What Is a Blanket Loan?
Also known as a blanket mortgage, a blanket loan allows you to use one, single loan to buy several pieces of property. This eliminates the need to take out a new loan for each individual piece of property you wish to add to your real estate portfolio.
Reverse Mortgage vs. HELOC
Once you reach 62 years old and are considering accessing the equity in your home, an additional opportunity in the form of a reverse mortgage becomes available. You could always leverage your home equity in the form of a home equity line of credit or HELOC, but with this additional option, which is right for you? Both are more flexible than other loans and have inherent risks that you need to consider before deciding which one works best for you.
How Long is a Standard Home Mortgage?
Mortgages offer many options for homeowners, with varying interest rates, amortization, fees, and monthly payment amounts. You need to find the mortgage that works best for your unique situation, whether your goal is a lower payment, lower interest rate, or paying the loan off as soon as possible.
Top 7 Places for Post-Holiday Shopping in Orlando
The hectic holidays are over, and you’ve got sales to check out and gift cards to spend. The weeks after the holiday season are a great time to find deals on clothing, accessories, and home goods as stores clean out last year’s stock to make room for new items. Perhaps you worked hard this holiday season, or you got a chance to relax. Either way, some shopping will do you good. Head to the coolest shopping spots in Orlando for post-holiday sales and a bit of retail therapy to help you unwind from the busy holiday season.
Can you Get a Bridging Loan with Bad Credit?
A bridge loan is a short-term loan of a year or less used to cover the time between when long-term financing is needed and when it will be available. Bridge loans are typically high-interest loans that require some sort of collateral. The best and most common example is when a homeowner wants to purchase a new home before their existing home sells. They can use the equity in their current home as collateral and use the bridge loan to proceed with their new home purchase giving them time to sell their house. If you find yourself in a situation where you need a bridge loan, but your credit is bad, you have options. The biggest concern for lenders in a bad credit situation is the exit strategy for your bridge loan. If you have a solid exit strategy, lenders may work with you.
How to Build a Real Estate Portfolio
A real estate portfolio is the collection of your tangible assets or a document that comprehensively details all of your real investment assets, both past and present. Think of it as a resume for your real estate investment history. The portfolio can consist of Real Estate Investment Trusts, flipped homes, and rental properties. A portfolio isn’t a legal term, just a concept, so you can reference it as you see fit.
What Is a Portfolio Loan?
Typically, a lender originates a mortgage and then turns around and sells it on the secondary mortgage market. Conversely, a portfolio loan is when a lender originates the loan intending to keep it rather than sell it. There is a set of standards and requirements that must be met to sell on the secondary market. The originator who intends to offload the mortgage must abide by these general requirements and standards. If they intend to keep it as a portfolio loan, they can set the terms to whatever they wish, often in a manner favorable to the borrower.
5 Best Fishing Spots in Orlando, FL
If you’re looking for great fishing around Orlando, you’ll have no shortage of options. This tropical hot spot has several great lakes that deliver an abundance of sizable fish. Here are our top picks for the best fishing spots in the Central Florida area.
What Is a Construction Loan?
You’ve decided that homeownership is for you but haven’t been able to find anything on the market that you like or that fits your needs. Perhaps you should consider building the home of your dreams but aren’t sure how to finance it. Banks and other financial institutions may have a construction or self-build loan option available for you to make your dream a reality.
Investing in Senior Housing
As Baby Boomers approach retirement, the demand for senior housing will continue to increase. While real estate has traditionally been a solid investment, housing for retirees and senior citizens is bound to experience a rapid increase in demand. Investment property may be purchased by individuals or through groups who pool their resources. Financing for investment properties is tighter and is one of many factors to consider before pursuing an investment in senior housing properties.
