These days, it can sometimes be difficult for individuals in Davie to secure a mortgage from a conventional lender, such as a bank or credit union. This is not always due to a poor credit score or other personal failings. For example, sometimes someone who is retired or is self-employed may have good credit and earn a sufficient income, but will still experience difficulties in securing a mortgage loan from a conventional lender. Therefore, some of them are turning to private lenders who will provide them with the financing they need to purchase a home.
Residents of South Florida are starting to clean up from Hurricane Irma, which recently roared through the area. Those who were looking to buy or sell a home before the hurricane may wonder how South Florida's real estate market fared after the storm. They may be pleased to hear, then, that according to industry observers, while closings and home deliveries may experience a delay, it should not affect the market too much.
Davie residents seeking to buy a home often have to take out a mortgage loan in order to purchase it. However, they may be surprised to find that these days there are a myriad of different types of mortgages to consider. Today, we are going to explore some of the types of mortgages that may be sought by those wishing to purchase a home.
Whether you are buying your first home or selling one that you lived in happily for many years, any residential real estate transaction can be very emotional and personal in nature. Therefore, Davie residents may be surprised to hear that real estate transactions are generally "arm's length" transactions, so that they can be fair to both parties involved in the sale, and also so that they can be legitimate.