Ask Gerald: 5 Ways to Finance a Real Estate Purchase
Q: I’ve been waiting for weeks to for my mortgage approval, if I’m denied, where else can I get the money to buy? Ken, Dover, New Hampshire
A: Hi Ken, What I’m going to do for you is give you 5 different ways to finance a real estate purchase. The first is probably the most obvious choice, a bank, mortgage brokers, credit unions, hard money lenders (much higher interest rates & points—they are useful when you borrow for short periods of time particularly when you buy a property that needs substantial renovation) private investors, don’t assume that you’ll get lower rates, but it never hurts to check. Thanks for your question, ________, for more real estate tips, visit performanceproperty.com and check out my Performance Property you tube channel. I’m Gerald Lucas and I’ll see you again soon.