don't have to be in debt for the rest of your life. A mortgage is meant to be a temporary debt, one backed by the (normally) stable value of the property you purchased with it. It should be for a reasonable, affordable amount that can be paid back within 10 to 20 years of the purchase. And you should have some of your own equity in the house right from the start. But that's not what people do anymore. They get mortgages for 100% of the appraised value of the house. Worse yet, they get interest-only mortgages that leave the principal -- the amount you borrowed -- untouched. Is it no wonder that these people eventually find themselves drowning in debt?

It Goes Beyond Mortgages

But it goes beyond mortgages. A debt mentality pervades our society. Once you have equity in your home, for example, the banks urge you to "free up" the money with home equity loans and secured credit lines. Use the money to better your life, they say, by renovating the house, taking that big vacation you've always wanted, or -- here it comes -- consolidating your other debt.

Your Other Debt?

Your other debt? Sure. You think the only debt people have is mortgage debt? No, they have plenty of other debt. It's a banker's wet dream out there today... Credit lines. Cash advances. Overdraft coverage. Automatic credit card limit increases. Pay nothing now. If you're not careful, you can build up a lot of debt very quickly.

That's The Problem

And that's the problem: those debts have to be repaid sometime. Rack up too much debt and soon you'll be worrying about the monthly payments. Your peace of mind will suffer, and possibly other things like your marriage and your job. Is that the kind of price you're willing to pay in order to have things you couldn't otherwise afford?

The Solution

The solution isn't debt relief or debt consolidation. It's debt avoidance. You should do everything in your power to avoid debt. Because too much debt will tear you down, physically and mentally.

What if you already have a lot of debt? There are things you can do. Yes, you can consider consolidating the debt, but that will only work if you're able to stop accumulating more debt once your current payments are lowered. Otherwise, you need to attack your debt using a step-by-step plan that involves paying off the highest-interest debt as quickly as possible, then using the money you free from that debt payment to pay the next-highest debt, and so on. It's the snowball debt reduction method, and it works.

The key to all of this is willpower. Make the commitment today to be debt free as soon as possible. The peace of mind it gives you will make it all worthwhile in the end.

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Eric Giguere is a proponent of debt-free living. Visit NoDebtIsGood.com for more debt avoidance tips and resources.

Article Directory: EzineArticles

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Lenders Mortgage Insurance
The Secret that
Professional Investors Use

You may have already discovered lenders mortgage insurance (LMI).

Perhaps a loan officer mentioned it in passing during your borrowing capacity assessment interview.

You should always have your finance capacity assessed prior to looking for property. This will do several things for you when looking and evaluating properties.

1. Firstly it will help you to home in on the right property type and price range of property to look at and avoid wasting your time.
   


2. Secondly when you do find a property that fits your property investment criteria
   then you are in a more powerful position. Both in terms of bargaining for the price you will pay negotiiating the terms that suit you best.

Lenders Mortgage Insurance is a Tool

Do not view LMI as an expense to be avoided.

LMI is a very useful tool that will improve your real rate of return or return on equity invested. I will outline the way that this works below.

Because you can borrow more, with your existing financial resources, LMI will also help you progress faster toward acheiving the property investing nirvana that you are seeking. Whether that be total financial independance, extra money to give to the worthy cause of your choice or the knowledge that you have total financial security.

For now just say that if you want to buy a property worth $100,000 then the bank would normally ask you to come up with $20,000 for the deposit. Which is a standard requirement of many banks.

This is where lenders mortgage insurance (LMI) comes into play. Using LMI you can reduce the amount required for the deposit to as low as 5 percent, perhaps less, depending on your financial institution.

LMI is Your Greatest Ally

Many new investors see a request from the bank to use of lenders mortgage insurance as an added expense. An additional cost barrier imposed by the banks to stop you from acheiving your investment goals.

Do not look at it this way. LMI is your friend. Professional investors (this means people like you) see the use of LMI as their greatest ally when it comes to obtaining the finance they need.

As I will show you below LMI is a very useful tool for real estate investors

LMI is a Capitalizable Expense

The great thing about using lenders mortgage insurance is that you can generally add the amount that LMI will cost you on to the amount being financed.

Why is this so beneficial to you?

Because it saves you using your precious available capital or equity. This can make an substantialf difference when you want to move on to your next investment property.

Is LMI a Tax Deduction

Lenders mortgage insurance can be viewed as a cost of doing business.

As such it can be deducted from your gross income when it comes to tax time.*

Your gross income is the rental income from your investment property and any other income you may have to declare in a tax year.

LMI Improves Your Return on Equity Invested

Quite simply put lenders mortgage insurance will improve your return on equity invested by allowing you to invest less equity in each property you buy.

So from the example above, using the standard requirement of the need for a 20% deposit with a $100,000 property. This would give a loan to value ratio of 80% and then your capital requirement would be $20,000. ($100,000 x 20%).

If the value of your property were to go up by 10% in one year to be valued at $110,000 then your net increase would be $10,000.

This equates to a 50% return on equity invested. ($10,000 / $20,000 x 100)

If by the use of lenders mortgage insurance you were able to reduce the deposit requirement ot 5% or $5,000 ($100,000 x 5%) and your property rose in value by the same 10% then ou would have a 200% return on equity invested. ($10,000 / $5,000 x 100) of 80%.

If you had $20,000 to invest you may think great, I'll just pay my $20,000 deposit and get my investment property. But if you used LMI you could lower the capital requirement to just $5,000.

In this case you culd then afford to purchase 4 properties instead of just your original one.

What's an LVR?

For a more detailed explanation see the loan to value retio page here.

For now it is enough to say that banks use your loan to value ratio (LVR) to calculate the level of debt (risk from the banks point of view) that they would be acceptable for a particular asset.

Some banks and financial institutions are more strict on this criteria than others, especially in the light of the sub-prime mortgage crisis that has caused a stir with less than optimally financed properties.

However that will not be you. You are aiming to obtain premium quality financing at terms favourable to you, not the banks.

And this is very acheivable, thousands of people have done it before you and millions more will do it in the future.

The Benefits of LMI - A Summary

In summary, lenders mortgage insurance can reduce your capital outlay requirements, enable you to progress faster with your property investment ambitions and improve your return on investment for any property.

Quick Links:

• Lenders Mortgage Insurance
  
• Borrowing Capacity Assessment
  
• Property Investment Criteria


• Loan to Value Ratio

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Refinancing Real Estate Investment, Your First Step To Freedom

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Refinancing Real Estate Investment

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MDC

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This Simple Technique Can Help You Get Your First Investment Property

And Then The Next And The Next...

Refinancing Real Estate Investment is one of the best ways to begin real estate investing and keep progressing in your freedom steps with property investing.

If you are just starting out one of the best ways to get the money you need is to use the existing equity you have in your home. The best thing about refinancing real estate investment is that it allows you to get started without having to find out of pocket money for the property deposit and purchase costs.

You do this by first refinancing your home.

There are two ways you can go about refinancing real estate investment property:

1. Use your home or other property to secure a loan for the next property.
   This is where you make a specific proposal to purchase a piece of real estate investment property using your home to secure the difference between the purchase price and the banks LVR (loan to value ratio) policy.
   
   This will end up in your home being cross collateralized with the associated future difficulties that can lead to.
2. Request your bank of choice to set you up a home equity Line of Credit.
   This is where the bank agrees to loan you any amount up to the limit determined by the available equity ou have in your home.

When refinancing real estate investment a cross colllateralized loan is the easiest to set up. It is probably the avenue that the bank or financial institution will assume you want to do it, but if you want to build a substantial real estate based portfolio, then request a line of credit be set up for you.

Then you will be able to access the money with ease and at your convenience.

For other advantages of a home equity line of credit or a line of credit generally refer to the HELOC page:

Lay the Foundations for Real Estate Investing Success

For the first investment property or maybe even the first two peices of investment real estate, a cross colllateralized loan is the easiest to set up. It is probably the avenue that the bank or financial institution will assume you want to do it, but if you want to build a substantial real estate based portfolio, then request a line of credit be set up for you.

Then you will be able to access the money with ease and at your convenience.

For other advantages of a home equity line of credit or a line of credit generally refer tothe HELOC page:
Home Equity Line Of Credit

A brief outline of the specific advantages when refinancing real estate investment are that you can start with little on no money of your own and as equity builds you can continue with your refinancing real estate investment properties and purchase more.

In this way Your asset base continues to grow, and it can all be funded by your growing equity base.

The way this works best is to always plan on holding your investment properties long term. If you adopt that attitude and ride out the occasional volatility of thte market then you are almost guaranteed success.

When refinancing real estate investment it is important that your first properties be new, so that you can claim maximum tax deductability for depreciation and expenses. You will need competent advice on this for your particular country and area.

See my other pages for tips on how to best set up your financing and reducing our tax burden in the asset building stage.

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Go from Refinancing Real Estate Investment To The Real Estate Investment Financing PageOr Return To the Home Page Freedom Steps With Property Investing

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Facilitate your property finance application with a Statement Of Financial Position

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Statement Of Financial Position

What Is It And How Do You Prepare One?

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A statement of financial position will quickly give your bank a clear indication as to your credit-worthiness when you are applying for Real Estate Investment Financing.

It is a clear and simple outline detailing your financial details puts you in the best position and could be a strong influence towards you getting the best terms such as a good LOAN TO VALUE RATIO for your intended investment property and possible interest rate reductions.

This can be best achieved with a statement of financial position.

A Statement Of Financial Position will quickly give any bank or financial institution a firm basis on which to evaluate the strength of your loan application.

This is a simple statement that lists your assets and liabilities in addition to your income and expenditure details.

Assets Section

This is where you list anything that has a resale value and then you list the value it could be sold for at that time.

List things like your home at it's current value, your car or cars at their insured value and an approximate value for your furniture.

I also list superannuationand insurance details although they don't actually have a resale value, but it gives a good impression to the evaluating loan officer. But I don't include these items in the subtotal here.

Liabilities Section

Here list all outstanding loans. That is any loans against your home, car/s and also list credit cards.

With credit cards list them at their current outstanding balance and then the credit limit for that card. Most banks will automatically take any credit cards you have at the fully drawn value when assessing your loan application and so it is worthwhile minimising or eliminating unused credit limits on excess credit cards.

Income Section

This is where you list any income you are receiving including wages, share dividends, rent from other property and interest from money on deposit.

Expenditure Section

This is less important to include because the bank's assessing officer will have their own method for assessing your ability to repay the loan based on the liability details you have given them above.

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Return from this page Statement Of Financial Position To The Real Estate Investment Financing Page Or Return To the Home Page Freedom Steps With Property Investing

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Use Your Home Equity To Finance Your Real Estate Investments

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Using Your Home Equity

By Sergio Haros

If you have owned a home for some time, you probably have amassed a nice nest egg of equity, particularly if you owned it through the recent price run up. So, how do you use it for practical needs?

The equity in a home simply refers to the difference between the value of a home and the amount you owe on it. An example always helps, so let’s use a simple one. Assume you purchased a home for $150,000 in 1990 and put $15,000 on it. As the years passed, the home appreciated in value and you paid down the mortgage. Today, the home is worth $200,000 and you owe $100,000 on it. Your equity is $100,000, the value minus the remaining amount you owe.

Equity in a home is a beautiful thing.

Why? Well you can use it to fund those things in life that you just have to do. If you want to improve your home, you can use the equity to do it. Most people seem to want three types of improvements – a new kitchen, new bathrooms or a new bedroom or two. All of these can be paid for using your home equity. The real beauty of taking this step is the improvements also add to the value of your home.

How Can You Access Your Equity

So, how do you access the equity in a home? There are a number of ways, but many people choose to use a home equity line of credit. That is a mouthful, so most refer to it as a “HELOC”. As the name suggests, it is a line of credit based on the value in your home. Using our example above, a lender would verify you have $100,000 in equity and give you a credit line for a percentage of the equity.

The percentage of equity that can be used depends on the lender. It tends to be capped at 80 percent of the total value of your home. In the example above, the credit line would be for $60,000 since 80 percent of $200,000 is this amount. That being said, lenders have all types of programs.

You can expect to pay a bit more in interest on your credit line. The loan is a second on your home, meaning that it is more risky than the original loan. With risk comes increased borrowing costs, in this case a higher interest rate. You should expect rates to be a point or two higher than what first mortgages are going for.

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Sergio Haros is with Great Western Mortgage - providing California second home mortgage loan solutions.

Article Source: http://EzineArticles.com/?expert=Sergio_Haros
http://EzineArticles.com/?Using-The-Equity-in-Your-Home&id=462351

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Return from Using Your Home Equity

To Line Of Credit

Or Go To The Real Estate Investment Financing Page

Or Return To Freedom Steps With Property Investing

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Never Pay it Back - Free Debt Relief Grant Money

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By Sarah Beckham

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Getting out of debt is a serious concern among American citizens today. Free government debt grants are the perfect solution to the current American financing problems, because they are not loans, nor are they a consolidation program. The purpose for government grant program availability is to get you out of debt, not deeper into it.

Personal debt relief grants are actually free government money that you will never have to pay back.

This is true. The government gives away over eighty seven billion dollars to qualified applicants who apply for personal debt relief grants each and every year. There is a great need for free grant money among the American population today, because nearly everyone has suffered some type of astronomical financial setbacks as of late. As a result, more and more American taxpayers are applying for, and receiving this generous financial assistance.

What can be accomplished by obtaining free debt relief grants from the United States government?

There is very little that you cannot do to repair your financial situation if you are found eligible to receive personal debt relief grant funding. Many American taxpaying citizens have recently found that by applying for this financial aid they were able to acquire enough free government money to completely turn their circumstances around in a very positive way. Many have...

• Received personal debt grants to pay off past due utilities to avoid disconnections.


• *Used free government money to pay past due automobile payments to escape vehicle repossession.


• *Obtained thousands of dollars to pay back rent and have avoided eviction.


• *Some have received tens of thousands to pay defaulted mortgages and back taxes and have saved their homes from foreclosure as a result.


• *Personal debt relief grants can even be issued to pay off your past due credit card balances.

The top three best benefits of obtaining personal debt relief grants...

1. You can actually escape the dreaded last resort of bankruptcy.
   
2. Since you have used free government money to pay off all of your creditors, your credit rating will instantly improve...dramatically
   
3. Last but definitely not least...you will never have to pay this money back...ever.
   

Shouldn't you follow the links below to find out if you are on of the millions of Americans who can be approved for thousands of dollars in free government money by applying for personal debt relief grants?

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Get Grants for Individuals and see how much money you qualify to receive today and never pay back.

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->> Claim your Apply for Personal Grants...

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Article Source: http://EzineArticles.com/?expert=Sarah_Beckham
http://EzineArticles.com/?Never-Pay-it-Back---Free-Debt-Relief-Grant-Money&id=2364575

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Is it Hard to Qualify For a Home Loan These Days?

Image by Getty Images via Daylife

By Jesse Saenz

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The fact that the US has 3.9 million homes for sale and most of them coming from foreclosures means that newer, more efficient Home Loans must be offered. The truth is, getting a home loan is easier now than before the Real Estate boom, you just need to look in the right place. In the following article I will tell you where to look for the lowest interest rates, and well as what the banks will be looking for when qualifying you.

Specifically ask for Government Loans such as FHA or VA

In order to resolve some mysticism, and shed light on this shady subject I inform my clients that they should specifically ask for Government Loans such as FHA or VA (Federal Housing Administration, Veterans Administration.) I say this because the government has poured money into these departments and are eager to create revenue by lending it out in Home Loans.

For instance, FHA offers First Time Home Buyer Programs, Loans that allow 3 or more borrowers, Little or No Money Down Programs, and offer the lowest Interest Rates in the country backed by the Federal Government. FHA is a great place to look for Financing as they are rewriting the book on Stable and Sustainable financing of Homes now and for the future. You will stay ahead of the curve by empowering yourself with knowledge of specific programs, and the constant changes that are made on Government Loans. So now that you know where to look, what will determine whether you qualify or not?

The first place to start is getting with a quality professional Loan Officer, and or Realtor that specializes in Government Loans. What they will tell you is that the banks are looking for Credit, Capacity to pay back, and Collateral such 401k, or cash on hand. I suggest using a local Loan Officer to help you establish your credit scores, procure paperwork, and calculate payments. Since most Loan officers work on commission only, they are free of charge to start, and are usually very savvy and eager professionals. (For a list of Loan Officers I work with and recommend, please contact me) These 3 C's of Financing are the most widely and acceptable terms to Finance Professionals and speaking the same language of professionals is the best way to make sure you gather all the proper facts.

So now that you know where, and what to look for, get out there and see what is for sale. I bet you will be amazed by the price, and it may even be cheaper than the rent you currently paying. Make sure you consult a professional, speak the same language, and ask for Government backed Loans.

* If you have been a victim of Loan Fraud and or Foreclosure please contact me, as I am able to modify your loan, or register you to fix your credit in a credit rehab program. In most cases you only have to wait 1 year after a Bankrupt or Foreclosure to purchase.

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For more information about Jesse Saenz and Connect Realty email jesse.saenz@comcast.net or
http://www.connectrealty.com/jessesaenz

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Article Source: http://EzineArticles.com/?expert=Jesse_Saenz
http://EzineArticles.com/?Is-it-Hard-to-Qualify-For-a-Home-Loan-These-Days?&id=2091195

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