Port Angeles Real Estate Tips & Tricks!...
If you have excellent credit you will have the least amount of hurdles to jump through. When mortgage companies in Port Angeles Washington are evaluating your credit generally talking about your FICO score. This is a compilation of the three major credit bureaus and is the standard for determining credit worthiness in the industry.
An individual should aim for a FICO score above 710 because it allows individuals to obtain the best loans and have more bargaining leverage.
There are now many different loan solutions available to the investor in Port Angeles Washington. There are even some loans that will cover the total purchase price however, with the current credit situation they are far and few between.
If your credit is not excellent there are still options available. The homeowner Carrying a second mortgage on the property is also an option on some homes and investment properties in Port Angeles Washington.
For example let's say you agree on a price that you and the seller are content with. You get 80% through a bank or lender and the owner agree to finance to other 20% for you as a term of the contract.
It is easier to get a loan for 80% of the purchase price. This is especially true if you have negotiated a price below market value. Perhaps you agreed upon a final price of $100,000 while the real market value is actually $120,000.
Using this example the lender that loans the money just took far less of a risk in making their decision. This is not as risky.
There is a lot of free information available to you about buying, selling or investing in Port Angeles real estate. For complete information about the Port Angeles real estate market including, homes for sale, Land for Sale, buyers and sellers info, home values, relocating information ...Please visit my website www.PortAngeleRealEstateServices.com There you'll find everything you need to know about Port Angeles Washington Real Estate
Feel free to contact me (Steve Edwards) at anytime. I'll be happy to answer / address any questions or concerns you may have. Call me anytime ... I can be Toll Free: (866) 359-9099 or mailto:steveedwards@olypen.com
Thank you for your time!
Steve Edwards - Realtor
Windermere Real Estate
Port Angeles, WA
Real Estate Expert / Agent
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