Chapter 9
Securing the Best Mortgage Terms
IN THIS CHAPTER
Understanding the best ways to shop for mortgages
Solving common borrowing problems
In Chapter 8, we discuss how to choose among the many loan options available so that you can select the one that best suits your personal and financial situation. In the process of delving into the different types of real estate investment financing, you may have already begun the process of speaking with different lenders and surfing websites.
In this chapter, we provide our top tips and advice for shopping for and ultimately securing the best financing that you can for your real estate investment purchases and refinances. We also cover common loan problems that may derail your plans.
Shopping for Mortgages
Financing costs of your real estate investment purchases are generally the single biggest expense by far, so it pays to shop around and know how to unearth the best deals. You may have thought you were buying an income property, but you are really buying a loan in order to buy an income property. You may find that many lenders would love to have your business, especially if you have a strong credit rating. Although having numerous lenders competing for your business can save you money, it can also make mortgage shopping and selection ...
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