The Real Estate Solution LLC - Real Estate Financing

Real Estate Financing

There are many excellent reasons for talking with a banker. Unfortunately, bankers are not always able to give you what you need. This is where a mortgage broker can help. A mortgage broker has access to more than a hundred lenders and this benefits you in many ways. We work with one of the best in the Richmond area.

Why Refinance?

Buying a vacation home
ARM About to Adjust
Consolidating Debt
Cashing out Equity
Opening or Expanding a Business
Buying Investment Property

Buying Your First Home

Buying your first home can be an intimidating process. If you are working with a Real Estate Agent, they can do a lot to help guide you through the maze of paper work, regulations and expenses. Many are quite knowledgable in the area of real estate financing. Some have access to in-house lenders. Generally, these are good choices if your credit is good and you have no unusual needs.

However, if you have limited down payment funds or some blemishes on your credit report, we can put you in touch with a wider variety of lenders that increases the potential for a match that will best meet your needs.

An added benefit to dealing with a broker is that he shops for the best deal for you. Should you do this yourself and each lender pulls a credit report, you will see your score drop several points with each inquiry. One of the things they don't always tell you is that frequent credit inquiries have a negative impact on your credit score. Your report is only pulled once to work with multiple lenders.

For more information about buying your first home, check out our FREE Report.

ARM About to Adjust

A few years ago, many home buyers got really good interest rates with Adjustable Rage Mortgages. Unfortunately, time passes and the initial low rate period comes to an end. The low rate / low payment is bumped up... sometimes significantly.

Many are now finding (or will soon find) the increased mortgage payment putting a major crimp in their budgets. The solution: refinance. If you plan to sell your home in the next few years, perhaps another ARM would be the best choice. Otherwise one of the fixed interest programs may be best for your circumstances.

There are many options... for some, more than at the time of the original purchase as they have now acquired a mortgage payment history.

For more information on the types of loans available check our FREE Report, Is a Pick-A-Payment Loan Right for You?

Buying a Vacation Home

Buying a vacation home can be pretty much like buying your first home. You can come up with a cash down payment and finance the rest as would be standard for any home purchase.

However, if you have acquired significant equity in your current home, it is possible to use this asset to supply not just the down payment, but a substantial portion of the purchase price of your vacation villa.

Add to this, the fact that out of state properties are not a problem, that vacation getaway may be much closer than you think.

Buying Investment Property

Many have found that investing in real estate is the key to financial security. Many others have looked at real estate investing as something only available to those with already fat bank accounts. Not true!

While most banks require larger down payments for investments than they do on owner occupied homes, a broker can do things, through a variety of lenders, that banks are unwilling or unable to do.

The interest rate my be slightly higher, but our lenders are not adverse to working with investors in the same way they work with other home buyers.

Consolidating Debt

Refinancing to consolidate various forms of debt can be helpful in reducing monthly payments by rolling many monthly payments into one that is significantly lower than the combined total.

It is a good way to get a fresh start when your finances have taken a beating by medical expenses, unexpected home repairs and the like. It can also get you out from under credit card and other consumer debt. However, if used in this way, it requires the self discipline to avoid falling back into the same situation. Once credit cards paid off, many companies are more than eager to give you credit to begin the cycle over again.

The other note of caution is that you are converting unsecured debt to secured debt. What this means is that the credit card company can call you, harass you and, in general, make you miserable. The mortgage company can take your house if they are not paid.

That said, many people have found debt consolidation to be the answer to their financial situation and have benefitted greatly from paying off many small debts and rolling them into one with a lower payment with tax deductible interest.

Cashing Out Equity

If you've owned you home more than a few years, it is probably worth much more than you paid for it. You have a significant resource tied up in your bricks and mortar.

This resource may be just the answer to paying for a college education, vacation home, medical expenses... maybe even a dream vacation. Cashing out the equity you have in your home may make what seems impossible, possible.

If you've dreamed of starting a business... or doing anything out of the ordinary that takes money, this may be your opportunity.

Is a Pick-A-Payment Loan Right for You?

We don't try to give you a one size fits all solution... that's why there are no 'instant quotes' on this site. There are so many factors involved, we could not begin to do justice to your request. These factors include the value of the property, down payment, the property itself, your credit score and the intended use of the property.

Like others, our broker can place loans with payments based on rates below two percent, interest only, adjustable rates, fixed rates, with and without prepayment penalties, construction loans and a variety of other terms. Talk to us... tell us what you want to accomplish.

Because we want to do business with you, and one way to keep this from happening is to give you a low ball quote that we cannot deliver. We believe it is better to take your information, evaluate it, and get back to you with an offer that we can deliver.

Call us, tell us what you want to do, and we'll do our best to find a way to make it happen. The phone number is 804-338-0463.

The Real Estate Solution LLC
9211 Barefoot Trail
Chesterfield VA 23832
804-338-0463