Where can you find easier mortgage financing for buying or investing in CT homes today?
Yes, interest rates may be at ridiculous lows but does that really matter if no one can actually qualify for them?
However, bankers are optimistic about the housing market next year and despite new regulations reports have shown some loosening in some types of credit, even if they are just baby steps. Still the demand for mortgage back securities and high yielding paper is certain to ease underwriting sooner or later.
The question is what home loan options are available for those interested in buying Connecticut real estate today?
While main stream banks may be tough on credit today they are becoming hungrier to loan, so look out for those who are actively offering incentives for those buying CT homes to take out a mortgage with them.
If you have decent credit and income but haven’t had any luck with landing a home loan yet maybe you just need to go bigger! Recent reports have shown that credit has been getting easier for jumbo mortgages, so if you have been just under that threshold perhaps going for a slightly bigger loan could make all the difference in getting approved.
While Connecticut real estate is still amongst the healthiest in the country there are distressed and very motivated homeowners who need to sell and who may be willing to offer some form of owner financing for those without perfect credit too.
Fortunately, when it comes to real estate investing, borrowing is a lot easier, especially for those flipping CT homes. Private mortgage lending has become very popular due to the higher returns and a lack of other attractive investments out there today, but borrowing simply doesn’t get easier than transactional funding and hard money lenders are now making a push back into the market, eager to lend and fuel flipping.
