Norada Real Estate Investments is pleased to offer our new Stated-Income Mortgage Loans, available on many of our investment properties. These loans are available on 1-4 units properties with just a minimum mid FICO score of 650. You can get up to 70% loan-to-value (LTV) with absolutely no personal income verification.
If you are someone who has given up on the dream of real estate investment, before even giving it a serious look, consider a few trends.
Construction is on the rise, foreclosures and repossessions are decreasing. The U.S. Census Bureau recently reported that new residential sales in May 2014 have increased an estimated 16.9 percent compared to the same period last year.
Far from least, US median property sales are up over 11% annually, the biggest increase since 2012.
It’s clear, conditions are optimal. Given today’s economy, with low property prices, decreased interest rates and a high demand for housing, there has never been a better time to profit from owning rental property.
In my opinion, the next five years will be the best ever for those who choose to make their fortunes in real estate. If you already own good investment property, hold onto it dearly. Don’t be tempted to sell. If you’re on the fence, there are five things I want to share with you:
Once you have a property under contract and you’ve performed an inspection, it’s time for your loan officer to secure a purchase appraisal.
Be aware that an appraisal will almost always render a lower value than you determined in your comparative market analysis, for a number of reasons. Appraisals do not give an accurate market value – they simply give you a reflection of what you’re trying to accomplish with the bank. There are actually different types of appraisals, and each one serves a different purpose.
Before I break down the risks of investing, one of the most important things you need to look at is; what is the risk of not investing?
Whether in businesses, real estate, stocks or mutual funds – what's the risk of not investing your cash?
What is the risk of just putting it under the mattress and saving your money, or putting it into a bank account that makes a tiny interest rate every month – what are those risks?
This article is Part 3 of a four-part series on Land Trusts. You can find Part 1 here: Understanding Land Trusts
Now you may be asking — how is the land trust going to help me with my lender?
The answer lies in why the land trust was created, and why it’s perfectly legal. It’s basically a compromise between two opposing forces. On one side is the bank which is interested in generating income from loans and at the same time protecting itself through a security interest in real property — on the other side is the borrower (real property owner) who desires to transfer title to his property without fear of foreclosure or forced refinancing. The bank acts as the protagonist by incorporating a “due-on-sale clause” into most, if not all, mortgages its writes.