Real Estate Information

Luxury Real Estate Information

Rancho Palos Verdes, California Homes
Palos Verdes, California Homes
South Bay, California Homes
Luxury Mexican Beachfront Homes

Featured Properties

Oceanfront Estate Near Trump National

Related Information

Loan Information
Real Estate Information
Mortgage Refinance Information

How to Choose Your Real Estate Lender

Because you need quick action when applying for a real estate purchase loan, find a lender you can access easily. A lender's quick response signifies good service to follow.

Once you know your middle credit score, look for a lender appropriate to your specific needs. When ready to make offers to purchase, apply for credit with lenders. Choose at least three lenders to apply with and do it at the same time. Call all your prospective lenders during the same week. This counts as only one inquiry on your credit report. Credit bureaus expect borrowers to shop for a loan.

The best way to find a good lender is to ask a real estate investor for a referral. Also, escrow officers and real estate agents know lenders who close loans efficiently in a timely manner. Avoid advice from agents or others who receive a kick-back commission for referring you, because you may pay for this referral with added charges to your loan.

Lender's Checklist

Ask potential lenders about the following requirements and costs according to a price range you think matches your needs. This also helps determine what you need to look for in a property.

1. Qualifications:
Middle credit score

2. Loan costs:
Processing fees
Additional "garbage" fees (underwriting fees, loan documentation preparation fee, filing fees, credit report)
Hidden costs
Prepayment penalty
Interest Rate
PMI (mortgage insurance)

Are loan costs added to loan or prepaid?
Is the seller allowed to pay a percentage of nonrecurring closing costs for the borrower?
What is the maximum allowable seller contribution?

3. Requirements:
Percentage of purchase price required down? Or loan to value ratio?
What about the condition of the property? Do they finance "fixers"?

A Better Way to Find Your Lender

After you work through all the details of the lender's checklist, you understand better the available possibilities. Now, from a different point of view, work backwards. Instead of asking the lenders what they offer you, tell them what you want and find the lender who best matches your terms. Create your own wish list of your personalized loan needs.

Personalized Borrowers Lender Checklist

Is this purchase an owner-occupied or an investment property?
What percentage do you want to put down?
If you want to sell right away, can you avoid prepayment penalties?
Do you need the loan to finance a fixer? How much of a fixer do you want to tackle?
How flexible are the lender's appraisers? Do you need a cooperative appraiser?
Do you care about "garbage fees" and need costs to be added to the loan?
Do you want to pay PMI, or a first and a second, or neither?
Do you want the seller to contribute to your closing costs?
How much do you want the seller to contribute?
How many points do you agree to pay up front or add to the loan?
Are super low payments available?

Make your own checklist according to your abilities and find the lender who comes closest to your needs. Remember, a good mortgage broker wants your business and works hard to find the right loan out of thousands to best suit your requirements. However, asking a lender for impossible demands wastes your time and theirs.

Notice the difference in real estate loan requirements, loan costs, and lender's attitudes. Figure out your qualifications, your loan needs, and find a matching lender with first-class service.

(c) Copyright 2004, Jeanette J. Fisher. All rights reserved.

Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Joy to the Home, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, newsletters, and sales flyer template, see

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at

Seeking Alpha

Real Estate Outperforms Amid Broader Selloff
Seeking Alpha
Amid rising trade and political tensions, US equities dipped nearly 6% this week, the worst weekly performance in two years. REITs fell 5% while homebuilders declined 3%. A flurry of headlines reignited volatility this week including a Fed rate hike ...

Hot Property: Real estate reboot
Los Angeles Times
Not every housing ambition works out as planned. This week's collection includes an Oscar winner who has relisted his Hollywood Hills West compound as two separate properties and a writer-actor who decided against building his dream house in Malibu ...

Naples Daily News

Real estate briefs
Naples Daily News
The show has guests who specialize in relevant topics in the real estate industry. All Shows can also been seen on the website under icon online education. Two model homes at Naples Reserve were honored with 2018 Parade of ...

and more »

Las Cruces Sun-News

Selling or leasing real estate without a license is a felony
Las Cruces Sun-News
If you're thinking of helping a friend, neighbor or relative buy, sell or rent a home, apartment or commercial property, you'd better think again. Conducting such activities without the benefit of a real estate license is against the law. In 2008, the ...


How To Win A Real Estate Bidding War: Advice From The Pros
Listen to Paul, Habibi, Continuing Lecturer of Finance and Real Estate at UCLA Anderson School of Management. Have a plan in place where you know you what your number is before you even make your offer. Buying a personal residence that others want ...

Real Estate Newsmakers
JoAnn Drabble, broker associate of Re/Max Welcome Home, qualified for the Re/Max Chairman's Club Award for 2017 and ranked No. 9 of the Top 25 Individuals for all of Re/Max New England for 2017. Drabble was awarded the prestigious Lifetime Achievement ...

and more »

Real Estate Transfers
The Keene Sentinel
Here is a list of 34 transfers recorded in Cheshire, Hillsborough and Sullivan counties during the period ending March 9, 2018. Listed below is the date of the deed and the purchase price, based on real estate transfer tax paid. This list does not ...

Real estate leaders gear up for radical meeting in the desert
On Monday a set of curious, smart and influential real estate people from around the country will ditch their office for the desert and the chance to make history at Disconnect in Palm Springs. Together almost 200 attendees reflect the diverse and ...


Real Estate Pros Share Their Favorite Resource For Market Trends
This is especially important for real estate professionals, who must contend with rapidly changing price points, demographics and client preferences. Sharing the latest, most up-to-date listings and statistics with your clients will inspire trust and ...

Torrington Register Citizen

Real estate notes, March 24, 2018
Torrington Register Citizen
CANAAN — Broker associate Wendy Eichman has purchased the real estate operation formerly known as The Raynard & Peirce Real Estate Company. The new entity is Raynard & Peirce Realty LLC. Eichman transitions from Broker Associate to being Broker for ...

Google News

home | site map