5 Questions You Should Ask your Hard Money Lender
Taking out a hard money loan can be one of the best ways to grow your real estate investment portfolio. Hard money loans fund fast, have simple guidelines, and focus on the collateral. But now to lenders are created equal. Before you apply for a hard money loan, here are some questions to ask your […]
What do Hard Money Lenders Look for in Applicants?
If you’re thinking about applying for a hard money loan to expand your real estate portfolio, you probably wonder what hard moneylenders look for in applicants. The requirements aren’t a lot different from any other loan program, but they can be more flexible. Since hard money lenders focus on the collateral rather than the borrower, […]
4 Ways to Lower your Interest Rate on Rehab Loans
If you’re borrowing money to buy and fix up a home, you’re going to pay higher rates than you would if you bought a home ready to move into. Does this mean you have to pay excessive rates? It doesn’t. At Save Financial, we want our borrowers to understand how to get the best interest […]
The Pros and Cons of Bank Statement Loans
Bank statement loans give borrowers with non-traditional income a chance to get approved for a mortgage. This isn’t your traditional loan from a Fannie Mae or Freddie Mac lender. It’s a loan from a private bank that will use your bank statements in place of traditional income documentation, including pay stubs and tax returns. There […]
What Happens to Housing Prices When Interest Rates Increase?
Over the past two years, home prices have been on the rise. Buyers have been paying prices higher than the home’s value just to beat out the competition. This has caused prices to skyrocket. But now there’s a compounding issue – interest rates are rising too. So, what’s happening to housing prices, and will buyers […]
5 Reasons Hard Money Loans are Better
When you hear hard money loan, you likely cringe. That’s because certain ‘bad lenders’ made a bad reputation for hard money loans when in reality there are many reasons to like them and consider using them. If you don’t understand how hard money loans can be good, keep reading to learn the top 5 reasons […]
Bank Statement Loans FAQ
You’ve likely heard of bank statement loans and wonder how they work. What would a lender accept for a bank statement loan? Can you really get approved without using your tax returns? We’ve answered the most commonly asked questions about these loans below to help you understand. Who Should Use a Bank Statement Loan? Bank […]
Income Inconsistencies that Might Require No Income Loans
It’s no secret that traditional lenders want you to have consistent income. For them, consistent means they can prove it with your tax returns. If you have income that fluctuates too much over the last couple of years or you don’t report enough income to qualify for a loan, you might not get the financing […]
Why Bank Statement Loans are Great for Side Hustlers
If you are like millions of others today and you run a side hustle, you might need/want to use the money to qualify for a mortgage. Unless it’s something you’ve done long-term though and can prove with your tax returns, traditional financing isn’t an option. Because most side hustlers take advantage of the tax breaks […]
How your Home Equity can Help you Become a Real Estate Investor
If you’ve always wanted to be a real estate investor but figured you don’t have enough cash, look at your home! If you have equity in your home, you can use it to invest in real estate. Lenders don’t tell you what you can or can’t do with your equity once you have it and […]