There are many real estate investors who are utilizing traditional lender programs. With interest rates continuing to slide this has become an increasingly viable option. As popular as lender programs are not every borrower can get approved. There are still strict guidelines in place and a mountain of documentation that has to be provided. With a strong credit score, significant down payment and low debt to income the process can seem as easy as it has ever been. However, if there is even the slightest blemish you need to have everything in place well before you consider making an offer. The more organized you are with your loan items the easier the process becomes. If you are considering applying for a traditional mortgage here are five actions you need to take.
There are many advantages of using lender financing. The key is to find the right program for your credit profile. After your offer is accepted is typically too late to change gears. Get everything in line before you start your property search.