How to get mortgage loans on bad credit

June 22, 2013  //  Posted by: Property Owner  //  Category: Home Financing

mortgage loans, loansYour credit report has a major role to play while you apply for your mortgage loans. A mortgage is hard to get if you have a bad credit record but still there are ways how you can better your chances to stay eligible for home loan even with a poor record. Here are the tips.

First of all you must find a lender who specializes in home loans on bad credit. However, you would need to show him that you have a steady income flow that will enable you to perform the repayments timely. It’s better if you can explain the reasons behind your bad credit record such as severe illness or some personal setback.

Then, it’s also advised to maintain a clean record further, relieved of any debt condition. Be prepared to pay higher interest rates here. Take the help of a co-signer with good income stability & steady credit record so that your lender can be assured of a timely repayment even if you fail to pay him on time.

Things to look while investing in an old property

June 09, 2013  //  Posted by: Property Owner  //  Category: Property assessment

investing in old propertyIf you are thinking to invest in a used or an old property, then there are things that you should take care off. By looking into these points you can easily decide on whether the deal will be a profitable one or not. So before signing into the deal make sure that you look into the following points.

  • At first the condition of the property that you are investing must be checked. If the condition of the property is not good that would mean you might need to repair it. Thus the expenditure of repairing will increase your cost of the property.
  • The market value of the property must be checked before making the deal. It will give you a fair idea about the cost of the property.
  • The market pattern of the area must be read thoroughly so that you get a good idea on whether it is a good time to invest your money in.

By keeping a check on these points you can make sure that you will have a good bargain in your deal.