A Layman’s Guide To Mortgages by the private mortgage lenders of San Antonio
Whether you’re looking to buy a property or renovate one, you’ve probably heard about mortgages – especially how they can increase your buying power. However, as someone who’s about to spend their entire life savings, you might be a bit skeptical about the idea. Don’t worry; if managed properly, mortgages are quite safe. Nevertheless, you shouldn’t invest in something you don’t know about. So, let’s educate ourselves with this simple guide from the most prominent private mortgage lenders in San Antonio. • Mortgages are long-term asset-based bridge loans used for real estate ventures. The typical loaning term for mortgages ranges from 20 to 30 years. • Mortgages are heavily regulated by the government and subject to the rules laid out by the Dodd-Frank Act. This is true regardless of whether you get a loan from banks or private mortgage lenders in San Antonio. • Mortgages are mostly used to either purchase or renovate primary residences. However, they’re also used, in a lesser capacity, for investment purposes. • Mortgages do require an initial down payment, which can range from 5 to 20 percent of the property value. As for the interest rate of mortgages, they can vary anywhere from 4 to 20 percent of the loan. • Lastly, the approval, down payment, interest rate, and loaning period are decided based on the borrower’s credit score. Although mortgages are among the most conventional forms of real estate loans, they may not be the best choice. This is because nowadays many real estate loans are designed for specific consumer needs. For a detailed assessment of what kind of loan is best suited for your venture, call (210) 787 3805.
Whether you’re looking to buy a property or renovate one, you’ve probably heard about mortgages – especially how they can increase your buying power. However, as someone who’s about to spend their entire life savings, you might be a bit skeptical about the idea. Don’t worry; if managed properly, mortgages are quite safe.
Nevertheless, you shouldn’t invest in something you don’t know about. So, let’s educate ourselves with this simple guide from the most prominent private mortgage lenders in San Antonio.
• Mortgages are long-term asset-based bridge loans used for real estate ventures. The typical loaning term for mortgages ranges from 20 to 30 years.
• Mortgages are heavily regulated by the government and subject to the rules laid out by the Dodd-Frank Act. This is true regardless of whether you get a loan from banks or private mortgage lenders in San Antonio.
• Mortgages are mostly used to either purchase or renovate primary residences. However, they’re also used, in a lesser capacity, for investment purposes.
• Mortgages do require an initial down payment, which can range from 5 to 20 percent of the property value. As for the interest rate of mortgages, they can vary anywhere from 4 to 20 percent of the loan.
• Lastly, the approval, down payment, interest rate, and loaning period are decided based on the borrower’s credit score.
Although mortgages are among the most conventional forms of real estate loans, they may not be the best choice. This is because nowadays many real estate loans are designed for specific consumer needs. For a detailed assessment of what kind of loan is best suited for your venture, call (210) 787 3805.
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A LAYMAN’S GUIDE
TO MORTGAGES
B Y T H E P R I V A T E M O R T G A G E L E N D E R S O F S A N A N T O N I O
Whether you’re looking to buy a property or renovate one,
you’ve probably heard about mortgages – especially how they
can increase your buying power. However, as someone who’s
about to spend their entire life savings, you might be a bit
skeptical about the idea. Don’t worry; if managed properly,
mortgages are quite safe.
Nevertheless, you shouldn’t invest in something you don’t know
about. So, let’s educate ourselves with this simple guide from
the most prominent private mortgage lenders in San Antonio.
GUIDE BY PRIVATE
MORTGAGE
LENDERS IN SAN
ANTONIO;
• Mortgages are long-term asset-based bridge loans used for real estate
ventures. The typical loaning term for mortgages ranges from 20 to 30 years.
• Mortgages are heavily regulated by the government and subject to the rules
laid out by the Dodd-Frank Act. This is true regardless of whether you get a
loan from banks or private mortgage lenders in San Antonio.
• Mortgages are mostly used to either purchase or renovate primary residences.
However, they’re also used, in a lesser capacity, for investment purposes.
• Mortgages do require an initial down payment, which can range from 5 to 20
percent of the property value. As for the interest rate of mortgages, they can
vary anywhere from 4 to 20 percent of the loan.
• Lastly, the approval, down payment, interest rate, and loaning period are
decided based on the borrower’s credit score.
Although mortgages are among the most
conventional forms of real estate loans, they may not
be the best choice. This is because nowadays many
real estate loans are designed for specific consumer
needs. For a detailed assessment of what kind of loan
is best suited for your venture, call (210) 787 3805.
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