Update Your Sales to Keep Comps Current Are you entering all your sales into MLS in a timely manner? If not, PLEASE make sure you do so going forward – and here’s why: Appraisers pull data from a variety of sources when researching comparable sales for their reports, and the availability of sales… Continue Reading MLS Sales Data and Appraisals
For buyers, this means a flood of newly renovated properties available for purchase. For the neighbors who are enduring the impact of overgrown and neglected homes in their area, they can look upon the investors as a property rescue squad of sorts. The collateral advantages are also passed along to other sellers. Improved properties impact the value of their comps and therefore beefs up their appraisal (and curb!) appeal.
A mortgage loan requires substantiation of so many seemingly random bits of proof; but they are ultimately synchronized to meet an objective. Having the data that keeps the flow of detailed communication is not intended to put a buyer through the wringer – it is so they come out on the other side of a deal with the loan product that suits their means.
OK…today we’ve got some down and dirty details about legal residents and their home buying/mortgage eligibility. Basically, it is pretty straightforward. First of all, there are two types of legal residency in the United States: permanent and non-permanent. As long as an individual is working here legally they have the same FHA-type loan opportunities as… Continue Reading Home Mortgages and Non–US Citizens
All pretty standard stuff; no real surprises here, but there are some extra hurdles these investors will have to clear when it comes to mortgaging properties 5-10 in regard to credit score and cash reserves.
Once a borrower exceeds the four financed property count, the general guidelines are as follows: