Want Cash Out Of Your Home, But Credit Not So Good?... Here's A Way.

Hello,

Were you wanting to get cash out of your home... but, your credit isn't that good?

Believe it or not - this is often times a loan we can make.

The reason is if you have in excess of a 20% equity position in your property - the mortgage insurance companies credit cut offs don't come into play. ...because there's no mortgage insurance on these loans.

Now, many banks still have their own credit score cut offs (independent of the mortgage insurance companies) - usually 620.

...but, not us. If your credit score is 550, and we can get an automated approval on a cash out loan for you - we can do that loan!

I hope you have a good day today. Thanks for reading!


Brett

Hello,


If you want to buy some land - or if you have been considering buying land... I can help.

We do land loans! I want to give you a few brief guidelines to go by - so you will know what would qualify for a land loan.

Here are the guidelines...

· Land must be located in a rural area, or if in a city - population must be less than 2,500.



· Minimum loan amount is $55,000.



· No cash out on refinance loans.



· Must be purchase with the intent to build a home (new primary residence) on it.



· No seasoning required on down payment funds.



· Property must have public road access.



· Property needs to have access to electricity.



· Need a minimum credit score of 620.



· Requires 25% down.



· Maximum loan amount is $300,000.

That's it. So, if you want to buy some land - let me know, and I'll be happy to get you pre qualified.


I hope you have a good day today. Thanks for reading!


Brett

What To Do When The Seller Refuses To Do Repairs On A Purchase...

Hello,

If you are buying a house that needs minor repairs - but the seller refuses to do them - what do you do?

This situation happens a lot, especially on bank owned homes.

The simple answer is to use an escrow hold back. ...an escrow hold back is a small amount of money that is held out of the seller's proceeds from the sale to make the repairs.

You have to write the escrow hold back right into the contract - under special provisions. To avoid having to rewrite this clause - be specific. Your realtor will need to write - "An escrow hold back in the amount of $______ will be used for (specific) repairs."

One key with the escrow hold back is the repairs need to be minor - and they can't take that long to finish. ...an average amount of an escrow hold back is $1,500 to $3,000.

Knowing how to solve minor repair problems on an offer - can sometimes make the difference between getting a great deal on a house, or not buying it at all.

If this situation comes up with your deal - just give me a call - I can help you out.

Have a good day today! ...and thanks for reading.


Brett