If your credit rating is excellent you will find it easier. When financial institutions and other companies that make mortgages in [Profile.market2] are evaluating your credit generally talking about your FICO score. This is a compilation of the three major credit bureaus and is the standard for determining credit worthiness in the industry.

You will have access to the best loans and more negotiating room with a FICO score above 710,when looking at your credit score.

There are now many different loan solutions available to the investor in [Profile.market2]. It is still possible but not probable that you could fine financing for 100% of the cost to purchase the piece of investment property.

There are still options available,if your credit is not excellent. A second option is to work with the seller and have him or her carry an additional mortgage on the property in which you are working with in the Columbia South Carolina real estate market.

In this case let’s say you negotiate a price both you and the seller are happy with. Your loan will take care of eighty percent of the purchase price, and the seller accepts payments for the remaining twenty percent.

It is easier to get a loan for 80% of the purchase price. If you have negotiated a price below market value,this is especially true. Perhaps you agreed upon a final price of $100,000, compared to an actual market value of about $127,000.

In this scenario the money coming from the lender is easier to get. This is not as risky.

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 Tags: Columbia South Carolina Real Estate, Columbia South Carolina Homes, Columbia SC Real Estate, Columbia SC Homes, Adrian La Fosse

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Adrian La fosse
Asset Realty, Inc.
Columbia, SC

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