The purpose of a bridging or bridge loan is to provide short term cash for a real estate transaction until permanent financing is secured. Bridge loans are commonly used to “bridge the cash gap” when completing commercial real estate transactions.There is a process to go through before a bridge loan is approved. If you’ve already developed a relationship with an institution, … [Read more...]
Tips on Getting Your Mortgage Loan Approved
We all very well know that not every applicant is approved for a home loan the first time he or she applies.It can be due to variety of reasons, even after a lot of hard work, sometimes a loan just can’t be approved. It may have to do with the applicant’s credit or savings history, employment stability, debt structure, or the value of the home. Purchasing a home takes … [Read more...]
10 Effective Ways to Avoid Loan Fraud
There is always a chance for , misinformed homebuyers, often first-time purchasers or seniors, become victims of predatory lending or loan fraud. Below you'll find the top ten ways to avoid becoming a victim yourself. 1.Take your time and shop around. You should be able to compare prices and houses. If a lender or broker tells you they are your only chance to get a loan or … [Read more...]