Starting a new business on a small scale, buying an apartment for you, or purchasing a car for you may be easier with a mortgage loan. These kinds of loans can help you expand your small business. Traditionally, banks were the only option to get such mortgages. However, lots of other alternatives have emerged over time. These alternatives, sometimes, may prove even better than the other options. However, make sure to double-check and work with trusted lenders. Sometimes, lenders may be involved in any kind of fraud that can put…
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Sovereign Home Loans Provide Better Home Loan Rates in NZ
Almost every Bank out there has a standard when it comes to having an interest rate and a special interest rate. But the thing that you need to keep in your mind is that the special home loan rates are only for those people who have more than 20% equity. If you have less than 20% it then standard interest rates will be applying for you but if you have more than 20% then a special interest rate will be applying for you. If a standard interest rate is applying…
Read MoreDiscover The Most Common Construction Defects You Need To Be Aware Of
If you’re looking to buy a property then you’ll want to know that it’s worth the money you’re spending. Your mortgage company will verify the value of the property but they are unlikely to check for structural issues. If you don’t then you may find yourself in a house that is unsafe to live in but you can’t afford the repairs, all while paying the mortgage. That’s why you need to employ a reputable construction consultant and be aware of the most common construction defects. It will ensure you are…
Read MoreCan personal property be included in the Purchase Agreement?
Underwriters are always blamed for being picky but when they see personal property listed on the first page of a Purchase Agreement, they get super crabby. The underwriter will claim that that the loan will not be insured if there is personal property included in the sale. Here is an example: The agreed upon Purchase Price of a home is $200,000. In that $200,000 agreement, the Seller has included an outdoor play set in the backyard. The Play set is not considered “real property” but is considered “chattel” which is…
Read More12 First Time Homebuyer Mistakes to Avoid
As the housing market and economy continue to strengthen, many folks feel they are back on their feet and are looking to buy their first home. The price for renting a home continues to increase as well, adding urgency to many young adults. Understanding the Home Buying Process Buying your first home is an intimidating process. Not only is this uncharted territory, this is usually the largest financial purchase you will make in your lifetime. Plus, there are a lot of moving parts including finding a home, making the offer,…
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